The British Columbia Securities Commission has issued a Warning against VelocityTradeFX

The British Columbia Securities Commission (BCSC) has just issued a warning against VelocityTradeFX. The BCSC has warned the entire investment community in British Columbia to stay wary of VelocityTradeFX.

As per the regulatory authority from British Columbia, VelocityTradeFX is operating in the region without any authorization. The firm is not at all permitted to provide its financial trading or other financial services/products in British Columbia.

The regulator has communicated that the platform aims to be located in two different locations in two different countries. It has been offering services and products in multiple trading products such as cryptocurrencies, indices, stocks, commodities, and forex.

The firm is not registered to operate in British Columbia, suggesting that it is in breach of the regulatory guidelines to operate in the region. It is not allowed to offer trading services, provide securities/derivatives, or even advise on multiple trading assets.

The British Columbia Securities Commission has therefore intimated the entire investment community in British Columbia not to invest through VelocityTradeFX. As the firm is no longer registered and authorized, it is risky for the investors to rely on making investments through the platform.

Warning against VelocityTradeFX

The British Columbia Securities Commission has announced that VelocityTradeFX is an unregistered online trading service provider. The firm is not registered in British Columbia to operate and offer financial services to the locals.

The firm is not permitted to provide trading services or other kinds of financial services in British Columbia. As the firm is not registered, any services or products it offers are illegitimate, and highly risky.

The investors must not interact with the platform as it can turn out to be a huge loss for the investors from British Columbia. VelocityTradeFX may be involved in running a scam as it is claiming it is registered while it is not.

If the platform is making a false claim about its authorization, there is a high possibility it aims to run a scam. This means that if the investors deposit their funds and savings to the platform, they may end up losing it.

Due to the unregulated nature of the platform, if the funds are lost, it would be impossible to recover the funds. This is the reason why the platform has warned the investors to remain cautious and not let the platform scam them.

VelocityTradeFX is Unregulated

For any firm to operate and provide financial services to the locals of British Columbia, it is important for the firm to be registered through BCSC. However, VelocityTradeFX is not registered through the BCSC, suggesting that it is unsafe to invest through the firm.

The regulator has confirmed that the website has made no contact with them to become a regulated and authorized entity. The firm is not registered at all as it is putting the funds and savings of the investors interacting with it at a great risk.

The firm is unregistered and it can always go down without any accountability or regulatory pursuance. If the investors or the locals of British Columbia end up investing their money into the firm and lose it, recovering the funds would be impossible.

The investors have no regulatory body or guideline protecting their interests if they continue interacting with VelocityTradeFX. Their funds will be lost to the point of no recovery and the regulators will not be able to pursue them at all.

Information about VelocityTradeFX

On the website, VelocityTradeFX claims to be offering multiple trading assets. The top assets it is currently offering include forex, stocks, cryptocurrencies, indices, and commodities.

The website for the firm is https://velocitytradefx.com. The firm claims that it has its offices in Canada and the United Kingdom. The website claims that the Canada address is 100 Adelaide Street West, Toronto, Ontario, M5H 0E2 and the phone number is +14169139532.

The address for the other office is at Lime Street, London, EM3M 7HA, and the phone number is +442045483471. The email address on the website is [email protected].