Alert:
A nationwide postal strike or lockout began on November 15, 2024. Dealer Members must take steps to ensure that document delivery requirements prescribed under CIRO Rules continue to be met.
Investor Alerts
CIRO is committed to protecting investors and the integrity of our markets. Our investor alerts caution Canadian investors about potential harmful activity by individuals or organizations.
We issue these alerts to the media and post them on this page and our social media accounts.
Think you've been approached with a fraudulent investment opportunity? Recognize the warning signs.
Investors can confirm investment firms are registered with CIRO.
Investors can also check the background, qualifications, and disciplinary history of investment advisors registered with CIRO by using our free AdvisorReport.
Date: November 1, 2024
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning investors about fraudulent activities involving individuals impersonating CIRO and IIROC by using their logos on fake letters guaranteeing bank deposits to investors. These fraudsters are reportedly connected with a company known as One FX Group/One FX Trading and claiming regulation by CIRO and IIROC to gain the trust of unsuspecting investors.
Relevant Documents: Investor Alert: One FX Group/One FX Trading Fraudulently Impersonating CIRO
Date: October 18, 2024
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by a fraudster impersonating CIRO to launch investment recovery scams. The fraudster, using the name of Marcus Miller and the email address “[email protected]”, is posing as a CIRO/OCRI employee in the Financial & Operations Compliance department, targeting French speaking Canadians. This individual is neither employed by CIRO nor a registrant of any dealer firm regulated by CIRO. No CIRO employee will ever ask for payment from investors. This is an immediate red flag.
Relevant Documents: Investor Alert: CIRO Impersonator
Date: October 9, 2024
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by fraudsters impersonating CIRO and its predecessor IIROC. These fraudsters use the URLs, ciroo[.]ca and iirocc[.]ca, to deceive investors. It is important to pay close attention to the spelling of the domains, as subtle differences are indicative of fraud. Fraudsters may also create email addresses linked to these domains to scam individuals further.
Relevant Documents: Investor Alert: CIRO & IIROC Impersonators
Date: September 27, 2024
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors of the increased frequency of fraudsters impersonating CIRO. These fraudsters claim to be employed by CIRO, sometimes reference CIRO employees and leaders by title and name and use CIRO’s logo.
Relevant Documents: Investor Alert: Uptick in Investment Recovery Scams Impersonating CIRO
Date: September 12, 2024
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by fraudsters claiming to be employed by CIRO who reference a purported transaction conducted through the Blockchair website. The names used by these imposters include George Boris, Aldo Gomez and Lucas Laso. These individuals are not employed by nor otherwise affiliated with CIRO.
Relevant Documents: Investor Alert: Be aware of fraudsters impersonating CIRO, claiming to help investors get their money back
Date: August 15, 2024
Summary:
The Canadian Investment Regulatory Organization (CIRO) is issuing a warning to Canadian investors regarding imposters of QTrade Direct Investing. These imposters use sophisticated websites that mimic or clone QTrade’s name and brand but are not the official company’s website or materials. These imposters also falsely imply affiliations and membership with CIRO.
Investors should be aware that QTrade Direct Investing is a division of Aviso Financial Inc., a registered dealer member with CIRO. QTrade’s official website can be found at qtrade.ca.
Relevant Documents: Investor Alert: Imposters of QTrade Direct Investing
Date: August 14, 2024
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by fraudsters impersonating CIRO to recover funds they claim were lost during an unauthorized or erroneous transaction. The fraudsters use email addresses with the handle @cirocanada.com and a phone number from Alberta. Fraudsters also use fake documents to impersonate CIRO, where they misuse CIRO’s logo and the name of CIRO’s Chief Executive Officer. The documents and communications name Emily Fitz who is not employed nor otherwise affiliated with CIRO.
Relevant Documents: Investor Alert: Be aware of fraudsters misrepresenting themselves
Date: August 1, 2024
Summary:
The Canadian Investment Regulatory Organization (CIRO) is issuing a warning to Canadian investors regarding Wealth-PAL. This entity is falsely claiming affiliations and regulatory endorsements it does not possess.
