The Financial and Consumer Services Commission (FCNB) is warning New Brunswickers about investing in USI-TECH Limited (USI).
FCNB recently became aware the company has been contacting New Brunswickers through online classified sites. USI is not registered to trade in, or advise on, securities or exchange contracts in New Brunswick. It is, therefore, illegal for USI to trade in, or advise on, securities or exchange contracts in our province.
This company claims to be an online FOREX (foreign exchange) and Bitcoin trading platform provider, located in Dubai, United Arab Emirates.
USI claims to use automated trading software that allows smaller investors to trade in FOREX and Bitcoin. It also advertises high rates of return and promises a pyramid-like compensation structure to get people to recruit family and friends to invest.
Bitcoin and cryptocurrency trading are receiving a lot of attention lately and are being aggressively hyped in social media and other channels. Consumers should be very cautious about getting involved in these products. Cryptocurrencies are volatile and highly risky.
Consumers are urged not to give into the “Fear of Missing Out” and should do their research and understand what they are getting into before investing. Anyone investing in cryptocurrencies should be aware that they could lose all of their investment.
Anybody who has been approached or targeted to invest in USI is asked to contact the FCNB toll-free at 1-866-933-2222, or through its website at fcnb.ca. Becoming an informed investor is the best way to protect your money. Informed investors don’t leave it to chance. They understand the risks and costs involved with each of their investments.