Scala Trade is not licensed or authorised by the Monetary Authority of Singapore (MAS) to provide financial services in Singapore. You may wish to note that Scala Trade has been placed on the Investor Alert List (IAL), available on the MAS website (
http://www.mas.gov.sg/IAL.aspx). The IAL is a non-exhaustive list of unregulated persons who, based on information received by MAS, may have been wrongly perceived as being licensed or authorised by MAS. Scala Trade was placed on the IAL to alert consumers.
We note your suspicions that Scala Trade may be running a possible scam. Regardless of whether an entity is regulated by MAS, it is an offence to run a fraudulent or deceptive business in Singapore. If you suspect any criminal wrongdoing or fraud, you may report the matter to the Commercial Affairs Department (CAD), the principal white-collar crime investigation agency in Singapore.