Be an informed investor - Don't be fooled by fraudsters misrepresenting themselves
February 18, 2022 (Toronto, Ontario) – The Investment Industry Regulatory Organization of Canada (IIROC) is warning Canadian investors not to be fooled by the website velocitytradefx.com or by cold callers representing velocitytradefx.
Velocitytradefx.com is falsely representing itself to be the website for and using the logo belonging to Velocity Trade, the parent company of IIROC-registered firm Velocity Trade Capital, when in fact the genuine website is www.velocitytrade.com.
Some fake websites look nearly identical to the trusted institution's website with the same logo, brand, and likeness; others copy legitimate websites but change the firm's name and contact details. Always reach a dealer's website through a reliable source like IIROC's Dealers We Regulate page or compare and confirm you are using the correct URL.
Victims of this type of scam should contact their local securities regulator.
Canadian investors should always confirm investment firms are registered with IIROC or with the CSA.
Investors can also check the background, qualifications and any disciplinary history of investment advisors registered with IIROC by checking the free AdvisorReport.
IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 174 Canadian investment dealer firms of varying sizes and business models, and their more than 31,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces. For more information, visit www.iiroc.ca.