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Beware of solicitations by Axes LLC

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MONTRÉAL, Feb. 18, 2021 /CNW Telbec/ - The Autorité des marchés financiers (AMF) cautions Québec consumers about solicitations made by Axes LLC, whose website is www.axes.co.

This business purports to be a trading platform offering financial services such as equity, currency and derivatives trading. Axes LLC is not registered with the AMF and is therefore not authorized to solicit investors in Québec.

Investors are generally contacted by phone and quickly directed to the website.

The employees doing the soliciting are often insistent, enticing investors with promotions, then pressuring them to open accounts on their platform so they can take advantage of them.

Account statements may show significant profits when victims check them on the platform. However, when victims try to recover their money, the contact at Axes LLC will use various avoidance tactics while offering them such things as insurance, protection plans or new attractive promotions to get even more money out of them. After some time passes, victims are no longer able to reach the contact or anyone else at Axes LLC. They never recover their investment.

The website www.axes.co is on the AMF's warning list of companies and platforms that illegally solicit consumers in Québec. However, this list is not exhaustive. As illegal platforms using this type of scheme often change their names, the list may not contain the name of every single platform that solicits Quebecers illegally.

The AMF wants to remind the public that offering investments—whether over the Internet, by telephone or in person—is a regulated activity. Any individual or firm promoting an investment product must be registered with the AMF or benefit from a registration exemption. To make sure you're not illegally solicited, check whether the individual or firm who contacted you is on the Register of firms and individuals authorized to practise or call the AMF Information Centre.

The Autorité des marchés financiers is the regulatory and oversight body for Québec's financial sector.

Information:

Media only:
Sylvain Théberge: 514-940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337[
Toll-free: 1-877-525-0337

Website: lautorite.qc.ca
Twitter: @lautorite
LinkedIn: Autorité des marchés financiers (Québec)

SOURCE Autorité des marchés financiers

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View original content: http://www.newswire.ca/en/releases/archive/February2021/18/c3706.html