Currency Trading - AMF cautions investors about Xforex

Investor warnings - News

Montréal – The Autorité des marchés financiers (AMF) is urging Québec investors to be cautious about solicitations from Xforex through ads posted on websites.

Xforex invites investors to trade in currencies (FOREX) and precious metals (gold and silver) from its site at Ads posted on various websites promise returns of up to 480% thanks to the “ongoing forex training program” provided by Xforex. Since no mention is made of terms and conditions for the delivery of currencies and precious metals, the transactions no doubt involve derivatives.

The markets for trading in currencies and precious metals are complex and volatile. They are intended for investors who have the knowledge, time and resources to monitor their portfolios. Investors with less than sufficient knowledge and time available can incur heavy losses.

The website site This link will open in a new window is operated by Ultimass Global Holding, headquartered in the British Virgin Islands. Xforex and Ultimass Global Holding are not registered with the AMF as dealers. Soliciting Québec investors through websites might be in violation of laws administered by the AMF.

Advice for investors

The AMF reminds investors to investigate before investing and to always ensure that the firms and individuals offering to act as intermediaries have the necessary approvals by checking the Register of firms and individuals authorized to practice on the AMF website or calling the Information Centre.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.

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