British Columbia Regulator Warns Against Unregulated Broker LionsTradeFX

The British Columbia Securities Commission (BCSC) has issued an official warning on its website, listing LionsTradeFX.com as a company suspected of illegally offering services within the region. The warning provides information that the company has “made an unsolicited offer to a British Columbia (BC) resident to invest with Lionstradefx.com.” The regulatory watchdog has discovered that LionsTradeFX claims to be a binary options Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term provider.

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While standard financial “options are considered to be securities under the securities legislation in BC,” it is important to distinguish between legitimate options and alternative trading products that do not represent financial trading within the confines of the law. The statement was clear in proclaiming that “Lionstradefx.com is not registered to trade in, or advise on, securities or exchange contracts in BC.” It is not recommended to conduct business with organizations that fail to adhere to regulatory demands and restrictions, which are put in place in an effort to protect investors from potential fraud by companies whose operational activities are not monitored.

Previous Warnings

The warning is another step in the BCSC’s tireless efforts to crack down on the binary options industry with full force. The commission has previously issued warnings against similar companies, urging the public to beware of firms working outside the law and without the proper necessary approvals and licenses.

Moreover, BCSC Director Doug Muir expressed his views regarding unregulated brokers several months ago. At the time he said: “Many websites claiming to offer binary options are simply vehicles for fraud. These fraudsters have no interest in registration or compliance with securities law, because they are not conducting any real business. They are just out to steal money.” The Canadian regulator has remained incredibly active in combating unlawful activity from such companies, that blatantly fail to comply with financial Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term and laws within Canadian territories.