TL;DR: the short answer
BCSC warned on 2021-08-16 that Platinumx Trade (platinumxtrade.com), which says it is US-based and offers crypto trading investment plans, accepts BC clients and is not registered to trade or advise in BC.
Scambaba rates Platinumx Trade critical risk with a risk score of 8.5/10, last verified 2026-10-24.
Key facts
| 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 trading investment plans |
| Reported domains |
|
| First listed | 2026-10-24 |
| Last verified | 2026-10-24 |
Red flags reported for Platinumx Trade
- Says it is located in the United States
- Offers investment plans for cryptocurrency trading
- The BCSC states it is not registered to trade in, or advise on, securities or derivatives in BC
- Accepts BC residents as clients
- Website platinumxtrade.com; the premium metal name suggests exclusivity
Detailed threat analysis
What the BCSC says
The British Columbia Securities Commission (BCSC) published a warning about Platinumx Trade on 2021-08-16. The notice says the firm claims to be located in the United States and to offer investment plans for cryptocurrency trading. The BCSC is aware that it accepts BC residents as clients and states that "Platinumx Trade is not registered to trade in, or advise on, securities or derivatives in BC." The website is platinumxtrade.com. The BCSC urges BC residents to be cautious with unregistered firms and refers readers to InvestRight.
Details not given
The entry names no address and says nothing about returns, fees or complaints. We do not add details the notice does not contain.
Practical guidance
General advice: "investment plans" with named tiers, such as bronze, silver or platinum style packages, are a sales structure to be sceptical of, since higher tiers encourage larger deposits. If a firm says it is in the United States, its securities activity would normally fall under US regulators, and the public broker check tool run by the US industry regulator FINRA lets you search for registered brokers. The same applies to US-based advisers through the SEC's adviser search. If a US-based firm cannot be found there, ask why. Also avoid sending money in ways that cannot be reversed, and be cautious about any request to upgrade your plan to release earlier profits.
What to do if you dealt with Platinumx Trade
- 01If a firm claims a US base, search FINRA BrokerCheck and the SEC adviser search for it.
- 02Check Canadian registration at aboutregistration.ca.
- 03Be wary of tiered plans and requests to upgrade in order to release profits.
- 04If you paid, contact your bank or exchange and report to the BCSC and the Canadian Anti-Fraud Centre (1-888-495-8501).
- 05Keep the plan terms, receipts and wallet addresses.
Frequently asked questions
What does Platinumx Trade say it offers?
According to the BCSC's 2021-08-16 notice, it claims to offer investment plans for cryptocurrency trading.
Is Platinumx Trade based in the US?
The BCSC says it claims to be located in the United States. The regulator does not verify that.
Is Platinumx Trade registered in BC?
No. The BCSC states it is not registered to trade in, or advise on, securities or derivatives in BC.
Sources
- Platinumx Trade - Investment Caution List, BC Securities Commission, 2021-08-16
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.