Regulators in Saskatchewan have issued an investor alert about binary options trading firm TradeRush, warning investors about dealing with the firm.
The Financial and Cosumer Affairs Authority of Saskatchewan (FCAA) issued an alert Wednesday regarding the website of TradeRush, which claims to provide an online platform for trading binary options. The site allows Canadian residents to open trading accounts, and was already the subject of a warning by the British Columbia Securities Commission (BCSC) back in 2013.
Indeed, the FCAA says that TradeRush is not registered to trade in, or advise as to the investing in or the buying or selling of, securities or exchange contracts in Saskatchewan. And, it says, “Any document constituting evidence of an option, or any option that is not an exchange contract, is considered to fall within the definition of securities.”
The regulator stresses that investors should be wary of dealing with unregistered individuals or firms.