Released on May 20, 2022
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online trading platform Infinity4x.
"Saskatchewan residents must be wary of platforms that offer investment opportunities without being registered," FCAA Securities Division Executive Director Dean Murrison said. "If a platform is not registered, that means the financial regulators have not vetted its legitimacy."
This platform claims to offer Saskatchewan residents an opportunity to invest and trade in forex, contract for differences, indices, crypto and shares as well as financial planning through the websites www.infinity4x.io and/or www.infinity4x.com. This entity has obtained funds from at least one resident of Saskatchewan.
Infinity4x is not registered to sell or trade securities or derivatives in Saskatchewan. The FCAA strongly cautions investors and consumers to not send money to companies that are not registered in the province, as they may not be legitimate businesses and you may lose your money.
If you have invested with Infinity4x or anyone claiming to be acting on their behalf, contact the FCAA's Securities Division at 306-787-5936.
In Saskatchewan, individuals or companies must be registered with the FCAA to trade or sell securities or derivatives. The registration provisions of The Securities Act, 1988 and the accompanying regulations are intended to ensure that only honest and knowledgeable people are registered to sell securities and that their businesses are financially stable.
Tips to protect yourself:
- Always verify that the person or company is registered to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrations' National Registration Search.
- Know exactly what you are investing in. Make sure you understand how the investment, product, or service works.
- Get a second opinion and seek professional advice about the investment.
For more investor protection information, visit https://fcaa/gov.sk.ca/consumers-investors- pension-plan-members/investors.
For more information, contact:Lana Guthrie
Financial and Consumer Affairs Authority