TL;DR: the short answer

BCSC warned on 2021-10-13 that Bitwaxtrade (bitwaxtrade.net), claiming a New Zealand base and a Liverpool, UK office, offers crypto and forex accounts and is not registered to trade or advise in BC.

Scambaba rates Bitwaxtrade critical risk with a risk score of 8.5/10, last verified 2026-10-24.

Key facts

Key risk attributes for Bitwaxtrade
Risk score 8.5 / 10 (Critical Risk)
Status On BCSC Investment Caution List (not registered/recognized in BC)
Category Crypto / Forex Scam
Primary scam vector Unregistered crypto/forex trading accounts
Reported domains
  • bitwaxtrade.net
First listed 2026-10-24
Last verified 2026-10-24

Red flags reported for Bitwaxtrade

  • Says it is based in New Zealand with an office in Liverpool, UK
  • Offers cryptocurrency and forex trading accounts
  • The BCSC states it is not registered to trade in, or advise on, securities or derivatives in BC
  • Accepts BC residents as clients
  • Website bitwaxtrade.net uses a .net domain rather than a country-specific one

Detailed threat analysis

What the BCSC says

The British Columbia Securities Commission (BCSC) added Bitwaxtrade to its Investment Caution List on 2021-10-13. The notice says the firm claims to be based in New Zealand, with an office in Liverpool, UK, and to offer cryptocurrency and forex trading accounts. The BCSC is aware it accepts BC residents as clients and states that "Bitwaxtrade is not registered to trade in, or advise on, securities or derivatives in BC." The website is bitwaxtrade.net. As elsewhere, the BCSC urges caution with unregistered firms and refers readers to InvestRight.

Two countries, one website

The firm names two places, New Zealand and the UK. The BCSC reports these as claims and does not verify them. A multi-country footprint can sound reassuring, but it also makes it harder for a client in Canada to know which regulator would handle a complaint.

Practical guidance

General advice: New Zealand maintains a public Financial Service Providers Register, and the UK has its own regulator register. Search the firm in both; a genuine provider should appear with the same name and contact details it uses on its website. Check whether the site names a legal entity at all. If a complaint would have to go through a foreign court or ombudsman with no Canadian presence, factor that into whether the risk is acceptable. Finally, use a card or bank route that offers dispute rights rather than irreversible transfers.

What to do if you dealt with Bitwaxtrade

  1. 01Search the firm in the New Zealand Financial Service Providers Register and the UK regulator's register.
  2. 02Check whether the website names a legal entity and compare it with those registers.
  3. 03Prefer payment methods that offer dispute rights over irreversible transfers.
  4. 04If you deposited, contact your bank and report to the BCSC and the Canadian Anti-Fraud Centre (1-888-495-8501).
  5. 05Keep every email and the account agreement.

Frequently asked questions

Where does Bitwaxtrade claim to be based?

The BCSC's 2021-10-13 notice says New Zealand, with an office in Liverpool, UK. The regulator does not confirm either claim.

What does Bitwaxtrade say it offers?

Cryptocurrency and forex trading accounts, according to the notice.

Is Bitwaxtrade registered in BC?

The BCSC states it is not registered to trade in, or advise on, securities or derivatives in BC.

Sources

  1. Bitwaxtrade - Investment Caution List, BC Securities Commission, 2021-10-13

This report reflects publicly available information and reported patterns as of 2026-10-24. It is an opinion, not a legal determination. Spot an error or represent this entity? See our editorial and corrections policy.