Saskatchewan residents are advised to invest with an online trading platform.
TudoFX claims to offer the ability to invest and trade in stocks, currencies, cryptocurrencies, and derivatives contracts, according to the Financial and Consumer Affairs Authority of Saskatchewan (FCAA).
The FCAA has stated that TudoFX is not registered to sell or trade securities or derivatives in Saskatchewan.
Investors and consumers are warned not to send money to businesses that are not registered in Saskatchewan, as they may not be legitimate businesses.
The FCAA said extreme caution should also be taken by investors and consumers when asked to transfer funds to a foreign country or grant access to a personal computer.
Agency officials said there are steps consumers and investors can take to protect themselves.
They said to know exactly what the investment is and to understand how the investment, product or service works.
Always check that the person or company is registered to sell or advise on securities or derivatives and get a second opinion and seek professional investment advice.
Individuals or companies must be registered with the FCAA to trade or sell securities or derivatives in Saskatchewan.
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