In documents distributed to investors, Wealth-PAL falsely claims being regulated by the Investment Industry Regulatory Organization of Canada (IIROC) - a predecessor of CIRO.
Relevant Documents: Investor Alert: Wealth-PAL
Date: May 17, 2024
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by fraudsters impersonating CIRO to launch investment recovery scams. The fraudsters use the email address [email protected], posing as CIRO employees to approach investors.
In an investment recovery scam, fraudsters approach individuals who have already fallen victim to a financial scam. They tell victims that they can recover the lost funds for a fee. In some cases, they will ask for remote access to the target’s computer or device. In the end, no funds are returned, more funds are potentially stolen, and the victim is defrauded again.
Relevant Documents: Investor Alert: CIRO Impersonators using [email protected]
Date: May 1, 2024
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by fraudsters impersonating CIRO to launch investment recovery scams. The fraudsters use the email address [email protected], posing as CIRO/OCRI employees, to approach investors using social media platforms such as WhatsApp.
In an investment recovery scam, fraudsters approach individuals who have already fallen victim to a financial scam. They tell victims that they can recover the lost funds for a fee. In some cases, they will ask for remote access to the target’s computer or device. In the end, no funds are returned, more funds are potentially stolen, and the victim is defrauded again.
Relevant Documents: Investor Alert: CIRO Impersonators
Date: April 30, 2024
Summary:
The Canadian Investment Regulatory Organization (CIRO) is issuing a warning to Canadian investors regarding Canada Token Trade. This entity is falsely claiming affiliations and regulatory endorsements it does not possess.
Canada Token Trade's website falsely claims membership with the Investment Industry Regulatory Organization of Canada (IIROC), a predecessor of CIRO and the Canadian Investor Protection Fund (CIPF) and illegitimately uses the IIROC and CIPF logos.
Relevant Documents: Investor Alert: Canada Token Trade
Date: March 15, 2024
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by Wiser Option.
On its website, the company falsely claims to be associated with Wealthforce Inc., which is a dealer member regulated by CIRO. In addition, the website improperly uses the CIRO logo insinuating membership in CIRO and regulatory endorsement.
Wiser Option is not associated with Wealthforce Inc. and is not a CIRO member.
Relevant Documents: Investor Alert: Wiser Option and Wiseroption.io
Date: January 3, 2024
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by noura-benimners.
On their website, noura-benimners.com, the company falsely claims to be regulated by the former Investment Industry Regulatory Organization (IIROC) and a member of the Canadian Investor Protection Fund (CIPF).
Noura-benimners is not regulated by the former IIROC or CIRO, nor is it a member of the CIPF.
All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Unregulated crypto-asset trading platforms are different from regulated marketplaces and may be missing key investor protections.
Relevant Documents: Investor Alert: noura-benimners
Date: October 31, 2023
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by VenDigital Platform.
We are issuing this alert further to a scam we were warning about in May (see Investor Alert: IB Platform, May 8, 2023) and again in August (see Investor Alert: IB Platform is not affiliated with CMC Markets, August 29, 2023).
In communications with investors, VenDigital Platform is implying to be a trading platform regulated by the former Investment Industry Regulatory Organization of Canada (IIROC), and the former Mutual Fund Dealers Association of Canada (MFDA). VenDigital Platform also implies that it is a member of the Canadian Investor Protection Fund (CIPF), by presenting information to investors with regulatory logos and generating fraudulent versions of IIROC’s Advisor Report. VenDigital Platform is not a member of CIRO, nor was it a member of the former IIROC or the MFDA. VenDigital Platform is also not a member of CIPF.
Relevant Documents: Investor Alert: VenDigital Platform (formerly IB Platform)
Date: September 1, 2023
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by TLC Investments (www.tlcinvestments.com).
In email communications with investors, TLC Investments claim that their financial activities are monitored by the former Investment Industry Regulatory Organization of Canada (IIROC), now known as CIRO.
TLC Investments is not regulated by IIROC or CIRO.
Relevant Documents: Investor Alert: TLC Investments
Date: August 31, 2023
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by Mining Better Profits.
