Released on September 19, 2023
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entities TitanTrader and Coins Capital.
TitanTrader claims to offer Saskatchewan residents an opportunity to invest in leveraged cryptocurrency trading, leveraged trading, foreign exchange transactions, commodities and shares of publicly listed companies. This entity claims to offer Saskatchewan residents an opportunity to invest in a variety of products through the online website https:// titantrader net.
Coins Capital claims to offer Saskatchewan residents an opportunity to invest in and receive investment advice related to forex, leveraged accounts, crypto, contracts for difference and spreads on precious metals. Coins Capital may also be carrying on business as Secoya Ltd. Coins Capital claims to offer Saskatchewan residents an opportunity to invest in a variety of products through the online website www coins-capital com.
"If a company is not registered, do not deal with them," Financial and Consumer Affairs Authority Executive Director of the Securities Division Dean Murrison said. "The registration process has one purpose: protecting Saskatchewan investors. Ensure that your money is safe by always checking registration status before you invest."
Neither TitanTrader nor Coins Capital are 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 in TitanTrader or Coins Capital 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