CatalyXIt Review
Beware Investors CatalyXIt – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Who is CatalyXIt:
CatalyXIt is a website that claims to be a “global leader in online trading” and to offer “access to over 10,000 financial instruments, including forex, stocks, indices, commodities, cryptocurrencies, and more”. The website also claims to have offices in London, New York, Hong Kong, and Dubai, and to provide “professional customer service, advanced trading tools, fast execution, and competitive spreads”.
Regulation Of CatalyXIt:
However, according to the Alberta Securities Commission (ASC), CatalyXIt is not registered or authorized to engage in the business of trading in securities or derivatives in Alberta or any other jurisdiction in Canada. The ASC issued a warning on January 15, 2024, alerting investors that CatalyXIt may be operating illegally and exposing them to significant financial risks. The ASC also advised investors to check the registration status of any firm or individual offering securities or derivatives products or services before investing with them.
Location Of CatalyXIt:
The location of CatalyXIt is also dubious and unclear. The website does not provide any physical address or contact details for its alleged offices, and the domain name is registered anonymously. The website also uses a generic design and content that are similar to other scam websites that have been exposed by regulators and law enforcement agencies around the world.
Services Offered By CatalyXIt:
The services offered by CatalyXIt are also questionable and potentially fraudulent. The website claims to offer various types of accounts, platforms, tools, and educational resources for traders of different levels and preferences. However, these features may be misleading or nonexistent, and the actual trading conditions may differ significantly from what is advertised. For example, the website claims to offer zero commissions, low spreads, and high leverage, but these may be used to lure unsuspecting investors into depositing large amounts of money and then preventing them from withdrawing their funds or closing their positions.
Reviews Of CatalyXIt:
The reviews of CatalyXIt are also suspicious and unreliable. The website features several testimonials from allegedly satisfied customers who praise the platform for its performance, security, and support. However, these testimonials may be fabricated or paid for by the operators of the website, and they do not reflect the real experiences of actual users. Moreover, there are many negative reviews and complaints about CatalyXIt on various online forums and platforms, where users report being scammed, defrauded, or harassed by the representatives of the website.
Customer Service Of CatalyXIt:
The customer service of CatalyXIt is also poor and unprofessional. The website claims to offer 24/7 support via phone, email, and live chat, but these channels may be unresponsive or ineffective. Users report being ignored, lied to, or pressured by the customer service agents of CatalyXIt, who may use aggressive or abusive tactics to persuade them to deposit more money or to prevent them from withdrawing their funds or closing their accounts.
Securing Your Investments Against Unscrupulous Brokers:
If you have invested with CatalyXIt or any other unregistered or unregulated entity, you may be at risk of losing your money or becoming a victim of identity theft or other crimes. Therefore, it is important to take some steps to secure your investments and protect yourself from further harm. Some of these steps are:
– Contact your bank or credit card company immediately and report the transaction as fraudulent. You may be able to reverse the charge or block further payments.
– File a complaint with the ASC or your local securities regulator. They may be able to investigate the matter and take action against the perpetrators.
– Report the incident to the police or other relevant authorities. They may be able to track down the criminals and recover your money.
– Seek legal advice from a reputable lawyer who specializes in securities law. They may be able to help you recover your losses or sue the offenders.
– Educate yourself about the signs and risks of online trading scams. You can find useful information and resources on the websites of the ASC, the Canadian Securities Administrators (CSA), and other reputable organizations.
Conclusion:
CatalyXIt is a platform that claims to offer various services related to securities and derivatives trading, but it is not registered or regulated by any authority. It may be operating illegally and exposing investors to significant financial risks. Therefore, we advise you to avoid dealing with CatalyXIt or any other similar entity and to follow the steps outlined above if you have already invested with them.
