[CONFIRMED SCAM] Anyone heard of Samtradefx?

[Ganity_Era]

reported for spamming and endangering unknowing readers

https://www.mas.gov.sg/investor-alert-list

I am warning readers. Unless youre defending samtrade

 

[kimsix]

I am warning readers. Unless youre defending samtrade

ok reported wrong person, should be @jagr then

 

[Ganity_Era]

why would it be a scam? the trades are legit and the profits come from actual forex trades. i've been with them for 7 months already, withdrawing profits monthly and already gotten back about 75% of my capital. the referral system is just a small bonus on top of the trade income.

Tell me why is falconer/ fin888 is not offered via copysam but invite only affiliate links? Dont be naive.

 

[el0nmust]

MAs only informed Samtrade FX is not under MAS, however, MAS never mentioned its scam broker, as it indeed has legally registered forex broker operation under Forex regulator ASIC (Australia).

I was registered last year after check through every possible verification below,
-It has Tier 1/ Tier 2 Forex regulatory
-It has money protection by third party Financial Commission
-It's STP/ECN broker whereby trading went to real market not internal (can be verified through the constant changes on "Spread" under MT4 apps, Swap is consistent '0' unless trading stay and more than 1 day). Ponzi will have "Spread" stagnant and never move under MT4 apps.
-The company recently went to the official US stock market (SMFX:US OTC)
Any company that went to the stock market I believe went through rigorous audit and verification and not anyhow scam company can list their company in the stock market
-The company recently select Richard Dyason (former SGX's VP and current SIAS's GM) to be Chief Strategy Officer of Samtrade

The good news, despite being skeptical, I took the liberty of taking managed risk joining with low capital 1k last year. After tried the smooth deposit and withdrawal, including withdrawing the real profitable earning, I've decided to top-up and enjoying the 'decent' passive income.

All investments indeed have risk, however, if we can manage the risk I believe we are a good investor. If we didn't do our own research and study and just blindly believe whatever friends and news said, I don't think we are wise enough.

“There is no such thing as no risk. There’s only this choice of what to risk, and when to risk it.”
-Nick Murray

Happy investing guys...

 

[hwmook]

MAs only informed Samtrade FX is not under MAS, however, MAS never mentioned its scam broker, as it indeed has legally registered forex broker operation under Forex regulator ASIC (Australia).

I was registered last year after check through every possible verification below,
-It has Tier 1/ Tier 2 Forex regulatory
-It has money protection by third party Financial Commission
-It's STP/ECN broker whereby trading went to real market not internal (can be verified through the constant changes on "Spread" under MT4 apps, Swap is consistent '0' unless trading stay and more than 1 day). Ponzi will have "Spread" stagnant and never move under MT4 apps.
-The company recently went to the official US stock market (SMFX:US OTC)
Any company that went to the stock market I believe went through rigorous audit and verification and not anyhow scam company can list their company in the stock market
-The company recently select Richard Dyason (former SGX's VP and current SIAS's GM) to be Chief Strategy Officer of Samtrade

The good news, despite being skeptical, I took the liberty of taking managed risk joining with low capital 1k last year. After tried the smooth deposit and withdrawal, including withdrawing the real profitable earning, I've decided to top-up and enjoying the 'decent' passive income.

All investments indeed have risk, however, if we can manage the risk I believe we are a good investor. If we didn't do our own research and study and just blindly believe whatever friends and news said, I don't think we are wise enough.

“There is no such thing as no risk. There’s only this choice of what to risk, and when to risk it.”
-Nick Murray

Happy investing guys...

https://publishednotices.asic.gov.a...40799819/747d997e-875b-435c-949b-2d33fdb9b7a8
https://register.fca.org.uk/s/firm?id=0014G00002WwlEfQAJ
ASIC and FCA both clearly state that samtrade is no longer regulated under them, still doesn't sound an alarm to you?

