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canfor

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Raginmund Daalman
Jamaica
2022-11-15
ANSWER Canfor is not a licensed or regulated broker even though it states offers that look good to be true. Canfor claims to be a wealthy and reliable broker under strict regulations in Canada. As per relevant law, all forex brokers in Canada should be regulated by the Investment Industry Regulatory Organization of Canada (IIROC). However, we did not find any match results for this broker in IIROC.Besides, Canfor claims it has branch offices in the United Kingdom, Cyprus, and Singapore. As per this information, we did search several authorities, including:1) The UK Financial Conduct Authority (FCA);2) The Cyprus Securities and Exchange Commission (CySEC);3) The Monetary Authority of Singapore (MAS).But we did not find any match results for this broker in the above watchdogs' registries.The truth is, Canfor is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Canfor and trade with licensed brokers.
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