2016 XForex BCSC warning was issued in July 2016, after which the broker ended in BCSC's exhaustive Investment Caution list. Is XForex a reliable Forex broker?
2016 XForex BCSC warning was issued in July 2016, after which the broker ended in BCSC’s exhaustive Investment Caution list. Is XForex a reliable Forex broker?
XForex is a brand name of XFR Financial Limited. A Cyprus Investment Firm (CIF) authorised and licensed through the Cyprus Securities and Exchange Commission. Morevoer, XFR Financial Limited owns and operates the Forex and CFDs brand names Xtrade and XForex.
2016 XForex BCSC warning
The British Columbia Securities Commission (BCSC) is one of the 13 provincial regulators in Canada. The BCSC reported that a representative of XForex solicited a resident of British Columbia (BC). However, the contracts for difference (CFDs) broker has no authorization to offer this services in BC. Also, the broker is not registered in Canada. Hence, on the 21st of July 2016, the BCSC issued an official warning against XForex.
To attain more information about the 2016 XForex BCSC warning. Look up here the original warning against XForex.