Canada’s OSC Issues Warnings Against FX Bit Pro and BitFxProSignals

Fazzaco learned that Canadian regulator the Ontario Securities Commission (OSC) is warning Ontario investors that FX Bit Pro and BitFxProSignals are not registered to deal or advise in securities in Ontario.

Taking a look at the companys’ websites, both companies are offering bitcoin and operate as cryptocurrency trading platforms in Ontario.

The Canadian watchdog mentioned both companies falsely claim to have offices in Toronto and have both produced fraudulent certificates to investors claiming to be authorized, or otherwise licenced 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 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 and to review the OSC investor materials available at http://www.osc.ca.