REGINA — The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online trading platform FX Trading Index Limited.
"If an online trading platform is not registered in the province, they have not gone through the diligent process we use to determine that they are legitimate and qualified to sell securities and derivatives to Saskatchewan citizens," FCAA Securities Division Executive Director Dean Murrison said. "Unregistered businesses cannot legally offer investment opportunities in Saskatchewan, so it is imperative to always check the registration status of an entity before you invest."
This platform claims to offer Saskatchewan residents an opportunity to invest and trade in crypto currency and contracts for differences through the website www.fxtradingindexlimited.com. This entity has obtained funds from at least one resident of Saskatchewan.
FX Trading Index Limited is not registered to sell or trade securities or derivatives in Saskatchewan. The FCAA strongly cautions investors and consumers to not send money to companies that are not registered in the province, as they may not be legitimate businesses and you may lose your money.
If you have invested with FX Trading Index Limited or anyone claiming to be acting on their behalf, contact the FCAA's Securities Division at 306-787-5936.
In Saskatchewan, individuals or companies must be registered with the FCAA to trade or sell securities or derivatives. The registration provisions of The Securities Act, 1988 and the accompanying regulations are intended to ensure that only honest and knowledgeable people are registered to sell securities and that their businesses are financially stable.
Tips to protect yourself:
- Always verify that the person or company is registered to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrations' National Registration Search.
- Know exactly what you are investing in. Make sure you understand how the investment, product, or service works.
- Get a second opinion and seek professional advice about the investment.
For more investor protection information, visit Financial and Consumer Affairs Authority of Saskatchewan (gov.sk.ca).