Sigma FX Review – Anonymous Brokerage Pretending To Be Legit

This obscure brokerage is not even sharing its ownership or headquarters information. In fact, it appears the company has an office in Samoa. A country at the end of the world.

In any case, any brokerage must be regulated to provide financial services. Yet, for this firm there’s no hope. To find out why, read this Sigma FX review carefully!

Legal Information: Can We Trust This Firm?

Important to realize is that the company doesn’t reveal any legal owners. Therefore, it’s hard to look for their official registration in any database. Nevertheless, top-tier regulators like FCA, BaFin or ASIC never had any records of Sigma FX brokerage.

Yet, the company is targeting some highly regulated countries, primarily, the United Kingdom and the United States. With this in mind, you know there’s no doubt about their fraudulent services. As people like to say, there’s no respect among thieves.

On top of all, the Sigma FX is using logos of worldwide trusted banks. This way they are directly violating trademark laws. Allegedly, they are operating with Deutsche Bank, Barclays and Bank of America. But that’s just a trick to get inexperienced traders on board.

Who Are SigmaFX Victims?

Surprisingly, the company doesn’t have any publicly available reviews, even though they have been active since 2020. Apparently, they don’t offer services to strictly regulated countries. Yet, Belize is the one sticking out, which makes you wonder if they are registered there instead.

In any case, research shows that mainly scammed victims come from:

• India
• Indonesia
• Japan
• United Kingdom
• United States

But, the company is not authorized to provide services in any of the mentioned countries.

Trading Platforms Available

Another warning sign comes with the fact that this brokerage doesn’t reveal its software choice. Most likely, you can only use a web-based platform with some basic functionalities. Thus, with a zero credibility.

Keep in mind, that web-based platforms could be modified through the back end. Therefore, boiler room agents can create fictive market opportunities and make you deposit more money. This is why it’s better to look for a Tier 1 licensed broker with MetaTrader or cTrader available.

Can You Trade With Sigma FX On a Mobile?

Sadly, web-based platforms don’t include developed mobile apps. Instead, you have to bother with your trading experience through the browser. Generally, not the most convenient method. So, dear iOS and Android users, read our AFS-Equity review and find the best tips for software and broker choice.

Are There Any Hidden Costs With The Company?

In general, trading conditions play a key role in choosing an investment firm. If you will get unexpected expenses it’s not something profitable after all. Therefore, you are looking for attractive spreads and commissions. But also, low general fees.

However, SigmaFX brokerage didn’t think that was important. They just briefly mention the minimum spread starts from 1.2 pips. But with scam brokerages that’s rarely that low. 

As a matter of fact, they claim to have the lowest costs in the history of the business, whereas Tier 1 licensed brokerages offer spreads lower than 1 pip. On top of that, they are offering extreme leverage of 1:500 without negative balance protection.

What Are The Account Types You Can Choose?

With this firm, you can only choose between two account types. Yet, none of these present any significant benefits to investors. Especially without any funds protection features.

Not to mention the company is not offering a demo account. Instead, they shoot at your head asking for $5k for the first deposit. It should be noted that sometimes they can lower their standards and accept deposits of $500. The options are:

• Professional ECN
• PAMM

Funding Methods and Withdrawal Policy

One of the main worrying signs is that the company doesn’t have transparent legal documents. This way, they are hiding their deposit and withdrawal policies. Once you want to withdraw your funds, you can expect various issues and problems. But keep in mind that, with card transfers, you can apply for a chargeback.

Moreover, you should be aware of withdrawal tricks, such as fees, taxes or AML laws. All these are used by swindlers to either extend withdrawal processing time or prevent it completely. To learn how to recognize those, read our Athens Markets review.

How To Get In Touch With Sigma FX Firm?

With a raised number of fraudsters in the world, customer support has become quite an important thing. Therefore, you should be looking for transparent contact options, like landline phone numbers or Skype. Any other method could be fake, anonymous or hidden.

That’s exactly why Sigma FX broker offers only e-mail and web contact form. Not the most promising solutions if you like.

Pros And Cons Summarized

After all, you can see that unregulated offshore brokerages don’t offer any benefits. Primarily, this firm is hiding its ownership, software choice and fees. Not to mention their funding methods and withdrawal policies remain unknown. Therefore, too much room for manipulation.

Once you understand the beauty of AI tools like AI Analysis Bot with top licensed companies, the whole look about the trading changes.

Is It Possible to Make Money By Online Trading?

If you look at the business overall, you might think that every company is a scam. However, if you are trading with a Tier 1 licensed company, you can sleep tight. Of course, many traders are still losing money. But only due to a lack of experience and knowledge.

In these cases, we often recommend traders try out the AI Analysis Bot. Years of experience combined in one tool that learns by itself. Ultimately, you could improve your results with minimum effort. Not to mention that a first consultation with our team is free of charge. Get in touch now and find out more!

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