On their website, miningbetterprofits.com, the company claims to be an investment dealer regulated by the former Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF). In communications with investors, the company is asking for additional deposits before they would release funds. Mining Better Profits is not regulated by IIROC, now CIRO, nor is it a member of the CIPF.
Relevant Documents: Investor Alert: Mining Better Profits
Date: August 29, 2023
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by fraudsters claiming to be affiliated with CMC Markets Canada Inc.
Further to a scam we have been warned about in May (see Investor Alert: IB Platform, May 8, 2023), IB Platform now falsely claims to be an official branch of CMC Markets Canada, regulated by CIRO. IB Platform is not a member of CIRO, nor is it affiliated in any way with CMC Markets Canada Inc.
Relevant Documents: Investor Alert: IB Platform is not affiliated with CMC Markets Canada
Date: August 24, 2023
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by Sigma Invest (https://sigmainvest.co and https://cfd.sigmainvest.co).
In communications with investors, the company uses falsified documents and claims to be regulated by the former Investment Industry Organization of Canada (IIROC) in a fraudulent “IIROC Advisor Report”.
Sigma Invest is not regulated by IIROC or CIRO. We previously warned investors about Sigma Invest Options Inc. in September 2022 (see Investor Alert: Sigma Invest Options Inc., September 29, 2022).
Relevant Documents: Investor Alert: Sigma Invest
Date: August 11, 2023
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by Time Markets Limited claiming to be financial brokers monitored by the former Investment Industry Regulatory Organization of Canada (IIROC).
On their website (https://www.timemarkets.com/our-regulation), Time Markets Limited claim that they act like a regulated brokerage. In conversations and email communications with investors, Time Markets Limited is falsely claiming to be regulated by and/or monitored by IIROC.
All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Unregulated crypto-asset trading platforms are different from regulated marketplaces and may be missing key investor protections.
Relevant Documents: Investor Alert: Time Markets Limited
Date: July 11, 2023
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by universalaccess.ltd.
On their website, https://universalaccess.ltd, the company falsely claims to be a registered investment dealer of the former Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF).
Universalaccess.ltd is not a member of CIRO and was never registered with IIROC to sell crypto assets, or any other investment products. Universalaccess.ltd accounts are not protected by CIPF.
Relevant Documents: Investor Alert: universalaccess.ltd
Date: July 5, 2023
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by fraudsters claiming to be authorized or affiliated with Finance Standard Commission Canada (FSC Canada) and Wealth Standard Commission Canada (WSC Canada), fictitious regulatory or dispute resolution organizations.
On their websites, fraudsters claim to serve and regulate licensed Canadian brokers and provide dispute resolution services to member brokers’ clients. These websites appear to be credible and reference complaint processing, dispute resolution and providing redress to aggrieved investors.
Relevant Documents: Investor Alert: Fake Regulatory Bodies
Date: June 29, 2023
Summary:
The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by GIS Capital and Quantum AI fraudsters.
In calls with investors, the fraudsters impersonate employees of the Investment Industry Regulatory Organization of Canada (IIROC), a legacy organization of CIRO, and ask investors to provide identity documents and financial details such as copies of ID cards, bank card numbers and other sensitive information. The company also claims to offer trading services in forex, stocks, indices and commodities.
Relevant Documents: Investor Alert: GIS Capital and Quantum AI, IIROC Impersonation Schemes
Date: May 29, 2023
Summary:
New Self-Regulatory Organization of Canada (New SRO) is warning Canadian investors not to be fooled by fraudsters impersonating the former Investment Industry Regulatory Organization of Canada (IIROC) in fraudulent arbitration-related communications. New SRO will never ask you for a copy of your passport, ID card, bitcoin wallet address, or for any funds.
New SRO has noted a spike in impersonation schemes. In communications with investors, fraudsters impersonate regulators, claim to be associated with legitimate firms, or pose as registered individuals. If you suspect anything unusual, always independently verify that the person calling or emailing you is the person they claim to be. Often, the name given is a real individual's name, and the fraud is only revealed by a bogus email domain or phone number. Do not rely on unsolicited information, do your own research online, and contact the individual and the organization directly to confirm it was them who contacted you.
