SinaraCorp Review – Another Trading SCAM
We researched SinaraCorp broker, and things are not looking good for them. The world of trading is full of possibilities, but you should be careful because it is also full of opportunities for scammers. Many people have fallen into their traps.
Don’t become a victim of fraud. Read this detailed SinaraCorp review and learn how to avoid scammers.
|Broker status:||Unlicensed Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||FMA, CNMV, CMVM, FSMA|
|Owned by:||High Net Group Ltd|
|Headquarters Country:||Germany / Marshall Islands|
|Minimum Deposit:||250 EUR|
|Types of Assets:||Forex, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
Is SinaraCorp a Broker With a Good Reputation?
SinaraCorp is an unregulated CFD broker that claims to be based in Germany. The website is easy to navigate through, but it is not very informative about the corporation.
The brand is owned by High Net Group Ltd from the Marshall Islands, which we uncovered from the Austrian regulatory warning. The broker does not have any legit Forex licenses.
Is an Unlicensed Broker Safe?
No. Here are a few insights: Regulated brokers must keep their own money segregated from their client’s money, which ensures that the company must use their funds for personal expenses. There is negative balance protection, as well as guaranteed funds. These measurements protect the client, something you will never get with a scam broker such as SinaraCorp.
Is SinaraCorp a Legit Broker or a Scam?
SinaraSorp is an unlicensed broker, allegedly based in Germany. The company was publicly exposed as a scam in Austria, Spain, Portugal, and Belgium.
Financial Regulators Issue Warnings to SinaraCorp
SinaraCorp was publicly exposed as a scam by the Austrian regulator, FMA.
Afterward, this same warning was republished in Spain, Portugal, and Belgium. All the regulators have stated the same – Stay away from SinaraCorp trading scam for your own good.
SinaraCorp Broker – Countries Of Service
The company is mainly focusing on scamming people from:
Also, remember the names of the trading frauds MarketsOcta, MetaversesWorld, and UnicoFX trading scams and avoid them at all costs! Furthermore, before investing, always check the background of internet trading organizations!
SinaraCorp CFD Trading Platform
Let’s see what the company has to say about the trading platform.
It is web-based, and it is available for phones and desktop devices. We’ve tried the option of exploring the platform, but to do that, we would have to open an account with the broker.
Since SinaraCorp does not allow a Demo account, we did not go for it. One thing is for sure, they are not using the industry’s standard MT4 and MT5 platforms.
All About SinaraCorp Accounts
There are six types of accounts.
- Start – 250 EUR
- Bronze – 5,000 EUR
- Silver – 10,000 EUR
- Gold – 20,000 EUR
- Platinum – 50,000 EUR
- Exclusive – 100,000 EUR
Bonuses vary from an unspecified welcoming bonus up to 100%. Trading in all assets is not available with the Start and Bronze packages. The leverage ratio goes from 1:200 to 1:500, which is insane because licensed companies cannot offer leverage higher than 1:50.
SinaraCorp Range of Trading Instruments & Markets
SinaraCorp customers can trade in all major markets, including:
- Currency pairs – EUR/USD, GBP/USD
- Commodities – gold, oil, silver
- Indices – Dow Jones, NASDAQ
- Shares – Amazon, Apple, Google
- Cryptocurrencies – BTC, ETH, XRP
SinaraCorp Deposit, Withdrawal Methods, And Fees
SinaraCorp has a very suspicious statement regarding withdrawals: “Please clearly note that we are not committed to any time frame.” Meaning they can process withdrawal requests in a year or two or never. Yes, it is outrageous.
What Payment Methods Does The Broker Accept?
There’s no list of payment methods. This is another red flag on the long list of red flags, along with missing deposit and withdrawal fees.
SinaraCorp Bonuses – A Fraudulent Method
SinaraCorp offers a very lucrative trading bonus scheme. Upon receiving it, you will need to reach a specific minimum trading volume before you can make any attempt for withdrawal.
Here are two important notes from SinaraCorp’s bonus policy:
“To withdraw funds from an account that has been credited with a trading bonus, the trader will be required to execute a minimum trading volume of (bonus amount + Deposit) x25”.
“The terms and conditions associated with any bonus rewards are subject to change from time to time.”
They can change policies that can affect minimum trading volume whenever they want, which will be used against your funds.
Scammed by a SinaraCorp Broker? – Let Us Hear Your Story
If the SinaraCorp broker scammed you, there is a way to go fight back. Contact our chargeback specialists right away and let’s find a way to recover your funds promptly.
But What Is A Chargeback?
A chargeback is a procedure your bank handles to recover stolen funds directly from the merchant. Contact us via online chat and let’s start the process before it’s too late.
What Is SinaraCorp?
SinaraCorp is an unregulated broker allegedly established in Germany.
Is SinaraCorp a Scam Broker?
Yes, SinaraCorp is not licensed by any regulatory body. On top of that, it has been exposed as a scam by the FMA.
Is SinaraCorp Available in the United States or UK?
The broker is available in the UK but doesn’t provide services to US residents.
Does SinaraCorp Offer a Demo Account?
No, the SinaraCorp company is not offering a Demo account.