red warning flag on a stormy beach

The Nova Scotia Securities Commission (NSSC) is warning investors about an unregistered online trading platform offering everything from forex to crypto.

The NSSC has issued an alert about LeadingPips, which claims to be regulated and based in Nova Scotia, the regulator said.

The NSSC said the company — which offers online trading in forex, binary options and crypto assets — isn’t registered to sell securities. It also warned that the firm has some of the common indicators of an investment scam.

“LeadingPips’ website raises a number of red flags characteristic of investment scams,” said Stephanie Atkinson, acting director of enforcement at the NSCC, in a statement.

“LeadingPips claims its accounts are guaranteed and profits will be quickly realized with no risk. Remember, if something seems too good to be true, it probably is,” Atkinson said.

The regulator called on investors to “exercise extreme caution” when dealing with unregistered firms.