Cana (canamrs.com) has been flagged by Australian Securities and Investments Commission for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Cana (canamrs.com) is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
If you are reading this considering Cana (canamrs.com) - run. I wish I had read more negative reviews when my bank disappointed me and I searched for alternatives. I thought the positive ones were real. Maybe some are. My experience over for close to eighteen months has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Multi-device support|Comprehensive tools
Cons: Wait times can be long during peak hours|Spreads widen during volatile periods
I closed a profitable position at Cana (canamrs.com) and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Risk management tools|Multi-device support|Economic calendar|Social trading features
Cons: Wait times can be long during peak hours|Alert system is basic
I was about to invest with Cana (canamrs.com) but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Australian Securities and Investments Commission has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Flagged by Australian Securities and Investments Commission|Cannot verify credentials