Relevant Documents: Investor Alert: IIROC Impersonation
Date: May 24, 2023
Summary:
New Self-Regulatory Organization of Canada (New SRO) and the Canadian Securities Administrators (CSA) are warning Canadian investors not to be fooled by fraudsters impersonating real investment advisors.
Recently, New SRO has noted a spike in advisor impersonation schemes. In communications with investors, fraudsters claim to be associated with legitimate firms, or pose as registered individuals. If you suspect anything unusual, always independently verify that the person calling or emailing you is the person they claim to be. Often, the name given is a registered individual's name, and the fraud is only revealed by a bogus email domain or phone number. Do not rely on unsolicited information, do your own research online, and contact the individual advisor and the firm directly to confirm it was them who had contacted you.
Fraudsters try to imitate legitimate financial institutions and send fake emails requesting personal or financial information. These are called phishing emails. Make sure you delete phishing emails and do not click on any links. They can carry harmful viruses that may infect your computer and steal your sensitive information.
Relevant Documents: Investor Alert: Advisor Impersonation Schemes
Date: May 8, 2023
Summary:
New Self-Regulatory Organization of Canada (New SRO) is warning Canadian investors not to be fooled by IB Platform a.k.a. IBANK Platform.
In social media advertisements, IB Platform or IBANK Platform is implying they are regulated by the former Investment Industry Regulatory Organization of Canada (IIROC), the former Mutual Fund Dealers Association of Canada (MFDA), and a member of the Canadian Investor Protection Fund (CIPF), by presenting information to investors with regulatory logos and generating fraudulent versions of IIROC’s Advisor Report, which are only issued for individual advisors.
Neither IB Platform nor IBANK Platform is a member of New Self-Regulatory Organization of Canada and was never registered with IIROC or the MFDA to sell any investment products.
Relevant Documents: Investor Alert: IB Platform
Date: April 27, 2023
Summary:
New Self-Regulatory Organization of Canada (New SRO) is warning Canadian investors not to be fooled by Safe-Holdings.com.
The company falsely implies they are regulated by the former Investment Industry Regulatory Organization of Canada (IIROC) and are members of the Canadian Investor Protection Fund.
Safe Holdings is not a member of New SRO and was never registered with IIROC to sell forex or crypto assets, or any other investment products.
Relevant Documents: Investor Alert: Safe Holdings
Date: April 17, 2023
Summary:
New Self-Regulatory Organization of Canada (New SRO) is warning Canadian investors not to be fooled by FinFinity Invest.
Communications sent out by FinFinity Invest falsely claim they are regulated by the former Investment Industry Regulatory Organization of Canada (IIROC), now New SRO.
FinFinity Invest is not a member of New SRO and was never registered with IIROC to trade or sell any investment products.
Relevant Documents: Investor Alert: Finfinityinvest.com
Date: April 13, 2023
Summary:
New Self-Regulatory Organization of Canada (New SRO) is warning Canadian investors not to be fooled by Paytradepro or Storagetemasek.
On their websites, https://www.paytradepro.net/, and https://storagetemasek.com/, the companies falsely claim to be members of the former Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF).
Neither Paytradepro nor Storagetemasek are members of New SRO or CIPF and were never registered with IIROC to sell forex or crypto assets, or any other investment products. Paytradepro and Storagetemasek accounts are not protected by CIPF.
Relevant Documents: Investor Alert: Paytradepro and Storagetemasek
Date: March 20, 2023
Summary:
New Self-Regulatory Organization of Canada (New SRO) is warning Canadian investors not to be fooled by RCE Banque (rcebanque.com).
The company is implying they are regulated by the former Investment Industry Regulatory Organization of Canada (IIROC) by displaying a fraudulent version of IIROC’s Advisor Report.
RCE Banque is not a member of New SRO and was never registered with IIROC to sell forex or crypto assets, or any other investment products.
Relevant Documents: Investor Alert: RCE Banque
Date: March 16, 2023
Summary:
New Self-Regulatory Organization of Canada (New SRO) is warning Canadian investors not to be fooled by Sohocapitalgroup.
