Set Market Trade / www.setmarkettrade.com has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". Firm states on website they are registered with The FCA when not - Breach of s24 This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.setmarkettrade.com.
After seeing ads for Set Market Trade / www.setmarkettrade.com online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Conduct Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Flagged by Financial Conduct Authority|Cannot verify credentials
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Set Market Trade / www.setmarkettrade.com recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Easy withdrawals|Real-time alerts|Tax reports included|Competitive fees
Cons: Account statements could be more detailed|Inactivity fee applies after 12 months
I invested $10,000 with Set Market Trade / www.setmarkettrade.com after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Financial Conduct Authority.
Pros: Professional looking website
Cons: Blocked my account|No legitimate license|Fake returns
The only good thing about Set Market Trade / www.setmarkettrade.com is that they remind you why regulation matters. I found them after hearing about them at a conference. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Regular platform improvements|Clean UI|Good analytical tools|Personal attention
Cons: Spreads widen during volatile periods|Mobile app could be improved
I gave Set Market Trade / www.setmarkettrade.com a fair chance. After for about five months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: No hidden fees|Real-time alerts|Transparent fees|Social trading features
Cons: Desktop app not available on Linux
The spread at Set Market Trade / www.setmarkettrade.com is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after reading several online reviews and initially thought the platform was good - until I started trading seriously.
Pros: Easy withdrawals|Educational resources|Risk management tools|Automated trading options
Cons: Currency conversion fee exists
My withdrawal request from Set Market Trade / www.setmarkettrade.com has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Risk management tools|Segregated accounts|Copy trading available|Wide product range
Cons: Would like more payment methods|No crypto staking