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FRAUD ALERT – Aidan Trading


Aidan Trading claims to provide an online trading platform for forex, forex options, commodities and contracts for difference (CFD).

We recently became aware that Aidan Trading made an unsolicited offer to a New Brunswick resident. Since it is not registered to trade in, or advise on, securities or derivatives in New Brunswick, it is illegal for the company to carry out these activities in the province.

What are forex and contracts for difference (CFDs)?

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.

A CFD is a complex derivative product that is often offered by firms to retail clients through online platforms. CFDs allow investors to speculate on the price movements of an underlying asset (such as a share, index, currency or commodity) without acquiring ownership of the underlying asset.   

If you have been solicited to trade in forex or CFDs, you need to know how to spot a forex or CFD scam.

How to recognize a forex or CFD scam?

Sounds too good to be true: Get rich schemes, including those involving forex, tend to be scams.  Remember, there is no such thing as a “free lunch.”

Heavily promoted:  Forex scams are promoted as an “exciting opportunity” to invest on the foreign exchange (forex) market.  Usually these ads appear in newspapers and on radio, TV or websites. The ads may look legitimate but what usually happens is that your money is not invested in anything.  It is simply stolen by the scam artist. 

Promises of high returns: The scam offers to pool your money in a fund that will be managed by expert currency traders. They guarantee little or no risk and high investment returns. Some scams may hold “purchased” gold (or other valuable currencies) in a “secure vault” and promise to sell it as it increases in value. Most of the time, the gold does not exist. If your money is invested in the forex market, you may not have been told that the investment is very risky and you’re likely to lose some or all of your money.

Training: Promoters will try to get you to sign paperwork, attend trading seminars, or buy software that will unlock the mysteries of the forex market or CFDs. When you respond, sellers or their affiliates may encourage you to invest in a forex or CFD opportunity.

Wire money:  Once they provide you with a contract, they encourage you to wire your money offshore. Be aware that once you transfer funds to a foreign firm, it may be difficult or impossible to get your money back.

What to do if you are targeted?

Anybody who has been approached or targeted to invest in Aidan Trading is asked to contact the commission toll-free at 1-866-933-2222, or through its website at

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