The Ontario Securities Commission (OSC) is warning investors that HB Global (HBG) is not registered to deal or advise in securities in Ontario.
HBG operates the website hbglobal.co and claims to offer brokerage services for trading in precious metals, commodities, shares, indices and forex through an online trading platform.
HBG is phoning Ontarians and encouraging them to open online trading accounts. Neither HBG nor its representatives are registered in Ontario to solicit investments, provide brokerage services, or provide advice on investing in, or buying or selling securities or commodities.
Investor warnings about HBG have also been issued by the British Columbia Securities Commission and Financial and Consumer Services Commission of New Brunswick.
Ontarians who have been approached by HBG or its representatives are advised to contact the OSC Inquiries and Contact Centre at 1-877-785-1555 or firstname.lastname@example.org.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at www.osc.gov.on.ca.