Friday, August 17, 2018

Canadian brokers are not in Panama

The Nova Scotia Securities Commission in Canada issued an alert for a firm advertising in :

Investor Alert for 1st Trade Options/First Trade Options

Nova Scotia Securities Commission

May 2, 2018 10:07 AM

The Nova Scotia Securities Commission is alerting investors that 1st Trade Options/First Trade Options is not registered to sell securities in Nova Scotia.

1st Trade Options claims to be a full-service options trading company located in Panama City, Panama. 1st Trade Options and its representatives solicited at least one Nova Scotia resident by telephone to invest. The investor lost money as a result. It also advertises on its website, . 
 If you have been contacted by a representative from First Trade Options, please contact the commission.


Media Contact: David Harrison

No company is registered in the Panama Public Registry, the Panamaemprende Business Registry or the Securities Commission with the name 1st Trade Options or similar.  A report mentions that the outfit has a Panama office at 1st floor Commercial Area of Oceania Business Plaza (which office staff have never seen them) and telephone +5078389514 (which has recording as disconnected).  Another report states that they have a payout company in San Jose Costa Rica international optional Investments (which address is that of a convent )

The Panama Superintendent of Securities has a list of regulated brokerage firms serving locals and foreigners alike in   Some of the firms are more than 50 years old and the best ones are supported by banks with paid-in capital above $10 million.   A prospective investor should consult local experts before investing.

Canadian and Panamanian citizens can resolve investment disputes under the protection of the Canada-Panama Free Trade Agreement of 2009.

More information in:
1st Trade Options 

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