Warning Investors TLC Investments
Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Introduction To TLC Investments:
TLC Investments is a website that claims to be a leading online trading platform that provides access to global markets, including forex, stocks, commodities, indices, and cryptocurrencies. The website also claims to offer various account types, trading tools, educational resources, and customer support. However, TLC Investments is not registered with the ASC or any other securities regulator in Canada.
Regulation and Compliance Of TLC Investments:
According to the ASC, TLC Investments is not authorized to engage in the business of trading in securities or derivatives in Alberta or elsewhere in Canada. The ASC warns that TLC Investments may be operating illegally or fraudulently and that investors should exercise extreme caution when dealing with unregistered entities. The ASC also advises investors to check the registration status of any person or company offering an investment opportunity using the Canadian Securities Administrators’ National Registration Search tool.
Customer Support Offered By TLC Investments:
The website of TLC Investments provides a phone number, an email address, and a live chat option for contacting their customer support team. However, these contact methods may not be reliable or trustworthy, as they could be used to solicit personal or financial information from unsuspecting investors. Moreover, the customer support team may not be able to resolve any issues or complaints that may arise from using the services of TLC Investments.
Customer Reviews Of TLC Investments:
There are few online reviews of TLC Investments available on the internet, and most of them are negative or suspicious. Some reviewers claim that they have lost money or been scammed by TLC Investments, while others warn potential investors to stay away from this brokerage. Some of the common complaints include difficulty in withdrawing funds, hidden fees and charges, aggressive sales tactics, false promises, and misleading information.
Measures to Avoid Fraud Brokerages Like TLC Investments:
The ASC recommends that investors take the following steps to protect themselves from fraud brokerages like TLC Investments:
– Do your research before investing. Check the registration, background, and reputation of any person or company offering an investment opportunity. Verify the information provided by the brokerage using independent sources.
– Be wary of unsolicited offers or high-pressure sales tactics. Do not let anyone pressure you into making a quick decision or investing more than you can afford to lose. Be skeptical of any claims that sound too good to be true, such as guaranteed returns, low risk, or no fees.
– Understand the risks and costs involved. Read and understand the terms and conditions of any contract or agreement before signing it. Ask questions and seek professional advice if you have any doubts or concerns. Know how much you are paying in fees and commissions, and how they affect your returns.
– Keep records of your transactions and communications. Keep copies of any documents, receipts, confirmations, statements, or emails related to your investment. Monitor your account activity regularly and report any discrepancies or problems immediately.
– Report any suspected fraud or misconduct. If you suspect that you have been a victim of fraud or misconduct by a brokerage or an individual, contact the ASC or your local securities regulator as soon as possible. You can also file a complaint online using the CSA Complaints Portal.
Conclusion:
TLC Investments is a brokerage firm that claims to offer trading services in securities and derivatives. However, the ASC has issued a warning regarding the registration, regulation, and compliance of TLC Investments. Investors should exercise extreme caution when dealing with unregistered and fraudulent brokerages like TLC Investments, as they may pose significant risks to their money and personal information. Investors should also follow the measures suggested by the ASC to avoid fraud brokerages and protect themselves from potential losses.
