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Ava Trade Ltd. Resolves Matter; Agrees To Pay Investors Back

Released on June 25, 2019

The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) has approved a settlement ( with Ava Trade Ltd., an overseas business that admitted to violating securities laws through the use of its online trading platform.  Ava Trade Ltd. will voluntarily pay back more than $140,000 to Saskatchewan investors and a $7,500 administrative penalty.

According to the settlement, from 2015 to 2018, Ava Trade hosted an online trading platform, allowing users to open accounts to speculate in various securities and derivatives.  The settlement details that 40 Saskatchewan investors, who used the platform during this time, lost $143,573.69.  While the settlement states that there was no dishonesty alleged, Ava Trade did admit to breaching registration requirements, and has agreed to make all Saskatchewan investors whole.

“It’s not often we see this level of co-operation from overseas firms, or non-Canadian firms who have an online presence,” FCAA Deputy Director of Enforcement Harvey White said.  “Usually, investors will have a very difficult time retrieving any money sent overseas.  It is for this reason, we caution investors, whenever they are dealing with someone who is selling securities, to check if they are registered in Saskatchewan.  You can check registration by visiting”

Ava Trade has since transferred all of its Canadian clients to a firm that is registered with the securities regulatory authorities across the country.  This firm is a dealer member with the Investment Industry Regulatory Organization of Canada.


For more information, contact:

Shannon McMillan
Financial and Consumer Affairs Authority
Phone: 306-798-4160

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