Dear Investor,
Prodigy Trading claims to be operated by Prodigy Trading LTD, which is authorised and regulated by the Financial Services Commission (FSC) in Mauritius. We have searched the FSC's licensing register in Mauritius and found a matching company. However, the FSC does not publicly publish this licensee's domain names or websites, which makes it difficult to verify whether the broker in question is genuinely linked to the licensed entity.
Please also note that the Mauritius FSC is considered an offshore regulator with relatively lenient oversight and limited investor protection. This means that holding an FSC licence alone does not provide comprehensive safeguards for your investments.
Furthermore, Prodigy Trading also states that it is licensed in Saint Lucia. However, please note that Prodigy Trading is merely registered with the Saint Lucia International Financial Centre (IFC), which grants it International Business Company (IBC) status. This does not constitute a valid financial licence. The IFC neither regulates nor licenses forex trading activities. This statement is incorrect and needs to be clarified.
Therefore, we recommend that you exercise caution when dealing with this broker. Be sure to conduct thorough due diligence before deciding to invest.
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