The Seychelles Financial Services Authority (FSA) issued a scam alert warning investors, licensees, and the public about “Xtrade” operating via https://www.xtradevip.com, which claims to be licensed and regulated by the FSA under licence number SD034. The FSA said the entity is not known to the Authority, does not hold a valid licence, and is not regulated by the FSA in any capacity. It added that licence number SD034 is linked to another entity that is licensed and regulated by the FSA, and urged the public to conduct adequate research before engaging in business activities or transactions involving money exchanges or sharing personal details.
Seychelles Financial Services Authority 2025-07-08
Seychelles Financial Services Authority warns XTrade is not licensed and is misusing an FSA licence number
The Seychelles Financial Services Authority (FSA) issued a scam alert regarding "Xtrade" operating via https://www.xtradevip.com, falsely claiming FSA regulation under licence number SD034. The FSA clarified that "Xtrade" is not licensed or regulated by them, and the licence number belongs to a different entity. The public is advised to conduct thorough research before engaging in transactions or sharing personal information.