Speed Live Trade is a forex broker officially registered on April 10, 2024. The broker primarily offers numerous trading markets, including forex, commodities, indices, bonds, cryptocurrencies, stocks, futures, etc., through MT4, MT5, and its own trading platform.
Corporate Registration Information and Regulatory Status:
Public information on the Speed Live Trade（speedlivetrade.com） website shows that the broker has multiple corporate entities and is supervised by different regulatory agencies.
The corporate entity registered in the United States is Speed Live Trade Ltd, with a registration number of 9291655-2. It is authorized and regulated by the "United States Financial Services Authority" with a license number of RD07599.
The corporate entity registered in Australia is International Capital Markets Pty Ltd with a registration number of 182 273 293. It is authorized and regulated by the Australian Securities and Investments Commission (ASIC) with a license number of 342893.
The corporate entity registered in Cyprus is Speed Live Trade (EU) Ltd, which is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with a license number of 493/16.
Meanwhile, the corporate entity registered in the Bahamas is Speed Live Trade Ltd, with a registration number of 36424 C. It is authorized and regulated by the Securities Commission of the Bahamas (SCB) with a license number of PIA-F629.
However, upon checking the "Regulation" page on the broker's website, it is found that most of the above information has changed. The registration number of Speed Live Trade Ltd has changed to 8413850-2, and the license number has become PD0159. International Capital Markets Pty Ltd's registration number and license number have changed to 136 249 209 and 239982, respectively. The registration number and license number for Speed Live Trade Ltd have changed to 86824 C and SIA-F634.
Upon verification, it was found that there is no financial authority named "United States Financial Services Authority" in the United States. International Capital Markets Pty Ltd is the corporate entity of the broker IC Markets, and the ASIC website reveals that the entity with license number 342893 is DJA CAPITAL PTY. LTD, a private financial services advisory company. Moreover, there is no entity with license number 239982 under ASIC. The CySEC website does not have any entity with license number 493/16, and SCB has no financial category named PIA. Also, there is no entity with license number F634 under the SIA category.
Therefore, the corporate registration and regulatory information displayed on the Speed Live Trade website is either fabricated or stolen from other companies.
Account Opening:
To open an account with Speed Live Trade: visit the homepage of the broker's website, click "OPEN AN ACCOUNT" to enter the account registration page, fill out and submit your personal registration information as required. Once submitted, the account will be successfully registered.
Trading Accounts:
Speed Live Trade offers three types of trading accounts: Speed Live Trade Trader Account, Raw Spread Account, and Standard Account.
Speed Live Trade Trader Account:
- Trading Platform: Speed Live Trade Trader
- Trading Commission (per lot): $3.0 (round turn $6.0)
- Spread: From 0.0 pips
- Minimum Initial Deposit: $200
- Leverage: 1:500
- Server Location: London
- Micro Lot Trading (0.01): Supported
- Currency Pairs: 64
- Index CFD Trading: Supported
- Stop Out Level: 50%
- One-Click Trading: Supported
- Islamic Accounts: Supported
- Allowed Trading Methods: All
- Order Distance Limits: None
- Programming Language: C
Raw Spread Account:
- Trading Platform: MetaTrader
- Trading Commission (per lot): $3.5 (round turn $7.0)
- Spread: From 0.0 pips
- Minimum Initial Deposit: $200
- Leverage: 1:500
- Server Location: New York
- Micro Lot Trading (0.01): Supported
- Currency Pairs: 64
- Index CFD Trading: Supported
- Stop Out Level: 50%
- One-Click Trading: Supported
- Islamic Accounts: Supported
- Allowed Trading Methods: All
- Order Distance Limits: None
- Programming Language: MQL4
Standard Account:
- Trading Platform: MetaTrader
- Trading Commission (per lot): None
- Spread: From 0.6 pips
- Minimum Initial Deposit: $200
- Leverage: 1:500
- Server Location: New York
- Micro Lot Trading (0.01): Supported
- Currency Pairs: 64
- Index CFD Trading: Supported
- Stop Out Level: 50%
- One-Click Trading: Supported
- Islamic Accounts: Supported
- Allowed Trading Methods: All
- Order Distance Limits: None
- Programming Language: MQL4
Trading Platform:
The Speed Live Trade website claims to provide MT4, MT5, and its own trading platform to users, but does not provide relevant download links. Additionally, the broker cannot be found on these platforms.
Deposit and Withdrawal:
Speed Live Trade supports deposits and withdrawals using credit/debit cards and e-wallets.
Summary:
Traderknows warns investors that Speed Live Trade is actually a scam website without any regulation. Investors are advised to choose brokers with transparent information, strong regulation, and good reputation to avoid unnecessary financial losses.
Currently, this broker is marked as "suspected fraud" on Traderknows.
