Ever watchful Canadian provincial financial markets regulator, the Ontario Securities Commission (OSC), has issued a warning to potential investors relating to Chikara FX, a Japanese brokerage which operates via the website www.chikarafx.com and provides offshore commodities and futures.
The OSC states that Chikara FX is is not registered in Ontario, Canada to engage in the business of trading in securities or advising anyone with respect to investing in, buying or selling securities.
The address of the firm is Shibuya Hills, 7F Fuji Building 40, 15-14 Sakuragaokacho, Shibuya-ku, Tokyo, 150-0031, Japan.
Unusually, the website of Chikara FX appears entirely in English, which is not the norm for Japanese FX brokerages, which are very Japan-centric and appeal to a majority Japanese client bases, just as Japanese clients are very loyal to domestic FX brokerages.
In order to read the official announcement from the OSC, click here.