Sato4X Review – Broker Raises Anonymity On Another Level
Sato4X broker is one of those limiting access to necessary information, but requiring traders to trust them. However, those two never go together. On top of that, one domain of the company is inactive while the other is blocking access from certain countries. It’s not strange that Ontario Securities Commission has something to say about it.
|Canada and UK (allegedly)
Sato4X Regulation and Funds Security
As the company claiming to have offices worldwide traders are expecting at least one trusted license. We are starting our research with Canadian IIROC and UK’s FCA registers. Unfortunately, the research didn’t bring up any results. We continued to search for their license in numerous institutions like FINMA, CNMV, CONSOB, CFTC and ASIC. Thus, every time we got the same result.
On the positive side, something else popped up. Ontario Securities Commission issued a warning against this company in March 2023. Since they are providing services without proper licensing the broker is completely insecure. Check it out yourself.
Especially for inexperienced traders that never had contact with such swindlers. Therefore, all potential protection that the broker is offering is just fictive. They are not obligated to comply with any laws if they don’t want. But only because nobody is monitoring their activities.
Trading Platform Overview
After checking Sato4X broker reviews we didn’t expect much from the platform either. The company only provides poorly designed web-based platforms. Therefore, trading on mobile devices is expected to be a nightmare.
Traders that love implementing new strategies and tools will be disappointed here. Features like algorithmic trading, social and copy trading are missing with this scam broker. But even if they promote such services, that data would be questionable. Primarily due to missing regulations.
Instead, we suggest traders to find Tier 1 licensed brokers with trusted software like Meta Trader. However, if you are a fan of fancy design, but numerous trading tools, cTrader is a good choice as well.
Sato4X Funding Methods
Generally speaking, licensed and reliable brokers have completely transparent funding options. But also a vast of them are available. On the contrary, the Sato4X broker scam offers only two choices. Those are:
- Debit and Credit cards
On the positive side, traders can file a chargeback within the first 540 days. In case they realize that this broker is scamming them. However, the deposit and withdrawal policy doesn’t reveal any information about processing time or fees. Especially not for withdrawals. Which leaves plenty of room for a broker to manipulate traders.
In this case, that is mainly obtained through shady bonus clauses that prevent traders to withdraw the profits. But have in mind that bonuses are widely banned for those reasons.
Account Types Available
All pros gained through account types are completely irrelevant. According to any Sato4X review, we can see that it’s all fake. Nevertheless, the broker promotes numerous assistance benefits. However, you won’t get any lower commissions or fees.
Sato4X account types consist of:
- Starter 250 CAD
- Bronze 10.000 CAD
- Silver 25.000 CAD
- Gold 50.000 CAD
- Platinum 100.000 CAD
How the Scam Is Undertaken
As we can see, the broker’s main goal is to extort more money from traders. Firstly, they are promoting automated trading options. Which they back up with signals. Word and mind games are their expertise. On top of that, the company has a malicious withdrawal policy.
But before you even get a chance to request a withdrawal you will face other difficulties. There is also a chance for market data manipulation through their web trader. In the end, they will slap you shamelessly high fees that you have to pay for withdrawal.
But the end result is always the same. The broker vanishes and you can’t get in touch with them again. That’s why regulation plays a key role in the trading world.
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The company is practically anonymous. All information presented on their website is fictive. Generally speaking, the Sato4X scam broker didn’t earn a warning without a reason. With shady software and a withdrawal policy, nothing more is expected. After all, numerous reviews from traders confirm all the statements mentioned above.
We are hoping that you understand the importance of regulations and transparency. That’s the only key to safe trading. Avoid headaches and choose your broker wisely.
FAQs About Sato4X Broker
Is Sato4X Offer a Demo Account?
No. Besides a live trading account, the company claims to offer a 7-day trial.
What Is The Minimum Deposit at Sato4X?
The minimum deposit requirement is 250 CAD, which is around 180 USD.
What Instruments Are Available for Trading with Sato4X?
Instruments that this scam company offers are: Forex, Commodities, Shares and Crypto.