Alert: FCA, CNMV and FSMA Added EuroTrade into Warnings

WikiFX has therefore investigated a lot about the company and based on the negative reviews, complaints and other scam features, we have listed the entity as a scam.

Negative reviews and complaints

Some clients of the company shared their experiences. Investors complained that the company follows unethical practices including withdrawal issues and customer service and makes them suffer losses.

A UK-based unauthorised entity

Eurotrade claims to be a reliable broker without presenting any information about its regulation. Additionally, Eurotradep states its headquarters is in the London, UK. As per British law, all firms and individuals offering, promoting, or selling financial services or products in the UK shall be authorized by the United Kingdom Financial Conduct Authority (UK FCA). However, we found no results in the database of the FCA regulated brokers list. That means Eurotrade is an unlicensed broker, who is not authorized to provide financial services in the UK or any other jurisdictions.

Financial authorities issued public warnings against Eurotrade

What's more, we find some warnings from globle financial authorities.

Last year, a warning record matched with Eurotrade on the FCA. According to the update, the watchdog warned the public that the entity is not authorised by it and is targeting people in the UK.

On 7 March2022, The Spanish National Securities Market Commission(CNMV) issued a warning that Eurotrade has not been authorized to carry out investment services and activities.

On 8 June 2022, the Belgian Financial Services and Markets Authority (FSMA) identifies Eurotrade as a fraudulent online trading platform.

Based on the above information, we can conclude that EuroTrade is a scam. If you are not sure how to find a licensed broker, you can search on our website to check brokers' details.