An investor reports having three trading accounts on Trive, all using the same trading strategy. Only the losing account passed withdrawal approval, while profits from the two winning accounts were deducted. The investor accuses Trive of unfairly preventing clients from profiting and demands a refund.

As of now, Trive has not responded to this complaint, raising further doubts about the platform's fairness and reliability.

FTI Data and Regulatory Analysis

FTI gives Trive a low rating, signaling potential risks. The platform operates under multiple entities, each with varying degrees of regulatory oversight. The following is a breakdown of Trive’s regulatory claims and their implications:

Key Regulatory Entities Listed by Trive

1. MFSA (Malta Financial Services Authority)

Trive Financial Services Malta Limited is licensed to offer investment services under the Investment Services Act. However, this license primarily covers the EEA region, with no clear guarantees for investors outside this jurisdiction.

2. ASIC (Australian Securities and Investments Commission)

The ASIC license (AFS 424122) belongs to Trive Financial Services Australia Pty Ltd. However, the license history shows multiple name changes, including FAIRMARKETS TRADING PTY LTD and ILQ AUSTRALIA PTY LTD, both of which ceased operations in 2023 and 2018, respectively. Investors should confirm that the entity operating their accounts is the current license holder and not an outdated or inactive entity.

3. BaFin (Germany) and CNMV (Spain)

Trive’s branches in Germany and Spain are registered with BaFin and CNMV, respectively. While these registrations suggest regulatory compliance within those countries, they may not provide robust safeguards for clients trading through other entities.

4. FINRA and SEC (United States)

Trive New York LLC claims regulatory oversight from FINRA and the SEC. However, the website explicitly states that services are not provided to U.S. residents, raising questions about the scope of this license.

5. Other Regulators

Trive also mentions licenses from Mauritius (FSC), South Africa (FSCA), Hungary (MNB), and Indonesia (BAPPEBTI), but the level of investor protection under these regulators varies widely. Mauritius and some other jurisdictions are often criticized for weaker oversight compared to top-tier regulators like ASIC or BaFin.

What Investors Should Know

1. Verify the Entity Operating Your Account

Always ensure that the entity managing your funds matches the one holding the license. For example, a claim of ASIC regulation is irrelevant if your account is operated by a non-ASIC-licensed branch.

2. Understand Regional Limitations

Regulatory protections often apply only within specific regions. If you are trading outside these regions, your funds might not enjoy the same level of security.

3. Beware of Misleading Claims

Trive has a complex web of entities across multiple jurisdictions, which can confuse investors. Ensure you research the entity you’re dealing with and its regulatory standing before depositing funds.

4. Check Withdrawal Policies

A common complaint against high-risk brokers involves withdrawal restrictions. Always test the withdrawal process early and avoid large deposits if there are red flags.

Recommendations

• Stick to brokers regulated by top-tier authorities like FCA (UK), ASIC (Australia), or NFA (USA). These regulators have strict requirements to protect investors.

• Verify licensing details independently on the regulator’s official website. For example, check FCA, ASIC, NFA, or MFSA databases to confirm the legitimacy of claims.

• Avoid brokers with unresolved complaints, unclear withdrawal policies, or inconsistent regulatory claims.

Before trading, check brokers in FTI app; if you encounter any problems, you can file a complaint for help.

Click here to see how to check if a broker is safe and what to do if you encounter a scam broker.

Click here to recognize common investment trading scams to avoid being scammed.

In the FTI app, you can refer to the top 100 forex brokers for your trading needs. If a broker is not in the top 100, pay close attention to their regulatory licenses, white label relationships, and risk warnings.

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