The Official Website Of Sharesforextrade Cannot Be Accessed Normally At Present. The Company Seems To Have Closed Down. Therefore, We Can Only Collect Some Relevant Information For Reference Only.
2022-05-25 We Have Confirmed After Review That Sharesforextrade Is An Unregulated Foreign Exchange Broker
We Found That The Domain Name Of Sharesforextrade Was Created In August 2021. However, Sharesforextrade Claims On Its Official Website Homepage That The Company Has Won Many Awards In 2018 And 2019. This Is A Strong Red Flag.
Secondly, If You Open Its Company Website And Want To Read More About The Company, You Will Be Surprised To Find That Only The Homepage Of Sharesforextrade Works Properly, And The Rest Of The Links Are Not Valid At All.
Thirdly, You Will Notice In The Company's Website That The Company States That It Is An Authorized Dealer And Has Dual Regulation, Including The Seychelles Financial Services Authority (FSA), Operating License Number SD0373 And The Cyprus Securities And Exchange Commission (CySEC), Operating License Number 138/11. In Fact, It Has Not Obtained Any Operating License In Either Of These Regulators.
Based On This Information, We Can Conclude That Sharesforextrade Is A Fake Trader.
2022-05-23 CySEC Issues Warning Against Sharesforextrade
On May 23, 2022, CySEC Issued A Warning Against Sharesforextrade. According To CySEC Regulations, Sharesforextrade Is Not Authorized To Provide Investment Services. You Can Check The Following Website For Details: Https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=a039de2a-6fd6-4654-a7e6-e01961662d66
Due To The Inability To Access The Broker's Website At This Time, We Are Also Unable To Obtain More Direct Details About Its Trading Assets, Leverage, Spreads, Trading Platform, Minimum Deposits, Etc.
As For Regulation, It Has Been Verified That Sharesforextrade Does Not Currently Have Any Valid Licenses.
But Most Non-compliant Brokers Will Not Disclose To Provide Other More Direct And Truthful Contact Information, Such As Phone Number Or Company Address.
Note: Sharesforextrade As A, Unregulated Broker, Which Means That Clients' Investments May Not Be Adequately Protected. Due To The Lack Of A Regulatory Authority To Hold Companies Accountable, The Lack Of Regulation Increases The Risk Of Potential Financial Losses.
If Investing In An Unregulated Broker, There Is A Good Chance That They Will Run Away With Your Hard-earned Money Without Any Recourse. Therefore, Investors Must Be Extremely Cautious And Remind Everyone To Stay Away From These Unregulated As Much As Possible When Choosing A Broker.
