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Samtrade FX Obtains Financial Conduct Authority (FCA) and Australian Securities and Investments Commission (ASIC) Licences to Strengthen Global Footprint

Online trading brokerage continues to ensure client confidence in every trade through extensive fund security coverage, while expanding its presence in Europe and Asia
Samtrade FX
2020-07-29 11:05 1490

SINGAPORE, July 29, 2020 /PRNewswire/ -- Samtrade FX, a leading online trading brokerage that is committed to providing traders with safe, easy and low-cost access to Forex and Contracts for Differences (CFD) trading, today announced that it has been registered and authorised as an Appointed Representative by the FCA (reference number: 929921), the conduct regulator for financial services firms and financial markets in the United Kingdom (UK). This latest licence reinforces Samtrade FX's ability to operate as an authorised and trusted financial services provider for securities in multiple territories.

As a major regulatory body that performs a supervisory role over financial institutions in the UK, the FCA secures an appropriate degree of protection for consumers and maintains the market integrity of the UK financial system. Anti-money laundering (AML), for instance, is a key focus of the FCA. To ensure it continues to adhere to the FCA's specific AML compliance regulations – such as monitoring for suspicious activity and performing risk assessments, Samtrade FX has recently appointed Vic Tham, a veteran in the field of risk and compliance, as its Global Chief Risk and Compliance Officer.

In addition, Samtrade FX announced that it has obtained an Australian Financial Services (AFS) licence (registration number: 001281861) from the ASIC, an independent Australian government body that acts as Australia's corporate regulator.

With the FCA and AFS licences, 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 licences supplement the International Business Companies (IBC) licence granted to Samtrade FX (registration number: 25290 IBC 2019) by the Financial Services Authority of Saint Vincent and the Grenadines, to allow the business of dealing in securities as a Principal. Samtrade FX is also regulated (registration number: M19977589) by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business (MSB).

"Since incorporation, ensuring trust and confidence in every trade has been central in everything that we do," said Sam Goh, Founder and CEO, Samtrade FX. "These added layers of regulation – on top of the existing licences 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."

SamAideTM is Samtrade FX's Secured Fund Coverage framework that 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.

Established in 2015, Samtrade FX has progressively extended its operations and market reach, which now spans Europe, Southeast Asia, and Greater China, as well as the delivery of all-round, personalised services to more than 50,000 clients and more than 150 partners.

"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," said Goh.

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. To ensure seamless trading experiences 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 like funding, account details and transaction history, etc, and is available for download on Google Play. SamAppTM will be made available on the Apple Store in the coming weeks.

About Samtrade FX:

Samtrade FX is built by traders, for traders. With the vision of being the most trusted brokerage and providing safe, easy, and low-cost access to foreign exchange markets, Samtrade FX gives its clients the technology, tools, and services they need to stay on top in today's turbulent financial markets.

As a fully licenced brokerage, Samtrade FX has built up an extensive and comprehensive fund security structure to ensure maximum fund safety for all its clients and is well known for being one of the fastest brokerages in terms of client fund withdrawals. Its shareholders consist of reputable figures in the financial industry, and the company is backed by an advisory board that provides clients with unrivalled professional training and advice.

In addition to Samtrade FX's previous industry accolades, the company was most recently recognised as the "Best Trading Platform, Asia", "Best Forex Introducing Broker, Asia" and "Best Forex ECN/STP Broker" at The London Trader Show 2020, signifying a strong vote of confidence from a panel of top experts and retail traders from across the world.

For more information on Samtrade FX, please visit: https://www.samtradefx.com

Source: Samtrade FX
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