Canada's OSC alerts the public of HQBroker, a non-accredited foreign exchange firm

The Ontario Securities Commission (OSC), one of thirteen financial regulatory agencies in Canada, added HQBroker to its list of companies with which it would not do business, according to a regulatory declaration.

HQBroker is the latest entity to be following a growing number of recent complaints about binary options and foreign exchange firms.

The OSC has updated its blacklist of businesses that illegally operate financial services targeting provincial residents to add HQBroker, doing business via its website https://www.hqbroker.com. The firm is not registered in Ontario to trade securities or advise anyone on the investment, purchase or sale of securities.

A brief review of the firm's website reveals that it offers investment services on a wide range of financial instruments. HQBroker does not claim any particular regulatory status in any jurisdiction.

This is not the first time that HQBroker has marked to solicit traders without regulatory approvals. Last year, the Financial Conduct Authority (FCA) issued a warning against the same company to provide forex trading services in the UK without having the required authorization.

The warning follows a similar case highlighted by the OSC in which Nemesis Capital Limited, operating under the name of AlfaTrade, was added to its list of unregulated investment providers.

As a provincial regulator, the OSC seeks to protect investors while promoting equitable and efficient capital markets across the province. The regulator's website provides investors with information, tools and resources, including warnings to investors about individuals and companies that seem to be engaging. in unauthorized activities.