In January 2023, the Ontario Securities Commission raised concerns about fraudulent brokers added to the warnings list. We’ll take a look at this list and try to find the reasons behind the decision.
We take these warnings seriously because OSC is one of Canada’s firmest regulators. And so should you.
The company claims to offer only trading courses, hence the lack of a license. However, according to reviews, they entice investors by enrolling them in a course, only to offer them trading services and take their hard-earned money.
However, SMI doesn’t have a license, and despite its EU domain, it cannot provide legitimate trading services in any country. Don’t be deceived by their offer.
Bitcoin Motion, a.k.a. BitcoinMotionEU, is allegedly a BTC trading system integrated with 18 regulated brokers. Customers can trade BTC using algorithms to increase their earnings through this system.
The only issue here is that the system is unknown, and so are their alleged licensed partners. It looks like a typical HYIP where investors are promised “insane profits” while actually losing their entire investment to a scammer.
The first issue here is a lack of licenses. Crypto Wealth Investments is allegedly a Belgium-based trading brokerage offering CFD trading. Namely, Belgium has a pretty firm FX and CFD regulator, FSMA, that prohibits leveraged trading and incentives. However, Crypto Wealth Investments offers both.
In addition, the company onboards residents from Canada without proper authorization, which has led to their name ending up on the OSC warnings list.
Investments Global is your typical online scam. The firm claims to be a worldwide brand committed to customer success. However, they don’t give you company details, license, or any fund safety. The only thing you can succeed in is losing your money.
After a number of reports, the brokerage found its place on the OSC’s list of warnings.
Marketsxo invites investors to trade like professionals. If by that they mean to lose their money quickly, then yes. Marketsxo LLC owns the brand, but we don’t know where the company is based. Of course, we don’t know under which legal jurisdiction it belongs and how to get the money back in case of issues.
Further, we found all hallmarks of fraud, including trading bonuses, generous leverage against regulatory limits, and more. Steer clear and keep your money safe. That’s what OSC tells us.
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