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Investor Alert: CryptoFXPro

Released on January 18, 2023

The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entity CryptoFXPro.

This entity claims to offer Saskatchewan residents an opportunity to invest and trade forex, commodities, contracts for differences, cryptocurrencies, and options through the online website https://www.cfprogroup.com.

"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."

CryptoFXPro 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 CryptoFXPro 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.

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For more information, contact:

Margherita Vittorelli
Financial and Consumer Affairs Authority
Regina
Phone: 306-798-4160
Email: margherita.vittorelli2@gov.sk.ca

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