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Canada’s financial regulator, the British Columbia Securities Commission (BCSC) warned that Pegase Capital Limited, operating as the binary options broker Interactive Option, is not registered to trade in or advise on securities or exchange contracts in British Columbia. The company claims it has a Cyprus license.
According to the BCSC’s statement, it became aware that, nevertheless, Interactive Option was soliciting residents of the Canadian province to invest in binary options. In Canada each province has its own financial regulator and recently several of them informed the public that there are no binary options brokers licensed to do business in the country. This, however, does not stop some of the more unscrupulous ones to take advantage of people who have no investment experience and rip them off.
About a month ago the Cyprus Securities and Exchange Commission (CySEC) announced its decision to suspend the financial services license of Pegase Capital because it was putting its clients’ investments at risk. The decision was taken on February 29 and the company had one month to take actions and remedy the situation. There have been no further news on the matter since then, but an SMN check on its website found a notice that its license has been suspended.
In mid-October 2015, the CySEC imposed on Pegase Capital a number of small fines for not complying with the laws related to the licensing and operation of investment companies and the regulations for prevention of money laundering. The penalty amounted to €300 000.
Pegase Capital was established in 2013 and had only a Cyprus license. It operates under the brands Interactive Option and HelloBrokers for binary options activities and MTXPlus for its forex business.