Note: SFXs official site - https://www.sfx-markets.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information SFX Review Summary Founded 2011 Registered Country/Region Vanuatu Regulation VFSC (Revoked) Market Instruments Forex, commodities, stock and indices, and cryptocurrencies Demo Account Unavailable Leverage 1:500 EUR/ USD Spreads 2 pips (CLASSIC account) Trading Platforms MT4 Minimum Deposit $100 Customer Support 24/5 phone, email What is SFX？ SFX, founded in 2011 and registered in Vanuatu, was previously regulated by the Vanuatu Financial Services Commission (VFSC). However, its regulatory status is currently revoked, with no valid government or financial authority oversighting its operations. Moreover, the official website of SFX is inaccessible, suggesting possible abscondment of the trading platform. These factors pose risks when considering investing with SFX. Despite its regulatory status concerns, it's worth mentioning that SFX offers a diverse range of trading instruments across various asset classes. They also provide multiple live account types, allowing traders to choose according to their specific needs and preferences. In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance. Pros & Cons Pros Cons • Account variety • Website is unavailable • MT4 supported • VFSC (Revoked) • Phone and email support available • No demo accounts SFX Alternative Brokers There are many alternative brokers to SFX depending on the specific needs and preferences of the trader. Some popular options include: Eightcap - A trusted forex and CFD broker that provides traders with competitive spreads, fast trade execution, and a comprehensive suite of trading tools and resources. Trading 212 – A popular online brokerage platform that offers commission-free trading for a wide range of financial instruments, including stocks, ETFs, forex, and cryptocurrencies. Valutrades- It provides competitive spreads, reliable trade execution, and a range of trading platforms, making it a solid choice for traders looking for a reliable brokerage. Is SFX Safe or Scam？ The official regulatory status of Vanuatu VFSC (license number: Unreleased) is revoked. Therefore, SFX currently has no valid regulation, which means that there is no government or financial authority oversighting their operations. Besides, the official website of SFX is inaccessible, indicating that the trading platform may have absconded. These make investing with them risky. If you are considering investing with SFX, it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated brokers to ensure your funds are protected. Market Instruments SFX offers a variety of trading instruments across different asset classes, including forex, commodities, stock and indices, and cryptocurrencies. Forex: SFX provides access to the foreign exchange market, allowing traders to trade major, minor, and exotic currency pairs. Forex trading involves speculating on the price movements of currency pairs. Commodities: SFX offers various commodities for trading, including gold, silver, crude oil, natural gas, agricultural products, and more. Commodities trading allows investors to speculate on the price fluctuations of these physical goods. Stocks and Indices: SFX allows traders to invest in individual stocks of publicly listed companies. Additionally, they provide access to various stock indices, such as the S&P 500, FTSE 100, and Nikkei 225. Trading stocks and indices involves speculating on the performance of underlying companies or market indices. Cryptocurrencies: SFX enables traders to trade popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, and others. Cryptocurrency trading involves speculating on the price movements of digital currencies. Accounts SFX offers multiple live account types to cater to the different needs and preferences of traders. Here are the account types they offer along with their corresponding minimum deposit requirements: CENT Account: This account type has a minimum deposit requirement of $100. It is designed for beginners or traders who want to start with smaller amounts. The account operates in cents, allowing traders to trade with smaller position sizes and manage their risk more effectively. CLASSIC Account: The CLASSIC account requires a minimum deposit of $500. It offers standard trading conditions and is suitable for traders with moderate experience in the market. It provides access to various trading instruments and features offered by SFX. CENT NDD Account: With a minimum deposit requirement of $5,000, the CENT NDD account offers no dealing desk (NDD) execution. It provides direct market access and tight spreads, allowing traders to experience faster and potentially more transparent order execution. CLASSIC NDD Account: The CLASSIC NDD account requires a minimum deposit of $10,000. It offers NDD execution and is designed for experienced traders who seek lower spreads and faster execution. This account type is suitable for those who have a higher volume of trades. PRO STP Account: The PRO STP account is the highest-tier account offered by SFX, with a minimum deposit requirement of $50,000. It provides access to institutional-grade liquidity and competitive pricing. This account type is tailored for professional and high-volume traders who require advanced trading conditions. Leverage SFX offers a maximum leverage of 1:500 to its traders. Leverage is a tool that allows traders to control larger positions in the market with a smaller amount of capital. It essentially magnifies the potential profits and losses of a trade. With a leverage of 1:500, traders can trade with a position size up to 500 times the amount of their capital. For example, if a trader has $1,000 in their trading account, they can potentially control a position size of $500,000. This means that even with a relatively small amount of capital, traders can access larger markets and potentially amplify their trading opportunities. While leverage can enhance profits, it's crucial to understand that it also amplifies losses. The higher the leverage, the higher the risk involved. Traders should exercise caution and carefully manage their risk when using leverage. It's important to have a clear understanding of how leverage works and to use risk management strategies to protect their trading capital. Spreads & Commissions SFX offers different spreads for its various account types. The spread is the difference between the