ANSWER Best Stocks Trade is not a licensed or regulated broker even though it states offers that look good to be true. Best Stocks Trade claims to be operated by Florishing Group Llc, a company registered with Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) under registration number 1488 LLC 2021. We indeed find a match result to the registration number in SVG FSA. However, SVG FSA is not a forex regulator. It does not regulated forex broker or issue forex licenses. Having the registration, therefore, does not mean being authorized to provide financial services. What's more, the Italy Commissione Nazionale per le Società e la Borsa (CONSOB) issued a warning that Best Stocks Trade was not authorized to provide financial services. You can check the full warning from here.The truth is, Best Stocks Trade 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 Best Stocks Trade and trade with licensed brokers.
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