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SL Markets (Sl-prime.com) is another bane CFDs and Forex scam trying to rip off unsuspecting investors. SLMarkets is professing to enable traders to enrich their trading experience. These claims and promises have driven some investors to open an account with this sleazy platform. Sadly, the results were not as expected as the platform is openly refusing to grant withdrawal requests. Read this genuine and honest SL MARKETS Review for more.
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After receiving complaints from victims of this platform, we decided to conduct an investigation. The scam artists will keep on directing you to another account manager to handle the transaction. In the end, they give excuses such as your bank not being able to receive funds from their systems.
Such blatant lies have been used time and time again to swindle funds from online investors. And this is why we must expose these scam artists and ensure our readers don’t fall for them. Thanks to our years of investing and trading, we know how to spot a scam from a mile away. These scam artists are now using call agents from Asia to act as account managers. The problem is that these account managers don’t have a clue on how trading works. They just insist you deposit more funds.
According to their about us page, these scam artists claim to have started trading in Cyprus. They claim SL Markets is a company which was founded in 2014. What this means is that they have been in the industry for over five years. These claims are false as no one in Cyprus or the EU region seems to know them.
Anonymity is another scary feature with SLMarkets. No one knows who the founding members of this platform really are. We contacted several brokers and investors from the EU region and none seem to know this platform. With claims of having being in existence since 2014, you would expect some form or recognition. No one knows who the founding members of this platform really are. Can we get the names of people who are running the platform?
Since the platform claims to be a Cypriot based platform, we checked with CySEC to confirm their status. The search engine bore no results which mean SL MARKETS IS NOT LICENSED to operate Forex services. These scam artists are using random names and locations to try and fool European investors. . Sign up with platforms which have been given the green light by ASIC, CONSOB, CySEC, FCA, NFA, and SEC.
The disclaimer at the footer of their homepage suggests that SL Markets is a world renowned trading platform. So where is their trading license? You would expect a platform such as this one to post copies of their license certificate. The entire website has no information regarding their license and registration number. And this is proof we are dealing with an unregulated platforms. Any investor who signs u should know funds are far from secure with an unregistered online entity.
A smart investor knows the best way to make money is by having a reliable and trustworthy broker. You should sign up with a top rated broker who has years of trading experience. Make the bold move today and sign up with dependable and effective online brokers. These brokers ensure you place the right trades by providing the necessary information. What are you waiting for? Sign up with a reputable broker today.
We could not come up with any advantage of dealing with an anonymous and unlicensed online platform. The risks involved are huge and the results show as more and more victims come out. These anonymous websites which use random company names are in most cases offshore brokers. With the number of scam related incidences reported, offshore brokers are to blame.
SL Markets is furnishing users with three account types to choose from. Accounts listed include General, Standard, and Zero accounts. The minimum deposit for the general account is $250 which is below the industry set limit. What this means is that the platform is targeting newbie traders and investors. You should know that $250 will give you a reliable and reputable broker. These accounts are similar in nature and offer almost the same features.
Another disturbing feature with this platform is lack of a live chat support. You would expect a platform with so many years of trading experience to offer a proper communication channel. If you don’t find this weird, you are in the wrong planet. A phone number is essential and a must-have in all websites. It is clear these scam artists don’t want any direct communication with members.
How SL Markets has been operating for years without a demo account is beyond our comprehension. You would expect the platform to have a demo account for newbies to test their platform. A smart investor will check out a demo account before committing to a real account. With a demo account, you get to know how fast the platform executes trades and advanced tools available. Without a demo account present, it means users are signing up blindly. Stay away from platforms which don’t offer a demo account.
According to their platform page, SL Markets is claiming to offer MT5 trading platform. They also claim to be in the process of offering a social trading platform in the coming days. Lack of essential security features makes their platform unstable and a security risk. Without DDoS and SSL encryption, hackers can easily take over and steal vital information.
When it comes to safety of funds, victims can testify that deposits are far from being secured. With complaints coming from all corners of Europe, this platform is surely ripping off investors. The problem is they are not compliant with set rules such as segregation of accounts. It turns out SL Markets is pooling funds from one account which is not recommended. When bankruptcy and insolvency set in, no member will be compensated. It is best to stay away from such a disastrous platform.
Evidence is clear; we are dealing with a sleazy scam platform stealing from online investors. A warning is issued to all online investors; SL Markets is a scam which must be exposed by all parties. Mark all their emails as spam and never click on any links sent by their email marketing team. Whatever you do, ensure you stay away from any of their affiliate programs. Dealing with their products is an offense as it makes you a co-conspirator.
We have to protect our readers by adding this platform to our scam blacklist.
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Wishing all investors a happy and prosperous trading experience.