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Advantrade

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Operating status: SCAM

Website: https://www.advantrade.net/

Broker violations and abnormal records
  • 2022-08-09 BrokersView has Reviewed that Advantrade is an Unregulated Forex Broker

    Advantrade is not a reliable broker for traders. Advantrade claims it is a one-stop trading app co-developed by Topical Wealth International Ltd (Top Wealth) and ET FinTech Pty Ltd, two companies with different authorization and regulations.

    Topical Wealth International Ltd (Top Wealth) holds a license issued by the Seychelles Financial Services Authority (Seychelles FSA) and authorized by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) with an MSB license.

    ET FinTech Pty Ltd is regulated by the Australian Securities & Investments Commission (ASIC).

    First, please be informed that FINTRAC is not a regulatory body that issues licenses for forex trading or regulates entities engaging in forex services.

    Second, we indeed find a match result to Top Wealth in Seychelles FSA. But as per the details shown on Seychelles FSA, the approved domain of Top Wealth is "https://www.topicalwealth.com". That means Advantrade has no connection with Top Wealth since the former's domain is not the one registered in Seychelles FSA.

    Third, we also find a match result to ET FinTech Pty Ltd in ASIC. But there are no representatives named "Advantrade" of this firm shown on ASIC.

    The truth is that Advantrade is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    Advantrade is not a reliable broker for traders. Advantrade claims it is a one-stop trading app co-developed by Topical Wealth International Ltd (Top Wealth) and ET FinTech Pty Ltd, two companies with different authorization and regulations.Topical Wealth International Ltd (Top Wealth) holds a license issued by the Seychelles Financial Services Authority (Seychelles FSA) and authorized by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) with an MSB license.ET FinTech Pty Ltd is regulated by the Australian Securities & Investments Commission (ASIC).First, please be informed that FINTRAC is not a regulatory body that issues licenses for forex trading or regulates entities engaging in forex services.Second, we indeed find a match result to Top Wealth in Seychelles FSA. But as per the details shown on Seychelles FSA, the approved domain of Top Wealth is "https://www.topicalwealth.com". That means Advantrade has no connection with Top Wealth since the former's domain is not the one registered in Seychelles FSA.Third, we also find a match result to ET FinTech Pty Ltd in ASIC. But there are no representatives named "Advantrade" of this firm shown on ASIC.The truth is that Advantrade is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

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