Canada set to ban binary options altogether

The Canadian Securities Administration (CSA) – the body unifying all regional financial markets and services regulator – has published for comment a “National Instrument” intending to ban trading in binary options altogether. (https://smnweekly.com/2017/04/27/canada-set-to-ban-binary-options-altogether/) The document, entitled “Prohibition of Binary Options” would prohibit advertising, offering, selling or otherwise trading a binary option to an individual. The organization encourages comments by May 29, 2017. Currently binary options are not explicitly forbidden in Canada, but the brokers offering trading in such instruments must be regulated by the respective provincial financial watchdog.

they are too slow, damage is already done.....you cant show me a single person who made money from gambling on binary option....

You’re right. While they’re discussing the ban the complaints against binary options brokers continue to rise, especially in Manitoba. (https://smnweekly.com/2017/04/28/complaints-against-unauthorized-binary-options-brokers-in-manitoba-continue-to-rise/) According to the Manitoba Securities Commission (MSC) only in the first four months of 2017, the number of complaints against binary options brokers was 17. One of the complainants reported to have lost CAD 130 000 to an offshore binary options company. Another was defrauded out of CAD 300 000.