Investment Caution List: 14 New Additions

Investment Caution List: 14 New Additions

The British Columbia Securities Commission (BCSC) added 14 companies to the Investment Caution List.

The list identifies unregistered securities trading activity and unqualified securities promoted in, or purporting to be sold from British Columbia (B.C.). The BCSC relies on information from the public and other agencies when identifying and adding new entities to the list.

Many of the entities in this blog post claim to have offshore offices and purport to operate a variety of investment businesses or trading platforms focusing on trading foreign exchange (forex), cryptocurrency, commodities, contracts for difference, and binary options.

None of the companies we discuss in this blog post are registered to trade in, or advise on securities or exchange contracts in B.C.  We urge B.C. residents to exercise caution when dealing with companies that are not registered to trade or advise in the province.

BCSC staff became aware of two companies purporting to be forex and commodities traders: Sterling and Ross S.A. and Truevalue Investment International Limited.

Sterling and Ross S.A., a company that claims to have an office located in the Cayman Islands, engaged with a B.C. investor and instructed the individual to send money to a bank account in Costa Rica. Truevalue Investment International Limited claims to provide sophisticated forex, bullion, and commodities trading solutions. It purports to be based in both London, England and Abu Dhabi, UAE.  It also claims to be regulated by the Bank of England. BCSC staff became aware of Truevalue Investment and that its representative solicited a B.C. resident to conduct a trade in securities.

Capital Currency Trade, Blue Trading, iqtrade 24, and United Financial Commodity Group, operating as United FCG (UFCG), came to the attention of BCSC staff when it was reported that B.C. residents received unsolicited offers to trade with the companies. Capital Currency Trade claims to be an online forex and cryptocurrency trading platform provider. Blue Trading claims to be a full service managed account trading firm that offers trading in forex, commodities, and cryptocurrencies. B.O. Tradefinancials Ltd. claims to operate iqtrade24, an online binary options trading platform provider. UFCG claims to be a commodities trading consultancy firm, offering an online trading platform for forex, cryptocurrencies, and other securities.

BCSC staff became aware that each of the following companies accepted funds from separate B.C. residents: Coperstone Ltd., ForexGrand, Rocket Consultant Group Ltd, Swift Bit Options Ltd., and Astercap Ltd. (d.b.a. Broker Official).

Coperstone Ltd. claims to be an online forex and contracts for difference trading platform provider. ForexGrand claims to provide an online trading platform for forex, stock indices, commodities, and other securities. Rocket Consultant Group Ltd. claims to provide an online trading platform for forex, contracts for difference, and options. Swift Bit Options Ltd. claims to be a broker that offers investment accounts to trade in binary options, cryptocurrencies, forex, contracts for difference, options, and other investment products. Astercap Ltd. (doing business as Broker Official) claims to provide an online trading platform for forex and contracts for difference.

Three further additions to the Investment Caution List were: Eyeline Business Development/Eyeline Trading, Binary Banc & Ten Options, and Financial Global Partners.

Eyeline Trading, the marketing company for Eyeline Business Development, claims to provide Bitcoin trading packages that promise a daily return of 0.66%. BCSC staff became aware of Eyeline Trading and found its advertisement targeting B.C. residents. Financial Global Partners, claims to be an equities research firm. It solicited a B.C. resident and provided investment advice to trade in securities. Binary Banc & Ten Options claims to provide an online trading platform for binary options. Binary Banc solicited a B.C. resident in connection with an alleged advance fee scheme.

An advance fee scheme occurs when a victim sends funds to someone with the expectation of receiving a greater amount in return. In almost all cases, the victim receives nothing and loses the funds sent.

Report Suspicious Investments to the BCSC

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.

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