Smart Trade Group is not a licensed or regulated broker even though it states offers that look good to be true. Smart Trade Group claims to be a regulated broker without presenting any information about its regulation and only mentions that it has three offices in the United Kingdom, Canada and Switzerland.
As per relevant laws, we searched in the following regulatory bodies, including:
1) The United Kingdom Financial Conduct Authority (FCA);
2) The Investment Industry Regulatory Organization of Canada (IIROC);
3) The Swiss Financial Market Supervisory Authority (FINMA).
However, we did not find any match results to Smart Trade Group in the above watchdog's registries.
More improtantly, both the Ontario Securities Commission (OSC) and the Swiss Financial Market Supervisory Authority (FINMA) issued warnings against Smart Trade Group for providing financial services and products without authorization. You can check full warning from OSC and FINMA.
The truth is, Smart Trade Group is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Smart Trade Group and trade with licensed brokers.
評論