I understand it they are a FULL fraud. But I don't understand it: The Canadian authorities like OSC why not do something. Why can operate this company in Canada? OSC does not deal with them because Investtechfx is not registered at them.
It s because the people at the OSC do not spend the day on the internet to see if somebody is operating illegally. They wait that somebody makes a formal complaint. And, even after somebody complains, they are slow because somebody will make an investigation only weeks later. .All you will see is that they will post a warning about InvesttechFX eventually. But I m sure it will happen. Really, it s the trader that must check with them BEFORE they open their trading account if the broker has a licence. It s the only way to be safe. Now, it s sad that you are caught in this situation with a non-regulated broker because you dont get the OSC protection for your capital. You can only hope the police will do something. But even the police needs an international cooperation and some countries dont cooperate.
What happens after some people complain to the OSC and the OSC does an investigation ( slow ) is that they send a " cease and desist " order to the illegal broker to order them to stop operating in Ontario. If the non-regulated broker refuses to obey, they sue them in court.