Continuing its string of warnings against unregulated brokers and other scams targeting retail traders in Canada, Canadian securities regulator the British Columbia Securities Commission (BCSC) has added to its Investment Caution List unregulated offshore broker Truevalue Investment International Limited.
The company operates from websites truevalueinvestmentint.com and truevalueinvestsint.com.
Truevalue Investment claims to provide sophisticated forex, bullion and commodities trading solutions to institutional and private investors. It purports to be based in both London, England, and Abu Dhabi, UAE.
On its website, Truevalue claims to be regulated by the Bank of England. However, we’d note that the Bank of England does not hand out licenses to brokers, that responsibility falls to the UK financial regulator the Financial Conduct Authority (FCA).
The BCSC recently became aware of Truevalue Investment and that its representative solicited a Canadian resident to conduct a trade in securities. Truevalue Investment is not registered to trade in, or advise on, securities or exchange contracts in BC.
The BCSC urges residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.