The Securities and Futures Commission (SFC) of Hong Kong today warned the public of several suspicious investment products – namely, Fre
The Securities and Futures Commission (SFC) of Hong Kong today warned the public of several suspicious investment products – namely, Free Guy, “Gold Scalper” and “Gold Champ”.
These products involve automatic trading systems which invest in gold contracts for differences (CFD) and foreign exchange (forex).
The Products have not been authorised by the SFC for offering to the Hong Kong public and are suspected to have breached the Securities and Futures Ordinance (SFO).
The SFC notes that the Products have been promoted through various social media accounts or channels to solicit investments in the Products, claiming to offer high returns in some cases. In one of the cases, problems with fund withdrawal have been reported.
The Products and their related information were posted on the SFC’s Suspicious Investment Products Alert List on 19 February 2024.
The public is warned against investing in any non-SFC authorised investment products. As these products are not regulated by the SFC, their investors have no or very limited protection and may lose all their investments. The SFC once again reminds the public to be cautious and skeptical about “too-good-to-be-true” investment opportunities, and to stay vigilant when making investment decisions.
Investigations are ongoing and the SFC will take all appropriate actions where there is any breach of the law.
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