In this digital world, where almost every sector is getting digitalized. People around the globe are now making digital transactions and trading at 3-fold speed, without having prior knowledge of trading. People easily get trapped in these trading platforms. A similar Forex scam by SanderFX had made people suffer and get trapped under Forex Trading Scam. Read our researched and honest SanderFX Trading review on the SanderFX Trading scam.
SanferFX Company Details
Regulated by: Unlicensed Company / No Regulation.
Scammers Websites: sanderfx.com (Inactive).
Broker-Owner: Sander FX (SV) Ltd.
Headquarters Country: Saint Vincent and the Grenadines.
Foundation Year: 2017
Trading Instruments: FX, commodities, indices, stocks, cryptocurrencies.
Free Demo Account: No, only live trading accounts.
SanderFX Brief Details and company goals
SanderFX is an online investment firm whose mission is to make trading an innovative investment experience for all and the company mission was brought by a team of IT and fintech specialists.
How does SanderFX make people fall into the trap and make them fool?
If you visit their website you will see, that they do not fall under any regulating agency. Which is a Major red alert for trading. The company also uses the following ways to attract a large number of people to its platform-
- Profits and Commissions method to attract people into their platform, which in turn were not true at all.
- Social trading, which is used by the company to track investments and social patterns of investors and people who use to invest. This type of strategy is completely illegal and not recommendable.
- Hefty deposits, they use to attract the people by displaying that you will get a bonus in the first deposit up to 100% to match your first investment amount which in turn is not true and falls under 100% marketing strategy.
- Hiding evidence of previous transaction history, for up to three months. These all things happen when the company is suffering from negative returns.
This platform is not right for a single investment and if you are still falling into the company’s marketing strategy then you are at your own risk. They also make your personal information at stake, which might get into the wrong hands like your credit details, contact details, transaction history, etc.
Also, they do not provide any demo account to perform the test and to get familiar with the operations before investing valuable earnings. They don’t even have any banking information to assure funds are safe. Even in some cases, they will put your money in a personal account too.
Deposit and Withdrawal
- Various deposit and withdrawal methods such as stellar, Ethereum, visa, bitcoin, etc.
- But be aware that crypto and wire transactions are irreversible.
- They do not have any refund and reclaim policy if their service is not as per your expectations.
- They do hold your money for a long time and may disappear with your funds and may expose you to hidden charges.
Hence, you must avoid any sort of investment in SanderFX. They do have lots of negative reviews around the internet regarding forex scams and you also can view our complete report as stated above. Report Scam can help you to perform your fund recovery.
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