legit SVGFSA or not?

By Mike Gane, from United Kingdom, March 14, 2023 at 12:24 PM

Please can you tell me are this company regulated by the SVGFSA or not. I don't want to lose my money if they are not legit. Thank you

  • Legit SVGFSA Or Not?
Answer: Hi Mike Gane,

Based on the information provided on the broker’s website, COIN-ROYAL is actually regulated by the SVGFSA under registration number 26181 BC 2021. The broker also provides the registered address (First Floor, First St. Vincent Bank Ltd. Building, James Street , Kingstown, Saint Vincent, and the Grenadines).

However, the problem is that the SVGFSA is not one of the best regulatory bodies in the financial world. Its regulatory rules and conditions are rather lax, thus, not providing the necessary safety.

  • St Vincent is an attractive solution among financial companies and those businesses that for various reasons operate through an offshore company. The jurisdiction offers easy setup demands through a very quick, simplified process, while the firm does not necessarily need an office in SVG, is allowed to maintain low initial capitals, and has no strict establishment rules or requirements. To learn why it is wiser to avoid SVGFSA-registered brokers read our detailed article on the topic.
  • We advise traders and investors to indulge only with well-regulated brokers with a license from top-tier authorities, such as CySEC, FCA, ASIC, etc.

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