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Soyam Trade Limited

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Soyam Trade Limited: Fake Awards, Unregulated Scam

Operating status: SCAM

Website: https://www.soyam-fx.com/

Broker violations and abnormal records
  • 2022-04-24 BrokersView has reviewed that Soyam Trade Limited is an Unregulated Forex Broker

    Soyam Trade Limited is a fraud for the following reasons. First, Soyam Trade Limited presents its award records earned from 2017 to 2019. However, when we checked its domain, we found it was created in 2021. So how could it earn those awards from 2017 to 2019? It is a red flag here.

    Besides, this broker claims to be a regulated firm while presenting neither details about its company information (office address) and regulation, nor legal documents (terms & conditions, risk disclosure, and privacy policy, etc.). Lacking the above information may be a distinctive characteristic of unlicensed brokers, as legit brokers always display their accreditation and licenses in a prominent position.

    For the above reasons, Soyam Trade Limited is not regulated by any regulators. That means investors' money in this broker is unsafe and cannot be protected by any law. Therefore, it is a scam.

    Soyam Trade Limited is a fraud for the following reasons. First, Soyam Trade Limited presents its award records earned from 2017 to 2019. However, when we checked its domain, we found it was created in 2021. So how could it earn those awards from 2017 to 2019? It is a red flag here.Besides, this broker claims to be a regulated firm while presenting neither details about its company information (office address) and regulation, nor legal documents (terms & conditions, risk disclosure, and privacy policy, etc.). Lacking the above information may be a distinctive characteristic of unlicensed brokers, as legit brokers always display their accreditation and licenses in a prominent position.For the above reasons, Soyam Trade Limited is not regulated by any regulators. That means investors' money in this broker is unsafe and cannot be protected by any law. Therefore, it is a scam.

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