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Is AutoSmart Trades really legitimate in the US?
James Lucas
United States of America
2024-04-08
ANSWER AutoSmart Trades is not considered legitimate in the US, as it has failed to register as a member of the National Futures Association (NFA).Although it claims to have a business license issued by a US authority, there is no additional evidence to verify its authenticity. The financial services offered by this entity require supervision by the NFA. However, since AutoSmart Trades is not registered with the NFA, it is not regulated by the association.Furthermore, AutoSmart Trades has been detected by the British Columbia Securities Commission (BCSC) for accepting BC residents, resulting in a warning issued by the BCSC. This further underscores the need for caution.Therefore, the services provided by AutoSmart Trades are not recognized as legitimate in the US. It operates as an unlicensed broker, and investors are advised to avoid it. To reduce risks, it is recommended to choose brokers that are fully regulated.
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