ANSWER UeTrades is not a licensed or regulated broker even though it states offers that look good to be true. UeTrades claims to be a reliable broker without presenting any information about its regulation. Lacking regulatory important information may be a distinct signal of an unlicensed broker, as regulated brokers always present their accreditations and licenses in a prominent position. It is a red flag. UeTrades also claims to be a UK-based firm. As per United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK shall be authorized by the United Kingdom Financial Conduct Authority (FCA). However, we did not find any matching results in FCA. More importantly, the Italy Commissione Nazionale per le Società e la Borsa (CONSOB) issued a warning that UeTrades is not authorized to provide financial services. You can check the full warning from here. The truth is, UeTrades 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 UeTrades and trade with licensed brokers.
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