ANSWER DirecTrader is an unlicensed broker and should be avoided at all events. DirecTrader claims to be registered in Saint Vincent and the Grenadines, but we didn't find any matching results in the registers of Saint Vincent and the Grenadines' Financial Services Authority (SVG FSA). Besides, the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate or license international companies engaging in such activities. So DirecTrader is not regulated by any financial regulator. That means investors' funds in this broker are unsafe and cannot be protected by any laws. Therefore, it is thoroughly a scam.What's worse, the Spain's regulator CNMV has added DirecTrader to its alert list to warn the public that this firm is not authorised to provide the investment services in the country. You can check the full alert or warning here.We would recommend traders stay away from unregulated brokers like DirecTrader and trade with licensed brokers.
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