www.binexmarkets.com (link no longer operational)
Binex Markets, which purports to have an office in the United Kingdom, offers an on-line trading platform for binary options.
We became aware that Vision Trading Advisors (VTA), a firm that purports to be located in Fort Lauderdale, Florida, had contacted a British Columbia (BC) resident about opening an account with Binex Markets. In that regard, VTA instructed the BC resident to send funds to the bank account of Vision Financial Partners, LLC.
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 BC.
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.