ASIC warns against Brighter Trade, uTrader and IDX Trading

The Australian financial regulator ASIC has published warnings about three unregulated brokers and three other unregulated investment services.

The first three companies from the ASIC’s list below are brokers, meanwhile the three others offer different investment services.

All these companies are soliciting residents of Australia but are not authorized to provide investments services. They are not regulated at all, they cannot legally operate in any country with financial regulation.

  • Brighter Trade
  • uTrader
  • IDX Trading
  • Kingsman Investments Limited
  • KML Investments Limited
  • Financial Capital Alliance Asia (FCAA)

For trading use regulated brokers only.

1 thought on “ASIC warns against Brighter Trade, uTrader and IDX Trading

  1. Brighter Trade got me for $500 US,which was $700 from my bank account!!!
    They tried over and over to get me to invest another $$1000 which =$1400,plus $700 a total of $2100 Australian.
    I refused to go any further,with calls coming from Estonia every day.I had to buy a new phone,so I could make a note of the different phone numbers,to allow me to block them.
    However,as recently as last week,they were still hassling me,with a different mobile number.
    They have smooth talking operators,who are professional con men.
    I believe i have 28US dollars in my account,but you cant draw out less than 100,so they cover all exits.I repeatedly said I wanted to withdraw my money,fully,before I lost it.It disappeared soon after.STAY AWAY!!

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