Released on April 12, 2023
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entity Atomic Trade Limited.
"Saskatchewan residents who are considering retail and DIY investment opportunities should make sure that they are dealing with legitimate entities by checking their registration status," Financial and Consumer Affairs Authority Executive Director Dean Murrison said. "It only takes a few minutes to confirm that an investment seller is appropriately registered, and it can prevent someone from falling victim to illegitimate operators."
This entity claims to offer Saskatchewan residents an opportunity to invest in cryptocurrencies, currencies, stocks and commodities through the website https:// atomictrade io (this link was manually altered so as not to be interactive).
Atomic Trade Limited is not registered to trade or sell securities or derivatives in Saskatchewan. The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses.
If you have invested with Atomic Trade Limited or anyone claiming to be acting on their behalf, contact the FCAA's Securities Division at 306-787-5936.
In Saskatchewan, individuals or companies need to be registered with the FCAA to trade or sell securities or derivatives. The registration provisions of The Securities Act, 1988 and 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 Administrators' 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.
- Do not allow unknown or unverified individuals to remotely access your computer.
For more information, contact:Margherita Vittorelli
Financial and Consumer Affairs Authority