Quebec Financial Regulator Issues Forex Warning

Quebec’s regulator, Autorité des marchés financiers (AMF), has become the latest financial supervisory group to issue a warning about 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 trading. The AMF’s statement urges Quebec investors to use caution when evaluating forex offerings. The statement comes as the AMF explained that Quebeckers were victims of forex fraud, namely of the Australian Investment Intelligence Corporation (IIC). IIC was also charged last year by the CFTC for soliciting clients for forex managed accounts by using aggressive profit assurances.

As a recognized asset class that touts trillions of dollars of daily volumes, Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term has been widely used to solicit potential clients towards unregulated managed account funds as well as Ponzi schemes. Marketing of these products typically focuses on the prospects of guaranteed monthly returns and was the subject of a write-up earlier this year on HYIPs. The current warning from the AMF focuses on these schemes as well as informing investors to analyze whether the solicitor is regulated or not. The AMF statement follows similar ones from New Zealand’s FMA and Australia’s ASIC over the last several months.