Samtrade FX Adds FCA License In Bid to Expand Across The Globe - The Industry Spread

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

Samtrade FX

Samtrade FX Adds FCA License In Bid to Expand Across The Globe

July 30, 2020

FX and CFD retail broker Samtrade FX has been registered and authorized as an Appointed Representative by the financial watchdog in the United Kingdom, the Financial Conduct Authority.

The online trading platform is also licensed and regulated by ASIC  (Australian Securities and Investments Commission) and also by Canada’s FINTRAC (Financial Transactions and Reports Analysis Center of Canada). Since being established in 2015, the broker has grown to have a regional presence in the United Kingdom, Australia, Malaysia, Indonesia, Thailand, Hong Kong as well as Shanghai to provide personalized service as well as solid trading experience.

With the FCA and AFS licenses, Samtrade FX can now offer financial product advice, provide custodial or depository services, and deal in securities on behalf of new and existing clients in Europe and Asia.

These licenses supplement the International Business Companies (IBC) license granted to Samtrade FX by the Financial Services Authority of Saint Vincent and the Grenadines, to allow the business of dealing in securities as a Principal.

Sam Goh, Founder and CEO, Samtrade FX, commented: “Since incorporation, ensuring trust and confidence in every trade has been central in everything that we do. These added layers of regulation – on top of the existing licenses that Samtrade FX already holds, reinforces our commitment toward setting the highest possible standards in corporate governance, trading experience, and client satisfaction. It also enhances SamAideTM, which offers robust fund
security for clients to trade with a peace of mind.”

Samtrade FX’s Secured Fund Coverage consists of five pillars:

– Depositing all clients’ monies in segregated custodian accounts under a strict legal trust framework with proper custodian functions; third-party insurance with The Eye Protection Centre (EPC) for additional fund protection;
– Professional indemnity protection with Howden Insurance Brokers;
– Samtrade FX being a member of The Financial Commission, which acts as a neutral and independent committee that fairly reviews and resolves disputes within the financial services industry in the Forex market; and negative balance protection on all accounts.

“Our comprehensive technological infrastructure has ensured prompt execution of client trades without complications and minimal technical issues. This technology set-up, together with our continuous rigour in adhering to new regulatory standards, is the foundation on which we conduct business and differentiate ourselves, and this approach has been validated by an ever-growing list of retail and institutional clients turning to us for impeccable services”, Sam Goh continued.

The Samtrade FX trading platform provides real-time quotes and trade execution, advanced charting with multiple time frames, pip value calculators, and financial market news, etc. Samtrade FX offers a seamless trading experience through the MetaTrader 4 platform, but it also offers its own mobile application, SamAppTM, which allows clients to access key functions like funding, account details, and transaction history.

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