ALTAIR says they only charge commission on profits, is that true? and is it regulated?

https://www.altairic.com/

Dear Investor,

We strongly advise against trading with ALTAIR , as it does not hold a legitimate broker licence.

It claims to be registered in St. Vincent and the Grenadines. Upon researching this, we found that the name matches what is recorded on the Financial Services Authority in Saint Vincent and the Grenadines (SVG FSA) website.

However, please note that Altair is only registered with the SVG FSA. This registration merely grants it International Business Company (IBC) status, which is NOT a valid financial licence. Furthermore, the SVG FSA has publicly stated that it neither regulates nor licences forex trading activities. This means that investments in companies registered with the SVG FSA are not fully safeguarded.

Additionally, Altair does not reveal that it has obtained any other major licence, which could pose a serious risk to its investors. We therefore strongly advise you to avoid engaging with this broker in order to protect your money.