UK’s FCA warns SLS Trade forex broker is unauthorized

UK’s FCA warns SLS Trade forex broker is unauthorized

- in All News, Featured News, Warnings
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UK’s Financial Conduct Authority (FCA) has published a warning that the forex broker SLS Trade is not authorized to provide financial services in the country without the proper authorization.

“This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation,” FCA notes and adds it may be running a scam.

According to the regulator and the broker’s website, it is based in London.

SLS Trade offers trading in forex and spot gold and silver on the MetaTrader 4 platform.

On its Facebook page SLS Trade claims it is an award-winning broker. Also there, however, some of its clients are complaining they cannot withdraw their funds. In come forex forums other traders are complaining of the same. The broker either does not answer phone calls and e-mails, or comes up with some ridiculous excuses like having lost the bank transfer and not being able to locate it.

It appears SLS Trade is a new kid on the block of unregulated brokers with dubious business practices, as this is the first warning against it, but most likely they will multiply over time.

3 Comments

  1. I was contacted by some one namrd Daniel who said he was a freelance broker. My bank Commonwealth refused to allow me to send money to SLStrade so he talked me into changing my bank. I sent $4000aud. Hesaid he worked by giving signals and taking 2 1/2% of the profits. Then I was contacted by Micheal Dobson who bullied me and said my money was not enough. I decided to get my money back. I have not been able to contact slstrade by email asthey comeback undelivered.They said it does not exist I don’t think I am going to hear from anybody again. Why are these people allowed to operate. It was money that I had to borrow.

    1. hello valerie i can give you lots of name working there if you need them but i think they are all false name anyway.i made a list of everyone i talked to and wrote to also.

  2. they answer you fast and give you good service just until you deposit and after that they give you good trading advice,but when they see you making money they tranfer you to a new account manager witch is that the new one gives you wrong advice and makes you take to much high position so you ll end up loosing your money.in that way they dont have to repay you if you want to withdraw.so keep away from those scammer cause the only thing you ll get is waisting your time and loosing your money.

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