ANSWER Place A Trade is not a licensed or regulated broker even though it states offers that look good to be true. Place A Trade claims it is the trading name of Focus Markets LLC, a company incorporated in Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) with number 356 LLC 2020.We do find a match result to Place A Trade in SVG FSA. But please be informed that SVG FSA is not a regulatory authority that issues licenses for forex brokers or regulate entities offering forex services.What's more, the Spain regulator Comisión Nacional del Mercado de Valores (CNMV) issued a warning that this firm has not been authorized to provide forex investments and services. You can check the full warning from here.The truth is, Place A Trade is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Place A Trade and trade with licensed brokers.
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