Do not invest more money than you can afford to lose.
The Dutch financial services regulator AFM has published a warning that the company BMO Monex Securities could be a boiler room scam.
Besides using a name similar to that of the Japanese forex broker Monex and claiming to have a corporate address in Tokyo, the company offers wealth management services, among which investment in forex. The other address BMO Monex Securities provides, is in Toronto, Canada.
The classical definition of a boiler room scam involves bogus stockbrokers or other financial services providers offering investment in non-existent or worthless instruments. Usually they cold call unsuspecting clients and promise them high returns on investments, then take the money and disappear.
