SepaFX Review – Who Is Behind SepaFX Brokers?
Providing a SepaFX review in as much detail as possible has been largely hindered by none other than SepaFX. This is all too common with scam brokers, they do whatever they can to complicate things and hide information.
Sticking to what we do know about this scam brokerage, they require a large minimum deposit of $250. They provide a very limited maximum leverage of 1:10 and are not regulated or licensed anywhere.
All these are very good reasons to stay far far away from this broker.
Additionally, you should avoid doing business with dishonest brokers such as DaxGlobe, GreenLinePro and EuropeFX.
Regulatory and Fund Security at SepaFX
Investing with SepaFX is highly dangerous, this is largely due to the fact that this broker is not regulated at all and has managed to get a warning put out against them by Finansinspektionen (FI) the Swedish financial conduct authority.
Using an unlicensed brokerage is dangerous as there is no support for the claims that they make. Licensed brokers are bound to uphold and comply with the rules set out by the regulatory body that has oversight over them.
These rules are put in place to serve the best interest of investors and to maintain a degree of safety for the investors. With unlicensed brokers, nothing is guaranteed. This in essence means that they are free to run any scam they please.
Available Trading Platform at SepaFX
From what we could tell the SepaFX broker provides its own WebTrader that is a far cry from industry favorites like MetaTrader4-5.
It is often the case that scam brokers claim that they have a revolutionary web trader platform that provides all of the necessary tools. Whilst the reality is that they have a web trader that provides the minimum if it functions at all.
A far too common sight is an investment scam that has a web trader platform that has close to 0 functionality.
Methods of Deposit and Withdrawal at SepaFX
Like the majority of investment scams in recent years, SepaFX claims to accept a very diverse list of payment methods.
We have found that the majority of scam brokers make all these claims while steering clients to make a payment via untraceable cryptocurrencies.
All that said, the payment methods that SepaFX says it accepts are as follows:
- Visa and MasterCard
In terms of withdrawal, this broker does not stray from the well-treaded investment scam path of only allowing a withdrawal after an intentionally unreachable trading volume.
How The Scam Is Executed?
Modern-day investment scams follow a very similar “script”. Potential victims see an ad on social media that links to a website. On the website, victims are shown an offer that is “too good” to pass up, also known as a get-rich scheme in exchange for their contact information.
If the victim does not make an account and a deposit at this point, the scammers use the previously provided contact information to reach out with increasingly attractive offers.
Once a deposit is made the scammers make it nearly impossible if not flat out impossible for the victim to make a withdrawal.
Highly Recommended Forex Brokers
If you would like to start making investments we would recommend that you do so with one of the trusted and regulated brokers that we have reviewed in the past. Using a licensed broker is just as important to your success as a trader as the trades that you make.
Here’s a brief overview of the recommended, Tier1 licensed brokers. Feel free to take a look.
|FXTM Broker||Cyprus, UK, Kenya, and Mauritius||4.5||10$ USD||Forextime.Com|
|OctaFX Broker||SVG and Cyprus||4.4||100$ USD||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus, and SVG||4.7||100$ AUD||FpMarkets.Com|
|XM Broker||Belize, Australia, and Cyprus||4.7||5$ USD||Xm.Com|
|HFM HF Markets Broker||SVG, Cyprus, and South Africa||4.3||5$ USD||Hfm.Com|
|FBS Broker||Belize, Australia, and Cyprus||4.85||1$ USD||Fbs.Com|
Overall, it is painfully clear that this brokerage is as far from legitimate as a broker can be.
Some of the most concerning things that traders can immediately pick up on are the facts that SepaFX is not regulated and that the brokerage has a warning out against them by the Swedish financial authority.
This alone should send investors running from this broker as fast and as far as possible.
Other issues that raise concern are the fact that the broker requires a large minimum deposit of $250 and has a system in place that stops clients from making a withdrawal unless they reach an undisclosed but absurd minimum trade volume.
Traders should be aware that this broker does not abide by any of the regulations that are put in place by tier one regulatory agencies that are meant to protect investors from predatory investment scams like this one.
FAQs About SepaFX Broker
Is There A Minimum Withdrawal Amount at SepaFX?
SepaFX makes a withdrawal nearly impossible via its incredibly high minimum trade volume requirements.
What Is The SepaFX Minimum Deposit Amount?
This broker has chosen to put a fairly high minimum deposit of $250.
Do I have To Deposit Money for Registration?
Generally, scam brokers will require their potential victims to make a deposit to complete registration. This is true for this broker as well.