I would like to invest in Forex. How can I find a company offering Forex trading in Ontario?
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Our response:
Companies engaging in the business of forex trading (if the investments are securities) are required to be registered as investment dealers. Investment dealers are required to be members of the Investment Industry Regulatory Organization of Canada (IIROC).
You may wish to review the list of Member Dealers on IIROC’s website (www.iiroc.ca) and contact some of the dealers listed to see if they trade in forex. The list of Member Dealers is available at:http://www.iiroc.ca/industry/Pages/Dealers-We-Regulate.aspx.
There is information on the Canadian Securities Administrators (CSA) website about risks of trading in forex.
You can also read about fraudulent forex schemes and other common investment scams in this article.
You can also contact the OSC Inquiries & Contact Centre for more information.