Regulators from Canada, Britain, Italy and New Zealand have warned against new unregulated investment services.
The British Columbia Securities Commission has warned that Blue Trading is targeting residents of British Columbia without the necessary authorization. Blue Trading is offering managed trading accounts that are supposed to make you money.
The problem is that Blue Trading is obviously targeting clients in regulated markets like Canada or the EU, but is not regulated, therefore it is acting illegally.
The second warning comes from New Zealand’s FMA, it is about the cryptocurrency exchange CoinBig. The regulator says that CoinBig seems to be a scam.
The third warning is about the Forex broker Trade WFX. This broker is allegedly based in Britain, but is not regulated, therefore it is an illegal broker. This is why the FCA has placed it on its blacklist.
And finally, the Italian CONSOB has warned against the infamous and unregulated binary options broker Rbinary.
For any trading we recommend using regulated brokers only.