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please reviews the broker Samtrade, it is STP or DD broker, its experience, performance, licenses, etc. Thanks
Samtrade FX claims to be an all new online trading brokerage in providing Forex Trading and other related services. It is incorporated in Saint Vincent and the Grenadines under registered number 25290 IBC 2019 by the Registrar of International Business Companies, registered by the Financial Services Authority of Saint Vincent and the Grenadines to carry on the business of dealing in securities as a Principal.
However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as Samtrade FX. Read more about St. Vincent and the Grenadines regulation by the link.
The broker also mentions its regional presence in Malaysia, Indonesia, Vietnam, Thailand, as well as Philippines to provide an all-round, personalized service to our clients and partners. However, it is not authorised in these countries therefor has no right to offer its financial services there.
In addition, there are a lot of complains from its clients claiming to have lost with Samtrade FX. We would advise to find a more reliable broker with the regulation. You can check our list of the Regulated Brokers to choose the one that fits you.