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Kudotrade

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Operating status: SCAM

Website: https://www.kudotrade.com/#

Broker violations and abnormal records
  • 2024-09-03 BrokersView has reviewed that Kudotrade is an unregulated broker

    It claims to be registered in Saint Lucia, but it is well known that Saint Lucia does not have the right to regulate foreign exchange. In addition, it claims to have an office address in the UAE. Upon investigation, no matching information was found in Central Bank of U.A.E. (CBUAE), Securities and Commodities Authority (SCA) and DuBai Financial Services Authority (DFSA).

    In essence, Kudotrade is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.

    Kudotrade appears to be a scam.

    It claims to be registered in Saint Lucia, but it is well known that Saint Lucia does not have the right to regulate foreign exchange. In addition, it claims to have an office address in the UAE. Upon investigation, no matching information was found in Central Bank of U.A.E. (CBUAE), Securities and Commodities Authority (SCA) and DuBai Financial Services Authority (DFSA).In essence, Kudotrade is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.Kudotrade appears to be a scam.

Related Complaints

Q&A

Kudotrade a reliable platform?

Mark R
Dominica
2024-09-30
ANSWER Dear Investor,No, Kudotrade is not reliable as it is not licensed.This broker claims to be registered in St. Lucia, an offshore center with minimal investor protections where forex trading is not licensed. Additionally, despite its purported Dubai location, it is not registered with any relevant financial regulators.Therefore, we strongly advise against using Kudotrade to protect yourself. For a safer trading environment, we recommend opting for fully regulated brokers instead.
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