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What license does FXTRADEBIT hold?
Deepak Sharma
Seychelles
2023-11-01
ANSWER FXTRADEBIT appears to have no financial licenses in forex trading.While FXTRADEBIT marks itself as a globally regulated forex broker, it fails to give any further information about its regulation. This is a red flag for a scam, as legitimate counterparts always prominently display their accreditation and licenses to ensure transparency.Although it vaguely offers addresses located in the Cayman Islands, Seychelles, and the US respectively, our extensive searches in the registers of the Cayman Islands Monetary Authority (CIMA), the Seychelles Financial Services Authority (Seychelles FSA), and the National Futures Association (NFA) didn't find any records matching FXTRADEBIT. Therefore, we have cause to believe that FXTRADEBIT is an unlicensed trading platform.Given the above facts, we strongly suggest investors stay away from FXTRADEBIT. Individuals dealing with this unlicensed platform are vulnerable to fraud and identity theft as there are no rules in place to safeguard their interests. To minimize the risks, it is advisable to choose fully regulated brokers.
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