Nobody can guarantee profits in Forex trading. Please be aware (sic) of brokers that guarantee the safety of your funds or that claim that your funds will receive special protections such as FDIC insurance.
Then, as a last word, they offer this precious nugget: We are (sic) appreciate the trust of our clients place (sic) in us. In addition to all the above, Sigma holds all deposits with only highly reputable financial institutions. The site ends the list of the broker’s features with, The regulations set out into notice by these agencies are created to help ensure the safety of our clients’ deposits.
SIGMA CLIENT SCAMMED REGISTRATION
Sigma is a registered financial institution, and registered with the European registration authorities. The archived website also stated that, “Maintaining the security of your money is a major objective at Sigma.”Ībout their regulatory qualifications, the archived website questionably claims: The lowest spreads in the business, of just one pip in major currency pairs.This must have added substantially to their attractiveness to potential clients, perhaps getting them to overlook other flaws with the broker.Īdditional Features Claimed on Sigma Forex’s WebsiteĪccording to the archives, the now “unavailable” Sigma Forex website had a long list of claimed features, which frankly do not seem to matter much if clients are separated indefinitely or permanently from their funds by the probably-fraudulent broker. The broker apparently also did not charge commissions, rollover swaps or any other kind of fee, and permitted accounts to be set up in USD, EUR, GBP, AUD and CHF. With the No Dealing Desk account option, the broker’s website claimed that you could either direct your orders to the dealing desk or send them directly into the market with the no dealing desk feature. No Dealing Desk Account – where a $2,000 minimum deposit is required.įurthermore, both account types offer leverage ratios ranging from 1:1 to 1:500, as well as the ability to trade Standard, Mini or Micro lot sizes from the same account.Standard Dealing Desk Account – which can be opened with $500 minimum deposit, and.Since Sigma Forex’s official website can no longer be accessed, the recovered website provided by the Wayback Machine archives shows the forex broker touting their two types of forex trading accounts as follows:
Nevertheless, checks with that agency have shown that the company does not appear to be registered with the FSA, nor with any other regulatory agency, for that matter. In addition, the former Sigma Forex website cited a number of regulatory agencies that they claimed to comply with, including the Financial Services Authority or FSA in the United Kingdom. The Norway resident, Ingjerd Unsvag, was the Secretary of the company and may have provided an address for the company to receive mail at. The two living in Sweden, Mohamed and Catherine Karim, are registered as the company’s directors, and since they share the same last name, they appear to be related. According to that source, the information for the company had it listed with a London address and a companieshouse business number: 06481102, while the nature of the business was suspiciously registered as a:įurthermore, the officers of the company are all listed as British nationals living abroad in Norway and Sweden.
Nevertheless, some Sigmarex data previously on the website was able to be obtained from a third party. The company was at one time at registered as a business with, although a current search for the company at that website returned no results. Background on Sigma ForexĪccording to online sources, Sigma Forex’s real corporate name is SIGMAREX LIMITED based out of London, England. In the end of the article you can read about other forex brokers that are scamming their customers.
SIGMA CLIENT SCAMMED HOW TO
The company seemingly turned out to be just another fraudulent forex broker ( read more about how to choose a legitimate forex broker) that disappears into the night taking their client’s money with them and leaving a long string of customer complaints in their wake. A U.K.-based forex brokerage by the name of Sigma Forex has recently taken its well deserved place in the forex hall of shame.
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