Private Scandinavian Sparkasse (of Panama)

M

milktruck

Anybody heard of these guys? They are offered by an IB that also offers Hotspot, but Im not sure they are in the same league.

I mean, their name says scandinavian but they are out of panama...

http://www.psstr.com/aboutus.php#top



Can US residents trade at non NFA regulated firms? I never know whats kosher anymore...

I know Panama is a Latin American financial center, but how sketchy is it?
 
then again, their careers page lists jobs in:

Central Sweden
Copenhagen
Dusseldorf
Eastern Finland
Geneva
Helsinki
Hong Kong
London
Luxemburg
 
After googling - they are registered in Sweden with the organisation number 769613-9927 and are associated with "Trust Ekonomisk förening."

http://www.fi.se/Upload/20_Publicerat/10_Daglig_arendelista/2006-04-12.PDF

https://poit.bolagsverket.se/KPNPublikWeb/visaUtgava?namn=PoIT+Utgåva+2008-05-30

www.hcbtrust.net

It looks like "Bolagsverket" is some kind of directory/registry for organisations/businesses, so they might have something more.

It was registered in 2006 and seem to be working since 2008.

"Private" is a famous international porn brand from Sweden, and I would not be surprised if that has something to do with it. I can't understand why someone from Sweden would name their company thus, if NOT associated with the owner.
http://en.wikipedia.org/wiki/Private_Media_Group
 
It look like this panama company is under the swedish bank. Has anyone dealt with this company? How are they? Is a clearinghouse owned by a bank offer better execution? I am thinking about opening an account with dbfx, are their execution any better?
 
stay away from Panama companies in general. The reason companies use this place is usually not going to be good for debtors or the accounts of customers.
 
Let me clarify what I tried to say in my previous post.

They are not supervised by the Swedish Financial Supervisory Authority. In fact they never were, and their Swedish company has been registered as bankrupt by the Swedish authorities.

So in short there is no connection to any Swedish bank or Swedish authority. You may then draw your own conclusion and decide if you want to deal with a company with this type of background and with such a bogus statement about its affairs.

Be safe....

/k
 
The CNV here in Panama have strict regulation and if this outfit was regulated here they would give there regulation number in the website. I cannot find there name anywhere here and doubt that they are operating with the regulated authority of the CNV.
 
@Gringinho: I tried the links you provided but found nothing regarding the legality and jurisdiction of the company. I did a further research and obtained this web address, https://foretagsfakta.bolagsverket.se/fpl-dft-ext-web/grundInformation.seam?cid=20739.

According to its register, they are registered as Trust Company providing Wealth Management and Deposit services in Sweden. I also found its website too, www.psstrust.com.

Additionally, I was able to track down PSS Forex (www.pssforex.com) in Panama, which seems like one of the operating divisions. It handles all foreign exchange related activities of the Parent Trust Company. I see that their structure is very similar as Deutsch Bank, where they put their Forex operation division, DBFX, offshore.

Anyway... Enough with Jurisdiction, has anyone who actually traded with them has any comments on their services?
 
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