SFX Markets Reviews & Comments 2019



This is what i received. Dear valued customer, Despite the overall successful and fruitful year of 2018, we deeply regret to inform that the financial industry is currently undergoing Anti Money Laundering and Know Your Customer mandatory surveillance procedures due to the intense pressure from EU regulatory authority amid the recent alarming high-profile money laundering scandals in the region. The exercise is also in line with the current global enforcement of checks and control over all financial activities by the financial institution regulators. In view of the above, there will be inadvertent delay in payment of your withdrawals during this period of time and concurrently we would advise that deposits for new investment be deferred until the completion of the compliance process which you will be duly notified. We are part of the financial institution who is fully committed to abide by all the regulations and compliances for the interests of all our customers, as such your understanding and patient is much appreciated. We apologize and regret for all the frustration and inconvenience caused. Thank you.

Alex   18 April, 2019  

Its a scam broker. Just stay away. My friends lost their life savings to this broker thru their proxies partners in asia. Now they are keeping the profits + deposits citing anti money laundering compliance. From what i see its a total scam. Good luck all.

Alex   7 April, 2019  

Same here. I made a request to withdraw my funds of US$11K+ by wire transfer on 11 Jan 2019. About two weeks later on 23 Jan 2019, my money was still not returned to my bank account. Upon asking, SFX replied that my withdrawal request was being reviewed by compliance team. Four weeks later on 7 Feb 2019, I asked SFX again when my withdrawal will be processed. Guess what? SFX replied that they do not know and they refused to check with their compliance department! On 14 Feb 2019, I told SFX that if my withdrawal is still not processed, I will raise this issue at the FPA. SFX replied that they will process ASAP. Since then, I have not heard anything from them and my funds are still not returned to me. By any industry standard, I don't think any broker requires more than 1 month to process a withdrawal request by wire transfer. I am afraid SFX does not intend to return my funds (which are mostly made up of my deposit and some profits). Please stay away from this scam broker if you cherish your hard earned money.

Dave   28 February, 2019  

Currently big issues with SFX as unable to withdraw funds.

Charles B   21 February, 2019  

I'm having the same issue. I've been trying to withdraw my money for a month now, and they come with all sorts of excuses. They take days to reply and have not presented a good explanation for this issue. That's frustrating. Definitely not recommended. Do not give your hard earned money to them. Choose a Australian broker instead.

Luiz Roberto   25 February, 2019

Great option for beginners. Company offers many free features to help me develop my trading plan. I would say that some experienced traders could get lots of useful information from webinars too. Online courses and webinars helped me to develop the base of understanding fundamentals. It’s about market structure, variety of trading strategies and market analysis. Moreover, broker offers market review on daily and weekly bases. I honestly wouldn’t say it works perfect but helps me to filter some wrong signals based on my own approach. Good broker in general.

Sean.J   24 July, 2017  

I've registered demo account and got tens of phone calls from support. They've asked me how is my trading and if I'm ready to open a real account. They don't want to know if I cannot trade profitably. The only purpose they make phone calls is to make me to open real acct and deposit real money. Doesn't matter if their customers lose money. I always thought broker is supposed to care about customers but not to force them deposit as much money as possible. But I think problem not only in my inability to trade profitably. It comes from lack of appropriate information how to use platform and how it works with different asset classes. For example, when I trade CFD on gold and low liquid stocks, I get the same quality of execution. It doesn’t have to be like that. This is absolutely different instruments and gold is supposed to be more liquid than any stocks. But it’s not.

fabian   25 August, 2016  

STP order execution is not good as expected. I invested $20K to get support for fix API trading but it has some bugs that make whole process not effective. I think to take a time out and wait until they fix delays. Definitely, twenty thousand dollars as initial deposit should guaranty much better processing and liquidity access. It seems a bit raw technology but they said it will be fixed in the nearest future. Let's wait.

TaSP   26 July, 2016  


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