Option888 was not “banned” by the BCSC, and the regulator did not issue a Canada-wide finding that it was a scam. The British Columbia Securities Commission (BCSC) added Option888, owned and operated by Celestial Trading Ltd. to its Investment Caution List on January 22, 2019.
The warning said the business claimed to provide online Forex trading, had accepted money from a British Columbia resident, and was not registered in the province to trade in or advise on securities or exchange contracts. That is the key regulatory finding. Later records from regulators in Québec, Austria, Germany and Malta add further warnings involving the Option888 name, but they do not establish that every record concerned one legally identical company.
What the BCSC warning says
The BCSC identified the parties as Option888 and Celestial Trading Ltd. It recorded www.option888.com as the associated website.
According to the notice, Option888 described itself as an online Forex trading platform provider and claimed to have offices in London, Sweden, Malta, Germany, Holland, Spain and France. The BCSC said it had learned that Option888 accepted funds from a British Columbia resident.
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The regulator’s specific conclusion was that Option888 and Celestial Trading Ltd. were not registered to trade in, or advise on, securities or exchange contracts in British Columbia. The BCSC urged residents to exercise caution when dealing with firms that are not registered in the province.
Was Option888 banned in Canada?
No. “The BCSC banned Option888” is not an accurate description of the notice. The BCSC page places the entities on a provincial caution list and identifies their lack of registration in British Columbia. It does not describe a cease-trade order, a global prohibition, a final finding of fraud or an order requiring restitution.
It is also not a Canada-wide enforcement order. Securities regulation in Canada is divided among provincial and territorial regulators. A warning from the BCSC is directly relevant to British Columbia residents, while residents elsewhere should also check their own provincial or territorial regulator.
The warning was published on January 22, 2019. If the page is being viewed years later, its continued availability does not make it a new 2023, 2024, 2025 or 2026 alert.
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- This card is non-reloadable. No cash or ATM access. Funds do not expire. If available funds remain on your card after the valid thru date has passed, please call customer service for a replacement card. A one-time purchase fee applies at the time of checkout. No fees after purchase.
- To access your card information safely, type the complete website address shown on your Gift Card (MyGift.GiftCardMall.com) directly into your browser's address bar. Don't use search engines or shortened versions of the website address, as these may lead you to fake or fraudulent sites. Do not provide any Gift Card details (example: Card Number) to someone you do not know or trust. If you believe you've reached an illegitimate website, contact cardholder service at 1-888-524-1283. Be cautious of phishing sites, there are a variety of scams in which fraudsters try to trick others into paying with gift cards.
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Was Option888 a Forex CFD broker?
That description appears in later media and broker-review coverage, but it is not the BCSC’s terminology. The official BCSC warning calls Option888 an online Forex trading platform provider. It does not use the phrase CFD broker.
That distinction matters because a financial article should not attribute a description to a regulator when the regulator did not use it. Regardless of the product label, the BCSC’s practical warning was that the named parties were not registered in British Columbia for the activities described.
What other regulators reported
Other official records refer to the Option888 brand or website. They use different company names and should not automatically be treated as proof that all the entities were one legally identical corporation.
| Regulator | Date | Reported information |
|---|---|---|
| Québec AMF | April 1, 2017 | Listed Option888 as a high-risk binary-options platform and said it was not registered with the AMF or authorized to solicit Québec investors. |
| Austria FMA | November 25, 2017 | Warned against Capital Force Ltd (Option888), identified as being in Samoa, and said it was not licensed to provide investment or banking services requiring authorization in Austria. |
| Malta Gaming Authority | December 27, 2017 | Stated that it had no connection with option888.com and that references on the site to the MGA or its licences were false and misleading. |
| Germany BaFin | March 21, 2018 | Ordered Capital Force Ltd, operating as Option888, to stop and wind up unauthorized financial-commission business in Germany. |
| Germany BaFin | June 6, 2018 | Ordered Celestial Trading Ltd, based in Mahé, Seychelles, to stop and wind up unauthorized financial-commission business. BaFin said it used the Option888 name after Capital Force Ltd. |
The company-name differences are important. The BCSC named Celestial Trading Ltd., the Austrian FMA named Capital Force Ltd., and BaFin took separate action against both. The verified common link is the Option888 brand or website—not a confirmed single corporate identity across every record.
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- Gift Cards are shipped active and ready for use.
- This card is non-reloadable. No cash or ATM access. Funds do not expire. If available funds remain on your card after the valid thru date has passed, please call customer service for a replacement card. A one-time purchase fee applies at the time of checkout. No fees after purchase.
- To access your card information safely, type the complete website address shown on your Gift Card (MyGift.GiftCardMall.com) directly into your browser's address bar. Don't use search engines or shortened versions of the website address, as these may lead you to fake or fraudulent sites. Do not provide any Gift Card details (example: Card Number) to someone you do not know or trust. If you believe you've reached an illegitimate website, contact cardholder service at 1-888-524-1283. Be cautious of phishing sites, there are a variety of scams in which fraudsters try to trick others into paying with gift cards.
- To report your Lost or Stolen Physical Visa Card, call Customer Service 24/7 at 1 (888) 524-1283 to cancel your Gift Card as soon as you can. You will be asked to provide the Gift Card number and other identifying information.
