Do you want to trade with Sarpec FX? Why Sarpec.com is not a genuine broker! Read detailed Sarpec FX review to know about this platform.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
Table of Contents
What is Sarpec FX?
Sarpec FX also known as Sarpec.com is an offshore brokerage company with a lot of promises for forex traders. The broker happens to be completely unknown as there is no information about the entity that stays behind this website.
Also, the company claims to be under the governance of Saint Vincent and the Grenadines law.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
Sarpec FX Minimum Deposit:
Sarpec FX deposit is not indicated. In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with no fear of their investment.
As for the payment methods, clients could deposit via VISA, Mastercard and Maestro.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
According to Sarpec withdrawal FX, withdrawal process takes 10 business days. The broker also said minimum withdrawal is $10 and zero fees for one withdrawal per month.
Sarpec FX Platform:
Sarpec platform only offers web based trading platform with no mention of MT4 or MT5 (Industry standard trading platforms). The good things about MT4 or MT5 are features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
As for Sarpec FX leverage, nothing is said. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Why You Should Avoid Sarpec.com Forex Broker
First and foremost, Sarpec.com is headquartered in St. Vincent and the Grenadines where there are no laws and requirements in the sphere of forex trading. The local Financial Services Authority SVG does not monitor or regulate brokers. Take a close look at their warning.
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Sarpec FX Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Lastly, Sarpec FX located at Sarpec.com claims to be a trustworthy trading broker, however, that cannot be ascertained. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
In case you found this information valuable, please share with us your experience on the comment section below.