Samtrade FX is a brutal Forex broker that has been scamming people all over the world. We have received numerous complaints from people all over claiming to have lost with Samtrade FX. When you visit the homepage, you will be greeted by a warm message from them. They claim to offer the world’s market at your fingertips. They claim it was built by traders. Find out our detailed investigation results.
SamTrade FX claims to understand the clients’ needs and wants. This is why some traders come together to work towards creating a tool that would trade differently. It means that the tool would give all the technology required to stay on top of Forex trading. Some of the advantages they claim include executing trades at fast speeds, offering competitive commissions and more.
According to Sam Trade FX, you will get an attractive cash rebate program and maximum funds of security. You will also get tight spreads that come with professionals and personalized services. Our investigations revealed that all these are empty promises meant to lure investors into signing up with Samtrade FX. This detailed and eye-opening review will reveal the dirty tricks these scammers are using to steal money from you.
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Samtrade FX offers four types of accounts. These four accounts are Standard, Islamic, joint, and corporate account. According to the website, the standard account is for traders who want a wide range of features suitable for them. You don’t need to be experienced to own this account. They claim that this account is the only one able to trade standard lots in the Forex market. Which is a total misdirection of the truth!
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Islamic or swap free accounts have no roll interests on overnight positions. This is one account designed to attract Muslim users. This is why Forex Islamic accounts were created since they are interest-free. One fake claim spotted on their website is that Islamic account is the safest way to trade. Why? They follow strict Sharia laws. This is not true. Other safe ways to trade for Forex are available such as the use of forex robots.
This account is a type of account managed by two or more account holders. According to Samtrade FX, this is the perfect solution for spouses who are both interested in a business partnership. Any traders who have access to the account can trade using a single account and pooling of resources. This sounds dangerous as one party can take advantage of the other.
This account is for corporate and institutional clients. This is for traders who trade and fill in bigger orders. According to SamTrade FX, this account offers the highest standard and best market execution. We don’t believe this is the case. Why? Any execution can be successful no matter the account type, you just need to know what you’re doing.
You can deposit and withdraw money with four different platforms. Bank wire transfer, Visa, MasterCard, and UnionPay. With Bank wire transfers, the minimum deposit is $100 and the process time takes 1-4 business days. Minimum allowed withdrawal is $50. Visa deposit takes an hour and comes with a minimum deposit of $100. Minimum withdrawal is $50.
MasterCard deposit processing time is within an hour and the minimum deposit is $100. Minimum allowed withdrawal is $50. UnionPay has the same conditions as the above. The problem we have with Samtrade FX is the withdrawal process. They claim it takes less than 4 days but this isn’t true. Most people have come forward claiming they haven’t been allowed to make even a single withdrawal. This is because Sam Trade FX is a scam broker stealing from people.
Samtrade FX comes with a reward scheme to its customers. They claim you can earn as you trade by either making referrals or you make more deposits. This is nothing but a scam and should not be allowed to continue. How can they give you more money for depositing more money? They simply want you to deposit more so that when they close shop, you will lose all of it. They will end up being rich all thanks to your deposit enticements.
The best thing you should do is use only recommended and trusted Forex brokers who make realistic profit margins. You will never go wrong with regulated and tested forex brokers. Money remains safe and you stand a chance of making some real money. Why not sign up using reputable Forex brokers with years of experience? You will start enjoying the fruits of Forex trading.
Samtrade FX goes ahead and posts a fake award claiming to have been given in China. They claim that SamTrade FX is proud to receive the Best STP /ECN Broker at the China Forex Expo. This certification is a lie since no company won that award in 2016. They have photo-shopped the certificate to make everyone believe they are legit.
Such claims are what scammers use in order to try and legitimize the platform. In 2016, no award was held making us believe we are dealing with scammers. Just because they show your certification does not mean you should trust them completely. This is a practice scammers have started picking and we should stop it immediately.
Samtrade FX claims to have an academy that teaches newbies about trading forex and CFDs. We could not get a hold of this academy and only notes we saw are on their webpage. There are no tutorials, no eBooks, and no webinar reports. This just proves that we are dealing with scammers who will do or say anything to trap victims.
This fake broker claims that having electronic communication and MT4 platform enables them to trade safely. They claim that a seamless and secure environment makes SamTrade FX have an advantage over other platforms. This makes their trading platform easy to use no matter the geographical location.
We found out that this was a lie since we tried downloading the platform on different devices. The download would only go to 57% on all devices.
This means you cannot trade on the go. It also means the only way to trade is on their website. It makes it difficult for any trader to trade on the go. This is what Forex is all about. The freedom to trade with different devices.
Yes, we are dealing with a Forex scam broker. The evidence clearly points that no one has made any gains using Sam Trade FX. Furthermore, empty promises will not go long before people realizing that this broker is taking them for a ride.
Claims that the technology used is ECN or Electric Communication Network. No one can prove that this is true, they also cannot be reached to provide any assistance. This is why we have to publicly shame this broker as a fraud.
We are sure that this forex broker is out to get your money. When authorities get wind of their activities, they will simply bring down their website. This is why we urge you to stay away from this broker. If you have already registered, try as much as possible to withdraw your money. Sadly, this might prove futile as claims of holding withdrawals are rampant with Samtrade FX.
Always stay safe with Forex brokers who have been endorsed by the trading community. These Brokers are entrusted and nominated by the industry’s elite. Why? Members money is always safe and users are able to generate real profits. Why don’t you join these suggested brokers and start making some money with Forex trading?
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