The Financial and Consumer Affairs Authority of Saskatchewan has recently issued an investor warning against CoinRise Ltd. In the warning, the Financial and Consumer Affairs Authority of Saskatchewan has intimated the entire local investment community about the operations and financial offerings of CoinRise Ltd.
As per the warning notice issued by the FCAA, the entire investment community of Saskatchewan has been advised to remain cautious of CoinRise Ltd. The platform is reportedly offering different kinds of online investment opportunities to the investment community in Saskatchewan.
CoinRise Ltd. has claimed it is a regulated as well as a licensed financial service provider in Saskatchewan. The trading platform has portrayed itself being a licensed and authorized financial service providing entity in Saskatchewan.
Warning against CoinRise Ltd.
CoinRise Ltd. has been claiming that it is a licensed financial service providing entity in Saskatchewan. This way, the platform has been luring more and more investors to its platform. The FCAA is concerned about the trading platform portraying itself to be an entity from Saskatchewan. This way, the trading service platform is claiming that it is a trustworthy entity in Saskatchewan so it can attract more investors.
The Financial and Consumer Affairs Authority of Saskatchewan has also shared its concern over the physical address provided by CoinRise Ltd.
CoinRise Ltd. is Unregulated
Ever since CoinRise Ltd. has started operating in Saskatchewan, it has claimed to have been licensed to do so. In reality, CoinRise Ltd. is not a regulated entity, which means it does not have the license to operate as a financial service providing entity in Saskatchewan.
By claiming to be a licensed entity, CoinRise Ltd. has been targeting the investors from Saskatchewan and providing them financial services. This way, the platform has been able to target several investors in Saskatchewan.
However, the FCAA has alerted all the investors in Saskatchewan to be very careful when dealing with CoinRise Ltd. It has been advised by the FCAA that the investors should not invest in a financial service provider that is not regulated or licensed.
According to FCAA, investing in an unregulated financial securities provider is risky and may result in loss of money. If the investors end up investing in CoinRise Ltd., they may end up facing a loss and may not be able to recover their funds.
CoinRise Ltd. is Providing Misinformation
Another concern raised by the Financial and Consumer Affairs Authority of Saskatchewan is the address provided by CoinRise Ltd. on its website. The platform has claimed that its office is based in Regina, Saskatchewan.
By doing this, CoinRise Ltd. has acquired the trust of the investors and it is constantly luring the residents from Saskatchewan.
Reporting CoinRise Ltd. to FCAA’s Securities Division
The FCAA has also gone ahead advising the entire investment community in Saskatchewan to remain watchful of CoinRise Ltd. It is full of risks for investors to invest through a trading service provider such as CoinRise Ltd. that is unregulated and unauthorized.
The FCAA has advised that if any investor from Saskatchewan has invested or is planning to invest in CoinRise Ltd. must report their experience to FCAA. For this particular reason, the FCAA has provided a hotline: 306-787-5936, which directs callers to the Securities Division at the FCAA.
Information about CoinRise Ltd.
CoinRise Ltd. reportedly claims that it provides cryptocurrency investment opportunities to the citizens of Saskatchewan. The support channels offered by CoinRise Ltd. include chat and email. The chat support line can be accessed by accessing the CoinRise Ltd. website (https://www.coinrise.ca/). While the email address for CoinRise Ltd. is support@CoinRise.co.uk.
CoinRise Ltd. reportedly claims high gains to the investors of Saskatchewan if they invest through their platform. CoinRise Ltd. claims that it provides investors with a variety of trading accounts that the investors can choose to trade from. The platform also claims that it provides welcoming bonuses to the investors to lure them.