Notice from British Columbia Securities Commission
According to a recent report from Finance Magnates, the British Columbia Securities Commission (BCSC), a key financial regulator in Canada, has issued a public advisory warning against the trading platform Option888. The regulator became aware that the platform had accepted funds from a resident of British Columbia, prompting formal caution.
This alert underscores the importance of engaging only with licensed and properly registered financial service providers within the province.
Links to Celestial Trading and Licensing Concerns
The BCSC notice also draws attention to Celestial Trading, the company believed to be behind Option888. The platform’s website claims that Celestial Trading operates under a sub-license issued in Montenegro. However, recent findings indicate otherwise.
An earlier report revealed that Celestial Trading is not registered or authorized by Montenegro’s financial supervisory authority. Despite public claims of compliance, the company appears to lack legitimate licensing credentials—raising significant questions about its regulatory standing.
Scheme Structure and Payment Operations
Investigations have outlined Celestial Trading’s structure, revealing a web of unlicensed payment service providers and questionable trading methodologies. These findings align with broader concerns about the use of unauthorized intermediaries to facilitate investor deposits and withdrawals—practices common among unregulated platforms.
Public Warning Against High-Risk Brokers
Unregulated trading sites and associated boiler room operations are increasingly recognized as part of a global network of financial fraud. Platforms like Option888, Tradeinvest90, XMarkets, XTraderFX, GToptions, StoxMarket, Bluetrading, FXTrade777, and KayaFX have reportedly caused substantial investor losses running into the billions of euros globally.
If you believe you have been affected by any of the platforms listed above or similar unauthorized brokers, it is crucial to report the incident and submit your claim via trusted reporting mechanisms.