Top 10 trading platforms dubai
They were all unlicensed operators who would solicit Canadians with promises of great profits but only swindle them off their money. Unlike brokers that offer Forex trading, binary brokers will have complicated structures to make themselves hard to track and thus impossible to be prosecuted.
Furthermore, dealing with an offshore broker is always a bad option because it is difficult to persecute them, even if they are licensed and regulated. The broker would often deny any withdrawal requests or use the credit card information provided to make illegal withdrawals. This is why the institution finally banned binary options as a final measure.