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Sigma Trade Finance Review – Spinning A Web Of Falsehoods

Sigma Trade Finance Review

It’s difficult to believe that a company that allegedly has 11 years of high quality service would be a virtually unknown name in the industry. Bar a few Sigma Trade Finance reviews, there’s virtually no content to be found.

Unfortunately, the horrible truth is that we’re dealing with a misleading website, intended as a front for fraudulent operations. Keep reading our Sigma Trade Finance to learn more about online investment.

General information
Name Sigma Trade Finance
Type of the company Investment Firm
Regulation status Unregulated
Warnings from Financial Regulators No Official Warnings
Website link sigmatradefinance.com
Active since 2023
Registered in Canada/US (alleged)
Contact info +1 (438) 795-1717

+1 (903) 829-3525

Trading platforms None
Majority of clients are from Canada, United Kingdom, India, United States
Customer support Online Form
Compensation fund No

Falsified Documentation

The group that runs the Sigma Trade Finance scam tries to push the idea that they are a fully regulated financial services provider. To deceive their investors, they present a falsified document allegedly issued by a non-existent Canadian authority.

When we inquired with the CSA, we found no information about a firm called Sigma Trade Finance Inc., as the firm is not licensed in Canada. The firm has entered the Canadian business register, and that is all. The site also contains allegations of a business branch in the US, which doesn’t appear in the NFA register either.

As for the permission to offer EEA traders their services, the alleged MFSA and CySEC licenses were never issued for this domain.

Forged licenses do not suffice in terms of funds safety, segregated bank accounts and compensation funds, so it is in your best interest to avoid this sham and the likes of it. CoinBriteFX is certainly one of them.

Keep Your Guard Up

We have managed to learn that the sigmatradefinance.com site was launched in September 2023 by searching the WhoIs database.

With additional information from our traffic analysis tools, we determined that the most affected regions are these:

  • Canada
  • United Kingdom
  • India
  • United States

Con sites like this one, or Lion Trader for instance, rely heavily on boiler room agents to attract new victims. These agents call people by phone in their search for potential investors. They are known to call multiple times a day, and use threats and extortion to squeeze the money out of their marks.

We strongly advise against trusting your money to unverified firms. If you’re seeking a great opportunity to supercharge your career with a high quality service, take a look at what we’re offering on our site.

Cutting Edge Platform Is Missing

Among other services, the company advertises providing white-label technological solutions to other financial service providers. They say that this software is available to the company clients as well, yet we couldn’t find a single trace of it in the client dashboard.

What you get instead is a couple of ticker crawls and price charts imported from TradingView, an unaffiliated market information bulletin.

All that a client can do is select an investment plan from a list, and make a blind leap of faith by trusting their funds to a so-called automatic trading robot. While some investment tracking utility is provided, it is far below any average in the industry.

Plans Promise Huge ROI

After establishing that no trading takes place on this investment domain, we tried exploring the  mechanisms of investing. These packages do not feature any particular information that would be otherwise useful for deciding what to go for. 

All you will ever find are the promises of jokingly high guaranteed profit that is simply unachievable. Even for this ghostly technological solution they advertise in the form of trading robots.

Here’s the list of minimum deposit requirements per each bundle:

  • Basic – $500, weekly profit 8.5%, referral bonus 10%
  • Gold – $10,000, weekly profit 10.2%, referral bonus 12%
  • Premium – $30,000, weekly profit 15%, referral bonus 15%
  • Platinum – $50,000, weekly profit 20%, referral bonus 25%

Referral Bonus Trap

Why would the fraudsters bother themselves with bringing in new victims when the existing ones can do that for them. This is what referral structure (Ponzi scheme) is in essence. 

For each affiliate you get to sign up using your referral link, you’re promised a percentage of profit from their deposit/commissions paid. The more expensive an account you buy, the higher the bonus. 

Empty Promises About Instruments

It’s unclear how many assets should be available to trade in the first place. One page states 2,500 distinct instruments, the other 10,000, while another yet advertises a whopping 150,000!

Unfortunately, the company doesn’t offer full disclosure on the individual assets, and seeing how they don’t really have a trading app, we can just dismiss this as false advertising.

The firm mentions these asset groups:

  • Currencies
  • Futures
  • Bonds
  • Funds
  • Stocks
  • ETFs
  • Metals

Not What You’d Call A Cheap Service

Spreads start at 0.3 Pips for the benchmark EUR/USD currency pairs, while trading Futures and Bonds incurs a minimum fee of $1.5 per position.

Trading stocks and ETFs is charged $0.02 up to 0.12% depending on the specific market. Other charges are quite hefty, including a $50 inactivity fee, and $30 withdrawal fee.

Margin trading is especially expensive, with clients that overstep the allotted margin getting slammed by a 100% p.a. value. This may be averted by manually closing the transaction, but it costs $90 to do so.

Truth About Payment System

The process of account funding and profit payout are so vague that nothing is concretely known. What additionally makes things worse and more confusing are the missing legal docs! A small portion of one page lists several base currencies accepted for depositing and says that bank transfers are the allowed method of transaction.

As for the withdrawals, the costs of request processing are completely left out except the fee we already mentioned. Applications are promised to be processed within one business day, while the funds take from 3 to 5 days to arrive. 

Make A Better Choice!

Are you passionate about Forex price-speculating but feel like you can’t trust just any brokerage platform with your funds? We have just the right alternative for you. If you’re a talented trader and would not like risking your own capital, proprietary Forex trading is the best solution. 

If you’d like to learn more about alternative sources of financing your Forex endeavors, contact us and book your free consultation with our prop firm representatives.

FAQ

What is Sigma Trade Finance?

It is a scam company that asks for huge deposits and lies about their regulatory status.

Is Sigma Trade Finance Regulated?

No, the conduct is operating illegally and tries to appear legit by lying about licenses.

What is the Difference Between Brokers and Proprietary Firms?

Brokers often demand high deposits, while you can trade with another corporation’s money when being on a prop firm server.

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