I like cavirtex but the whole Havelock Investments thing scares me into thinking they'll get shut down one day for unregulated securities trading and possible ponzi. Canada laws as shitty as the US now.
Cavirtex has done his legal homework, Havelock look well made and secure,
But anyway, I wouldn't take a GLBSE-Nefario fuckup as reference for an exchange getting shut down.
There is no such thing as legal "homework" in grey areas...
Even something as basic as US-Canadian cross border business = massive cluster****...
Lawyers will take $700/hour and give you conflicting opinions...
Then you are holding the ball when the authorities call.
VTX just moved their web site to Switzerland...
Their Canadian bank accounts will be shut down sooner or later...
Hopefully they can operate like this for another year or two.