The British Columbia Securities Commission (BCSC), one of the thirteen provincial financial regulators in Canada, added forex and cryptocurrency trading company Capital currency trade to its warning list on Monday.
According to the statement, the watchdog recently became aware of the company and that it had made an unsolicited offer to trade on its platform to a British Columbian resident.
In British Columbia, cryptocurrencies can be considered as securities under the securities legislation. As a result trading in or advising on them may require registration.
Capital currency trade
Capital currency trade claims to be a well-established forex and cryptocurrency trading company registered in the United Kingdom. It offers an investment platform for both retail and institutional traders.
According to the company’s website, it provides: “a full-service specialist in Forex and Crypto Currency trading coupled with superior trading conditions and lightning-fast execution.
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“We have been in existence for several years rendering unparalleled Forex and Crypto Currency trading platform. Our reputation remains a pride to us; thus putting every professional tactic in place to give you the best trading dealings. You can always trade with; we have you covered.”
The BCSC has blacklisted capital currency trade because it is not registered to trade in, or advise on, securities or exchange contracts in British Columbia. It has also not filed a prospectus or an exempt distribution report.
Capital currency trade operates through (www.capitalcurrencytrade.com). It is registered at Sutton Yard, 65 Goswell Road, London EC1V 7EN, United Kingdom.
In its warning, the BCSC urges investors to be careful when dealing with companies that are not registered to trade or advise in British Columbia or are selling unqualified securities.
The watchdog also reminds consumers that they can visit its InvestRight website to be better informed on investment products and services, cryptocurrencies and ICOs.
The BCSC is the independent provincial government agency responsible for regulating securities trading in the Canadian Province of British Columbia through the administration of the Securities Act.