Released on February 14, 2023
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entity eTrade Markets.
This entity claims to offer Saskatchewan residents an opportunity to invest in a variety of products through an online website at https://www etrademarkets net net (This URL has been intentionally altered so as not to be interactive).
"Saskatchewan residents should be very cautious of unregistered platforms that offer investment opportunities," FCAA Securities Division Executive Director Dean Murrison said. "Always check an entity is registered by searching them on aretheyregistered.ca. Registration helps investors know whom to trust and if the entity has been properly vetted."
eTrade Markets 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 eTrade Markets 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:
Financial and Consumer Affairs Authority