On their website, www.sohocapitalgroup.com/, the company is implying they are regulated by the former Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF), by displaying both member logos at the bottom of their homepage.
Sohocapitalgroup is not a member of New SRO and was never registered with IIROC to sell forex or crypto assets, or any other investment products. Sohocapitalgroup accounts are not protected by CIPF.
Relevant Documents: Investor Alert: Sohocapitalgroup
Date: March 2, 2023
Summary:
New Self-Regulatory Organization of Canada (New SRO) is warning Canadian investors not to be fooled by fraudsters falsely claiming to be associated with Citigroup, and using a false URL, 1citigroup.ca.
In communications with investors, an individual posing as Alex Foster claims to be associated with Citigroup (1citigroup.ca). 1citigroup.ca is not affiliated with Citigroup Global Markets Canada inc. or any other Citigroup Inc. affiliate. Always confirm the person calling or emailing you is the person they claim to be. Oftentimes, the name given is a registered individual's name and the fraud is only revealed by a bogus email domain or phone number.
Fraudsters try to imitate a financial institution and send fake emails requesting personal or financial information. These are called phishing emails. Make sure you delete phishing emails and do not click on any links. They can carry harmful viruses that can infect your computer.
Relevant Documents: Investor Alert: 1Citigroup.ca
Date: January 18, 2023
Summary:
New Self-Regulatory Organization of Canada (New SRO) is warning Canadian investors not to be fooled by ToroCoin.io.
In communications with investors, ToroCoin.io has been falsely claiming to be subject to the requirements of the Investment Industry Regulatory Organization of Canada (IIROC).
ToroCoin.io was never registered with IIROC and is not a member of New SRO, formerly IIROC, to sell forex or crypto assets, or any other investment products. All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Investors should know that unregulated crypto-asset trading platforms are different from regulated marketplaces and may be missing key investor protections.
Relevant Documents: Investor Alert: ToroCoin.io
Date: January 5, 2023
Summary:
New Self-Regulatory Organization of Canada (New SRO) is warning Canadian investors not to be fooled by ZtronFX Capital Inc.
On their website, www.ztronfx.com, the company falsely claims to be a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF). ZtronFX Capital Inc is not regulated in Canada and is not a member of IIROC, the CIPF or New SRO.
Additionally, ZtronFX Capital In is not registered in Canada to sell forex or crypto assets, or any other investment products. All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Investors should know that unregulated crypto-asset trading platforms are different from regulated marketplaces and may be missing key investor protections.
Relevant Documents: Investor Alert: ZtronFX Capital Inc.
Date: December 12, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by Emperior-Trade.
On their website, https://www.emperior-trade.com/, the company falsely claims to be a member of IIROC, the MFDA, the MFDA Investor Protection Corporation and the Canadian Investor Protection Fund (CIPF) among various other regulators. Emperior-Trade is not regulated by IIROC or the MFDA and is not a member of the CIPF.
Additionally, Emperior-Trade is not registered in Canada to sell forex or crypto assets, or any other investment products. All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Investors should know that unregulated crypto-asset trading platforms are not the same as regulated marketplaces and may be missing key investor protections.
Relevant Documents: Investor Alert: Emperior-Trade
Date: November 18, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by coinex-miner.
On their website, https://www.coinex-miner.com/, the company falsely claims to be a registered investment dealer of IIROC and a member of the Canadian Investor Protection Fund (CIPF). Coinex-miner is not regulated by IIROC and is not a member of the CIPF.
Additionally, coinex-miner is not registered in Canada to sell forex or crypto assets, or any other investment products. All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Investors should know that unregulated crypto-asset trading platforms are not the same as regulated marketplaces and may be missing key investor protections.
Relevant Documents: Investor Alert: coinex-miner
Date: September 29, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by Sigma invest Options Inc.
On their website https://sigmainvestoptions.com/, the company falsely claims to be regulated by IIROC and protected by the Canadian Investor Protection Fund. Sigma Invest Options Inc. is not IIROC-regulated.
Certain crypto-assets have generated a lot of hype. All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Investors should know that crypto-asset trading platforms are not the same as regulated marketplaces and may be missing key investor protections.
