Investment Caution List: 19 New Additions

The BC Securities Commission’s (BCSC) Enforcement Division has added 19 new entries to the Investment Caution List since our last post in July 2020.

Exercise caution when dealing with firms that are not registered to trade or advise on securities in BC, and when dealing with companies that are not registered to issue securities. Investors should also be wary of companies claiming to have products or services that will prevent, detect, or cure COVID-19.

We encourage you to keep an eye on the BCSC’s Investment Caution List, which identifies unregistered activity or unqualified securities being promoted in the province.

Below are the latest additions to the Investment Caution List.

Unregistered Companies Accepting Funds from British Columbia Residents

The BCSC became aware of six businesses not registered to trade in, or advise on securities or derivatives in British Columbia, that had accepted funds from BC residents for trading.

CryptoTradeSolution

CryptoTradeSolution claims to be located in the UK, and offers investment plans in cryptocurrency trading.

Grand Trade Options (GTO)

GTO claims to be located in Washington, DC, and offers an automated platform that allows investors to earn profits daily with different investment plans in forex and cryptocurrency trading.

Private Investment Banking Company LLC (PIBC)

PIBC claims to be located in New York and offers investment advisory services.

Securities Management Consultants, Inc. (SMC)

SMC claims to be located in New York and offers investment advisory services.

Normancapitalgroup

Normancapitalgroup claims to be located in Australia, and offers an online trading platform through different investment plans to trade in forex.

Forexcoin Options

Forexcoin Options claims to be located in the UK, and offers an online trading platform with access to over 20 investments with the highest ROI available.

Unregistered Companies Accepting British Columbia Residents as Clients

The BCSC became aware of 10 businesses not registered to trade in, or advise on, securities or derivatives in British Columbia, that accepted BC residents as clients.

Cryptofx.club (Cryptofx)

Cryptofx claims to be based in the UK, and provides a trading system for bitcoin.

BITInvests

BITInvests claims to be an investment platform in England that enables online investors to invest in promising companies and start-ups.

Fox-Trade.uk Ltd (Fox-Trade)

Fox-Trade claims to be based in the UK, and provides a fund management system that works with advanced automated artificial trading bots for different crypto portfolios, and offers profits according to chosen terms.

Shanghai Industrial Investment (Holdings) Corporation Ltd. (Inclusive Trading)

Inclusive Trading offers different investment plans for clients to trade Bitcoin.

Genesis Miners Limited (Genesis Miners)

Genesis Miners claims to be based in Britain, and offers investment opportunities in “nanotechnologies” with high financial yield.

Best Trade Profit Limited (Trade-Profit)

Trade-Profit claims to be a British investment company that “works on capital placement in business processes with high financial yield,” and “helps earn stable and fast profit hourly.”

GiroFX

GiroFX claims to be a European Union-regulated broker, and offers an online trading platform that allows investors to earn profits daily with different investment plans in trading forex, commodities, indices and stocks.

Pro-FXTrades Ltd. or Pro-FXTrades.com

Pro-FXTrades Ltd. or ProFXTrades.com (Pro-FXTrades) claims to be based in London, UK. It offers investment plans in cryptocurrencies, stocks, futures and contracts for difference (CFDs).

Mining Vault

Mining Vault claims to be based in the UK and offers short term, high yield investment programs by investing in large cryptocurrencies like Bitcoin, and also in large tech and healthcare companies.

3storich

3storich claims to be located in Toronto, Ontario, and also claims to offer investment plans with different rates of returns in cryptocurrency trading.

Companies Not Recognized as an Exchange or Registered as a Dealer

The BCSC became aware of three businesses that has not been recognized as an exchange or registered as a dealer in British Columbia.

TorexFX 42 Marketing Limited dba TorexFX (TorexFX)

TorexFX offers an online trading platform that BC residents can use to trade in forex and cryptocurrency.

TradeNix

TradeNix claims to have offices in New York and Hong Kong, and offers an online cryptocurrency trading platform to trade and mine in cryptocurrency.

CryptoBravos

CryptoBravos claims to have an office in Chicago, Illinois, and offers an online cryptocurrency trading platform to trade and mine in cryptocurrency.

 

Report a Concern

If you suspect an individual or company is engaging in this type of activity, contact BCSC Inquiries immediately at 604-899-6854 or 1-800-373-6393 or through e-mail at [email protected]. You can also file a complaint or submit a tip anonymously using BCSC’s online complaint form.

Suggested Reading

Investment Caution List: 27 New Additions

Investor Warning: High-Yield Crypto and Forex Websites

Enforcement Roundup – August 2020

More Resources

Spot Investment Scams

The BCSC's Investment Caution List identifies unregistered activity or unqualified securities being promoted in the province.

Researching Public Companies

The BCSC's Investment Caution List identifies unregistered activity or unqualified securities being promoted in the province.