BinaryOnline, owned and operated by Zola Ltd. (together, the Parties)
BinaryOnline claims to be a binary options trading brokerage based in Sofia, Bulgaria, and offers an online binary options trading platform.
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 the securities legislation in British Columbia (BC).
We recently became aware of BinaryOnline and that a BC resident was able to open a trading account with BinaryOnline.
The Parties are not registered to trade in, or advise on, securities or exchange contracts in BC.
We urge BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.