There are many risks associated with unlicensed forex brokers. These brokers do not comply with government regulations and may misappropriate your funds. As a result, you may be unable to recover your lost money. Also, unlicensed brokerages are not governed by the traders’ rules and are not in your best interests. In contrast, SamTradeFX states that your funds are held in segregated accounts. It offers multiple deposit methods, tight spreads, and excellent customer service.
Is Samtrade FX a scam?
Samtrade FX is a trading platform that promises various benefits, including a cash rebate program, tight spreads, and personalized services. Sadly, these promises are empty and a sign of a scam. This Samtrade FX review will show you the truth about this Forex brokerage.
It’s important to note that Samtrade FX is not a regulated broker. In addition, the leading trade account is often a demo account with a nominal amount of ten dollars. The accounts are also often copied by clients. Moreover, 120% annual returns are not realistic in the fx world. A realistic return rate is closer to five to twelve percent. Furthermore, the minimum drawdown of one percent is too low for most investors.
The costs of Samtrade FX depend on your account type, the spread, and the margins. The spread refers to the difference between the bid and ask rates and is typically variable. Also, SAMTRADE FX charges a commission, which is five percent of the account’s value. Moreover, it charges additional fees for deposits and withdrawals, as well as for inactivity.
Samtrade FX is a broker that offers several account types, which vary in size. You can choose from five different account types, each with a minimum deposit of 10 USD. You can also opt to use their MT4 trading platform. SAMTRADE FX warns its customers that Forex trading involves high risks. Therefore, before investing, potential customers must carefully consider their financial situation, investment objectives, and experience level.
Is it regulated?
Samtrade FX is a brokerage with a long list of institutional and retail clients. It is fully licensed and meets reliable standards of corporate governance. It was founded to offer safe access to foreign exchange markets. Its partners and shareholders are top players in the financial industry, and its Advisory Board offers unmatched professional training.
Samtrade FX has an Australian Financial Services license (AFS) number, 001281861. This means that it is regulated by ASIC, an independent Australian government body that acts as a corporate regulator. However, Samtrade FX is not regulated by the Monetary Authority of Singapore, the Singapore Police Force, or any other government body.
Samtrade FX has been on the Investor Alert List since July 2021. The Monetary Authority of Singapore (MAS) does not regulate the company in Malaysia. However, it is regulated in Singapore by the Securities and Futures Commission (SFC). Its parent company, Samtrade FX, is based in the Caribbean nation of St Vincent and the Grenadines.
SAMTRADE offers a wide range of trading instruments. These include forex pairs, CFDs on commodities, and 19 different cryptocurrencies. Before deciding to trade with the company, it is vital to check whether any regulatory bodies regulate them. As a rule, offshore brokers tend to have a less favorable reputation.
Is it a b-book broker?
A B-Book broker is a broker that doesn’t like high rollers or whales. High rollers are those who consistently wager large amounts. These high rollers are a problem for a B-Book broker because they can cause them to lose money. In addition, these high rollers tend to jeopardize the house, so they’re best avoided.
A B-Book forex broker is different from an ordinary broker. They want to take the opposite side of each trade, so they can pocket the spread and not be exposed to market risk. This means that they need a lot of similar-sized customers who trade frequently. In addition, they like to maintain a lot of balances that are equal in size.
Samtrade FX has a trading academy where they educate their clients on basic trading concepts. There is also a section that provides trading signals. The academy also explains the difference between price action and algorithmic trading. It’s an excellent resource for learning about the currency market and the art of trading.
A B-book forex broker aims to capture more market share. Their profit margin is lower than the average, but it’s more consistent. The majority of forex traders lose their money. That’s why most brokers are a blend of A-Book and B-Book execution.