Beware of Trade Propel: A Scam Alert from InfoFinance

The Financial Services Authority of Seychelles (FSA) is issuing a critical public warning regarding Trade Propel, a company falsely claiming authorization and regulation by the FSA. This notice serves to alert investors, licensees, and the general public about the deceptive practices employed by Trade Propel and the associated website, https://tradepropel.com/.

A Fabricated Facade: Unmasking Trade Propel's Deception

The website https://tradepropel.com/ makes unsubstantiated claims of being a legitimate financial services provider operating under the authority of the FSA. This claim is demonstrably false. The FSA unequivocally states that Trade Propel is not a known entity, does not hold a valid license, and is not regulated by the FSA in any capacity. Additionally, the website itself has no connection to any FSA-licensed or regulated organization.

Protecting Yourself from Financial Fraud: The Importance of Due Diligence

The FSA strongly urges investors and the public to exercise thorough due diligence before engaging in any financial activities with unfamiliar entities. This includes conducting comprehensive research on the company, its service providers, and any representatives involved.

Crucially, this research should encompass the following aspects:

• Company Verification: Can you find legitimate, verifiable information about the company's existence and operations?
• Licensing Verification: Does the company hold a valid license from a reputable financial regulatory authority?
• Website Scrutiny: Is the company's website associated with a known and trusted financial institution?

Red Flags to Heed: Warning Signs of Potential Scams

The deceptive tactics employed by Trade Propel serve as a stark reminder of the importance of vigilance in the financial landscape. Here are some key red flags that should raise suspicion:

• Unfamiliar Entity: If you cannot find any credible information about the company, it's a significant cause for concern.
• Dubious Licensing Claims: Verify the existence and validity of any claimed licenses through official channels.
• Unregulated Website: A website not linked to a recognized financial institution is likely a red flag.
• Exorbitant Return Promises: Be wary of unrealistic promises of high returns on investment.

Taking Action Against Financial Fraud

If you suspect fraudulent activity, the FSA encourages you to take immediate action by:

• Reporting the Scam to the FSA: File a complaint with the FSA via email at [email protected]
• Contacting Local Authorities: Report the suspected scam to your local law enforcement agencies.

The Financial Services Authority is committed to protecting investors and maintaining the integrity of the financial services industry in Seychelles. By raising awareness of scams like the one perpetrated by Trade Propel, the FSA empowers individuals to safeguard their financial interests and make informed decisions.

Remember: Protecting yourself from financial scams requires a proactive approach. Always conduct thorough due diligence and remain vigilant against deceptive practices. If something seems too good to be true, it probably is.