According to MyPrivateTrade.com Website:
MPT (MyPrivateTrade.com) was created by individuals at Simray Holdings LLC which has now become Simray ASA, a Norwegian company. MyPrivateTrade caters to traders across the world. They offer services in English, German, Dutch, Slovenian, Croatian languages to assist traders who don’t speak English.
All positions kept overnight are subject to a maintenance fee which is equal to one Pip Value on open trades. This maintenance fee is added to applicable trades at 22:00 UTC (GMT). If traders do not have any open trades at this time, there is no fee levied.
For traders wishing to open account with MPT (MyPrivateTrade.com), use of another person’s credit card for account funding is against their terms and conditions, and is expressly forbidden.
My Private Trade (MPT) is an affiliate of Simray ASA (Simray). When you trade with MPT, your trades are being processed and guaranteed by Simray. Simray is responsible for accepting orders and managing your MPT trading and commission funds. All trading funds for MPT are maintained by Simray in separate accounts with Union Bank of Norway and Barclays Bank.
As per the current EU Directives and EU Legislations, the trading activities of MPT (MyPrivateTrade.com) and Simray do not require and are not suppose to have a special license or approval from the Financial Authorities to conduct its business in the European Economical Area. The Norwegian laws of incorporation apply for any country within the European Economical Area.
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