Canada’s BCSC alerts of non-authorized forex broker Cap Growth FX

Canada’s BCSC alerts of non-authorized forex broker Cap Growth FX

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The British Columbia Securities Commission (BCSC) has issued a warning against Cap Growth FX, a brokerage of forex and contracts for difference (CFDs), for doing business without being authorized.

The entity is not registered to trade in, or advise on, securities or exchange contracts in British Columbia, the regulator alerted. Nevertheless, local residents can open and manage trading accounts with the broker.

The broker operates via the website www.capgrowthfx.com. It offers two types of trading accounts – for individuals and for corporate clients, both with a minimum deposit requirement of €250,000.

We urge BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.

In Canada, capital markets are supervised by provincial regulatory bodies. Financial service providers are required to register with the relevant authorities in order to operate in the country.

When engaging with unauthorized and non-regulated brokers, traders are putting their investments at higher risk. We strongly advise you to only deal with regulated forex brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.


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