Review: Safety Protocols and Data Security Evaluation.

An Asia-based company without any proven regulator or license that operates since June 2021. Before making any conclusions based on the information given to you, you should take an in-depth look. Most companies, such as SGP-Limited, are leaving on their web pages information that might look legitimate, but some don’t even exist, not at least under the same name. After doing short research, Hongding finance, which they are part of, doesn’t even exist. 

Let’s start our SGP-Limited review and see what else is fake here.

SGP-Limited Regulations and Security 

There’s no given information about the regulatory body on the company website, nor any licensing number. Therefore you can already make up your first conclusion, but let’s check other things as well. Every company claims that money with them is safe and risk-free, but you should understand that with significant leverages comes considerable risk. Hat down, but they announced on their website that you might lose all of your funds. That is most probably the only true thing. 

They have also written a so-called “disclaimer,” but actually, that’s all grey zone without any facts covering up that story. 

We would advise you to always do business with companies that are licensed by FCA, CySEC, or ASIC financial regulators. 

Fund Withdrawal Issues

As far as we could see, there is no valid information regarding withdrawals, but from our previous experiences through years of research and discovery, we find that 99% of the time, your funds will be at risk with these kinds of companies. 

According to LGP-Limited reviews, withdrawal is a mission impossible, so don’t hold your breath waiting.

The only available information is that it takes 2-5 business days to get a withdrawal. 

Beware of LGP-Limited scams and other brokers such as PKG Global, BankDeFX, WinBitx, and FinoMarkets!

Traders Opinion

A possible positive thing about this company could be that they are using the MT5 platform for PC and mobile devices. But it’s reported that SGP-Limited doesn’t actually have access to the MT5 platform, but it uses the credentials of two different companies. One of them is East Century Group Ltd, and the other one is Select Global Partners Ltd. 

Therefore, traders are unsatisfied with the platform, withdrawals, and general support offered by LGP-Limited broker.

How Does Online Trading Scam Work?

Unfortunately, we’ve all been in a position to see those catchy ads where a homeless guy changes his life in a matter of days, almost for free. Please don’t fall for it! But that’s how it starts; you see some ad where you can change your life entirely with ONLY $250. 

After you leave your contact information to sign up, that’s where a nightmare happens. After you receive the first call from the agent who will serve you every information you want to hear, you will deposit your first money. After that, new opportunities will just line up, and suddenly, you will find yourself in a position where you don’t have any money in cash, but everything is on your trading account. 

If you try to withdraw the funds, you may be persuaded to try one last time for a big hit, big bang, but actually, what happens is that you will most probably see a considerable loss that swiped out your whole account, and you can’t do anything about it. 

Scammed by SGP-Limited?

After being a victim of a scam, the first thing is contacting your bank and reporting it to the authorities. Most probably from authorities, you won’t get any proper help, but at least you can help other people not to be in a position where you are. Yet, you should definitely file a dispute and request a chargeback.

 But what is a chargeback?

Chargeback is the banking request of a cardholder to cancel or reverse the specific transaction. After providing the bank with all documentation needed, which can be an exhausting procedure, your bank can rule in your or company’s favor. For assistance in such a matter, contact our support via online chat. Book your free consultation and start the refund process immediately!