Caution regarding currency market - AMF cautions investors about solicitations through Markets.com and Bforex Ltd.
Monday, March 05, 2012
Montréal – The Autorité des marchés financiers (“AMF”) is cautioning investors about Markets.com and Bforex Ltd., two companies that are not authorized to carry on activities in Québec. These two companies have recently solicited Quebeckers to invest in the currency (FOREX) market.
Solicitations through Markets.com
In addition, the AMF issued a caution in October 2010 regarding solicitations of Quebeckers made through four websites related to SafeCap: www.finexo.com, www.goforex.com, www.gfcmarkets.com and www.gdbrokers.com.
Solicitations through Bforex
Since these companies are not registered with the AMF, the solicitations they make to Québec investors may violate the laws administered by the AMF, in particular the Derivatives Act.
Reminder for investors
As Fraud Prevention Month begins, the AMF also reminds investors about the importance of being vigilant before investing their savings, regardless of the location of the companies and individuals offering the investments. Investors should ensure that the companies and individuals offering to act as intermediaries hold the necessary approvals from the AMF by checking the Register of firms and individuals authorized to practice on the AMF’s website or by calling the AMF Information Centre.
The Autorité des marchés financiers ("AMF") is the regulatory and oversight body for Québec’s financial industry.
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