Smart Trade Group claims to be a regulated broker without presenting any information about its regulation. The lack of such important information may be the distinct signal of an unlicensed broker, as regulated broker always present their accreditations and licenses in a prominent position. It is a red flag.
Smart Trade Group also claims it has three offices in the United Kingdom, Canada and Switzerland. As per relevant laws, this broker shall be regulated by three regulators, the United Kingdom Financial Conduct Authority (UK FCA), the Investment Industry Regulatory Organization of Canada (IIROC) and Swiss Financial Market Supervisory Authority (FINMA), to provide financial services in the three contries. However, we searched the three mentioned regulators and found no matching result.
Moreover, the Ontario Securities Commission (OSC) issued a warning that Smart Trade Group is not registered in Ontario to engage in the business of trading in securities. And the Swiss Financial Market Supervisory Authority (FINMA) issued a warning that Smart Trade Group is not entered in commercial register.
Also, the British Columbia Securities Commission (BCSC) issued a warning that Smart Trade Group is not registered to trade in, or advise on, securities or derivatives in BC.
The truth is Smart Trade Group is not regulated by any regulators. Letting this broker hold or control investors money is unsafe and the money can not be protected by any laws. Therefore, it is a scam.
Smart Trade Group claims to be a regulated broker without presenting any information about its regulation. The lack of such important information may be the distinct signal of an unlicensed broker, as regulated broker always present their accreditations and licenses in a prominent position. It is a red flag.Smart Trade Group also claims it has three offices in the United Kingdom, Canada and Switzerland. As per relevant laws, this broker shall be regulated by three regulators, the United Kingdom Financial Conduct Authority (UK FCA), the Investment Industry Regulatory Organization of Canada (IIROC) and Swiss Financial Market Supervisory Authority (FINMA), to provide financial services in the three contries. However, we searched the three mentioned regulators and found no matching result.Moreover, the Ontario Securities Commission (OSC) issued a warning that Smart Trade Group is not registered in Ontario to engage in the business of trading in securities. And the Swiss Financial Market Supervisory Authority (FINMA) issued a warning that Smart Trade Group is not entered in commercial register. Also, the British Columbia Securities Commission (BCSC) issued a warning that Smart Trade Group is not registered to trade in, or advise on, securities or derivatives in BC.The truth is Smart Trade Group is not regulated by any regulators. Letting this broker hold or control investors money is unsafe and the money can not be protected by any laws. Therefore, it is a scam.
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