OSC warns investors about Blue Sail TradingBy The IJ Staff | September 18 2019 11:00AM
The Ontario Securities Commission (OSC) issued a warning to investors on Sept. 17 that Blue Sail Trading and its associated trading platform, Derivative 360/360Pro (collectively “BST"), are not registered to deal or advise in securities in Ontario.
“BST operates the website bluesailtrading.com and claims to have offices in Costa Rica, Panama, Colombia and Dubai,” says the regulator. “The firm claims to offer brokerage services for trading in precious metals, commodities, shares and indices, and forex through an online trading platform.”
The OSC says that BST has been phoning Ontarians and encouraging them to open online trading accounts even though neither BST nor its representatives are registered in Ontario to solicit investments, provide brokerage services or to provide advice on investing in, or buying or selling securities or commodities.