Canadian Regulator Issued Warning Against Option888

tamir
Sat, 26 Jan 2019 10:08:15 +0000
Binary Options, Illegal Broker Activities, Veltyco, Celestial Trading, Option888, TradoVest, XMarkets

As reported by Finance Magnates the Canadian British Columbia Securities Commission (BCSC) published a new warning on its website against Option888 on Tuesday.

BCSC became aware that Option888 had accepted funds from a British Columbia (BC) resident to trade with the company.

“We urge BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.”
BCSC Warning

The BCSC warning also referred to Celestial Trading which allegedly owns and operates this binary option and forex trading platform. On the illegal broker’s website, it is claimed that Celestial Trading would be a licensed company working with a sub-license in Montenegro. FinTelegram recently exposed that as a matter of fact, Celestial Trading is not licensed by the Montenegro supervisory authority.

FinTelegram also published an analysis of the Celestial Trading scheme with its different payment services providers and trading styles.

Report Activities

Illegally operating broker schemes and their boiler rooms are part of fast-growing global cybercrime activities. Millions of investors are defrauded by those broker sites losing billions of euros every year. Hence, it is important to warn investors of such illicit sites. If you are a victim of an illegally operating broker site such as Tradeinvest90, Option888, XMarkets, XTraderFX, GToptions, StoxMarket, Bluetrading, FXTrade777, or KayaFX please file your claim and report activities via our whistleblower system:

Report Activities And Incidents