REGINA — The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entities known as IPO Capital and SM Trading Centre.
IPO Capital and SM Trading Centre claim to offer Saskatchewan residents trading opportunities, including stocks, cryptocurrencies, forex, indices and commodities. Additionally, IPO Capital claims to offer Contracts for Difference (CFDs) commodities.
This alert applies to the online entities using the websites "https://ipo capital" and "smtradingcentre com" (these URLs have been manually altered so as not to be interactive).
IPO Capital and SM Trading Centre 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.
"The FCAA urges Saskatchewan residents to always check an entity's registration status at aretheyregistered.ca before making an investment," FCAA Securities Division Executive Director Dean Murrison said. "Registration status indicates if a business is legitimate. Only dealing with registered entities is an easy way to protect yourself and keep your investments safe."
If you have invested with IPO Capital or SM Trading Centre 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.
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.
