Canadian BCSC warns against Forex Broker Royal Downing Investments. According to BCSC, the entity has no authority to trade in or advice on securities and exchange contracts in Canada. Should you trust Royal Downing Investment?
28 December, AtoZForex – The Canadian British Columbia Securities Commission BCSC warns against Forex broker Royal Downing Investments, thus adding the broker to its Investment Cautious List. Also, the watchdog mentions that the unregulated broker is located in the UK and claims to be a trading firm active in multiple markets. Moreover, the Canadian regulator warns investors to avoid any dealing with this Forex broker.
BCSC warns against Forex Broker
The Canadian BCSC issued another warning, contributing to its series of warnings against unregulated brokers. This time, the firm under the spotlight is Royal Downin Investments. Specifically, Royal Downing Investments claims to be a trading firm actively operating in a number of markets including equities, options, and futures markets.
Furthermore, the BCSC states it became aware that Canadian residents were able to open a trading account with Royal Downing Investments. However, the regulator highlights that the Royal Downing Investments doesn’t have registration to trade in or advise on securities or exchange contracts in Canada.
BCSC previous Forex warning
Earlier this month, the regulator warned against Forex broker FX-Inter, adding it to its Investment Cautious List. Moreover, the watchdog mentioned that the unregulated broker runs through the website fx-inter.com. Also, the regulator also warns investors to avoid dealing with this CFDs and Forex broker.
According to the regulator, FX-Inter claims to be a Forex broker with a full regulation and offers an online Forex and contracts for difference (CFDs) platform. Furthermore, the broker’s website does not indicate any real address, but only a UK telephone number.
The BCSC advices Canadian investors to exercise caution, when they deal with a firm that has no authority to trade or advice across the region.
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