Etradefxlive claims it is licensed and regulated in several countries, including regulations in the Securities and Investments Commission (SIC) and in the Vanuatu Financial Services Commission (VFSC) with registration number 40356. First, as far as we know, there is no regulator called "SIC". Second, when searching in VFSC, we found the registration number belongs to a company named "Trademax Global Limited". We can't tell whether Etradefxlive has any connection with Trademax Global Limited since VFSC does not provide any details of the licensed firm. It is highly possible that Etradefxlive is a clone firm that falsely uses the regulatory info of a licensed firm.
What's more, Etradefxlive claims it has registration in the Companies House of United Kingdom (CH) with company number: 13209956. Searched the company number in CH, we found it belongs to another company named "CRYPTO STOCK TRADES LIMITED". Besides, CH is the United Kingdom's registrar of companies which has no legit rights to regulate any forex activities.
As per the United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK financial regulator - FCA. Searching in FCA, we only found this broker had already been blacklisted by FCA for providing financial services without authorization. That means Etradefxlive is not regulated by any regulators. Investors' money in this broker is unsafe and cannot be protected by any law. Therefore, it is a scam.
Etradefxlive claims it is licensed and regulated in several countries, including regulations in the Securities and Investments Commission (SIC) and in the Vanuatu Financial Services Commission (VFSC) with registration number 40356. First, as far as we know, there is no regulator called "SIC". Second, when searching in VFSC, we found the registration number belongs to a company named "Trademax Global Limited". We can't tell whether Etradefxlive has any connection with Trademax Global Limited since VFSC does not provide any details of the licensed firm. It is highly possible that Etradefxlive is a clone firm that falsely uses the regulatory info of a licensed firm.What's more, Etradefxlive claims it has registration in the Companies House of United Kingdom (CH) with company number: 13209956. Searched the company number in CH, we found it belongs to another company named "CRYPTO STOCK TRADES LIMITED". Besides, CH is the United Kingdom's registrar of companies which has no legit rights to regulate any forex activities. As per the United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK financial regulator - FCA. Searching in FCA, we only found this broker had already been blacklisted by FCA for providing financial services without authorization. That means Etradefxlive is not regulated by any regulators. Investors' money in this broker is unsafe and cannot be protected by any law. Therefore, it is a scam.
