The Ontario Securities Commission (OSC) is warning investors about an unregistered derivatives trading firm.
The OSC issued a warning to investors on Thursday about solicitations from International Youtrade Investments MA Ltd. and You Trade Holdings Limited (YoutradeFX).
The regulator says that YoutradeFX is soliciting investors to open trading accounts to conduct electronic trades on foreign exchange markets, and to invest in certificates for difference (CFDs) in various assets, such as precious metals, indexes, commodities and stocks.
The commission says that these companies, which are said to be based in the UK and Mauritius, are not registered to sell derivative products in Ontario; and, it calls on investors to check registration before dealing with any company.
Regulators in B.C. and Quebec issued warnings about the same firms back in 2011. The Financial Services Commission of Mauritius suspended International Youtrade Investments’ registration in that country back in September of this year.