The Canadian Securities Administration (CSA) – the body unifying all regional financial markets and services regulator – has published for comment a “National Instrument” intending to ban trading in binary options altogether. The document, entitled “Prohibition of Binary Options” would prohibit advertising, offering, selling or otherwise trading a binary option to an individual. “We are deeply concerned by the increasing number of investor losses and complaints resulting from binary options,” said Louis Morisset, Chair of the CSA and President and Chief Executive Officer of the Autorité des marchés financiers.
From what I read, they not set up to even have brokers in Canada. https://www.binaryoptionscanada.net/legal/
The people who trade via its fault, its obviously a scam like casino sites. They start off easy with goods odds paid out to get you hooked, then reduce the odds so no matter how good you are you'll still be losing.