Canada BCSC Adds Two Unregulated Brokers to Investor Caution List

The British Columbia Securities Commission (BCSC), one of the thirteen provincial financial regulators in Canada, has added Royal Downing Investments and Inter Global to its growing ‘Investment Caution List’, according to a BCSC statement.

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According to the Canadian provincial regulator, Royal Downing Investments solicited a British Columbia (BC) resident and the company opened a trading account for him, without being authorised to do so. The firm is based in the United Kingdom, and claims to offer trading across multiple markets including equities, options and futures. The BCSC has therefore urged investors to use caution when dealing with this brand.

The Canadian watchdog has also updated its blacklist of companies that are illegally conducting financial services targeting provincial residents to add Inter Global operating as Fx-Inter, and doing business through its website https://www.fx-inter.com/. The firm is not registered in British Columbia 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 broker’s websites reveals that it offers 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 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 options, to contracts for difference (CFDs) on stocks. ‎However, Fx-Inter didn’t claim a specific regulatory status in any jurisdiction.

Getting to back to the BCSC warning, after briefly explaining contracts for difference (CFDs) and certain risks and features with these types of products, the BCSC noted that a large portion of CFDs are illegally traded through unregulated online platforms.

The BCSC is the independent provincial government agency responsible for regulating securities trading in British Columbia 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.