The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) is warning investors of EliteFx Trader Inc.

EliteFx Trader Inc. is an online trading platform offering Saskatchewan residents a way to invest and trade in securities and derivatives through its online website, elitefxtrader.com.

EliteFx Trader Inc. is not registered in Saskatchewan, and that is a requirement for selling securities and derivatives in the province. EliteFx Trader Inc. is allegedly based in Chicago, Illinois, and has been in contact with Saskatchewan residents.

FCAA strongly cautions investors and consumers to not send money to companies located outside of Canada that are not registered in Saskatchewan, as they may not be legitimate businesses and you may lose your money.

Residents should also be cautious if you are approached by an organization that claims they can recover any of your investments that were sent to unregistered entities such as EliteFx.