Samtrade FX, an online foreign exchange (forex) and CFD trading platform, announced this Wednesday that it had secured licenses both within the United Kingdom and Australia.
In a company statement, the brokerage revealed that it had been registered and authorized as an Appointed Representative by the Financial Conduct Authority (FCA) under reference number 929921. According to the UK regulator’s register, Samtrade UK International Limited is the company that has been authorized as of the 15th of July 2020.
In addition to having Samtrade UK International Limited authorized as an appointed representative, Samtrade FX also said today that it had obtained an Australian Financial Services (AFS) license from the Australian Securities and Investments Commission (ASIC) under registration number 001281861. Finance Magnates has not been able to confirm this information.
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Samtrade FX was set up in 2015. The company has expanded its presence across Europe, Southeast Asia, and Greater China. The broker uses the MetaTrader 4 platform to provide its services.
Samtrade FX secures Vic Tham for compliance
In addition to securing the new licenses, Samtrade FX also revealed that it had appointed Vic Tham as its Global Chief Risk and Compliance Officer. According to his LinkedIn profile, Tham has worked at a number of financial giants such as Bank of America Merrill Lynch and Standard Chartered.
Commenting on the range of developments, Sam Goh, Founder and CEO, Samtrade FX said in the statement: “Since incorporation, ensuring trust and confidence in every trade has been central in everything that we do.
“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.”