ANSWER A US financial regulatory authority, the Commodity Futures Trading Commission (CFTC), has warned the public of Smpfxtrade.Smpfxtrade marks itself as a multi-regulated broker authorized by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Belize Financial Services Commission (Belize FSC), and the Australian Securities and Investments Commission (ASIC). However, our thorough investigation has uncovered the truth that it not only copied licensing data of real companies that have no connection to it but also forged license numbers. This means Smpfxtrade is falsely claiming to be regulated to deceive unsuspecting investors.Furthermore, the CFTC has added Smpfxtrade to its warning list for illegal operations. You can view the press release here.In essence, Smpfxtrade is an unlicensed broker. Once your money or personal information are held by this platform, there are no rules in place to safeguard them. Therefore, we strongly suggest investors stay away from unlicensed brokers like Smpfxtrade and instead choose a fully regulated one.
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