We recently became aware that HQ Broker is marketing and selling their products and services to New Brunswickers. This company claims to be a secure trading platform for traders and investors in the global foreign exchange industry. HQBroker.com is not registered to trade in, or advise on securities or derivatives in New Brunswick.
According to its website, the company appears to be based in Hong Kong. In May 2018, we sent the company a request for more information about their operations. They did not respond by our deadline.
The FOREX market, also referred to as the Foreign Exchange or FX market, is basically the simultaneous buying of one currency while selling another. Profits and losses depend on the fluctuations in the exchange rate between the two currencies.
If your money is invested in the FOREX market, you may not have been told that the investment is very risky. Consumers considering the FOREX market should do their research and understand what they are getting into before investing. Anyone investing in the FOREX market should be aware that they could lose all of their investment.
We urge New Brunswick residents to exercise extreme caution when dealing with firms that are not registered to trade or advise in New Brunswick.