Quebec's AMF Issues Warning against Unauthorized Activity of 24 Companies in Canada

Canada’s Autorité des marchés financiers (AMF) has issued a warning to Quebec investors about the use of 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 platforms, specifically citing 24 companies that are presently unauthorized in Canada, including several familiar names, according to an AMF statement.

Global regulators are constantly policing regional financial markets, with such mainstays as the UK’s Financial Conduct Authority (FCA) and the United States’ National Futures Association (NFA) among notable examples. The AMF has compiled a list of companies providing trading services for both Forex and binary options of unauthorized firms in Canada, augmented by a list of complaints from investors. Following is the list of companies:

There have been several notable clampdowns as of late against a number of fraudulent trading schemes, though ultimately the onus is on investors to exercise their due diligence before embarking on any activities.