Tierra500 is an unlicensed broker which has been warned by the British Columbia Securities Commission (BCSC) and that we advise against trading with.
Tierra500 claims to be operated by TIERRA GROUP Ltd., a company supposedly located in the UK. As per UK laws, Tierra500 is required to seek authorization from the UK Financial Conduct Authority (FCA) before they can solicit investors. However, our search for the company in the FCA register didn't yield any results. This means Tierra500 has not been regulated by the UK financial watchdog and operates outside the regulatory framework.
Additionally, the BCSC has issued a warning against Tierra500, stating that this broker is not registered to trade in, or advise on, securities or derivatives in BC.
Once your money and personal information are held by Tierra500, there are no rules in place to safeguard them and you are exposed to fraud or theft. That could be financially and personally devastating. Therefore, investors are encouraged to stay vigilant and stay away from unlicensed brokers like Tierra500. To mitigate such risks, a fully regulated broker could be a better choice.
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