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Samtrade FX

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Operating status: SCAM

Website: https://www.samtradefx.com/

Broker violations and abnormal records
  • 2021-07-01 The Monetary Authority of Singapore (MAS) added Samtrade FX to its alert list
    The Singapore MAS added Samtrade FX Limited to its alert list, claiming that the firm is not licensed to provide the investment services. You may visit: https://www.mas.gov.sg/investor-alert-list?page=1&q=Samtrade%20FX%20Limited.
    The Singapore MAS added Samtrade FX Limited to its alert list, claiming that the firm is not licensed to provide the investment services. You may visit: https://www.mas.gov.sg/investor-alert-list?page=1&q=Samtrade%20FX%20Limited.
  • 2021-09-09 BrokersView has reviewed that Samtrade FX is an unregulated forex broker
    Samtrade FX claims to be a member of the Financial Commission, but this organization is a dispute mediation agency rather than a regulator approving licenses for forex trading and brokerages. Besides, this broker claims to be owned and operated by S.A.M. Trade (Asia) Pte Ltd, an entity incorporated in Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and regulated by FINTRAC (Financial Transactions and Reports Analysis Center of Canada). However, both SVG FSA and FINTRAC don’t issue any licenses for forex trading or brokerage nor do they regulate, monitor, supervise or license international companies engaging in such activities. So Samtrade FX is currently not regulated by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
    Samtrade FX claims to be a member of the Financial Commission, but this organization is a dispute mediation agency rather than a regulator approving licenses for forex trading and brokerages. Besides, this broker claims to be owned and operated by S.A.M. Trade (Asia) Pte Ltd, an entity incorporated in Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and regulated by FINTRAC (Financial Transactions and Reports Analysis Center of Canada). However, both SVG FSA and FINTRAC don’t issue any licenses for forex trading or brokerage nor do they regulate, monitor, supervise or license international companies engaging in such activities. So Samtrade FX is currently not regulated by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.

Related Complaints

Q&A

Is Samtrade legit? Do they have good reviews from traders?

Masa
Indonesia
2022-03-01
ANSWER Samtrade FX is not a legit broker and should be avoided at all events. Samtrade FX claims to be a member of the Financial Commission, but this organization is a dispute mediation agency rather than a regulator approving licenses for forex trading and brokerages. Besides, this broker claims to be owned and operated by S.A.M. Trade (Asia) Pte Ltd, an entity incorporated in Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and regulated by FINTRAC (Financial Transactions and Reports Analysis Center of Canada). However, both SVG FSA and FINTRAC don't issue any licenses for forex trading or brokerage nor do they regulate, monitor, supervise or license international companies engaging in such activities. So Samtrade FX is currently not regulated by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. What's worse, the Singapore regulator MAS has added Samtrade FX to the alert list to warn the public that this firm is not authorised to provide investment services. You can check the full alert here.Our final verdict is that Samtrade FX is thoroughly a scam since it's not authorised by any financial regulator. We would advise you to stay away from this broker and any other unregulated brokers as your funds in such shady brokers can not be guaranteed. If you've deposited funds in this broker, try to withdraw your money as soon as possible. If you failed to withdraw your money, you'd better report to your local authority.
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I've been reading bad news about Samtrade FX recently, I worry about my funds in my trading account under them. Will I be able to withdraw my funds?

Hammad
Pakistan
2022-02-24
ANSWER Samtrade FX is not a legit broker and should be avoided at all events. Samtrade FX claims to be a member of the Financial Commission, but this organization is a dispute mediation agency rather than a regulator approving licenses for forex trading and brokerages. Besides, this broker claims to be owned and operated by S.A.M. Trade (Asia) Pte Ltd, an entity incorporated in Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and regulated by FINTRAC (Financial Transactions and Reports Analysis Center of Canada). However, both SVG FSA and FINTRAC don't issue any licenses for forex trading or brokerage nor do they regulate, monitor, supervise or license international companies engaging in such activities. So Samtrade FX is currently not regulated by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. What's worse, the Singapore regulator MAS has added Samtrade FX to the alert list to warn the public that this firm is not authorised to provide investment services. You can check the full alert here.Our final verdict is that Samtrade FX is thoroughly a scam since it's not authorised by any financial regulator. We would advise you to stay away from this broker and any other unregulated brokers as your funds in such shady brokers can not be guaranteed. If you've deposited funds in this broker, try to withdraw your money as soon as possible. If you failed to withdraw your money, you'd better report to your local authority.
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12 comments

FAEZEH Williams Ekon
Pls stay away from this company. Completely a big big scam. Always said that the withdrawal fee is not enough. They stole all our funds, lied repeatedly, and suffer no consequences for the actions. I can't get my money back anymore.
2023-09-15
Reply
Mai Azim
I read same period about some bad reviews about them especially the one on Brokerview and other platforms,they were referenced on how cases of Samtrade FX was registered and I followed suit. They registered mine and after a few weeks, I got my invested amount. I am getting my ROI as it is still being processed. Avoid Scam trade FX like a plaque.
2023-09-12
Reply
John Yartsev
The website is not available. Move away from this scammer
2023-09-06
Reply
Lurdes Rodriguez
This is a very fraudulent platform and should be avoided, definitely not to be trusted with money or information. They gave me huge profits and asked for exorbitant fees to process my withdrawal request but didn't release my money when I paid.
2023-09-01
Reply
Cecilie F?nsskov Demant Lychev
I am a member of Samtrade with a capital of 1500 dollars. because there is a legal licensing issue in SINGAPORE so trading and WD activities are delayed, hope there will be compensation.
2023-08-29
Reply
Omoamilor Kedia
Withdrawal and deposit has no problem, but the customer support is terribly slow and disrespectful! Don’t expect a good response from them, server is terrible causing delay in some trades
2023-08-28
Reply
Shany David
I applied for withdrawal on Jan. 3 and it had not been processed till now. Please do me a favor!!
2023-08-23
Reply
Chanin Lubina
hello admin, please help me about my problem, i can't withdraw my samtrade account since samtrade got a problem with MAS, i want to withdraw my account
2022-08-18
Reply
Monthipa Huang
This is a very fraudulent platform and should be avoided, definitely not to be trusted with money or information. They gave me huge profits and asked for exorbitant fees to process my withdrawal request but didn't release my money when I paid.
2022-08-15
Reply
Dmitrijs Sevinc
There is no proper customer support,I have opened the account One week before, Still there account approval is pending, there is no signal response from customer support.
2022-08-14
Reply

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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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