SC Markets Review – The Site Is An Endless Pit Of Fabrications
SC Markets is a SVG-based brokerage of unknown company details. Although allegedly legally incorporated in SVG, SC Markets LLC virtually doesn’t exist. What’s worse, what they call their partner company is listed as “xxx Limited” on the website. What does that even mean?!
Moreover, the firm will have you believe their impeccable platform provides “unlimited leverage, low spreads and fast execution”. You know, everything swindlers of this type usually brag about.
This SC Markets review refers to the legal issues of this broker, as well as all the risks you’re exposed to if you decide to take a leap of faith and invest here.
|Regulated by:||Unregulated Offshore Broker|
|Is This Company Safe?||Unlicensed companies are anything but safe!|
|Have Warnings from:||N/A|
|Maximum Leverage:||Unlimited (claimed)|
|Deposit Bonus:||Not available|
|Trading Assets:||Forex, Commodities, Crypto, CFDs on Indices|
|Free Demo Account:||Not available|
|How to Withdraw from This Company?||Withdrawing funds from illicit companies is next to impossible without reaching out to recovery experts.|
Saint Vincent and the Grenadines is a well-known location in the Forex world. This tax haven has a local regulator – SVGFSA that doesn’t oversee the brokerage activities. In their register of entities, no company under the name of SC Markets LLC or registration number 307 appears.
Looking further into this matter, we also visited databases of FCA, CySEC, BaFin and CONSOB, only to get the same search results.
The trading conditions offered at scmarkets.com suggest no legal framework in force anyway. Leverage isn’t limited to 1:30, no transparency comes when it’s about the costs, fees, company information and protection of funds is the lowest on their priorities list.
Don’t even get us started on the half-finished website parts like the footer that advertises a ghost partner named as “xxx Limited”, with a mysterious FSA license number “SDxxx”. We advise you to stay clear of this potential scammer. Another offshore entity to avoid is GSI Markets.
Where The Victims Come From
Attractive trading conditions are just some of the methods that well-trained sales agents use to spark interest in their potential targets. Using lies and emotional manipulation is another way to win the mind game and force their victim to invest.
Expecting quick gains from low investments and by relying on your account manager is a sure way to be robbed. At least that is what the victims from these areas report:
- United Kingdom
No matter the amount lost, there’s always a way to get it back, you just have to take the right steps. One certain way of regaining control of your funds is by contacting us for legal advice and support.
Fake VS Real Costs
Leverage advertised at SC markets is nothing short of insane. If your account equity is less than $1,000 the leverage you’re trading under is said to be “1:unlimited”! Otherwise, the highest leverage given is up to 1:2000, which is still completely absurd.
As for the spreads, EUR/USD starts at 1.1 pips, which is somewhat in range with the major brokerage powerhouses. That’s why we found it suspicious. Also, SC Markets claims to charge no commission upon trades, which also sounds unrealistic.
Misleading Trading Features
SC Markets has all the misinformation on their site working in their favor. Trading platform is supposed to be MT4, but the download button is broken. Groups of trading assets available are listed, but nothing confirms their presence. Lastly, signing up is a painful process that doesn’t seem to lead you anywhere. There’s absolutely not a single advantage to opening a SC Markets account.
Where is MT4?!
We’ve seen plenty of scam attempts that offer the premium trading platform – MetaTrader 4. SC Markets apparently belong in the same basket. Although a separate web presentation speaks about the pros of trading on this terminal, you can’t access it – the download button is unresponsive!
Some pathetic swindlers go as far as designing their own trading apps, like FCF Markets. These perform equally badly as an absent MT4.
There’s a number of financial products that SC Markets urges you to invest in. Although we will list them here, we have to make a disclaimer and say we could not verify if they’re truly available. The list goes as follows:
- Forex (EUR/USD, GBP/USD, USD/JPY)
- Commodities (Gold, Silver, Crude Oil)
- Crypto (Bitcoin, Bitcoin Cash, Etherium, Litecoin, Ripple)
- CFDs on Indices (Wall Street, FTSE100, Hong Kong HS50)
One Nameless Account
If you expected this broker to offer you a range of live account types, you’re in for an unpleasant surprise. The single available SC Markets account is a live trading account with no name. That automatically rules out the possibility for risk-free trading. The minimum amount to invest is $1, leverage is labeled as “1:infinity” and the trading commission is 0.
SC Markets Withdrawals
The broker will do anything to have you believe all transfers are instant, safe and hustle-free. But without a license and proper legal documentation to confirm that, we simply couldn’t trust the amateur SC Markets lies. Being unclear on these crucial aspects of business, this broker proves to be another common internet swindler.
There’s not a single way you could use to get in touch with SC Markets support. All contact info has been cleared from the website. New or existing users have absolutely no channel to reach out to customer service and ask for help resolving issues.
SC Markets Summary
Our SC Markets review has exposed one scam broker down to their last little lie. The disturbing details we’ve presented in the review should serve you as a little guide not to fall into investment traps.
If you’ve already been scammed, worry not. Book a free consultation with our recovery team and our legal experts will help you out of the problem. Don’t wait too long, though. The more time passes, the lower the chance for your friends to be located and restored.
Who Is SCMarkets?
SC Markets is supposedly a SVG-based brokerage company.
Is SCMarkets Safe?
Without apparent evidence of a license, we do not consider this broker to be safe. So contact us promptly if you need help restoring your funds from this common Forex thief.
How Much Are The Spreads And Rates At SCMarkets?
The starting spreads for EUR/USD are claimed to be 1.1 pips. Trading commission supposedly amounts to $0 for each trade, which we do not believe is true.