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Investor Warning: High-Yield Crypto and Forex Websites

The BCSC is warning investors about websites offering packaged cryptocurrency or forex products.

The British Columbia Securities Commission’s (BCSC) COVID-19 surveillance program has discovered a large number of websites targeting investors with packaged cryptocurrency or forex products that feature common fraud warning signs. These websites are cheap to build, often aggressively promoted on social media, and share two common traits – pre-set investment packages and unrealistic profits.

 

Take Time to Research Investment Offers

Before making an investment, always examine any website offering investments thoroughly and do your own research.  If an investment sounds too good to be true, it probably is.

Look into the company and the people behind it before you invest. Check to see if the person, company, or entity offering the online investment is registered and crosscheck their details with the BCSC’s Investment Caution List. This list identifies unregistered activity or unqualified securities, that we’re aware of, being promoted in the province. If you’re working with an advisor, do a free advisor background check to ensure that they are registered.

Contact BCSC Inquiries with Investment Questions or Concerns

We encourage all British Columbians to contact the BCSC if you think you’ve invested in a scam, or suspect a website or individual is promoting a suspicious investment.

Phone: 604-899-6854 or 1-800-373-6393 (Toll free)

E-mail: [email protected].

You can also file a complaint or submit a tip anonymously using BCSC’s online complaint form.

InvestRight.org is the BCSC’s investor education website. Subscribe to receive email updates from BCSC InvestRight.

More Resources

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