In recent weeks, the Autorité des marchés financiers (AMF) has uncovered, particularly through Internet surveillance, several cases of companies that are unauthourized to operate in Québec yet are soliciting investors to speculate on the currency market.
The AMF is therefore cautioning investors against solicitations carried out through the website www.forexcanus.com by 6149154 Canada Inc., also known as Forexcanus. The AMF is also cautioning Québec investors against the activities of Gain Capital – Forex.com UK Limited, which solicits investors through www.forex.com.
These companies are not registered with the AMF as derivatives dealers or in any other capacity. Such solicitations and the nature of the products being proposed by these companies may be violations under the Derivatives Act or other laws administered by the AMF.
Currency and derivatives markets are complex and volatile, and are therefore for investors who have the knowledge, time and resources to track them. Investors who do not have the knowledge and time needed to trade in these markets could incur significant losses.
The AMF also reminds consumers about the importance of investigating before investing. They should ensure that the firms and individuals offering to act as intermediaries, including through the Internet, have the necessary approvals by checking the Register of firms and individuals authorized to practice on the AMF website or by calling the Information Centre. The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial industry.