Epic Trading

January 18, 2022 ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT SEC ADVISORY The instant ADVISORY is prompted by information received by the Securities and Exchange Commission ("Commission") regarding the investment-taking activities of EPIC TRADING . EPIC TRADING , with website, https://www.epictrading.com and Facebook page https://www.facebook.com/EPICtradingPH/ , claims to be an online financial training platform which specializes in Foreign Exchange (FOREX). It offers to provide online training to people who wants to learn the business of FOREX for a monthly fee of One Hundred Thirty-Four Dollars and Ninety-Nine Centavos ($134.99). At first glance, it appears to be a legitimate training platform. However, it advertises an offer to earn lucrative compensation to its members by way of recruitment or referral system. If a person joins EPIC TRADING , he becomes an EPIC SCHOLAR which entitles him to the following services which are mostly online classes: What makes EPIC TRADING appealing to the public is not the business of foreign exchange but the chance to earn weekly and monthly referral fees from recruitment of up to $1,000,000.00. As an Epic Scholar, an individual is entitled to upgrade to an INDEPENDENT BUSINESS OWNER (IBO) by simply recruiting three (3) persons to become an Epic Scholar and by paying an additional Twenty-Four Dollars and Ninety-Nine Centavos ($24.99) . By becoming an IBO, the monthly subscription fee of $134.99 is now waived. In addition, an IBO is entitled to receive income in accordance with the EPIC Compensation Plan , which is basically a typical pyramiding cum Ponzi scheme, i.e. , the more recruits, the higher the compensation: The public is hereby informed that EPIC TRADING is NOT registered as a corporation nor as a partnership. EPIC TRADING is likewise not authorized to offer, solicit, sell or distribute any investment/securities to the public. Such activities require a Secondary License from the Commission. The securities or investment product should likewise be registered with the Commission before it can be offered to the public as provided for by Sections 8 and 12 of Republic Act 8799 or the Securities Regulation Code (SRC). Repeatedly, the public is cautioned that any offer or promise of ridiculous rates of return with little or no risk similar to what EPIC TRADING is offering is an indication of a possible Ponzi Scheme where returns to early investors are likely to be paid out from the investments of new investors and not out of the companies' profits similar to those already flagged by the Commission as scams . Those engaged in such operation tend to close or to shut down operations once they cannot gather enough investments from new investors to fund their schemes. The Commission is continuously reminding the public that the offering and sale of securities in the form of investment contracts using the "Ponzi Scheme" is fraudulent and unsustainable and is NOT A REGISTRABLE SECURITY . The Commission will NOT ISSUE a License to Sell Securities to the Public to persons or entities that are engaged in this business or scheme . Moreover, the Commission does not allow the registration of Foreign Exchange (FOREX) in the nature of Commodity/Financial Futures Contract, Contracts for Difference (CFDs) and other similar highly-volatile and risky derivatives nor their merchants/brokers, as the public trading thereof and pertinent rules governing these securities, remain suspended pursuant to Rule 11 of the 2015 Implementing Rules and Regulations (IRR) of the SRC. In other words, since the Commission has not yet registered a commodity futures exchange, it follows that no commodity futures merchant shall likewise be registered and allowed to solicit investments in commodity futures contracts, otherwise known as leveraged foreign currency contracts or margin trading. It is to be noted that the Commission also previously issued on 27 July 2018, an Advisory regarding FREE TRAINING SEMINARS PROMOTING FOREIGN-REGISTERED ELECTRONIC TRADING PLATFORMS wittingly used a front of illegal offering and/or selling of unregistered securities with the prospect of learning successful strategies in investing and profiting from the above-stated securities using various electronic investment platforms. These electronic platforms are allegedly foreign-registered and are accessible anywhere in the Philippines through the internet. IN VIEW THEREOF , the Public is hereby advised to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of EPIC TRADING . The public is further advised NOT TO INVEST or STOP INVESTING in any investment scheme being offered by the aforesaid entity/individuals. Those who act as salesmen, brokers, dealers or agents of EPIC TRADING in selling or convincing people to invest in the scheme being offered by EPIC TRADING including solicitations and recruitment may be prosecuted and be held liable under Section 28 of the SRC. If adjudged guilty, they can be penalized with a maximum fine of Five Million Pesos (Php5,000,000.00) or penalty of Twenty-One years of imprisonment or both pursuant to Section 73 of the SRC . Also, those who invite or recruit others to join or invest in such venture or offer investment contracts or securities to the public may incur criminal liability, or otherwise be sanctioned or penalized accordingly as held by the Supreme Court in the case of Securities and Exchange Commission vs. Oudine Santos (G.R. No. 195542, 19 March 2014). Should you have any information regarding any investment solicitation by any individuals or group of individuals representing EPIC TRADING , please send your report to the EIPD at [emailprotected] . For information and guidance of the public. Pasay City, January 18, 2022.