Canada’s OSC Warns against Two Unregistered Brokers

Ontario Securities Commission (OSC), one of the thirteen provincial financial regulators in Canada, has added two 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 brokers to its list of companies not to do business with, according to a regulatory statement.

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The Panama-based Apex One Trading Group, operating through www.apexonetg.com, and CFD Capital Markets, which is doing business as https://cfdcapmkt.com from Morocco, are the latest entities to be added to the OSC warning list. This follows a growing number of recent complaints regarding forex and binary options firms.

According to the OSC, CFD Capital and Apex One are not registered in Ontario to engage in the business of trading in securities or advising anyone with respect to investing in, buying or selling securities.

A brief review of the two brokers’ websites reveals that they offer trading facilities on a wide range of financial instruments, ranging from foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, forex options, to Contracts for Differences (CFDs) on stocks. ‎However, neither firm claims a specific regulatory status in any jurisdiction.

In its capacity as one of Canada’s provincial regulators, OSC 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.