Norex Trade Advisors
www.norexadvisorsonline.com (link no longer operational)
We recently became aware of the website of Norex Trade Advisors (Norex). On its website, Norex offers a “state of the art trading platform” for trading foreign exchange contracts and options, Contracts for Difference on stocks, and precious metals.
Canadian residents are able to open trading accounts through Norex’s website. According to the account opening documentation posted on the website, the accounts are opened with Fortress Global Markets Sarl (Fortress).
The Financial Services Commission of Gibraltar (FSC) issued a warning about Fortress on July 8, 2013, saying that Fortress is not regulated by the FSC, or licensed to carry on investment business or any other financial services business in or from Gibraltar. The FSC also said that the Register of Companies in Gibraltar has no record of any company by that name.
Norex and Fortress are not registered to trade in, or advise on, securities or exchange contracts in British Columbia.
We urge British Columbia residents to exercise caution when dealing with firms that are not registered to trade or advise in British Columbia.