buy and sell price of a trading instrument, and it represents a cost that traders incur when executing trades. Typically, lower spreads are desirable as they can potentially result in lower trading costs. For the CENT account, CLASSIC account, and CENT NDD account, SFX offers spreads starting from 2 pips. This means that traders using these account types can expect spreads as low as 2 pips on certain trading instruments. While these spreads are relatively higher compared to some other account types, they are still competitive and can be suitable for traders who prioritize accessibility and ease of trading. The CLASSIC NDD account offers spreads starting from 1.5 pips. This account type provides traders with access to lower spreads compared to the previous account types mentioned. The 1.5 pips spread allows for potentially tighter pricing, which can be advantageous to traders who engage in more frequent trading or aim to capitalize on smaller market movements. For the PRO STP account, SFX offers spreads starting from 1 pip. This account type provides traders with the opportunity to access the lowest spreads offered by SFX. The 1-pip spread gives traders potentially tighter pricing and can be particularly attractive to professional traders and those seeking the most competitive trading conditions. Besides, due to the unavailable website, there is no access to find out the commission of SFX. Below is a comparison table about spreads and commissions charged by different brokers: Broker EUR/USD Spread Commission SFX 2 pips (the CLASSIC account) N/A Eightcap 0.0 pips $ 3.5 per lot Trading 212 0.6 pips None Valutrades 0.0 pips None Note: The information presented in this table may be subject to change and it is always recommended to check with the broker's official website for the latest information on spreads and commissions. Trading Platforms SFX provides the popular and widely used trading platform MetaTrader 4 (MT4) to its clients. MT4 is a powerful and versatile platform that offers a range of features and tools to enhance the trading experience. MT4 is known for its user-friendly interface, making it suitable for both beginner and advanced traders. It offers a comprehensive set of trading tools, including advanced charting capabilities, multiple timeframes, and customizable indicators. Traders can analyze market trends, identify trading opportunities, and make informed trading decisions using the extensive technical analysis tools available on the platform. One of the key advantages of MT4 is its automated trading functionality. Traders can use expert advisors (EAs) to create and implement automated trading strategies. EAs are built-in or third-party software programs that can execute trades on behalf of traders based on pre-determined rules and conditions. This feature allows traders to automate their trading and take advantage of market opportunities without having to manually monitor the markets at all times. See the trading platform comparison table below: Broker Trading Platform SFX MT4 Eightcap MT4, MT5 Trading 212 Proprietary platform and a Web-based Version Valutrades MT4, MT5 Deposits & Withdrawals SFX provides its clients with a range of deposit and withdrawal methods to ensure convenience and flexibility. Here's a brief overview of the available options: Wire Transfer: SFX accepts deposits and withdrawals through wire transfer, which allows clients to transfer funds directly from their bank accounts to their trading accounts. Wire transfer is a widely used and secure method, but it may involve longer processing times compared to other methods. Visa/MasterCard Cards: Clients can use their Visa or MasterCard debit or credit cards to make deposits and withdrawals. This method offers a convenient way to fund or withdraw from trading accounts, and transactions can be processed quickly. It's important to note that withdrawal options might be subject to the card issuer's policies. Neteller: SFX also accepts deposits and withdrawals via Neteller, an online payment system that allows users to transfer funds to and from their trading accounts. Neteller offers secure and fast transactions, making it a popular choice for online payments, including forex trading. SFX Debit Cards: SFX provides its clients with dedicated debit cards that can be used for both deposits and withdrawals. These cards are linked to clients' trading accounts, allowing them to access their funds easily. The SFX debit card option offers convenience and immediate access to funds, making it a popular choice among traders. SFX minimum deposit vs other brokers SFX Most other Minimum Deposit $100 $100 User Exposure on WikiFX On our website, you can see that reports of unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you. Customer Service Customers can visit their office or get in touch with customer service line using the information provided below: Telephone: 442032908858 86 21 6101 0547 Email: info@sfx-markets.com asia@sfx-markets.com Conclusion In conclusion, SFX is a trading platform that offers a range of services to its clients. The platform provides access to various financial markets, allowing traders to diversify their portfolios and capitalize on different trading opportunities. With its user-friendly interface and advanced charting tools, SFX's trading platform, MT4, caters to the needs of both beginner and advanced traders. However, SFX has many problems. First, it doesn‘t have regulation. Second, it is because the official website of SFX is inaccessible that the relevant information doesn’t be provided, which makes trade not transparent enough. Therefore, traders should verify the regulatory status of SFX or any broker they choose to work with to ensure compliance with industry standards and regulatory requirements. Frequently Asked Questions (FAQs) Q 1: Is SFX regulated？ A 1: No. It has been verified that this broker currently has no valid regulation. Q 2: How can I contact the customer support team at SFX？ A 2: You can contact via telephone, 442032908858 and 86 21 6101 0547 and email, info@sfx-markets.com and asia@sfx-markets.com. Q 3: Does SFX offer demo accounts？ A 3: No. Q 4: Does SFX offer the industry leading MT4 & MT5？ A 4: Yes. It supports MT4. Q 5: What is the minimum deposit for SFX？ A 5: The minimum initial deposit to open an account is $100. Q 6: Is SFX a good broker for beginners？ A 6: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website.