Beware Investors Maple-dex – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Who is Maple-dex:
Maple-dex is a website that claims to be a “leading global online broker” that offers trading services for forex, stocks, commodities, indices, cryptocurrencies, and other securities and derivatives. According to its website, Maple-dex has over 10 years of experience in the financial markets and provides access to over 250 instruments across multiple asset classes. Maple-dex also claims to have a team of professional analysts, traders, and customer support agents who are available 24/7 to assist clients.
Regulation of Maple-dex:
However, despite its claims of being a reputable and trustworthy broker, Maple-dex is not registered with the ASC or any other securities regulator in Canada. The ASC has issued a warning to investors that Maple-dex is not authorized to issue, offer, or sell securities or derivatives in Alberta or to advise anyone with respect to investing in, buying, or selling securities or derivatives. The ASC also cautions investors that Maple-dex may not comply with the reporting requirements under Alberta securities laws and may not provide adequate investor protection.
Location of Maple-dex:
The location of Maple-dex is also unclear and suspicious. According to its website, Maple-dex is operated by a company called Maple Group Ltd., which is registered in St. Vincent and the Grenadines, a known offshore jurisdiction with lax regulation and oversight. However, the website also provides a phone number with a Canadian area code and an email address with a Canadian domain name. This may indicate that Maple-dex is targeting Canadian investors without having a physical presence or legal status in Canada.
Services offered by Maple-dex:
Maple-dex claims to offer a variety of trading services for different securities and derivatives, such as forex, stocks, commodities, indices, cryptocurrencies, and more. It also claims to provide competitive spreads, fast execution, low commissions, high leverage, and various trading platforms and tools. However, these claims are not verified or backed by any evidence or testimonials from real clients. Moreover, some of the services offered by Maple-dex may be illegal or prohibited in Canada, such as binary options trading and high-risk leveraged trading.
Reviews of Maple-dex:
There are very few reviews of Maple-dex available online, and most of them are negative or suspicious. Some reviewers have reported that Maple-dex is a scam or a fraud that does not allow clients to withdraw their funds or profits. Others have complained about the poor customer service, the lack of transparency, the hidden fees and charges, and the manipulation of prices and trades. Some reviewers have also warned that Maple-dex is not regulated by any authority and may expose clients to legal risks and financial losses.
Customer Service of Maple-dex:
Maple-dex claims to have a dedicated customer service team that is available 24/7 via phone, email, live chat, and social media. However, many clients have reported that the customer service of Maple-dex is unresponsive, rude, or incompetent. Some clients have said that they were unable to reach anyone from the customer service team when they had issues or questions about their accounts or trades. Others have said that they were ignored, lied to, or pressured by the customer service agents to deposit more money or accept unfavorable terms.
Securing Your Investments Against Unscrupulous Brokers:
If you are looking for a reliable and trustworthy broker to trade securities or derivatives online, you should avoid platforms like Maple-dex that are not registered or regulated by any securities authority in Canada. Instead, you should do your due diligence and research before choosing a broker. Here are some tips on how to secure your investments against unscrupulous brokers:
– Check the registration status of the broker with the ASC or other provincial securities regulators.
– Verify the location and contact information of the broker and avoid offshore brokers that may not follow Canadian laws or standards.
– Read the terms and conditions of the broker carefully and understand the fees, commissions, risks, and obligations involved.
– Review the reputation and feedback of the broker from other clients and independent sources.
– Test the customer service and trading platforms of the broker before opening an account or making a deposit.
– Monitor your account activity and statements regularly and report any suspicious or unauthorized transactions.
– Be wary of unsolicited offers or promises of high returns or low risks from unknown brokers.
Maple-dex is a platform that claims to offer trading services for various securities and derivatives online. However, the ASC has warned that Maple-dex is not registered or regulated by any securities authority in Canada and may pose significant risks and dangers to investors. Therefore, we advise you to stay away from Maple-dex and other similar platforms that are not authorized or compliant with Canadian securities laws. Instead, you should look for a reputable and trustworthy broker that is registered and regulated by the ASC or other provincial securities regulators and that can provide you with a safe and secure trading environment.