The Investment Industry Regulatory Organization of Canada (IIROC) has issued a warning that a crypto, forex, and binary options brokerage website called RxD Options is fraudulently claiming to be regulated by the IIROC.
Through their website rxdoptions.com, the company claims to offer accounts for trading in cryptocurrency, forex, and binary options.
The IIROC noted that binary options cannot be offered or sold to retail investors in Canada. No IIROC dealers are authorized to sell binary options to retail investors in Canada. Investors contacted by anyone offering binary options should immediately report the incident to their provincial or territorial securities commission.
A quick perusal of the rxdoptions.com website shows the company claiming to be “regulated under the strict standards of the MFSA in Canada.” There is of course no MFSA in Canada, the MFSA is EU island nation Malta’s financial regulator. The other regulatory licenses claimed by RxD Options also seem to be fake (and, bad ones at that).
IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada’s debt and equity markets.