In May 2024, 7 unregulated forex brokers were listed on the Investment Caution List issued by the British Columbia Securities Commission (BCSC) in Canada.
The BCSC is a government agency that regulates the province's capital markets under securities laws. Its warning list often includes illegal brokers that provide Forex trading services.
These brokers not only make Canadian investors potential victims of investment fraud but also pose a threat to global investors. If these entities claim to be located in your country or region, take precautions and check with your local financial regulator.
BrokersView has compiled a list of unlicensed forex brokers that have been warned by the BCSC. You may search for the names of these brokers in BrokersView to get detailed information on why they are not the best investment options for you.
The following brokers have been warned by the BCSC in May 2024.
Sequoia Capital Markets
Website: https://sequoiacm.com
Location: Hongkong
Canadian Capital Markets
Website: https://canadiancapitalmarkets.com
Sadex Group
Website: https://sadexgr.com
Globfoctrum
Website: https://globalfoctrum.online
Location: Mauritius
Binoxtrade Ltd.
Website: https://binoxtrade.com
Location: the United States
Globfoctrum
Website: https://globalfoctrum.online
Location: Mauritius
Trojan Markets
Website: https://trojanmarkets.com
Location: Toronto, Canada