Investment Caution List: 11 New Additions

Investment Caution List: 11 New Additions

The British Columbia Securities Commission (BCSC) recently added 11 entities to the Investment Caution List (ICL).

Many of these entities claim to have offshore offices with a variety of investment businesses or trading platforms. They often claim to offer one or more of the following: foreign exchange (forex), cryptocurrency, commodities, contracts for difference (CFDs), or binary options.

We urge BC residents to exercise caution when dealing with companies that are not registered to trade or advise in the province, as well as businesses offering unqualified investments.

 

Unregistered Solicitations

The BCSC became aware of three unregistered businesses that had solicited BC residents to trade with them.

WorldWide CapitalFX (CapitalFX)

CapitalFX claims to be an online binary options, cryptocurrencies, forex, and CFDs trading platform provider.

Stone Capital Partners (SCP) and Bania Technologies Online Ltd. (Bania)

SCP claims to be an online forex, CFDs, stocks, indices, and commodities trading platform provider. Bania claims to be located in Sofia, Bulgaria. It owns and operates SCP’s website.

Unregistered Companies Accepting Funds from BC Residents

The BCSC became aware of five unregistered businesses that each accepted funds for trading from BC residents.

Option888 (Option888), owned and operated by Celestial Trading Ltd.

Option888 claims to be an online forex trading platform provider, and purports to have offices in London, Sweden, Malta, Germany, Holland, Spain and France. According to Option888’s website, Celestial Trading Ltd. owns and operates Option888.

Capital World Market (CWM)

CWM claims to be an online binary options, forex, and CFDs trading platform provider.

Peakoptions24

Peakoptions24 claims to be “one of the leading binary options brokers in the industry, with a high payout of 81% in binary options contracts”. Peakoptions24 also claims to have an office in New York City.

ICG International Commodities Group (ICG)

ICG claims to be a full-service trading and consulting firm, specializing in the commodities markets. ICG also claims to have an office in Rome, Italy.

Unregistered Companies Advertising in BC

BCSC staff recently became aware of 3 businesses that advertised in BC.

Sussex Investment (Sussex)

Sussex claims to be a cryptocurrency broker that offers cryptocurrency trading, initial coin offerings, and trading in its own shares. Sussex also claims to have an office at 1066 West Hastings Street, Vancouver, BC.

Major Options Investment (MOI)

MOI claims to be an online binary options trading platform provider.

Canada Bitcoin Exchange Inc. (CBE)

CBE claims to be a cryptocurrency investment firm, located at 5811 Cooney Road, Richmond, BC. BCSC staff became aware of CBE’s website. CBE claims to offer four “investment plans”, with returns ranging from 3,586% to 7,985% after 24 to 48 hours.

Resources: Stay Informed on Investment Products & Services

For information on how to become better informed about investment products and services: https://www.investright.org

For information on how to become better informed about binary options: http://www.binaryoptionsfraud.ca/

For information on how to become better informed about cryptocurrencies and ICOs: https://www.investright.org/about-investing/what-are-initial-coin-offerings-or-icos/

Report Suspicious Investments to the BCSC

The BCSC relies on information from the public and other agencies when identifying and adding new entities to the list.

You can bring companies or individuals to our attention using the Report a Concern form or by contacting BCSC Inquiries at [email protected]. Remember to keep records in case you need to make a complaint or take legal action.

If you have any concerns about an individual or company offering an investment opportunity, please contact BCSC Inquiries 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 the BCSC’s online complaint form.

InvestRight.org is the British Columbia Securities Commission’s investor education website.