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Do Not Take Phone Calls from Trade12

Released on March 28, 2018

The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) has issued a Temporary Cease Trade Order against Trade12, Global Fin Services Limited, and Exo Capital Markets Limited for running an unregistered online platform that allows people to trade binary options (www.fcaa.gov.sk.ca/binaryoptions), contracts for difference, and FOREX (www.fcaa.gov.sk.ca/investmentfraud).

Trade12 has contacted residents of Saskatchewan by phone asking people to open accounts to facilitate trading.  Personal identification is required to open an account.

“People should never give personal information or send money to businesses they do not know,” FCAA Deputy Director of Enforcement Ed Rodonets said.  “Before you conduct any business with a company make sure they are allowed to trade securities in Saskatchewan.  You can check the registration status of any person or company selling investments by using the Canadian Securities Administrators’ National Registration Search database at www.aretheyregistered.ca.”

Trade12 holds itself out as being an international brokerage and operates a trading platform at www.trade12.com.  Trade12 is owned by the UK-based company Global Fin Services Limited, which is in turn a subsidiary of Exo Capital Markets Limited located in the Marshall Islands.

Trade12, Global Fin Services, and Exo Capital Markets are not registered to trade in securities or derivatives in Saskatchewan.  These companies are also the subject of an Investment Caution issued by the BC Securities Commission (www.bcsc.bc.ca/Enforcement/Investment_Caution_List/Trade12,_owned_and_operated_by_Exo_Capital_Markets_Limited_and_Global_Fin_Services_Ltd_/).

Anyone contacted by Trade12, Global Fin Services, or Exo Capital markets should contact the FCAA Securities Division at 306-787-5936.

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For more information, contact:

Shannon McMillan
Financial and Consumer Affairs Authority
Regina
Phone: 3067984160
Email: shannon.mcmillan@gov.sk.ca

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