Continuing its string of warnings against unregulated brokers and other scams targeting retail traders in Canada, Canadian securities regulator the British Columbia Securities Commission (BCSC) has added to its Investment Caution List unregulated Chinese online broker Omega Mutual Group, operating from website omegamutualgroup.com.
According to the BCSC, Omega Mutual Group claims to be based in Shanghai, People’s Republic of China, and offers an online stocks, commodities, options, precious metals, indices and currencies trading platform.
The regulator became aware of Omega Mutual and that a Canadian resident was able to open a trading account with Omega Mutual.
Omega Mutual Group is not registered to trade in, or advise on, securities or exchange contracts in BC or elsewhere in Canada. BCSC urged BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.
The BCSC warning against Omega Mutual Group can be seen here.