- Use your Visa Gift Card in the U.S. everywhere Visa debit cards are accepted, including online.
What the BCSC Investment Caution List means
The BCSC says its caution list includes entities that may pose a public risk because they may be unregistered, promote investments showing signs of fraud or impersonate legitimate firms. The regulator warns that investors could lose their entire investment.
Being absent from the list is not proof that a firm is safe. Before sending money, a consumer should verify the firm independently through the relevant regulator’s public registration database. A trading website’s claimed offices, licences, logos or regulatory numbers are not substitutes for a current regulator record.
What British Columbia investors should do
- Stop sending money. Do not make another deposit to unlock a withdrawal, pay taxes, cover an alleged compliance charge or increase your account balance.
- Preserve evidence. Save account statements, emails, chat logs, payment confirmations, wallet addresses, phone numbers, website addresses and screenshots. Keep original files where possible.
- Contact the payment provider quickly. Ask your bank, card issuer, wire service or cryptocurrency exchange whether a transaction can be recalled, disputed or frozen. Recovery is not guaranteed, but delay can reduce the available options.
- Report the matter. A British Columbia resident can contact the BCSC. Depending on the payment method and suspected conduct, reports to local police, the Canadian Anti-Fraud Centre and the relevant financial institution may also be appropriate.
- Check for a second approach. Treat unsolicited “recovery” offers as a separate fraud risk, especially if the caller asks for an advance fee, remote computer access, identity documents or cryptocurrency.
Beware of Option888 recovery scams
BaFin reported approaches from people presenting themselves as Trust Gain Capital, also called TGCapital, who promised to repay alleged Option888 losses. BaFin said it believed the operators were acting fraudulently and that repayment would not occur.
BaFin also warned on February 11, 2021 about Deutsche Broker FX. The firm allegedly approached Option888 victims, falsely claimed supervision by BaFin and the Bundesbank, and requested an advance fee. BaFin said documents carrying its logo were forged and that it does not conduct repayments in that manner.
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A later BaFin update dated June 3, 2024 concerned Gain Capital Frankfurt Holdings LTD, also called Gain Capital / Frankfurt. The pattern is familiar: someone knows that a person lost money, claims to have recovered it, then demands a fee or more personal and financial information. A genuine regulator will not require an upfront payment to release compensation from a trading account.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to check a Forex or online trading firm
- Identify the exact legal entity—not just the brand name.
- Find the regulator that should supervise the service in your province.
- Search the regulator’s own website by legal name, trading name and website domain.
- Compare the registered website, email domain and contact details with the firm contacting you.
- Confirm that the registration covers the specific activity being offered. Registration for one financial service does not automatically authorize Forex, derivatives or investment advice.
- Do not rely on a licence number supplied in an advertisement. Contact the regulator using details from its official website.
For a British Columbia resident, the absence of Option888 and Celestial Trading Ltd. from the province’s registration records was the central issue in the BCSC warning.
FAQ
Is Option888 still regulated in Canada?
The BCSC warning states that Option888 and Celestial Trading Ltd. were not registered in British Columbia to trade in or advise on securities or exchange contracts. The notice is a British Columbia warning, not a statement about every Canadian jurisdiction or a global regulatory status.
Did the BCSC call Option888 a scam?
No. The BCSC warning identified the parties as unregistered in British Columbia and said Option888 had accepted funds from a BC resident. It did not state a final finding of fraud. Consumers should nevertheless treat the warning and the absence of registration as serious risk signals.
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- This card is non-reloadable. No cash or ATM access. Funds do not expire. If available funds remain on your card after the valid thru date has passed, please call customer service for a replacement card. A one-time purchase fee applies at the time of checkout. No fees after purchase.
- Double check if the URL/website is genuine before entering card details online. Do not provide any gift card details (example: claim code) to someone you do not know or trust. There are a variety of scams in which fraudsters try to trick others into paying with gift cards.
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What happened to Option888 customers?
The cited BCSC notice does not provide a customer-by-customer outcome or order restitution. It confirms that the regulator had learned of funds being accepted from at least one British Columbia resident. Anyone who lost money should preserve evidence and contact their payment provider and the relevant authorities.
Can I recover money lost to Option888?
There is no guaranteed recovery. Contact the bank, card issuer, wire service or crypto exchange used for payment as soon as possible, and report the matter to the appropriate authorities. Be especially cautious of anyone promising recovery in return for an upfront fee.
What is the official website listed in the BCSC warning?
The BCSC warning records www.option888.com as the website associated with the notice. Consumers should not assume that a website is safe merely because it appears in a regulator’s warning; the listing identifies the site connected with the concern.
The Bottom Line
The accurate takeaway is narrower—and more useful—than “the BCSC banned a scam broker.” On January 22, 2019, the BCSC warned that Option888, identified with Celestial Trading Ltd., was not registered in British Columbia and had accepted funds from a BC resident. Additional regulators issued warnings or orders involving the Option888 name and different legal entities. Anyone contacted by Option888 or a supposed recovery service should stop payments, preserve records, verify claims through official regulator websites and avoid paying an advance fee to recover losses.
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