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Are binary options scams very big problem in Canada

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asked Apr 27 in Binary Options by layla (2,000 points)

1 Answer

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answered Apr 27 by Fred (4,020 points)

According to data from the Manitoba Securities Commission (MSC), released on April 26, 2017, the body has received 17 reports from binary options scam victims over the last four months. In April this year, a man from Portage La Prairie reported being defrauded of $130,000 to an offshore binary options firm, whereas a Southern Manitoba man has lost more than $300,000 for similar reasons. According to this, looks like scams are big problem in Canada.

commented Apr 27 by Lopez
How they will regulate this?
commented Apr 27 by Fred (4,020 points)
MSC is proposing a nationwide ban on all sorts of offering of binary options (advertising, selling, trading, etc) to Canadians.

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