A growing number of websites and companies are making claims about how quick and easy it can be to make money by trading binary options. No matter what they say, the truth is that none of these companies can legally sell binary options to Canadians.
Businesses that are illegally offering Canadians binary options are operating all over the world. Investing with an offshore company is a high-risk activity that makes it nearly impossible to recover lost money if something goes wrong. If you invest in binary options, you could lose some or all of your savings.
Talk to the OSC
If you’ve been approached by a binary options trading company or have lost money in a transaction, we want to hear from you.
To learn more about how to better protect your money, get in touch with the Ontario Securities Commission Inquiries and Contact Centre.
Know the warning signs
Some companies may claim that trading binary options is risk-free or that they will reimburse your losses on a bad trade.
These promises are simply too good to be true. All investing comes with some level of risk. Learn more about how binary options works and what makes them so risky.