Released on March 17, 2023
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entity CA Trade Capital LLC. This entity claims to offer Saskatchewan residents an opportunity to invest in cryptocurrencies, forex, and contract for differences through the online website https:// catradecapitol com (this url was manually altered so as not to be interactive).
"Our advice to Saskatchewan investors is to always do as much due diligence as possible to ensure they are dealing with legitimate entities and individuals," FCAA Executive Director of the Securities Division Dean Murrison said. "One simple way to do that is to confirm that they are registered with the FCAA as required by law."
CA Trade Capital LLC 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 CA Trade Capital LLC 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