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Canada to prohibit binary options advertising

Canadian Securities Administrators (CSA) is set to implement a total ban on the advertising and provision of binary options trading within the country.

The CSA has released document proposing the ban called the “Prohibition of Binary Options.”

Binary options has been offered to Canadian investors for several years, by both regulated and unregulated brokers who use pushy sales tactics to lure customers into the scheme.

“We are deeply concerned by the increasing number of investor losses and complaints resulting from binary options,” said the chair of the CSA. “[The ban] is critical to our efforts to help stop binary options fraud.”

Read more at Chronicle Day

This article is summarized by Canadian Fraud News Inc.