Reported as a scam / unregulated
Why Regina Forex is on the register
Regina Forex claims it was founded in 2010 with more than 10 years of industry experience. However, when we check on the Internet, we found it was newly established in 2021. It is a red flag here. The broker claims to be registered in Canada and seems to be a legit, licensed brokerage by showing its registration(license number M21068549) with MSB, which refers to the Canadian FINTRAC license. Well, it’s not! As you may know, FINTRAC has no power to authorise FX brokers, so Regina Forex Limited is just registered as a transaction reporting entity. That is to say, the entity falsely claims to be a licensed broker. This is another scam red flag here. In fact, for a Canadian forex company, if Regina Forex wants to call itself a licensed broker, it needs to get authorised by the Investment Industry Regulatory Organization of Canada (IIROC), which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Based on the information, we can conclude Regina Forex provides traders with forex trading services but it lacks any kind of regulation. Therefore, it is a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.