REGINA — The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entities known as VertexGate and Wiser Investment.
VertexGate and Wiser Investment claim to offer Saskatchewan residents trading opportunities, including stocks, cryptocurrencies, forex, indices and contracts for difference (CFDs). VertexGate also claims to offer commodities.
This alert applies to the online entities using the websites "vertexgate com" and "wiser-investment com" (these URLs have been manually altered so as not to be interactive).
VertexGate and Wiser Investment are not registered with the FCAA to trade or sell securities or derivatives in Saskatchewan. The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses.
If you have invested with VertexGate, Wiser Investment or anyone claiming to be acting on their behalf, 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. The registration provisions of The Securities Act, 1988, and accompanying regulations are intended to ensure that only honest and knowledgeable people are registered to sell securities and derivatives and that their businesses are financially stable.
"Checking registration status at aretheyregistered.ca should be the first step for Saskatchewan residents looking to invest," FCAA Securities Division Executive Director Dean Murrison said. "Checking registration status is a quick and critical step to protect your investments."
Tips to protect yourself:
- Always verify that the person or company is registered in Saskatchewan to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrators' National Registration Search at aretheyregistered.ca.
- 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.
- Do not allow unknown or unverified individuals to remotely access your computer.