Guys, I must repeat again. MAS do not put a company on alert list unless there is a very good chance that the company is a scam. This company does not have a Tier 1 or 2 regulatory license.

Listed on USA OTC mean nothing. Go and Google Luckin coffee, bigger companies have been listed and proved to be a scam. Moreover it has a singapore address and not regulated by MAS, doesn't sound weird?

All the alarm bells are ringing guys. If you still choose to believe this scammer then good luck.

 

[el0nmust]

Can go direct to ASIC website to check, and it's still regulated, go google it.
Does anyone knows how to insert URL link here, somehow I can't copy-paste the URL here.

For Samtrade address in Singapore, my research found it's the address for their training/education arm, while the fx trading address is outside Singapore. Also why they were not regulated under MAS number of sources mentioned is due to MAS regulate 20:1 fx leverage ratio, while Samtrade having 200:1 fx leverage ratio.

Guys, focus on the positive while still keep doing your research to align the optimism with reality. However, don't judge too quickly. If we see Luckin coffee or even Enron NYSE:ENE was a scam, this doesn't represent and justify the whole stocks are scam.

I do understand a lot of people 'kena' con investing in forex due to lack of knowledge, hence extra precaution indeed require. My take, learn as much to understand and take the risk as according to a respective individual profile, as everyone's risk appetite is different, and I appreciate the diversity of our respective risk appetite. But do take action when the research has shown more good than the bad, else we'll always be the skeptic who keeps researching about anything and does nothing about it.


"If you’re not failing, you’re not pushing your limits, and if you’re not pushing your limits, you’re not maximizing your potential" - Ray Dalio-

 

[Ganity_Era]

MAs only informed Samtrade FX is not under MAS, however, MAS never mentioned its scam broker, as it indeed has legally registered forex broker operation under Forex regulator ASIC (Australia).

I was registered last year after check through every possible verification below,
-It has Tier 1/ Tier 2 Forex regulatory
-It has money protection by third party Financial Commission
-It's STP/ECN broker whereby trading went to real market not internal (can be verified through the constant changes on "Spread" under MT4 apps, Swap is consistent '0' unless trading stay and more than 1 day). Ponzi will have "Spread" stagnant and never move under MT4 apps.
-The company recently went to the official US stock market (SMFX:US OTC)
Any company that went to the stock market I believe went through rigorous audit and verification and not anyhow scam company can list their company in the stock market
-The company recently select Richard Dyason (former SGX's VP and current SIAS's GM) to be Chief Strategy Officer of Samtrade

The good news, despite being skeptical, I took the liberty of taking managed risk joining with low capital 1k last year. After tried the smooth deposit and withdrawal, including withdrawing the real profitable earning, I've decided to top-up and enjoying the 'decent' passive income.

All investments indeed have risk, however, if we can manage the risk I believe we are a good investor. If we didn't do our own research and study and just blindly believe whatever friends and news said, I don't think we are wise enough.

“There is no such thing as no risk. There’s only this choice of what to risk, and when to risk it.”
-Nick Murray

Happy investing guys...

You do know OTC market is not subjected to the same regulations as ones from NYSE and CBOE right?
Otherwise youre blind leading others to believe this is a legit scheme.
OTC markets are for penny stocks and they are not audited similarly to the big listed company out there.
Look at the annual report provided by Samtrade on OTCmarkets.com. Even the site warns you that Samtrade might not be declaring information publicly.

https://www.otcmarkets.com/stock/SMFX/overview?tvwidgetsymbol=OTC:SMFX
https://backend.otcmarkets.com/otcapi/company/financial-report/291331/content
saw what the company was previously named? PAPERFREE MEDICAL SOLUTIONS INC. Seems like Samtradefx bought over a shell company of sorts in the US to be listed in the OTC markets huh.

Honestly at this point the company is just trying to get more funds to run its scheme. Not to mention, there are tiers in the copytrade where a manager (someone with multiple downlines) are given huge monthly incentives which explains the aggressive promotion of the service by many gullible people.

