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MyTradeMate

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Operating status: SCAM

Website: https://www.mytrademate.com/

Broker violations and abnormal records
  • 2023-12-21 The FINMA issued a Warning against MyTradeMate

    On 22 December 2023, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning that MyTradeMate was providing financial services or products without authorisation. You may visit: https://www.finma.ch/en/finma-public/warning-list/mytrademate/

    On 22 December 2023, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning that MyTradeMate was providing financial services or products without authorisation. You may visit: https://www.finma.ch/en/finma-public/warning-list/mytrademate/
  • 2023-12-25 BrokersView has reviewed that MyTradeMate is an unregulated broker

    According to its website, it is located in Switzerland, but upon investigation, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning that MyTradeMate was providing financial services or products without authorisation.

    The truth is that MyTradeMate is not regulated by any regulators. Letting it hold or control investors' money is unsafe, and the money can not be protected by any laws.

    MyTradeMate is a scam.

    According to its website, it is located in Switzerland, but upon investigation, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning that MyTradeMate was providing financial services or products without authorisation.The truth is that MyTradeMate is not regulated by any regulators. Letting it hold or control investors' money is unsafe, and the money can not be protected by any laws.MyTradeMate is a scam.

Related Complaints

Q&A

I don't live in SWITZERLAND, can I trade with MyTradeMate?

Pavlo Demetriou
Greenland
2024-01-19
ANSWER Investors are advised to prioritize forex brokers that are regulated by local authorities, or at the very least, those overseen by financial regulators. This regulatory oversight can offer a degree of protection for investors and ensure compliance with certain regulatory standards.MyTradeMate, an unlicensed trading platform, has been flagged as unauthorized. This should be a compelling reason for investors to steer clear of it. According to the Swiss Financial Market Supervisory Authority (FINMA), MyTradeMate is not commercially registered in Switzerland, making its offerings highly risky (read the FINMA warning here).For a secure trading environment, it is recommended to avoid unlicensed brokers like MyTradeMate and instead opt for fully regulated ones.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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