The Financial and Consumer Affairs Authority of Saskatchewan is warning investors of a pair of online entities operating without registration.
CryptoFXPro and Olikriet Capital Limited are both offering Saskatchewan residents an opportunity to invest and trade in a multitude of commodities, options, and cryptocurrencies.
Both entities are not registered to trade or sell securities or derivatives in Saskatchewan.
"Saskatchewan residents must be wary of platforms that offer investment opportunities without being registered," FCAA Securities Division Executive Director Dean Murrison said. "If a platform is not registered, that means the financial regulators have not vetted its legitimacy."
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 CryptoFXPro, Olikriet Capital Limited, or anyone claiming to be acting on their behalf, The FCAA asks that you contact their Securities Division at 306-787-5936.
The FCAA also shared a few 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 Administrators' 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.
- Do not allow unknown or unverified individuals to remotely access your computer.