Canada's MSC Warns Against Three Forex and Binary Options Brokers

The Manitoba Securities Commission (MSC), a Canadian provincial regulator, has warned the public against investing with a list of brand names which appear to be running unauthorized Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and binary options services, according to a regulatory statement.

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The latest additions to the MSC’s warning list are two forex and CFDs brands, Shtern Group and Aidan Trading, and the binary options broker Silver Trade.

The three firms were blacklisted by the MSC as they are not registered in Manitoba to engage in the business of trading or advising anyone with respect to investing in securities. The three brands are also not registered to sell securities in Manitoba, or anywhere else in Canada, and have therefore failed to comply with provincial securities laws.

In its capacity as one of Canada’s provincial regulators, the MSC seeks to protect investors while promoting fair and efficient capital markets throughout the province. The regulator website provides information, tools and resources for investors, including investor warnings about individuals and companies that appear to be engaging in unauthorized activities.

In response to escalating binary options scams, provincial and territorial securities commissions across Canada have formed a task force and launched a new dedicated website to crack down on aggressive marketing tactics, cloning and false claims of Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term.

In addition to the Binary Options Task Force, the Canadian Securities Administrators (CSA), comprised of the country’s thirteen key financial market regulators across their respective provinces, launched a new resource site, www.BinaryOptionsFraud.ca. The move is part of a campaign to educate Canadians about binary options scams.

The initiative against binary options activities comes after the Canadian watchdogs received more than 800 reports and inquiries from investors in 2016 alone, which demonstrates that the schemes have become the nation’s most widespread securities fraud threatening the general public and retail investors.