Strathos' Unlicensed Operations Threaten Client Funds: Withdrawal Issues Reported

Trading with unregulated forex brokers presents significant risks and challenges for traders as they are not bound by strict oversight. They can manipulate prices, misappropriate client funds, or even disappear entirely, leaving investors without recourse. The security of investor funds is not guaranteed, significantly increasing the likelihood of delays and denials in withdrawals.

BrokersView has received a client complaint against forex broker Strathos, alleging that Strathos is a platform that doesn't allow withdrawals and calling for public caution.

In the complaint, the client from Malaysia detailed that he submitted a withdrawal request on October 21, 2024, after trading at Strathos for a week. However, the request has remained pending without any feedback from customer service, and his emails to the broker went unanswered.

The lack of responsiveness and pending withdrawals are significant red flags that question the broker's reliability and trustworthiness.

Exposing Strathos as an unlicensed broker

Strathos, which claims to be a real broker in the eFX space maintaining ethical standards, actually operates as an offshore company registered in St. Vincent and the Grenadines. While it is listed in the Financial Services Authority of Saint Vincent and the Grenadines (SVG FSA), the regulator neither authorizes nor licenses forex brokers for operations and emphasizes that forex trading brokerage activities are not licensed in the country. Therefore, the broker’s claim that Strathos Capital Technology LLC is licensed by the SVG FSA as a Forex Broker under its recently implemented licensing process in 2023 does not work.

There is no additional regulatory information disclosed on the Strathos website, making it a completely illegitimate broker.

Strathos' website domain was registered in 2020, but its website traffic has remained nearly zero and unchanged over time. 

The company's Instagram and Facebook accounts have also stopped updates, with the most recent posts dating back to 2022. 

These factors, combined with the lack of client reviews and feedback, further raise concerns about the reliability of Strathos as a forex broker. Clearly, this contradicts its self-proclaimed outstanding pricing, execution, and customer service that it claims set it apart in the financial market.

Bottomline

Given the client’s unresolved issues, traders should exercise extreme caution when dealing with Strathos. The broker is still operating despite being little known in the trading community, which poses a fraud risk to potential clients due to its unregulated status. Checking legitimacy should be a top priority when selecting a trading platform to ensure your funds are secure and accessible.