Samtrade FX, a leading online trading broker that is committed to giving traders safe, easy, and inexpensive access to Forex and Contracts for Difference (CFD) trading, today announced that it has been registered and authorized as a FCA Designated Representative (reference number) : 929921), implementation regulator for financial services companies and financial markets in the United Kingdom (United Kingdom).
This latest license strengthens Samtrade FX’s ability to operate as an official and trusted financial service provider for securities in various regions.
As the main regulatory body that carries out a supervisory role over financial institutions in the UK, the FCA secures the right level of protection for consumers and maintains the integrity of the UK financial system market. Anti-Money Laundering (AML), for example, is the main focus of the FCA. To ensure it continues to comply with FCA-specific AML compliance regulations – such as monitoring for suspicious activity and conducting risk assessments, Samtrade FX recently appointed Vic Tham, a veteran in the area of risk and compliance, as Global Chief Risk and Compliance. Officer
In addition, Samtrade FX announced that it has obtained an Australian Financial Services (AFS) license (registration number: 001281861) from ASIC, an independent Australian government body that acts as a regulator of Australian companies. With FCA and AFS licenses, Samtrade FX can now offer financial product advice, provide deposit or deposit services, and handle securities on behalf of new and existing clients in Europe and Asia.
This license complements the International Business Corporation (IBC) license granted to Samtrade FX (registration number: 25290 IBC 2019) by the Saint Vincent and Grenadines Financial Services Authority, to allow businesses to deal with securities as Principal. Samtrade FX is also regulated (registration number: M19977589) by the Canadian Center for Financial Transactions and Analysis Reports (FINTRAC) as a Money Services Business (MSB).
“Since the merger, ensuring trust and trust in every trade has been central in everything we do,” said Sam Goh, Founder and CEO, Samtrade FX. “These additional layers of regulation – on top of existing licenses owned by Samtrade FX, strengthen our commitment to set the highest standards possible in corporate governance, trading experience and client satisfaction. This also enhances SamAideTM, which offers clients secure funds to trade with peace of mind. “
SamAideTM is a Samtrade FX Secure Fund Coverage framework consisting of five pillars – holding all clients’ money in separate custodian accounts under a strict legal guardianship framework with appropriate custodial functions; third party insurance with The Eye Protection Center (EPC) for protection of additional funds; professional compensation protection with Howden Insurance Brokers; Samtrade FX is a member of The Financial Commission, which acts as a neutral and independent committee that fairly reviews and settles disputes in the financial services industry on the Forex market; and protection of negative balances on all accounts.
Founded in 2015, Samtrade FX has progressively expanded its operations and market reach, which now includes Europe, Southeast Asia and Greater China, as well as customized service delivery for all more than 50,000 clients and more than 150 partners. “Our comprehensive technology infrastructure has ensured rapid execution of client trades without complications and minimal technical problems. This technological arrangement, together with our continued determination to comply with new regulatory standards, is the basis on which we do business and differentiate ourselves, and this approach has been validated by a growing list of retail and institutional clients who turn to us for flawless service, “Goh said.
The Samtrade FX trading platform provides real-time price quotes and trade execution, advanced chart making with various time frames, pip value calculators, and financial market news, etc. To ensure a smooth trading experience for clients, Samtrade FX uses the MetaTrader 4 platform, which is available for download on Windows, Apple Store and Google Play. It also offers its own mobile application,
SamAppTM, which allows clients to access key functions such as funding, account details, and transaction history, etc., and is available for download on Google Play. SamAppTM will be available on the Apple Store in the coming weeks.