Swift Bit Options Ltd.
Swift Bit Options Ltd. (SBO) claims to be a broker that offers investment accounts to trade in binary options, cryptocurrencies, Forex, Contracts for Difference, options and other investment products.
We recently became aware of SBO and that it had accepted funds from a British Columbia (BC) resident to trade with the company.
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 BC’s securities legislation.
Cryptocurrencies, like Bitcoin, are a subset of digital currencies. Cryptocurrencies are not fiat currencies. In certain circumstances, cryptocurrencies may be considered to be securities under the securities legislation in BC, and trading in or advising on them may require registration in BC.
SBO is 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.
For information on how to become better informed about binary options, please visit http://www.binaryoptionsfraud.ca/.
For information on how to become better informed about cryptocurrencies and ICOs, please visit https://www.investright.org/about-investing/what-are-initial-coin-offerings-or-icos/.
For information on how to become better informed about investment products and services, please visit InvestRight, at https://www.investright.org.