Do you want to trade with Sbtradetek FX? Is Sbtradetek.com another scam broker? See complete Sbtradetek review to know about this platform whether to trade here.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Sbtradetek FX?
Sbtradetek located at Sbtradetek.com is an offshore brokerage company with a lot of promises for forex traders. The company is completely anonymous as there is no corporate address or phone number that can prove its credibility.
The broker offers account packages such as —-
In addition, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. More so, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
Sbtradetek Minimum Deposit:
Sbtradetek deposit is indicated $1,000 based on the account type. In contrast, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
Searching the broker funding methods, the platform claims credit card transactions and bank transfers. However, deposit menu the choice is only between the cryptocurrencies Bitcoin and Tether.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Withdrawal process:
Sbtradetek withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Sbtradetek Platform:
Sbtradetek platform offers a simple but fraudster trading platform. However, that cannot be compared to the advanced trading platforms of MT4/MT5. Many scammers have trading software to fool their victims that their money is being invested.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
As for Sbtradetek leverage, it can get up to 1:100. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Things You Should Know about Sbtradetek.com Regulation
First of, we have not found any evidence that there is a connection between this offshore company and Sbtradetek. The Terms of Use, which are only available through the account registration form, do not specify a company name or applicable jurisdiction.
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences.
Sbtradetek Regulation and Licensing
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Concluding Thoughts:
Sbtradetek FX located at Sbtradetek.com disguising to be a trustworthy trading company, however, that cannot be ascertained. By all appearances, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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