Canada’s provincial regulator, the British Columbia Securities Commission (BCSC), has issued a warning against the binary options and CFD broker Hedgestone Group.
In its statement BCSC said that it became aware that residents of British Columbia were able to open trading accounts with the broker. It, however, does not have a license to operate in this Canadian province, or the entire country, for that matter.
According to its site, Hedgestone Group and the service provider Nevski Ps Limited have an address in the village of Petarch in Bulgaria and operate under the Belize license of Icon Markets Limited. The broker explicitly says it does not accept clients from the US, Canada and South Africa.
This is not the first time Hedgestone Group appears in a warning. Last autumn another Canadian regulator – the Manitoba Securities Commission (MSC) also said the broker is not authorized to trade in securities in the province.
We remind you that recently it became clear that the relevant Canadian authorities are discussing plans to explicitly prohibit advertising, offering, selling or otherwise trading in binary options in the country.