Canada’s Nova Scotia Cautions Investors against HQBroker

The Nova Scotia Securities Commission (NSSC), one of the thirteen provincial financial regulators in Canada, has added the 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 firm HQBroker to its ever-growing Investment Caution List, according to an NSSC statement today.

HQBroker, doing business through its website https://www.hqbroker.com, offers clients a range of financial services which includes seminars about forex, social trading, as well as unrealistic payouts are associated with its affiliate programs, which compensate clients for attracting new traders.

Last month, Ukrainian police arrested principals of HQBroker for operating an Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term scam across the Eastern European country. According to a police report, the scheme has been orchestrated by a 34-year old Ukraine who also operated the brand “Trade12” through offices in Kyiv, Kharkiv, Dnipro, Zaporozhye, Mariupol and in the Dnipropetrovsk region

Getting back to the warning, the Nova Scotian watchdog said this firm is not registered to trade in or advise on securities or exchange contracts in the province and is one of many alerts issued by the watchdog which involve unauthorized soliciting or contact with retail investors in Canada by unlicensed brokers.

A dangerous place to shop for investments

HQ Broker was also flagged for cold calling Nova Scotia residents offering to establish derivate trading accounts, in a manner that bears the hallmarks of an overseas broker scam, the regulator said.

After briefly explaining certain risks related to derivatives products, the provincial authority noted that online advertising services are a dangerous place to shop for investments and recommends exercising extreme caution when dealing with firms that are not registered in Nova Scotia.

The NSSC is the independent provincial government agency responsible for regulating securities trading in Nova Scotia through the administration of the Securities Act. 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.

To fulfill its mandate, NSSC also works in close co-operation with the securities regulatory authorities across Canada through the Canadian Securities Administrators (CSA). The CSA is the umbrella organization for the 13 securities regulators of Canada’s provinces and territories that work together to coordinate and harmonize the regulation of Canada’s capital markets.