London Police On The Hunt For Shady Binary Options Broker!

FXWorld CEO On The Lamb As Regulators Close In

London police are the hunt for Clint Canning in relation to a number of alleged forex and binary options scams. Canning, CEO of multiple now defunct businesses and perpetrator to several alleged scams, fled the UK sometime in July as police and regulators began to crack down on FXWorld. Canning is suspected of embezzling millions from client accounts along with Eleise Wallace. Wallace is named, along with Canning, as CEO or other high level officer to more than one of Canning’s previous enterprises. The two are now thought to reside in Dubai but no arrests have been made.


In a story originally broken by the Wall Street Journal London police revealed they were investigating alleged frauds and other misconduct at a firm called FXWorld, also known as FXWMA and FXWorld Managed Accounts. The firm offered an elite managed account service for high net worth individuals until closing its doors in mid June. The firm has since gone into bankruptcy leaving investors in the cold. One source told Finance Magnates $1-$2 million in client money was walking through the door each day.


These stories are not limited to forex. The alleged crimes extend to binary options broker Base2Trade. The broker is one of many headquartered in London but registered in a British territory. This one is actually based on Anguilla but according to UK registrar filings not compliant with British law. The most pressing complaint about the company is failure to pay withdrawals.



Base2Trade Shuts; Clients and Staff would not be Paid.

Clients were not the only defrauded of their money. As of last report there are 11 traders along with secretaries and other support staff waiting on pay checks. Canning and Wallace are thought to be married due to evidence found on the internet. The two are seen together in several pictures including one that looks like their wedding. Further evidence includes at least one website where their names are linked together or Wallace list her last name as Canning. FXWorld is no longer servicing clients. Base2Trade’s website is still up although the trading platform is no longer available. A message on the contact page apologizes for disruptions in trading and services and promises to back on line any day.




1. Finance Magnates FX World CEO Fled

2. Finance Magnates London Police Investigating Bankrupt Broker