The FCA has warned UK investors about CTOption (ctoption.com), a London-based Binary Options outfit that has been targeting unsuspecting consumers in the United Kingdom:
“This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.”The FCA also states that CTOption marketing materials are falsely claiming the firm’s financial services are regulated by the agency. On March 17, 2016, the British Columbia Securities Commission also issued a warning on CTOption, stating that the company was taking on BC clients without the proper licenses:
“We recently became aware that a BC resident was able to open an account with CTOption. The Parties are not registered to trade in, or advise on, securities or exchange contracts in BC.”Ontario’s financial watchdog also issued two warnings today: one against Service Global 52 Ltd, and another one against SG 55 Ltd (“SG 55”). Both companies are behind unlicensed Binary Options broker B4binary.com, based out of London, UK!
The OSC’s warnings state that both firms are not registered in Ontario, Canada. Additionally, the OSC says that B4binary has not received approval to give out financial advice or engage in securities trading in the province.