XTrade.com not allowed to sell securities

XTrade.com, an electronic trading platform in securities such as Contracts for Difference (CFD), indices, commodities, forex, shares, exchange traded funds and bonds, is not registered with the Securities and Exchange Commission (SEC) as a corporation or partnership, according to a July 13, 2017 SEC advisory.

“It has no license to issue or sell securities in the Philippines, including those mentioned above,” it said, warning that XTrade.com’s officers, salesmen and agents are not allowed by law to offer or sell securities in the country, or to perform similar acts, whether online or not. (CTL)
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