Canada’s OSC warns of FX Bit Pro and BitFxProSignals
Canadian financial regulator the Ontario Securities Commission (OSC) has issued a warning that FX Bit Pro and BitFxProSignals are not registered to deal or advise in securities in Ontario.
Through their websites fxbitpro.com and bitfxprosignals.com, both companies are offering bitcoin trading and operate as cryptocurrency trading platforms in Ontario.
The regulator noted that both companies falsely claim to have offices in Toronto. Both have produced fraudulent certificates to investors claiming to be authorized, or otherwise licensed or sanctioned by the OSC or by the nonexistent “Securities and Exchange Commission – Toronto, Ontario, Canada”. Neither company is registered in the province of Ontario to trade securities, advise on securities, or otherwise operate exchange services.
The OSC stated that Ontarians who have been approached by FX Bit Pro or BitFxProSignals are advised to contact the OSC Contact Centre
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity.