The OSC has flagged SimpleFx Ltd (s simplefx.com). This is a serious reason to stay away from SimpleFx Ltd (s simplefx.com), since the OSC carefully looks into every broker it issues warnings about. If you have an account with SimpleFx Ltd (s simplefx.com), request a withdrawal. If you are considering whether to open an account with SimpleFx Ltd (s simplefx.com), look for a broker–one with a solid license and reliable reputation.
What Is the OSC?
The OSC stands for the Ontario Securities Commission. This financial regulatory body is responsible for oversight and checking compliance with financial regulations. It oversees financial companies such as insurance agencies, banks, and brokers. If these companies fail to comply with regulations or have no license, the OSC will issue a warning.
What Are Some Problems with SimpleFx Ltd (s simplefx.com)?
The fact that SimpleFx Ltd (s simplefx.com) appears on the OSC’s watch list indicates that it must have at least one of the following serious problems.
It’s likely that SimpleFx Ltd (s simplefx.com) has ambiguous licensing. It may have a weak license that has no oversight, no license at all or it may be operating beyond the confines of its license and it could be offering to trade assets in regions it isn’t authorized to do so.
SimpleFx Ltd (s simplefx.com) may have stretched the truth about the kind of returns its clients get and may have made some guarantees that were beyond its control. Brokers don’t command markets, so there is no way they can promise returns or tout future success. It may also not have been transparent about fees and charges.
Lack of Transparency
There seem to be some missing details about SimpleFx Ltd (s simplefx.com). This is related to its identity, location, contact information, credential, and company history. It’s important to be an open book when dealing with people’s money, but SimpleFx Ltd (s simplefx.com) details seem to fall short.
Lack of access to accounts can’t be justified. Perhaps there are short-term tech problems or security concerns, but charging huge fees for account access or holding up withdrawals for an unlimited time is highly suspicious.
The OSC issues warnings about brokers that have been the subject of many complaints. Since SimpleFx Ltd (s simplefx.com) has been flagged, it’s clear that many customers have complained about unsatisfactory services. These claims have been investigated and validated and can be believed.
Have You Lost Money to SimpleFx Ltd (s simplefx.com)? Talk to Us!
ReportScamOnline experts understand brokers–reliable ones and scam operations. We have researched brokers and have created these reviews to help consumers make the right choice for trading. We recommend that you avoid the scam brokers mentioned here and instead find a reliable and licensed broker. If you have lost money to this broker, contact us and we will launch an investigation that will bolster your claim.