S&P Broker (Snpbroker.io) is a CFDs and Forex broker scam that must be exposed today. This broker is swindling people with fake claims and a mirrored name to gain attention. Claims that S&PBroker is a fast-growing company is all lies. This broker simply wants to get as many people to sign up and then go under. Here, we have damning evidence on how S&P BROKER has been operating a fraud.
According to one email sent by Yaniv Segal, he lost over $5000 within a day. This is sad that an investor can lose such a huge amount in such a short period. Doesn’t S&P Broker protect its user? This is sad that a broker does not intend to stop negative balance from occurring. And this is proof that we are dealing with a professional scam entity. No sane broker would ever allow this to happen.
Claims and promises are what scam brokers use to entice users into signing up. These scammers know that we all want to earn an extra buck, and they claim to make it happen. Need of making money is quenched by the claims and promises of making huge sums of money. S&P Broker claims to have a 186% customer growth in the past year. This is one of the claims used to make the platform appear valuable.
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Fact of the matter is, no one really knows who actually owns this trading platform. For a broker who is throwing huge promises, we actually don’t know who owns it. Why would they keep this hidden from us? This is what we refer to as anonymity. Anonymity is a dangerous character to have especially if you want us to deposit money with you. No sane investor should ever sign up with an unknown brokerage firm.
Bottom of the homepage is where you get who owns the brokerage firm. This is the norm with all brokers, in fact all service providers in the web. How comes that this broker has skipped this process? Why haven’t they revealed who actually owns this platform. As investors, we are only left with guessing who actually owns the platform. Is it one person, a group of people, or an entire company? Nobody really knows who actually owns this platform.
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S&P Broker has never been licensed to transact any third-party Forex transactions. What this means is that they have never asked for licensing. Next, they started asking people to deposit money with them for legitimacy purposes. There’s no regulatory body that we contacted that has ever heard of this brokerage firm.
What this means is that we are dealing with a broker who is without a doubt a sham. Why would we dare to deposit with them? An unregulated broker is bad news for users as they can be easily swindled. Sadly, there’s no way of contacting these brokers as they have no real address. Where are the registration documents? A real broker would have easily posted their registry details on the homepage for everyone to verify.
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According to the accounts page, S&P Broker claims to provide the best trading conditions. They also claim to offer the best training and advanced technology for customers. What they claim is that traders from different levels can choose their accounts with ease. Is this really true? This investigation will reveal more than what you expect. S&P Broker offers two distinct account types to users.
This broker gives users the option to choose between Standard and premium accounts. Standard account is apparently for people who are newbies at Forex trading. Premium account holders are for traders who have experience. Problem with these accounts is that there’s nowhere they mention the perks of each account.
S&P Broker has rigged their demo account into user’s favour. What they do is offer users a rigged a balance of $100,000. Note that this is simply a virtual balance and not actual money. Problem with the rigged account is that users will make over 90% successful trades. This ensures that the balance will go up. And this is what these scammers want from you, to believe you can make it with a real account.
Once you sign up with a real account, you will be asked to deposit with real money. Sadly, the results of S&P Broker demo account won’t be mirrored in the real account. What we believe is that these brokers are in league with other rogue brokers to steal money. They give false information so that they can share the spoils. Best thing to do is never open a Live account with these brokers as it will be a horrifying experience.
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Folks, funds are never safe with an unregulated broker. How can they be when all members are complaining? Who are the people behind this brokerage firm? And where are the deposits going to? Could this be a terrorist front to make money for the next attack? These are legit questions that we ask with no pun intended. Probably, members are depositing money straight to the owner’s personal bank account.
This broker claims to use MT4 trading platform which can be accessed by all devices. Sadly, we could not download their platform as it stalled at 48%. Why this happened is clear that we are dealing with an unstable platform. An unstable platform is bad for business as its prone to cyber-attacks. Hackers can easily gain access to this platform and steal personal data. Worse still, they can steal credit card information and wipe them out.
Without a shadow of doubt, we are dealing with a scam broker. From the level of anonymity to having an unstable platform, this is definitely a scam. This is why its best to stay clear from this beastly Forex scam. Nobody should ever go through the trouble of losing a huge amount of money at this level. Hopefully, relevant authorities will look into this broker and shut down their whole operation.
Only option we are left with is to blacklist this broker for the scam it is. This broker has gone ahead and tarnish the good Forex trading name. This is why we must stay away from this broker as much as possible. Ensure you mark all their emails as Spam and never click on any links sent by their email marketing team.
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