The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online trading platform Hengry Global Capital Limited.
According to FCAA, this platform claims to be offering Saskatchewan residents an opportunity to invest and trade in crypto currency, forex, stock indices, shares and commodities through the website www.hengryltd.com. The website of Hengry Global Capital Limited lists an address in Regina, Saskatchewan as its alleged office address.
Hengry Global Capital Limited is not registered to sell or trade securities or derivatives in Saskatchewan. FCAA strongly cautions investors and consumers to not send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses and investors may lose their money.
FCAA advises those who have invested with Hengry Global Capital Limited, or anyone claiming to be acting on their behalf, to contact the FCAA's Securities Division at 306-787-5936.
In Saskatchewan, individuals or companies need to be registered with the FCAA to trade or sell securities or derivatives.
According to an FCAA press release, the registration provisions of The Securities Act, 1988 and accompanying regulations are intended to ensure only honest and knowledgeable people are registered to sell securities and that their businesses are financially stable.
Tips to protect investors:
- 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 https://fcaa/gov.sk.ca/consumers-investors-pension-plan-members/investors.