These are some interesting though sad news for Canadian traders. The CSA (Canadian Securities Administrators) are ready to propose to have all advertisement, offering and selling any Binary Options service or product. This is due to the high amount of fraud cases that have been faced throughout the last few years in Canada specifically. The document would be called "Prohibition of Binary Options" and it is intended to target many Cyprus regulated firms (brokers) and unregulated ones.
There is a piece of an interview made to the Chair of the CSA and CEO of Canadian AMF that expressed their concern of the high amount of investors losing money due to several SCAMS in the Binary Options field. Now, we have to understand that they are not against Binary Options. They are against scammers that have caused many losses on Canada resident's finances, plus identify theft in many cases when they provide their bank or card information to unregulated brokers that target aggressively Canadian investors. Most of these brokers are the ones we have Blacklisted in Binary Living Way for a long time.
Since there is no governmental agency that allows Binary Options companies in Canada, they are inviting all Canadian residents to visit http://www.aretheyregistered.ca/ to verify what companies can offer them financial services, We all know that Forex is the pioneer industry for small investors and this open the question again....Is the Binary Options industry dying? Check the video with the answer and remember that Canada was always very limited for Binary Options and this is a step ahead to prohibit it 100% in the Country. Thanks a lot for reading.