A company which is already on the “black list” of the Autorité des marchés financiers seems to take advantage of the enthusiasm around amateur stock marketers to solicit consumers by encouraging them to invest in the stock market.
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The excitement surrounding the soaring action of EB Games (GameStop) and the influence that amateur stock marketers have had on the action through apps like Robinhood has highlighted the increased popularity for the game. day trading.
However, in recent months, a dubious company has taken advantage of this wave by soliciting by telephone potential Quebec investors to get them to place their money on the stock market.
This is the case with Axes, a company which is currently on the “blacklist of websites illegally soliciting investors”, but which is nevertheless very active in Quebec. The newspaper was able to access a telephone interview with a company agent and witness the pressure exerted on potential clients.
A call from Chicoutimi
From the first seconds of the unsolicited call from Chicoutimi, according to the caller ID, the agent on the phone offers to take advantage of a promotion that allows you to invest a “small capital of $ 100”.
“You buy when it’s low and you sell when it goes up,” explains the man with the strong accent. In one day, it will generate a profit of $ 20 or $ 40. “
In less than two, a supervisor who says she has “the right to practice in Canada and Quebec” takes over to create an account and download the exchange platform.
“I’ll show you how you’re doing manager […], then we will change your password, ”says the one named Anne Berger.
A two-week trial period is then offered during which “you will work with a professional depending on the opportunities that the software presents to you, when you can buy and at how much you can sell”.
The pressure to invest is felt throughout the call. “The most important thing for you is to secure a place now,” the woman said when she felt the investor slip through her fingers. “Really, it’s a little complicated, there”, she adds exasperated.
For the co-founder of Hackfest Patrick Mathieu, this approach is a fraud “which has existed for decades”. The fraud is based on “the sense of urgency and the emotion: to make money fast”, he explains.
On the side of the Financial Markets Authority (AMF), Sylvain Théberge argues that “since the pandemic, the demand is more important”.
Although Axes.co is on the AMF’s blacklist, Mr. Théberge recalls that it is a “volatile sector” of companies which “disappear in order to return better”.
The Canadian Anti-Fraud Center also claims to have had a report against Axes. “The victim deposited the money, and possibly their trading has been emptied, ”says one without providing precise figures on the number of files.
Confronted, during a second call, about the presence of Axes on the AMF’s blacklist, supervisor Anne Berger said: “It’s not because we are not affiliated with the AMF. ‘AMF that we are not serious companies “, before adding” the AMF has its own reasons “.
To convince you
“ With $ 100, you are allowed, with the market trend, to generate between two and five dollars per day. It’s already something, don’t you think? “
“ It must be recognized that the AMF does not cover all the territories of the world. In Canada, it is she who regulates; elsewhere, it is other companies that regulate. “
– Supervisor Anne Berger
What they said
“ Frauds are made very sophisticated, even more so in the context of a pandemic ”
– Sylvain Théberge, financial market authority
“ The approach is standard, you have to get on board right away because you will miss the boat ”
– Patrick Mathieu, co-founder of Hackfest