SFEX (sfexvip.com) claims to be the best at what they do. The platform claims to be the only trading platform with a difference. Super Finance Exchange is the full name, and members have been in for a rude shock. The platform fails to allow any withdrawals and blocks all communication once deposits are made. Several investors have lodged complaints against the platform for these very same reasons. Please find out more in our exclusive SFEX REVIEW.
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According to the about us page, SFEX was founded by well-known institutions. Unfortunately, that’s all we get as the platform conveniently fails to name these platforms. It could as well mean we are dealing with an anonymous group.
You would expect more transparency from a platform expecting to safeguard your interest. After all, the investment you make with them should be enough. Unfortunately, Sfexvip.com fails to grasp this and intentionally refuses to give vital information.
What we have is a platform that doesn’t seem to care about the welfare of investors. Members have been complaining as a result of withdrawal delays. And this pushed us to investigate the platform further.
It seems that the platform is another deposit-only platform. Super Finance Exchange plans to escape the ropes by exiting soon. Unfortunately, it’s an exit scam that lures investors into believing it’s an exchange platform.
There’s no way of recovering your funds once you deposit with them. Despite claiming residency in St. Vincent and the Grenadines, there’s no proof. We are dealing with a ruthless broker.
If you look at the website design, you will find it’s a professional-looking website. And this proves that the people behind it have some forex experience. But, of course, all this is an attempt to fool naïve investors.
Before you invest in any platform, experts recommend doing due diligence. Try and find out from other investors about the experience with the platform. It will give you an idea of what to expect with the platform.
SFEX provides two trading accounts, and these include ECN and VIP accounts. Each of these accounts is best suited for different classes of traders. In addition, the accounts offer several distinctive features.
Here’s a closer look at each of these accounts;
ECN
With the ECN account, the platform promises competitive commissions and tight spreads. In addition, the platform promises an institutional-grade pricing model with its ECN account. However, there’s no mention of the allowed minimum deposit.
VIP
The VIP account is what the platform heavily sells to investors. There are three investment plans, each offering a different package. The difference between these packages includes features and the expected vesting period.
(I Month)
For the one-month package, there’s an initial deposit of $24.9. After that, the account offers 0 commissions and claims to offer 24/7 support. You also get a promise of free withdrawal one time each month. There are no other notable features.
(6 Months)
With the 6-months account, investors have to deposit $23.1 per month. However, the account offers the same features as the one-month account. Your only difference is the multi-management account software available for trading.
(12 months)
According to the platform, it’s one of the most popular accounts. Investors have to make a monthly minimum deposit of $20.75. You get multi-management software and an open AP1. Unfortunately, none of these three VIP accounts come with a demo feature.
There are a lot of missing features with these accounts. It seems that the platform takes over your trading once you deposit funds. There’s no available leverage or spreads with these three VIP accounts.
It’s only with the forex trading assets that we see leverage mentioned. You get maximum leverage of 1:100 on major and minor currency pairs. Spreads start from 0.4 pips with a staggering 536.4 pips for BTC/USD.
The lack of demo accounts is demoralizing as investors can’t test the platform's accuracy. However, if the platform intends to take over your investments, it should give you its expertise. And this is where a demo account comes into play.
The platform wants investors to take their word for it without a demo account. We don’t know the accuracy of their robots or the outcome. Investors may as well give away their funds for free. You won’t get the chance to trade as the platform trades on your behalf.
Investors get a chance to trade with five classes of trading instruments. These include commodities, cryptocurrency, forex, indices, and stocks. The commodities found include cotton, gas, sugar, and wheat.
You get to trade leading cryptocurrencies such as Bitcoin and Ethereum. The platform pairs these cryptos with major currencies such as EUR, GBP, and USD. We noticed that the platform offers insane spreads for crypto assets.
Forex trading happens to be at the core of the store’s trading activities. The platform pairs several currencies against each other. Most of these pairs enjoy maximum leverage of 1:100. As a result, spreads are not as tight as the platform would lead investors to believe.
There’s little information as to who owns or runs the platform. The disclaimer claims SFEX Global LLC is the parent company. However, details at the bottom of the homepage indicate an offshore registered entity.
We all know that brokers escape strict regulatory supervision in such jurisdictions. And this makes it easy for them to maneuver and defraud clients. You will notice that there’s no name mentioned with these assets.
And this is an indicator that the owner doesn’t want any recognition from investors. That makes it impossible to track where the platform stores funds. Those who attempt to hire recovery agents end up losing more.
The platform doesn’t protect the interest of investors as these agents are part of the scam. Information about you gets to these agents thanks to the platform. These agents will make first contact and claim to have won a lawsuit against the platform.
All you have to do is cover the legal fees to get part of the settlement. Sadly, these agents are the final nail to the coffin. You won’t get anywhere with them as they too will block communication. Once you cover the said fees, these agents go away.
Despite claiming to offer 24/7 support, that’s not the case. Instead of offering live chat support, investors are to leave a message. Your message determines whether the platform will respond or not. If it’s about withdrawal, no response will be forthcoming.
There’s no assurance from the platform that your funds are safe and secure with them. You won’t get insurance cover as the platform doesn’t even segregate accounts. These are the position the platform puts investors in once deposits are made.
SFEX is not a licensed or registered platform. Those who have invested with the platform have nothing good to say about it. We recommend that you stay away from unregulated platforms. To add salt to injury, sfexvip.com is an anonymous platform.
After exposing the platform, it’s best to stay away from it.
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Please drop a comment or email us with any queries if you have anything to add.
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