12Trader
We checked 12Trader against the AskCheck register. It has been reported (2022) and carries the red flags below. Treat it with extreme caution.
Why it’s flagged
What we found
12Trader, operated by Safe Side Trading LTD, claims that it won award in 2014. However, we checked its domain and found the domain has been created in 2015. How could it win award in 2014? It is a red flag. 12Trader presents an address in Saint Vincent and the Grenadines. So we searched Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) but found no matching results. In other words, 12Trader is not registered here. Besides, SVG FSA is not a forex regulator. It does not regulate forex brokers or issue forex licenses. So having registration does not mean being authorized to provide financial services. 12Trader alco claims to be located in the UK. As per United Kingdom 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 did not find any matching results in UK FCA. That means 12Trader is not regulated in the UK. The truth is that 12Trader is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.
Assessment source: FastBull BrokersView.
What to do next
- Stop sending money. Don’t make another deposit, pay a “tax” or “release fee”, or share remote-access to your device.
- Gather your evidence. Save statements, chat logs, transaction IDs and the wallet addresses you paid to.
- Report it to your regulator and to local police / action-fraud line so it’s on the official record.
- Add your report here so the next person searching this name is warned — report 12Trader.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.