Canada’s provincial regulator, the British Columbia Securities Commission (BCSC) has issued a warning against the forex broker CFD Capital Markets.
According to the notice, the company is not registered to trade in, or advise on, securities or exchange contracts in British Columbia, but a resident of the province has been able to open a trading account with it nevertheless. The regulator said it is urging British Columbia resident to be cautious when dealing with unregistered companies.
On its website CFD Capital Markets claims it offers trading in forex, forex options, commodities and CFDs. It does not provide neither regulatory information, nor a business address. There is no information about its trading conditions either.
This is not the first time a regulator issues a warning against CFD Capital Markets. Last autumn Ontario’s Securities Commission also warned it is not licensed to provide financial services in the province. Round about the same time Sweden’s regulator, the Finans Inspektionen has also published a cautionary notice against the parent company CFD Capital Markets, SARL.