Relevant Documents: Investor Alert: Sigma invest Options Inc.
Date: September 2, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by eTrade Markets.
The company falsely implies IIROC and OSC regulation by using altered/fraudulent documents to solicit investors.
Certain crypto-assets have generated a lot of hype. All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Investors should know that crypto-asset trading platforms are not the same as regulated marketplaces and may be missing key investor protections.
Relevant Documents: Investor Alert: eTrade Markets
Date: September 1, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by Tradestarcapital.
On their website https://tradestarcapital.xyz/, the crypto company falsely claims to be registered and regulated by IIROC and the Securities and Exchange Commission. Tradestarcapital is not an IIROC-regulated firm.
Relevant Documents: Investor Alert: Tradestarcapital
Date: July 11, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by Black Bull Markets.
On their website https://bbcapitalmarket.com/, the crypto company falsely implies IIROC regulation and CIPF coverage by including links to IIROC and CIPF documents on its’ website.
Certain crypto-assets have generated a lot of hype. All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Investors should know that crypto-asset trading platforms are not the same as regulated marketplaces and may be missing key investor protections.
Relevant Documents: Investor Alert: Black Bull Markets
Date: June 10, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by Lucros Financeiros.
Through their website, lucrosfinanceiros.finance, Lucros Financeiros falsely claimed to be an IIROC-regulated crypto-asset trading platform. Lucros Financeiros is not a Canadian IIROC-regulated firm.
Certain crypto-assets have generated a lot of hype. All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Investors should know that crypto-asset trading platforms are not the same as regulated marketplaces and may be missing key investor protections.
Relevant Documents: Investor Alert: Lucros Financeiros
Date: June 3, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by liquidityswap.
On their website https://m.liquidityswap.vip/, the company falsely claims to be an IIROC-regulated crypto-asset trading platform. Liquidityswap is not regulated by IIROC.
Certain crypto-assets have generated a lot of hype. All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges. Investors should know that crypto-asset trading platforms are not the same as regulated marketplaces and may be missing key investor protections.
Relevant Documents: Investor Alert: Liquidityswap
Date: May 6, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by Maxi Capital Ltd.
Investors have reported that Maxi Capital Ltd. (www.maxicapital.group) is making statements, through their representatives, that they are registered with IIROC. Maxi Capital Ltd., which claims to be an overseas crypto-asset trading platform, is not registered in Canada, and is not an IIROC-regulated dealer.
Relevant Documents: Investor Alert: Maxi Capital Ltd.
Date: March 30, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by Unique Binars.
Through their website uniquebinars.io, Unique Binars falsely claims to be registered in Canada with IIROC while, in fact, Unique Binars is not an IIROC-regulated investment firm.
Relevant Documents: Investor Alert: Unique Binars
Date: March 24, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by Ontario Invest.
Through their website https://ontarioinvest.com, Ontario Invest falsely claims to be an IIROC-regulated crypto-asset management and investment company and a registered representative of RBC Direct Investing Inc. Ontario Invest is not an IIROC-regulated investment dealer and not associated with RBC Direct Investing Inc or any other IIROC-regulated firm.
Relevant Documents: Investor Alert: Ontario Invest
Date: February 18, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by the website velocitytradefx.com or by cold callers representing velocitytradefx.
Velocitytradefx.com is falsely representing itself to be the website for and using the logo belonging to Velocity Trade, the parent company of IIROC-registered firm Velocity Trade Capital, when in fact the genuine website is www.velocitytrade.com.
Relevant Documents: Investor Alert: Velocitytradefx.com
Date: February 9, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by Hashminer.io.
Investors have recently contacted IIROC asking about companies that claim to require account insurance through regulatory bodies like IIROC, including companies doing business as Hashminer.io or possibly as SaveFunds-Trading.com.
Relevant Documents: Investor Alert: Hashminer.io
Date: February 4, 2022
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by TradingSpace.
Through their website https://tradingspace.pro, the company falsely claims to be an IIROC-regulated crypto-asset management and investment company. Trading Space is not an IIROC-regulated investment dealer.
