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 MT4 forex broker Trade12, owned and operated by Exo Capital Markets Limited and Global Fin Services Ltd. from website trade12.com.
According to the BCSC, Trade12 claims to be based in Estonia, and offers an online Forex, gold, silver, oil and stock index futures trading platform.
BCSC recently became aware of Trade12 and that a BC resident was able to open a trading account with Trade12.
Trade12 financial is not registered to trade in, or advise on, securities or exchange contracts in BC. The company also does not appear to be licensed as a regulated forex broker in its (stated) home country of Estonia, an EU member state.
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 Trade12 can be seen here.