Operating status: SCAM
Canfor claims to be a wealthy and reliable broker under strict regulations in Canada. As per relevant law, all forex brokers in Canada should be regulated by the Investment Industry Regulatory Organization of Canada (IIROC). However, we did not find any match results for this broker in IIROC.
Besides, Canfor claims it has branch offices in the United Kingdom, Cyprus, and Singapore. As per this information, we did search several authorities, including:
1) The UK Financial Conduct Authority (FCA);
2) The Cyprus Securities and Exchange Commission (CySEC);
3) The Monetary Authority of Singapore (MAS).
But we did not find any match results for this broker in the above watchdogs' registries. The truth is, Canfor is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.