Relevant Documents: Investor Alert: TradingSpace
Date: December 23, 2021
Summary:
Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by Elitesfx, also known as Elitefx.
Elitesfx (www.elitesfx.com) is luring investors with promises of quick profits in cryptocurrency trading. When investors try to withdraw funds from their account, Elitesfx claims that their withdrawals are put "on hold" by IIROC and they are required to "upgrade" their accounts.
Relevant Documents: Investor Alert: EliteSFX.com
Date: December 6, 2021
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by the website InteractiveBrokerage.net.
InteractiveBrokerage.net is falsely representing itself to be the website for IIROC-registered firm Interactive Brokers Canada Inc., when in fact the genuine website is interactivebrokers.ca.
Relevant Documents: Investor Alert: InteractiveBrokerage.net
Date: November 4, 2021
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by UnicornFX.
UnicornFX, also known as Unicorn Global Limited, is falsely claiming to be a legitimate foreign exchange broker regulated by IIROC. This unregulated, offshore company is using a forged certificate claiming to be regulated by IIROC. IIROC does not issue certificates to regulated firms.
Relevant Documents: Investor Alert: UnicornFX
Date: September 17, 2021
Summary: Celox.live falsely claims to be an IIROC-regulated online trading broker and uses IIROC's and its legitimate dealer members' information on forms and contracts to entice investors. The company is an offshore, unregulated entity.
Relevant Documents: Investor Alert: Celox.live
Date: August 31, 2021
Summary: The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by Questradeinc.com.
Relevant Documents: Investor Alert: Questradeinc.com
Date: August 27, 2021
Summary: Investors have recently contacted IIROC asking about companies that claim to be regulated by IIROC or improperly using IIROC's name to deceive and gain legitimacy with investors, including companies doing business as:
- Bonds Wealth Limited
- Koorbit Company Limited
Relevant Documents: Investor Alert: Bonds Wealth Ltd and Koorbit Company Ltd
Date: August 17, 2021
Summary: Through their website https://rxdoptions.com, the company claims to offer accounts for trading in cryptocurrency, forex, and binary options.
Relevant Documents: Investor Alert: RxD Options
Date: August 13, 2021
Summary: Through their website https://cryptlogger.com, the company falsely claims to be an IIROC-regulated crypto-asset management and investment company.
Relevant Documents: Investor Alert: Cryptlogger
Date: July 27, 2021
Summary: Fraudsters are impersonating trusted IIROC-regulated institutions through many channels, including genuine-looking phishing websites, high-quality brochures and other investment documents. These fraudulent sites or documents offer and market a fake guaranteed bond fund and GICs with unrealistic investment returns.
Relevant Documents: Investor Alert: Beware of Fake Financial Websites Trying To Steal Your Money
Date: February 8, 2021
Summary: IIROC has received enquiries regarding its decision to cancel trades in Nabis Holdings Inc. (CSE:NAB) between January 27, 2021 and February 2, 2021 (IIROC Notice 21-0022).
Relevant Documents: IIROC statement on Nabis Holdings Inc.
Date: February 1, 2021
Summary: TORONTO - The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) are closely monitoring how extreme price movement of certain stocks may be contributing to volatility in Canada’s capital markets. We will take appropriate regulatory action to protect investors if we identify that abusive or manipulative trading activity may be taking place.
Relevant Documents: Joint statement from the CSA and IIROC on the Recent Market Volatility
Date: January 29, 2021
Summary:
The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by fraudsters attempting to operate as legitimate individuals regulated by IIROC.
IIROC has learned of online advertisements on social media and other websites, targeting Canadian communities, making false claims as IIROC-accredited professionals in binary options and digital asset management.
Binary options cannot be offered or sold to retail investors in Canada. No IIROC dealers are authorized to sell binary options to retail investors in Canada. Investors can confirm the investment firms registered with IIROC.
Investors can also verify the background, qualifications and any disciplinary history of investment advisors registered with IIROC by checking the free AdvisorReport.
The Canadian Securities Administrators provide investor alerts. Investors contacted by anyone offering binary options should immediately report the incident to their provincial or territorial securities commissions.