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TIER TRADES
Operating status: SCAM
Website: https://www.tiertrades.com/
Broker violations and abnormal records
On January 10, 2024, the Financial Conduct Authority (FCA) issued a warning against TIER TRADES, believing this company might be providing financial services or products without proper authorization in the UK. https://www.fca.org.uk/news/warnings/tier-trades
On January 10, 2024, the Financial Conduct Authority (FCA) issued a warning against TIER TRADES, believing this company might be providing financial services or products without proper authorization in the UK. https://www.fca.org.uk/news/warnings/tier-tradesTIER TRADES, a self-proclaimed regulated and reliable forex broker, has been found to be quite the opposite upon investigation.
The company's website lists four license numbers from various financial regulators, seemingly to establish its legitimacy. These include No. 177805 from the Cyprus Securities and Exchange Commission (CySEC), No. HRB 169257B from the Federal Financial Supervisory Authority (BaFin), No. C175894381 from the Mauritius Financial Services Commission (Mauritius FSC), and the SD055 from the Financial Services Authority of Seychelles (FSA Seychelles). The first three licenses are purportedly linked to Tier Trades Ltd, while the last one is associated with TVH Ltd, a company for which TIER TRADES does not provide any information to substantiate a connection. However, our comprehensive verification process has revealed that all these licensing details are baseless, indicating that TIER TRADES is employing deceptive tactics to lure unsuspecting investors.
Furthermore, TIER TRADES asserts that it is based in the UK, where it would need to be authorized by the Financial Conduct Authority (FCA) to operate as a legitimate broker. Yet, it lacks such authorization, and the FCA has even flagged it as an unauthorized firm.
In summary, TIER TRADES is not under the regulation of any governing body, making it a highly risky choice for investors due to the absence of legal protections for their funds. Therefore, it is prudent to conclude that TIER TRADES seems to be a scam. Proceed with caution.
TIER TRADES, a self-proclaimed regulated and reliable forex broker, has been found to be quite the opposite upon investigation.The company's website lists four license numbers from various financial regulators, seemingly to establish its legitimacy. These include No. 177805 from the Cyprus Securities and Exchange Commission (CySEC), No. HRB 169257B from the Federal Financial Supervisory Authority (BaFin), No. C175894381 from the Mauritius Financial Services Commission (Mauritius FSC), and the SD055 from the Financial Services Authority of Seychelles (FSA Seychelles). The first three licenses are purportedly linked to Tier Trades Ltd, while the last one is associated with TVH Ltd, a company for which TIER TRADES does not provide any information to substantiate a connection. However, our comprehensive verification process has revealed that all these licensing details are baseless, indicating that TIER TRADES is employing deceptive tactics to lure unsuspecting investors.Furthermore, TIER TRADES asserts that it is based in the UK, where it would need to be authorized by the Financial Conduct Authority (FCA) to operate as a legitimate broker. Yet, it lacks such authorization, and the FCA has even flagged it as an unauthorized firm.In summary, TIER TRADES is not under the regulation of any governing body, making it a highly risky choice for investors due to the absence of legal protections for their funds. Therefore, it is prudent to conclude that TIER TRADES seems to be a scam. Proceed with caution.
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