Binary options are essentially bets on whether the value of a stock or other asset will reach a certain price within a specified time, which can be as short as 60 seconds. 1 investment fraud targeting Canadians,” says Jason Roy, manager of investigations at the Manitoba Securities Commission and chair of a national binary options task force. The task force is also working with credit card firms to stop payments to binary options companies, and taking other steps Roy wouldn’t outline for security purposes. Last year, the Alberta Securities Commission received 114 calls about binary options, up from 19 in 2015, and the average victim in the province lost $20,000. She only learned he was entwined in binary options when the children looked through his computer after he died.

Source: National Post March 05, 2017 17:53 UTC