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Samtrade FX

Operating status: SCAM

Website: https://www.samtradefx.com/

Broker violations and abnormal records
  • Jul 01, 2021 The Monetary Authority of Singapore (MAS) added Samtrade FX to its alert list
    The Singapore MAS added Samtrade FX Limited to its alert list, claiming that the firm is not licensed to provide the investment services. You may visit: https://www.mas.gov.sg/investor-alert-list?page=1&q=Samtrade%20FX%20Limited.
    The Singapore MAS added Samtrade FX Limited to its alert list, claiming that the firm is not licensed to provide the investment services. You may visit: https://www.mas.gov.sg/investor-alert-list?page=1&q=Samtrade%20FX%20Limited.
  • Sep 09, 2021 BrokersView has reviewed that Samtrade FX is an unregulated forex broker
    Samtrade FX claims to be a member of the Financial Commission, but this organization is a dispute mediation agency rather than a regulator approving licenses for forex trading and brokerages. Besides, this broker claims to be owned and operated by S.A.M. Trade (Asia) Pte Ltd, an entity incorporated in Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and regulated by FINTRAC (Financial Transactions and Reports Analysis Center of Canada). However, both SVG FSA and FINTRAC don’t issue any licenses for forex trading or brokerage nor do they regulate, monitor, supervise or license international companies engaging in such activities. So Samtrade FX is currently not regulated by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
    Samtrade FX claims to be a member of the Financial Commission, but this organization is a dispute mediation agency rather than a regulator approving licenses for forex trading and brokerages. Besides, this broker claims to be owned and operated by S.A.M. Trade (Asia) Pte Ltd, an entity incorporated in Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and regulated by FINTRAC (Financial Transactions and Reports Analysis Center of Canada). However, both SVG FSA and FINTRAC don’t issue any licenses for forex trading or brokerage nor do they regulate, monitor, supervise or license international companies engaging in such activities. So Samtrade FX is currently not regulated by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

Disclaimer:

The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.