The Alberta Securities Commission (ASC) is issuing an investor alert about Bforex, an offshore company that claims to be an online, over-the-counter broker specializing in the trading of foreign currency and commodities. The ASC has received information that Bforex has solicited Albertans to invest, even though the offshore company is not registered with the ASC to sell securities, is not a reporting issuer in Alberta and has not made any filings with the ASC. Bforex appears to be based out of the British Virgin Islands and lists contact information in seven countries on its website.
The ASC reminds Albertans of the following red flags when offered an online investment opportunity:
- Guaranteed high returns, no risk
- High pressure sales tactics to invest right away
- Tax-free and offshore
- Website content is full of jargon, or contains spelling or grammatical errors
- Lack of quality information or indication of who is offering the opportunity
Quebec’s Autorité des marchés financiers has also issued a caution alerting investors to this company’s unauthorized activities.
Canadian securities regulators have issued an Investor Watch related to foreign currency exchange (Forex) trading that highlights the significant risks related to this type of investment.
Anyone who has knowledge about this investment offering is asked to contact ASC Public Inquiries at 403-355-4151, toll free 1-877-355-4488 or email inquiries@asc.ca.
The Alberta Securities Commission (ASC) is the regulatory agency responsible for administering the province’s securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors.
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For further information please contact:
For Media Inquiries: Mark Dickey
Senior Communications Advisor
403-297-4481
For Investor Inquiries: ASC Public Inquiries
403-355-4151
Toll Free 1-877-355-4488