Cedar Finance / T.B.S.F. Best Strategy Finance Limited
1 Avlonos, Maria House
www.cedarfinance.com (link no longer operational)
We recently became aware of the website of Cedar Finance (Cedar), an entity that provides an on-line platform for trading binary options. Cedar purportedly has an office at an address in Nicosia, Cyprus.
Canadian residents are able to open trading accounts through Cedar’s website.
T.B.S.F. Best Strategy Finance Limited (TBSF) is the owner of Cedar and is registered with the Cyprus Securities Commission, but currently suspended.
A binary option is a type of option whose payout depends on whether the underlying asset (such as a stock, a commodity, a currency pairing, etc.) increases or decreases in value. Options are considered to be securities under British Columbia’s securities legislation.
Cedar and TBSF are not registered to trade in, or advise on, securities or exchange contracts in British Columbia.
We urge British Columbia residents to exercise caution when dealing with firms that are not registered to trade or advise in British Columbia.