Wikifx Samtrade

Trade is an unlicensed broker based in australia that offers a range of tradable assets including forex, indices, commodities, futures, and cryptocurrencies. They provide different account types such as standard, vip, ecn, and islamic accounts, with minimum deposits starting at $10. The broker offers leverage of up to 1:1000 and varying spre. Singapores authorities have come down hard on broker samtrade fx with all trading services being suspended and three so far unnamed people with links to the firm arrested. The monetary authority of singapore (mas) and singapore police acted after the brokers name appeared on the investor alert list that the regulator operates.

The commercial affairs department (cad) of the singapore police force and the mas launched the joint investigation into samtrade fx, run by samtrade fx limited, which technically is registered in st vincent and the grenadines. However we understand, as we reported at fng last year, that samtrade is operationally run mainly from singapore. The suspension of samtrade fx's operations by the monetary authority of singapore (mas) has left account holders in uncertainty. Individuals are unable to withdraw funds from their samtrade fx accounts, highlighting the hazards of utilizing an unregulated broker, according to a q&a update from the firm. We refer to the media release by the commercial affairs department of the singapore police force and the monetary authority of singapore (collectively authorities) in relation to investigations into samtrade fx limited, samtrade fx llp and samtrade fx (sg) pte ltd. The full text of the samtrade fx faq statement follows: Faq in relation to media release by commercial affairs department and monetary authority of singapore this faq is intended to answer questions arising from our recent corporate statement in relation to the media release by the cad and mas of. Samtrade fx has become a household name among investors. The reason for this is that the singapore monetary authority has halted the brokerage firm (mas). Because samtrade fx apparently does not have an official license and has not been validated, mas made the decision. Investors are now concerned that they may be unable to make deposits or withdraw funds as a result of the ban.

Investors are now concerned that they may be unable to make deposits or withdraw funds as a result of the ban.