Investor Alert: uTrader falsely claims affiliation with Fortrade and CIRO registration

Be an informed investor - Protect yourself against fraudulent schemes

TORONTO, Sept. 26, 2025 /CNW/ -– The Canadian Investment Regulatory Organization (CIRO) is warning investors about uTrader, a fraudulent firm operating through the website [utrader[.]ca] that has been falsely claiming affiliation with Fortrade Canada Limited, a legitimate CIRO-registered firm, and falsely claiming registration with CIRO.

uTrader falsely claims that it is operating under Fortrade Canada Limited on its website and misuses the company's real address. It also claims to be a Member of CIRO and misuses the "Regulated by CIRO" logo on its homepage.

Investors should be aware that uTrader has no affiliation with Fortrade Canada Limited and is not a Member of CIRO. Its use of the CIRO logo to claim registration is unauthorized.

To Protect Yourself Against Fraud:

• Be aware that fraudsters frequently impersonate legitimate registered firms. Therefore, investors should directly confirm with the registered financial institution that they are dealing with the actual registrant. Report suspicious activities where unregistered entities either claim to be regulated by CIRO or work for CIRO to CIRO immediately.
• Avoid sharing personal or financial information without confirming the legitimacy of the request.

CIRO remains committed to protecting investors and providing resources to address fraudulent activities. For more information on identifying and reporting scams, visit the CIRO website.

Please note that investors can confirm with CIRO's Complaints & Inquiries team to verify the legitimacy of anyone claiming to represent CIRO. All individuals and firms registered to offer financial advice in Canada are listed on the National Registration Search of the Canadian Securities Administrators (CSA).

CIRO's Office of the Investor provides resources to help Canadians avoid investment fraud and protect their financial well-being. See Avoiding Fraud and Protecting Your Investments on CIRO's website for additional information.

If you believe you have been a victim of this or a similar scam, immediately contact your bank, local police, your provincial securities commission, and the Canadian Anti-Fraud Centre. If there are claims of CIRO regulation or the fraudster claims to work for CIRO, please also report it to CIRO.

Please direct all other inquiries to our Complaints & Inquiries team:

1-877-442-4322 (Canada/US),
800-555-2323 (Outside Canada/US),
or by completing our Secure Contact Form

About CIRO

The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.

SOURCE Canadian Investment Regulatory Organization (CIRO)