Seventy Brokers Review – All The Shady Facts in One Place
Seventy Brokers is quite a confusing broker. The company listed numerous entities on the website, yet it’s unclear which one is the main one. There are many discrepancies about their business that we are about to discover in this Seventy Brokers Review.
In general, if the broker claims to be licensed that is not necessarily true. Therefore, we encourage our readers to check everything before they invest any money. To potentially find more suitable options check our Interactive review.
Some general words about Seventy Brokers
The Seventy Investech Group is established in 2015. At least according to the broker. We will discover in a moment why we question that. However, the Seventy Brokers trading company is established in 2021.
Generally speaking, their main address should be in Singapore. Even though they don’t mention Singapore regulations. But let’s dig out all the dirt.
| Broker name | Reliable Broker Must Have | |
| Legal name: | Seventy Investech (Vanuatu) Co., Limited | Transparently displayed in the disclaimer or legal documents |
| Regulation: | Unregulated / Offshore broker | Within your legal jurisdiction – local regulator |
| Registered in: | Vanuatu | Your country or the country whose license applies in your legal jurisdiction |
| Established: | 2021 | The older the domain – the higher the possibility the company is trustworthy |
| Website: | Seventybrokers.com | Domain should be from local or international zones, no .xyz etc. |
| Financial Authorities Warnings: | N/A | None |
| Contacts: | Web form and live chatbot | Phone, email, social media, web form |
| If a withdrawal is possible: | Highly unlikely | Yes |
| Fees: | Hidden fees | Transparent fees – list of spread and commissions |
| If Active on Social Media: | Yes – Facebook, Twitter, Youtube, Instagram, WhatsApp, Telegram, Timeline | Often present on social media |
| Investor Protection: | No | Compensation fund |
Regulation info
In the first place, the broker mentions ASIC regulations. Indeed, the company they mention is in the AFSL register. Yet, the address of the company doesn’t match. In fact, Seventy Brokers might be just another clone firm. After this, even their VFSC license becomes questionable because it doesn’t reveal any connection to Seventy Brokers.
Also, the VFSC license of the company is obtained in 2016. Yet, the brokerage exists since 2021. Not to mention that the company doesn’t have any other Tier 1 licenses like FCA, BaFin or CFTC. Neither do they have MAS (Singapore) license.
Seventy Brokers Profile
If we exclude regulatory issues, we can find many other irregularities. Even though they offer trusted MT5 trading software we can’t deny the fact that the broker is misleading about regulations.
Another key warning sign is the leverage of 1:500. In fact, if the broker is licensed in Australia or US, the maximum leverage would be 1:50.
| Trading platforms: | MT5 |
| Account types: | Integrated, Lite, Integrated (BTC), ECN, Institution, Real Asset |
| Financial Instruments On Offer: |
|
| Maximum leverage: | 1:500 |
| Minimum Deposit: | $1 |
| Commissions/bonuses: | Forex, Commodity, and Indices: $5/lot 4
Stocks CFD: $0.079 Crypto: 0.089%
No bonuses available |
| Mobile app: | Yes |
| Desktop app: | Yes |
| Autotrading: | Not available |
| Demo account: | Available |
| Education or Extra tools: | Unique indicators |
Is This Broker Safe?
Generally speaking, no. There are many irregularities with the broker mainly related to the ownership and regulations. On top of all, the company doesn’t offer any direct contact option. All of the options are online tickets and live chatbot.
Practically, if you need any assistance you can only hope for it. Finally, the company has already many negative reviews.
Traders Review – Sharing Experiences
Speaking of reviews, you can check the ones on Trustpilot. 6 out of 6 are with the worst rating possible. The main reason behind it is mostly the withdrawal issues.
Nevertheless, ASIC or NFA regulated broker would have much better comments. In case you had any difficulties with the broker, feel free to contact our team and find more suitable and secure brokers.
How Seventy Brokers Platform Reach Clients and Who Are They?
The company mostly attracts traders with lucrative investment opportunities. If something is happening on the market they can also put urgency on you to deposit money and make quick returns. But they’ll keep finding ways to extort more money.
Whether through the margin calls, other opportunities or non-existent fees. Since this broker doesn’t reveal any. In this case, the broker mainly targets traders from:
- Malaysia
- Thailand
- Singapore
- China
- Indonesia
Wherever you are coming from you can find a more trusted broker. Most importantly with fully transparent Tier 1 regulations and real protection. Get in touch with our expert team to find your best options.
Deposits and Withdrawal Methods
Even though the Seventy Brokers minimum deposit is quite low and starts at $1, don’t let that trick you. Have in mind that licensed brokers have transparent funding methods, processing time and fees. This broker doesn’t and we hope you can answer the question if is the Seventy Brokers legit.
With very shady Seventy Brokers regulation you can expect withdrawal issues. But also because of the missing withdrawal policy. Instead, you can check CySEC-regulated broker and find the difference in our Orbex review.
Reasons To Avoid This Company
Primarily, the company should be avoided because they are misleading traders about regulations. On top of that, they offer extremely high leverage without negative balance protection. Also, there are many negative reviews about the company. Not to mention that the company doesn’t have transparent deposit and withdrawal policies.
Our Safe Trading experts’ opinion of Seventy Brokers
Generally speaking, there are many things that should keep you away from this broker. Instead, you can find more transparent ones with precise information and higher security. In case you don’t know where to start looking you can book a consultation with our team.
Our goal is to help traders understand what safety in trading means and diversify good from bad brokers. Don’t hesitate to contact us. The first consultation is free of charge!
FAQ Section
What Is Seventy Brokers Regulation?
Most likely none. Because none of the statements from Seventy Brokers match with the data in regulatory registers.
What Are Seventy Brokers Trading Platforms?
The company offers a highly trusted MT5 platform, but you shouldn’t be tricked by that.
What Are Seventy Brokers Deposit and Withdrawal Methods and Fees?
The company doesn’t share any funding information or fees. Another sign is that they are not regulated. Contact us today to find a suitable broker to be by your side!
