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The Manitoba Securities Commission (MSC) has put out investor alerts against two binary options brokers: Boss Capital and Option500.
According to the MSC, neither of them is registered in Manitoba to engage in trading securities or offering advice with respect to investing in, buying, or selling securities.
Boss Capital claims to be owned by Melnic Group, allegedly based in Bulgaria, while Option500 is reportedly owned by Options Solutions Online Limited, based in the UK. According to the MSC, the latter is based in Aberdeen, while the broker’s site claims the company is located in Manchester.
Neither broker provides regulatory information.
Boss Capital has appeared in numerous warnings: Italy’s CONSOB, France’s AMF and Australia’s ASIC (with a different owner). Most recently another Canadian regulator, the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) has issued a cease and desist order against Boss Capital.
Option500 has also been repeatedly warned against: by Quebec’s AMF, Hong Kong’s FSC and Belgium’s regulator FSMA.