Ontario Securities Commission (OSC), one of the thirteen provincial financial regulators in Canada, has added two forex brokers to its list of companies not to do business with, according to a regulatory statement.
The Panama-based Apex One Trading Group, operating through www.apexonetg.com, and CFD Capital Markets, which is doing business as http://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.
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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, 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.