BCSC Issues Warning Against Binary Options Broker DGI Market

The British Columbia Securities Commission (BCSC), one of Canada’s thirteen provincial financial regulators, has again updated its Investor Caution List to include binary options broker, DGI Market.

DGI Market is owned and operated by DGI Market Ltd. The broker which trades using the website url www.dgimarket.com claims to be based in Bulgaria and has allegedly been soliciting financial services to British Columbia residents.

Unlicensed Entity

The financial watchdog, which recently warned against Big Option for similar offences as reported by Finance Magnates earlier this month, became aware of DGI Market when it found out that a resident was able to open a trading account with the broker.

Upon further investigation, it was found that DGI Market 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. In addition, there is no evidence online of 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 by any other jurisdiction which, coupled with the overall lack of transparency on the website, raises concerns about the authenticity of the firm.

Background

The BCSC is the independent provincial government agency responsible for regulating capital markets in British Columbia. Its Investor Caution List contains individuals and companies that appear to be engaging in activities that may pose a risk to investors.

As with all brokers included on the list that are not registered to trade in and advise on securities or exchange contracts in BC, the Canadian watchdog has warned that trading with this broker may present a risk to investors and has therefore urged the public to use caution when dealing with DGI Market.