Investor Alert: Fake Justin Trudeau Endorsement Used to Promote Unregistered “Eightcap” Platform

Canadian regulators have issued a fresh warning over a financial scam using a high-profile political figure to lure investors. The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) has flagged an impersonation scheme falsely claiming that former Prime Minister Justin Trudeau endorses an online trading platform known as Eightcap or Eightcap Invest.

According to the regulator, scammers are circulating fake social media posts and fabricated news articles designed to mimic legitimate media coverage. These materials falsely suggest that Justin Trudeau supports the platform, in an effort to build credibility and pressure victims into investing.

The entity promotes a wide range of trading products, including stocks, cryptocurrencies, commodities, forex, and indices via contracts for difference (CFDs). However, the FCAA emphasized that Eightcap / Eightcap Invest is not registered to trade or sell securities or derivatives in Saskatchewan, making any solicitation potentially unlawful.

Regulators stressed that lack of registration is a major red flag, as securities laws require firms and individuals to meet strict standards before offering investment services. These rules are designed to ensure that only qualified and financially sound entities can operate in the market.

The alert highlights a familiar pattern in financial scams: the misuse of well-known public figures to create a false sense of legitimacy. Fraudsters increasingly rely on impersonation tactics, including AI-generated content, to scale these campaigns and target retail investors more effectively.

The Financial and Consumer Affairs Authority of Saskatchewan is urging anyone who has interacted with the platform or transferred funds to contact its Securities Division immediately.

BrokersView advises investors to verify registration status before investing, fully understand the products being offered, and avoid making decisions based solely on celebrity endorsements. Authorities also warn against granting remote access to unknown individuals, a tactic often used to facilitate account compromise and unauthorized transactions.

As financial scams continue to evolve, regulators stress that due diligence and skepticism remain the first line of defense against increasingly sophisticated fraud schemes.