Unauthorised firm details
Name: Silver-FX
Website: silver-FX.com
SpotTraderFX positions itself as an online trading/investment platform, offering forex and cryptocurrency trading to both beginners and more advanced users. It touts features like competitive spreads, account types, and tools for trading. On its site, it claims a UK address, customer support channels, and professional-looking interfaces.
However, investigations and user reports raise substantial doubts about its legitimacy. Several independent review sites report that SpotTraderFX is not regulated by major financial authorities — such as the UK’s FCA, Australia’s ASIC, or similar bodies. Absence of regulation is a major warning sign, because legitimate brokers are generally required to register with financial oversight agencies.
Moreover, users of SpotTraderFX have posted complaints that they cannot withdraw funds, or that they have been asked repeatedly for additional payments/fees (“taxes”, “processing fees”, “loans”) before withdrawals are allowed. The platform appears to use high pressure or manipulative tactics — e.g. urging larger deposits, employing account managers, or promising unusually high profits in short periods.
Thus, the reality behind SpotTraderFX seems to diverge sharply from the claims. While the site projects legitimacy, many red flags suggest it may be unsafe for investments.
Submit your review | |
