Advantrade
We checked Advantrade 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
Advantrade is not a reliable broker for traders. Advantrade claims it is a one-stop trading app co-developed by Topical Wealth International Ltd (Top Wealth) and ET FinTech Pty Ltd, two companies with different authorization and regulations. Topical Wealth International Ltd (Top Wealth) holds a license issued by the Seychelles Financial Services Authority (Seychelles FSA) and authorized by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) with an MSB license. ET FinTech Pty Ltd is regulated by the Australian Securities & Investments Commission (ASIC). First, please be informed that FINTRAC is not a regulatory body that issues licenses for forex trading or regulates entities engaging in forex services. Second, we indeed find a match result to Top Wealth in Seychelles FSA. But as per the details shown on Seychelles FSA, the approved domain of Top Wealth is " That means Advantrade has no connection with Top Wealth since the former's domain is not the one registered in Seychelles FSA. Third, we also find a match result to ET FinTech Pty Ltd in ASIC. But there are no representatives named "Advantrade" of this firm shown on ASIC. The truth is that Advantrade is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. 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 Advantrade.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.