Canadian regulator OSC has issued a warning against FX broker MetaInvesting
The Ontario Securities Commission (OSC) has issued the warning against another broker MetaInvesting. The OSC induces Canada residents to be more cautious when dealing with companies that don’t have a license or not registered to trade in Canada as it may involve high risks. MetaInvesting is a forex and binary options broker that operates on the website www.metainvesting.com and is not registered in Canada to engage in the business of trading in securities. Company’s website provides UK phone number and address, which should mean that it is located in UK. Although, MetaInvesting is registered on the Marshall Islands, an offshore area. So there are two main biggest concerns: no license and offshore registration that usually are the signs of a fraud. The broker also offers trading binary options, which are forbidden in Canada. There is also the information on the net, that the trading firm is regulated by FINMA (Swiss Financial Market Supervisory Authority), which is a false and deluding fact. The customers reviews about the company are also not satisfying. People who invested with MetaInvesting are not able to withdraw their funds and are harrassed with the phone calls of the broker’s employees asking to invest more. The OSC is trying to get investors attention by issuing warnings about particular companies that aren’t registered to trade or advise in Canada. Those who are interested in investing to similar companies should better check the list of the regulated brokers by OSC or another Canadian regulator IIROC (Investment Industry Regulatory Organization of Canada).