Canada’s BCSC Adds Edgedale Finance to its Warning List

The British Columbia Securities Commission (BCSC), one of the thirteen provincial financial regulators in Canada, has added Edgedale Finance to its ‘Investment Caution List’, according to a statement issued by the watchdog today.

Edgedale Finance, which operates under the website https://edgedalefinance.com, offers binary options trading services on a variety of assets including currencies, commodities, stocks and indices, and claims to be located at One Paddington Central, Kingdom St, London, UK.

Not Regulated

The BCSC, which recently warned against XForex for similar offences, as reported by Finance Magnates in July, became aware of Edgedale Finance after finding out that a local resident was able to open a trading account with the brokerage.

The regulator therefore red-flagged Edgedale Finance since it is not registered to trade in, or advise on, securities or Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term contracts in BC. The warning is one of many alerts issued by the BCSC which involve unauthorised soliciting or contact with retail investors in Canada by unlicensed brokers.

Background

The BCSC is the independent provincial government agency responsible for regulating securities trading in British Columbia through the administration of the Securities Act. The regulator website provides information, tools and resources for investors, including investor warnings about individuals and companies that appear to be engaging in unauthorised activities.

In parallel to today’s warning against Edgedale Finance, the BCSC has reminded BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.