SiiFX (Siifx.com) is a CFDs and Forex scam to hit the lucrative Forex trading world. Sii FX is claiming to offer users real market liquidity as well as a one of a kind trading experience. SIIFX is offering anyone who signs up trading commodities such as Forex, precious metals, Crude oil, and US-UK Stocks. These are all empty claims and promises as we will reveal in this detailed SiiFX review.
Scammers will do or say anything to try and make their products and services appear real. Sii FX has done the same thing by creating a website that easily entices the eye. With moving images, one would easily believe they have landed on a true broker’s page. Don’t let what your eyes see, there’s more than meets the eye. Our investigation will reveal all the dirty tricks used to lure unsuspecting online investors.
Claims and promises are one of the biggest selling factors that scammers use to sign up people. With claims of depositing and withdrawing easily with AI support, newbie traders will be enticed by this. That’s not all; this broker issues a welcome bonus of $5,000 to anyone who signs up. To add salt to injury, they claim that Sii FX is a global broker who is recognized all over the world.
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Disturbing issue with ownership of this site is lack of no given information. This broker fails to issue any information regarding who actually owns this trading platform. And this is a red flag because depositing money with an anonymous broker is never going to happen. How do they expect us to deposit money with an unknown entity? For all we know, this could be a front for funding the next terrorist attack!
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Why have they failed to give us names of the people behind the day to day operation of this platform? Who is the CEO or CFO of Sii FX? Lack of these crucial information means we are dealing with an illicit broker. Best thing to do is to stay away from any online investment opportunity that screams anonymity. It’s clear we are dealing with a professional scam outfit that’s ready to rip off investors.
Don’t believe what their website states regarding this brokerage firm licensing terms. They claim that SiiFX is licensed in accordance to business registration number 10777068 is a lie. According to the statement given, they claim that they have been licensed by the UK government. If this was the case, why have they used a random number? UK financial regulatory bodies do not use this algorithm to license or register financial companies.
If indeed this broker has been properly licensed, where are their documents to prove it? A real broker will easily post certificates and documents to prove authenticity. With this broker, there’s nothing of the sort. This broker simply does not have any real certificates or documents. Folks, we are dealing with a fictional broker who uses false claims. Use of this registration number is proof we are dealing with a rogue Forex broker.
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SiiFX is offering users four different account types to choose from. These account types include Standard, Gold, VIP, and VVIP. Minimum trading deposit required to start trading with Standard account is $10. Does this mean that you will also get a $5,000 welcome bonus? To be honest, this is just another fake Forex scam. Minimum deposit required is way too low for a professional Forex brokerage firm. This is not the accepted industry standards.
Another disturbing detail with their accounts is the fact that users trade 24/7. Does this mean that the markets don’t close during the weekends? Always watch out for brokers who claim that users can trade 24/7. This is another bag of trick used by scammers. VVIP account holders must make a deposit of $50,000 to start trading. Problem with this account is that it has the same perks as a standard account. There’s no vivid difference with these accounts.
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According to their platform’s page, this broker uses MT4 trading platform. Claims that this platform has strong features are all lies. These features include having a user friendly interface, advanced analytical functions and more. In order to test their credibility, we decided to download this platform for ourselves. And this is where we faced our next red flag, download stalled at just 4%.
It means that their platform is highly unstable which spells doom for traders. An unstable platform leaves traders vulnerable to attacks from hackers. Hackers find unstable platforms easy breeding ground for credit card information. Once they gain access to this platform, they are able to retrieve your credit card information. As you can see for yourself, their homepage is not secured. A real broker will have SSL encryption at all times.
There’s no way your funds will ever be safe with a broker who is not licensed. No funds are secure with a broker who is anonymous and unregulated. Have you noticed that they fail to give users valuable information. Where do they bank money deposited by users? Did you know that members could be depositing money straight to the owner’s personal bank account? Now you know better than to give your money away.
Another disturbing detail with security of funds is lack of segregation of accounts. What this means is that SiiFX is pooling funds in one account. And this is a very dangerous practice as funds maybe lost all at once. In case of bankruptcy or insolvency, this broker will lose your money. And don’t expect any compensation from this broker. Sii FX does not participate in a compensation scheme.
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This broker has gone a step further into rigging their demo account. A rigged demo account means that the results have been altered in favor of users. This is usually done to entice investors into believing they can make money with the broker. Once the investor signs up with a real account and deposits money, that’s the last they will see of it.
Results with the demo account are staggering; users make over 90% successful trades. Note that these scammers have rigged the demo account for a purpose. They want you to believe that the same results will be mirrored in a real account. What you don’t know is that with a real account, you are required to deposit real cash. This is another concrete reason to stay away from this shameful Forex scam.
Evidence clearly shows that we are dealing with a rogue Forex broker. From their level of anonymity to lack of proper licensing, SiiFX is a Forex scam. Make sure to mark all their emails as Spam and never click on any links sent. Warn your friends from signing up with this broker. Resist all attempts and calls to even try their demo account.
Concrete evidence leaves us with no other option but to add this broker to our scam blacklist. With this done, we hope that relevant authorities will look into this scam and shut them down. This is the only way to keep newbie traders safe from this rude Forex broker. Don’t become their next victim, stay away from this Forex broker.
Always sign up with Tested and Trusted Forex brokers at all times. Make realistic profit margins by partnering with Authentic Forex brokers. Stay safe and sign up with Recognized and Recommended Forex brokers at all times. This is a sure way of making money with Forex trading.
Finally, we wish you all the best in your future Forex trading experience.
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