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SET-FX foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://dolar.set-icap.com/auth/registro/, about the company's legal and temporary regulatory information, the company's address .

SET-FX Forex Broker

Basic Information

Registered Region

Spain

Operating Period

Company Name

SET ICAP FX SA

Abbreviation

SET-FX

Company employee

Customer Service Email Address

info@set-icap.co

Contact Number

+16017427777

Company Website

http://www.set-fx.com

Keywords

5-10 years

Suspicious Regulatory License

High potential risk

Company profile

Aspect Information Company Name SET-FX Registered Country/Area Spain Founded year 5-10 years Regulation Unregulated Market Instruments Forex and securities Account Types N/A Minimum Deposit N/A Maximum Leverage N/A Spreads N/A Trading Platforms Not provided Customer Support Telephone: +57 (601) 742 77 77, email: info@set-icap.co and comercial@set-icap.co, online messaging, social networks Overview of SET-FX SET-FX, operating in Spain for 5-10 years, offers forex and securities trading. However, its unregulated status raises red flags, leaving traders vulnerable to potential fraud and lack of oversight. Despite providing multiple trading systems, including SET-FX, ICAPCO, and IHS, the broker's inaccessible official website poses significant hurdles for traders seeking essential information and market updates. With no regulatory authority overseeing its operations, SET-FX fails to instill confidence in traders, urging caution and thorough research before considering engagement. Regulatory Status SET-FX operates without regulatory oversight. This absence of supervision means that there are no established rules or guidelines governing its activities. Consequently, there's a lack of assurance regarding the fairness and security of transactions. Investors face increased risks of fraud, manipulation, and loss of funds. Pros and Cons Pros Cons Offers forex and securities Official website inaccessible Unregulated Pros: Various Financial Offerings: SET-FX provides access to both forex and securities markets. This versatility allows traders to diversify their portfolios, spreading risk across different asset classes. Cons: Official Website Inaccessibility: One significant drawback of SET-FX is the inaccessibility of its official website. Lack of Regulatory Oversight: As an unregulated entity, SET-FX operates without oversight from any financial authority. This absence of regulation exposes traders to various risks, including fraudulent activities, market manipulation, and inadequate investor protection. Market Instruments SET-FX offers financial services in forex and securities. Also, it offers three different systems - Electronic Foreign Exchange Market Information and Transaction System (SET-FX), ICAPCO Foreign Exchange Trading and Registration System and the Icap Hybrid System (IHS). Customer Support SET-FX s customer support can be reached by telephone: +57 (601) 742 77 77, email: info@set-icap.co and comercial@set-icap.co or send messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook and LinkedIn. Headquarters: Cra. 11 No. 93 - 46 Office 403. Risk Warning Caution is advised when considering SET-FX for trading activities. The broker lacks valid regulation, exposing traders to potential risks such as fraud and insufficient investor protection. Additionally, the absence of trading software poses challenges for executing trades efficiently and accessing essential market data. Conclusion SET-FX, though providing access to forex and securities trading, is plagued by significant drawbacks. Its unregulated status leaves traders exposed to potential fraud and manipulation, lacking the protection and oversight afforded by regulated brokers. Moreover, the platform's inaccessible official website frustrates users, impeding access to crucial market information and transparency. Additionally, the absence of detailed account specifications and financial requirements exacerbates the platform's lack of clarity, fostering uncertainty among potential clients. FAQs Question: What financial instruments does SET-FX offer？ Answer: SET-FX provides trading opportunities in forex and securities markets. Question: Is SET-FX regulated by any financial authority？ Answer: No, SET-FX operates without regulatory oversight. Question: How can I contact SET-FX for customer support？ Answer: You can reach SET-FX customer support via telephone, email, or online messaging, as well as through social networks like Twitter, Facebook, and LinkedIn.

SET-FX broker review

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Rating Index

Set FX Broker - Comprehensive Information Guide

1. Broker Overview

　　Set FX, officially known as Set ICAP FX SA, is a financial services company that has been operating for approximately 5 to 10 years. The firm is registered in Spain and primarily serves clients interested in trading in the forex and securities markets. As a private entity, Set FX has built its reputation in a competitive landscape, aiming to provide diverse trading options for retail and institutional clients alike.

　　The company has undergone various phases of development, adapting to market demands and technological advancements. Despite its relatively short history, Set FX has established itself as a player in the forex market, offering a range of trading solutions. However, the company's unregulated status raises concerns about its operational transparency and the safety of client funds.

