Skip to main content

Investor Alert: BEURAX CORPORATION PTY LTD (BEURAX)

FCNB Logo

The Financial and Consumer services Commission (FCNB) recently became aware that BEURAX CORPORATION PTY LTD (BEURAX) is accepting New Brunswick clients. BEURAX is not registered to solicit investments, nor trade in, or advise on, securities or derivatives in New Brunswick.

BEURAX claims to be located in Australia, and to use trading bots for automated cryptocurrency trading, promising 1.4% to 3.5% daily returns. BEURAX also promotes a network marketing business model (commonly referred to as multi-level-marketing) which includes a multi-tiered affiliate program and  referral-based bonus system earned by recruiting more people into the scheme.

BEURAX claims to use trading bots to automate cryptocurrency trading through swaps. Swaps are complex contracts that are usually between large companies and financial institutions. Swaps are generally not suitable for individuals because of the high risks involved. 

Recently, the British Columbia Securities Commission placed BEURAX on its caution list.

FCNB provides these cautionary tips for investors when dealing with crypto-asset trading platforms:

  • Companies and individuals who trade or advise in securities or derivatives with New Brunswick clients without complying with the applicable registration requirements are in breach of New Brunswick’s securities laws. Learn about how registration protects investors and use the National Registration Search tool to check if an individual or firm is registered. 
  • Online investments involving trading in crypto-currencies by unregistered, offshore entities present a significant risk.  You could potentially lose your entire investment, and you may have little recourse if there is a problem with your account.  There is no guarantee that the crypto-asset trading platform will have enough cash or crypto-assets available when you want to make a withdrawal and may refuse to redeem your investment proceeds.   
  • Before entrusting your assets to a crypto-asset trading platform, do your research and watch for red flags. Take the time to learn about their products, operations and approach to risk management. 
  • If you are uncertain or have questions about an investment opportunity, get a second opinion or seek professional advice.

All investments involve some degree of risk and crypto-assets are high-risk investments. Guaranteed returns are also a red flag.  Remember - if it sounds too good to be true – it probably is. 

Subscribe to receive alerts delivered right to your email inbox.