Every Friday until October 28, we’re blogging about one of our financial fraud explainer videos– they’re a great way to learn about how to protect your financial future (without having to go to class!) You’ll even want to take the “test” at the end - it’s a quiz contest for prizes!
The second video we’re highlighting is about binary options, and why they should raise red flags.
Binary options are a big thing right now – there are sites all over the internet promoting these so-called “investments.” In the best case scenario, binary options are more of a bet than anything else; worst case, they’re fraudulent.
The second video in our series explains the reasons why binary options are a dangerous prospect. Many are not traded on real exchanges, and the platforms are offshore, which makes it exponentially more difficult to get your money back. Furthermore, anyone offering binary options for sale in Alberta must be registered. Fortunately, that is easy to check at www.aretheyregistered.ca.
Watch the video for more details.
To participate in the contest, read the You ASC’d blog and watch the corresponding videos every Friday starting September 30. Then test your knowledge with our Fight Financial Fraud quiz, available on October 28 and closing on November 4. Quiz participants will be entered into a draw to win one of three $100 gift cards to Indigo Books, to help you become a better investor with books about investing. Click here for contest rules and regulations.
Be sure to check back next Friday to learn about Ponzi schemes!
Recognizing a Scam
CSA Investor Alert: Unregistered binary option platforms target Canadians
National Registration Search