1. Always conduct your own assessment before buying or selling any stocks
Whether it’s about an investment advisor your friend has been raving about, or ads you’ve been seeing about a certain investment platform, it never hurts to do a background check to find out more. Look them up online, find out more about their investment schemes, or even get a second opinion.
2. Always check the SC’s Investor Alert List before investing
The SC has compiled a list of unauthorised websites, investment products, companies, and individuals that investors should be wary of. If you’re ever suspicious about an investment advisor or platform, you can check the list. Additionally, you can also contact the SC via phone at 03-62048999 or email at [email protected]
3. Be wary when investment advisors approach you via social media and private channels
What should constitute as a major red flag to investors is when investment advisors promote their services via Facebook, Twitter, and Telegram. In most cases, they would require investors to pay a fee to join their private channel for more info and tips. The SC also shared that some of these operators post ‘testimonials’ from their existing subscribers to encourage victims to subscribe to their service.
At the end of the day, the SC is continuously reviewing the investment market and regulations, while also encouraging everyone to be vigilant when it comes to investing.