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Sotrade FX

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Operating status: SCAM

Website: https://sotradefx.com/

Broker violations and abnormal records
  • 2022-10-27 BrokersView has Reviewed that Sotrade FX is an Unregulated Forex Broker

    Sotrade FX claims to be owned and operated by So Trade FX LLC, a company registered with Saint Vincent and the Grenadines Financial Services Authority (SVG FSA). However, we did not find any match results for this broker in SVG FSA. Besides, SVG FSA is not a regulatory body that issue license for forex trading or regulate entities engaging in forex services. The truth is, Sotrade FX is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    Sotrade FX claims to be owned and operated by So Trade FX LLC, a company registered with Saint Vincent and the Grenadines Financial Services Authority (SVG FSA). However, we did not find any match results for this broker in SVG FSA. Besides, SVG FSA is not a regulatory body that issue license for forex trading or regulate entities engaging in forex services. The truth is, Sotrade FX is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

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Q&A

What is your rating for Sotrade FX? I would appreciate your profesional insights.

Ed
Congo-Brazzaville
2022-12-12
ANSWER Sotrade FX is not a licensed or regulated broker even though it states offers that look good to be true.Sotrade FX claims to be owned and operated by So Trade FX LLC, a company registered with Saint Vincent and the Grenadines Financial Services Authority (SVG FSA). However, we did not find any match results for this broker in SVG FSA. Besides, SVG FSA is not a regulatory body that issue license for forex trading or regulate entities engaging in forex services. The truth is, Sotrade FX 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 Sotrade FX and trade with licensed brokers.
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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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