Earn a binary options is physically impossible

Financial and Consumer Services Commission. Access the FCNB Self-Serve Portal. Buying and Selling Property. Working with an Adviser. Financial Resources for Women. Buying or Renting Your Home. Financial Resources for Seniors. Proposed Rules and Changes. How to Submit an Inquiry. FRAUD ALERT All binary options targeting New Brunswickers are illegal.

Many are scams based in foreign countries with little-to-no financial regulation. Once your money leaves Canada, it is virtually impossible to get it back. Even if you appear to make money using a binary option site, actually getting it out is impossible.

Binary options site operators loose if their users win, so it is easy to see why this is the case. Avoid binary options at all costs. As the saying goes, when you gamble the house always wins, and that is certainly the case in online binary options trading scams.

However, there are no firms or individuals registered to sell binary options in New Brunswick. Although New Brunswickers are being targeted by those purporting to sell a legitimate investment opportunity, it is illegal to sell binary options to New Brunswickers without being registered to do so with FCNB.

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Learn more about licence and registration rules in New Brunswick. Binary options scams find their victims through ads placed on social media, websites, chat programs, or unsolicited text messages or phone calls.

The sales pitch offers an exciting opportunity to invest money easily and earn returns quickly. They will tell you binary options are risk free. This is a lie. Binary options are like gambling. You make a wager on whether you think the value of an asset will increase or decrease in a fixed and often very short period of time — sometimes minutes or even seconds. When the time period is up, you either receive a payout or lose the wager.

But, the vast majority of the time no trading took place at all. Binary options are typically traded within extremely small time frames, which increase risk significantly. Even very knowledgeable investors may find it difficult to predict whether the share price of a public company will go up or down in the next few minutes.

Binary options trade with such speed that wins and losses happen very quickly. But in most cases you are never really investing your money and no trading is taking place. You will be pressured to invest more.

But at the end of the day, it is a scam and the money is gone. Victims of binary options have seen their life savings drained, RSPs lost, and money for post-secondary education gone. The impact of fraud on victims and their families is devastating.

Not only do victims suffer financial losses, but the negative impact to mental, physical and emotional health should not be underestimated. All binary options targeting New Brunswickers are illegal. You are promised an easy way to invest and make good returns.

But in reality, this fake investment opportunity is just a ploy to steal your money. In most cases, no actual trading takes place. These are not legitimate investment opportunities anywhere in Canada.

Selling unregistered binary options to New Brunswickers is illegal. You will lose your money.

Binary options scams list. Check which brokers are fake.

This makes it virtually impossible to get your money back. If you suspect you are a victim of a binary options scam, contact your bank and cancel the credit card immediately and report the scam to FCNB.

Never give out sensitive personal information online or over the phone to a company or individual you do not know. Remember — these fake trading platforms are just a dressed up gambling system manipulated by the scammer.

These scammers are not legitimate traders or brokers.

Legitimate investment opportunities come with documentation about the potential risks and costs, and other important information that investors need in order to make an informed decision. You are able to see historical trading activity and information about a legitimate investment. Binary options scams come with none of these protections.

Every investment involves some amount of risk.

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Address Financial and Consumer Services Commission 85 Charlotte Street, Suite Saint John, NB E2L 2J2. Binary Options FRAUD ALERT All binary options targeting New Brunswickers are illegal. What is a binary option? How do binary options scams work? Is binary options trading legal?

What should I do? Financial and Consumer Services Commission 85 Charlotte Street, Suite Saint John, NB E2L 2J2.