The Ontario Securities Commission, the largest financial regulator in Canada, has issued a warning regarding offshore cryptocurrency and forex broker FXBITMARKET Limited, operating from website

The OSC stated that the company, nominally located at 217 Summit Boulevard, Birmingham, AL 35243 USA, is offering investment services on its website but is not registered in Ontario to engage in the business of trading in securities.

The OSC typically issues these kinds of warnings when offshore brokers are targeting Canadian retail traders.

While giving the aforementioned US address on its website, FXBITMARKET also states that “We are a legal company registered in the United Kingdom providing its services to the members all around the world.” However a quick check of company registries in the UK does not have any such company listed.

FXBITMARKET offers different “investment packages” on its site, stating that “FXBITMARKET guarantees you the stable and secured risk free income at best of your selected investment package.”

The company lists on its site that its Director is someone named Joseph Chandler.