Canadian provincial regulator Ontario Securities Commission (OSC) issued over the weekend warning notices against CFD Capital Markets, doing business as www.cfdcapmkt.com, and Apex One Trading Group, operating as www.apexonetg.com, for operating unauthorized.
CFD Capital Markets is based in Morocco, while Apex One Trading Group is headquartered in Panama. They both offers trading in forex, fprex options, commodities and contracts for difference (CFDs). Neither of the two entities is registered in Ontario and is not allowed to offer financial services, trading in securities included, in the province.
The websites of CFD Capital Markets and Apex One Trading Group look very similar to one another. Neither of the brokers provides information regarding regulation or authorization. Their inclusion in the OSC’s warning list does not necessarily mean that they are fraudulent businesses. The regulator includes in the warning list not only scammers and companies that offer securities without a prospectus, but also financial entities that operate on the territory of Ontario without having the proper authorization.
In Canada, the forex market in the different provinces is regulated locally and their jurisdictions may vary. The OSC is in charge of the capital markets in Ontario, Canada’s largest province by population. It keeps a register of all authorized entities and maintains a warning list with some companies that operate without being authorized to operate in the province, which currently consists of more than 200 entities and individuals.
We strongly advise you to only deal with regulated brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.