　　Set FX operates under a business model that focuses on retail forex trading, providing clients with access to various financial instruments. The firms services are designed to cater to both novice traders and experienced investors, allowing for a broad customer base.

2. Regulatory and Compliance Information

　　Set FX operates without any valid regulatory oversight, which is a significant red flag for potential clients. The broker has been assigned a low regulatory score of 1.42 out of 10 by various financial watchdogs, indicating a lack of compliance with necessary regulatory standards.

　　Currently, there are no known regulatory bodies overseeing Set FX, which means that it lacks the necessary licenses to operate legally in many jurisdictions. This absence of regulation exposes traders to potential risks such as fraud, market manipulation, and inadequate investor protection. The company does not participate in any investor compensation schemes, which further undermines client security.

　　Set FX has no documented policies regarding the segregation of client funds, which is a critical aspect of financial security. Without a clear KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance framework, clients may face increased risks when engaging with this broker.

3. Trading Products and Services

　　Set FX offers a variety of trading products primarily focused on the forex and securities markets. The broker provides access to multiple currency pairs, although specific details regarding the number of forex pairs available have not been disclosed.

　　In addition to forex trading, Set FX extends its services to include CFDs (Contracts for Difference) on various asset classes such as indices, commodities, stocks, and cryptocurrencies. The firm claims to update its product offerings regularly, although the frequency of these updates remains unspecified.

　　Set FX aims to cater to both retail traders and institutional clients, providing a range of trading solutions that include white-label services and potentially asset management services. However, further details on these offerings are limited and not explicitly outlined in available resources.

4. Trading Platforms and Technology

　　Set FX provides trading solutions primarily through MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are widely recognized in the industry for their user-friendly interfaces and robust functionality. The broker supports both desktop and mobile applications, allowing traders to access their accounts via iOS and Android devices.

　　The execution model employed by Set FX is not clearly defined in available resources, raising questions about whether it operates on an ECN, STP, or market-making basis. The company's server infrastructure is reportedly located in the United States, although specific details regarding server performance and reliability have not been disclosed.

　　Set FX does not provide detailed information regarding API access or automated trading support, which are critical features for advanced traders looking to implement algorithmic trading strategies.

5. Account Types and Trading Conditions

　　While specific account types offered by Set FX are not thoroughly documented, it is known that the broker requires a minimum deposit to open a trading account. The exact minimum deposit amount, spreads, and commission structures have not been disclosed.

　　Traders may find various account categories including standard, VIP, and potentially Islamic accounts, although detailed specifications for these accounts are lacking. The leverage ratios offered by Set FX are also unspecified, which is a crucial factor for traders when considering risk management strategies.

　　Information regarding the minimum trade sizes and overnight fees is not readily available, creating uncertainty for potential clients looking to understand the trading conditions before engaging with the broker.

6. Fund Management

　　Set FX supports various deposit methods, including bank transfers, credit cards, and electronic wallets, although specific details regarding these methods are not extensively documented. The brokers minimum deposit requirements vary by account type, but exact figures are not provided.

　　Deposit processing times and any associated fees have not been specified, which may deter potential clients who prioritize transparency in financial transactions. Withdrawal methods and restrictions are also unclear, with limited information on processing times and fee structures for withdrawals.

7. Customer Support and Educational Resources

　　Set FX offers customer support through multiple channels, including telephone, email, and online messaging. The support team can be reached at +57 (601) 742 77 77 or via email at info@set-icap.co. However, the availability of support services and their hours of operation remain unspecified.

　　The broker claims to provide multilingual support, although the specific languages offered have not been detailed. Educational resources appear to be limited, with no clear offerings of webinars, tutorials, or e-books to assist traders in improving their skills.

　　Market analysis services, including daily updates and research reports, are not explicitly mentioned, indicating a potential gap in support for clients seeking insights into market movements.

8. Regional Coverage and Restrictions

　　Set FX primarily serves clients in Spain and potentially other regions, although specific details regarding its operational reach are not well-defined. The company does not provide information on regional offices outside its headquarters, which may limit accessibility for clients in different time zones.

　　Certain countries may be restricted from accessing Set FXs services, although the specific jurisdictions where client acceptance is limited have not been disclosed. Clients are advised to conduct thorough research regarding regional regulations before engaging with the broker.

　　In conclusion, while Set FX offers a range of trading products and services, potential clients should exercise caution due to the broker's unregulated status and lack of transparency. Engaging with Set FX may expose traders to significant risks, and thorough due diligence is recommended before proceeding with any financial commitments.

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