 

[hwmook]

You do know OTC market is not subjected to the same regulations as ones from NYSE and CBOE right?
Otherwise youre blind leading others to believe this is a legit scheme.
OTC markets are for penny stocks and they are not audited similarly to the big listed company out there.
Look at the annual report provided by Samtrade on OTCmarkets.com. Even the site warns you that Samtrade might not be declaring information publicly.

https://www.otcmarkets.com/stock/SMFX/overview?tvwidgetsymbol=OTC:SMFX
https://backend.otcmarkets.com/otcapi/company/financial-report/291331/content
saw what the company was previously named? PAPERFREE MEDICAL SOLUTIONS INC. Seems like Samtradefx bought over a shell company of sorts in the US to be listed in the OTC markets huh.

Honestly at this point the company is just trying to get more funds to run its scheme. Not to mention, there are tiers in the copytrade where a manager (someone with multiple downlines) are given huge monthly incentives which explains the aggressive promotion of the service by many gullible people.

You only have to fill up a form to get listed in the OTC market, there is no need to buy a shell company. Moreover total market cap is 200k. I can setup a few of such companies myself.

 

[Seanny94]

Anyone saw this before? Some form copy trading in telegram.

t.me/JawsFT

 

[Ganity_Era]

You only have to fill up a form to get listed in the OTC market, there is no need to buy a shell company. Moreover total market cap is 200k. I can setup a few of such companies myself.

If you take a closer look, the company stated as founded in 2015 in linkedin but started operations 2019 but in their OTC documents its states founded 2002. Obviously they bought over the US company.
People want to hear what they want to hear.

 

[Funny_boi]

Well, there is no right or wrong if willing to take the risk, then put. Risk money is what I allocate to this, money that you can risk for such allocation. If not comfortable dont put. I'm just sharing my experience, yes it definitely sounds too good to be true. But so far I'm invested for 3 months. Decent returns average 8-12% per month. Already drew out my earnings twice. If wanna put, put in an amount you wont cry over when u lose. If not dont put money. Simple as that.

 

[exterminazn]

Well, there is no right or wrong if willing to take the risk, then put. Risk money is what I allocate to this, money that you can risk for such allocation. If not comfortable dont put. I'm just sharing my experience, yes it definitely sounds too good to be true. But so far I'm invested for 3 months. Decent returns average 8-12% per month. Already drew out my earnings twice. If wanna put, put in an amount you wont cry over when u lose. If not dont put money. Simple as that.

8-12% per month is pretty sick tbh, but considering the risk this should be the kind of returns lol

 

[BigBlue]

Well, there is no right or wrong if willing to take the risk, then put. Risk money is what I allocate to this, money that you can risk for such allocation. If not comfortable dont put. I'm just sharing my experience, yes it definitely sounds too good to be true. But so far I'm invested for 3 months. Decent returns average 8-12% per month. Already drew out my earnings twice. If wanna put, put in an amount you wont cry over when u lose. If not dont put money. Simple as that.

any update on this bro? i see some change in names and concepts. thanks.

 

[Hadragon]

With FIN888 also. But not directly, but through a friend. FX copy trade. So far seems legit and returns are not bad.

Yo how do you copy trade the system

 

[funfund888]

Wow, Samtrade now sign sponsorship deals with Valencia! Power!

 

[Pueh Kee]

Quite frankly there are risk involved cos u dk if they can be trusted to not run w ur money or not.
But well, high returns high risk

 

[DestinyFate]

Yea, initially I was quite sceptical so hold on and see for one year plus, lol every 5 weeks profit and no problem with withdrawal..

So decided to sign up and try.. so far not bad for passive income

 

[yiron]

Wow so many relatively new accounts posting their positive experience. Totally not suspicious at all

 

[le0nkelvin]

saw this from youtube, the fin888 presentation

 

[saggy]

saw this from youtube, the fin888 presentation

Two years back video, but the concept is there.