Warning issued against offshore CFDs broker Rocket Consultant Group

BCSC warning

Canadian financial regulator BCSC (British Columbia Securities Commission) has issued a warning against offshore CFDs broker Rocket Consultant Group.

The move comes just several days after a similar warning issued by New Zealand’s FMA involving CCM Clearing Limited, a Bulgaria based entity which the FMA said is associated with Rocket Consultant Group. The FMA stated that Rocket Consultant Group could be involved in a scam, and invovled in unreasonable withholding of client funds.

According to the BCSC, Rocket Consultant Group Ltd. (operating from website rocketconsultantgroup.com) claims to provide an online trading platform for Forex, Contracts for Difference and options. It recently became aware of Rocket Consultant Group and that it had accepted funds from a British Columbia resident to trade with the company. The company is not registered to trade in, or advise on, securities or exchange contracts in BC or elsewhere in Canada.

The BCSC urges BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.

The full BCSC warning can be seen here.

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