Canada’s OSC warns of forex broker Zurich Prime

Canada’s OSC warns of forex broker Zurich Prime

- in All News, Featured News, Warnings
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Canada’s provincial regulator, the Ontario Securities Commission (OSC), has published a warning that the forex broker Zurich Prime is not authorized in Ontario to engage in the business of trading in securities.

According to the OSC, the brokerage is owned by U-Nex Global Ltd, with an address on the Marshall Islands. In a separate warning of the same date, the Ontario regulator notes that Zurich Prime is also owned by U-Nex Solutions Srl. On its own site, Zurich Prime also says it is owned by  U-NEX SOLUTIONS SRL, registered and based in Bucharest, Romania.

A quick check revealed that UK’s FCA has warned in August 2015 that the company is providing financial services in the UK without the proper authorization.

The broker offers trading in forex and CFDs and promises “the ultimate trading experience”. According to its website, Zurich Prime is “an industry leading online trading broker, specializing in stocks, commodities CFDs and currencies”, but according to some of its clients, it is “ thieves and crooks”. Many of them complain on the broker’s facebook page, that they cannot withdraw their funds and nobody is replying their e-mails and queries.

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