On February 9, 2024, the Alberta Securities Commission (ASC) added Luminetrades to its list of entities not registered to trade in or advise on securities or derivatives in Alberta.
The company has been linked to the website luminetrades.com
For a detailed review, you can read the comprehensive LumineTrade Review.
Key Information
Luminetrades is not authorized by the ASC, meaning it operates outside the regulatory framework designed to protect investors.
Engaging with unregistered firms like Luminetrades poses significant risks, as these entities do not offer any assurance of investor protections.
Risks Involved
Investing with unregistered and unauthorized companies involves substantial risks.
These companies often promise high returns with minimal risk, but in reality, investors are likely to face financial losses.
Unregulated operations mean that investors have no legal recourse if something goes wrong.
Recommendations for Investors
- Avoid Unregistered Firms: Refrain from dealing with companies that are not registered with the ASC.
- Verify Registration: Always check if a company is registered to trade in or advise on securities or derivatives. You can verify the registration status of firms or platforms through CheckFirst.ca.
- Stay Informed: Learn about wise investing and how to avoid fraud by visiting CheckFirst.ca.
The ASC strongly advises investors to perform due diligence to protect their financial interests.
If you have been approached by Luminetrades or have invested through their platform, contact the ASC for assistance and further information.
For more details, refer to the official ASC announcement.
By staying informed and exercising caution, investors can better safeguard their assets from potential fraud and high-risk investment schemes.
