Sankore Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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I want to thank this company for providing me with access to this world of funds. I will certainly come back as soon as I sort out my primary mistakes back in the day. I promise that I will try once again and this time I will be successful as I work on gaining knowledge.
Sankore, a Nigerian-based forex broker, has garnered mixed reviews from users and experts alike. Established in 2016, it offers a range of services beyond traditional trading, including fund management and real estate. However, the lack of regulatory oversight raises concerns about its legitimacy and safety for traders. Notably, users have reported issues with transparency regarding trading operations and fees, making it a high-risk option, especially for beginners.
Note: It's crucial to understand that Sankore operates without regulation, which can significantly impact the safety of your investments. This review aims to present a balanced view, incorporating user experiences and expert opinions to provide an accurate assessment of Sankore.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup/Experience | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
We rated Sankore based on user feedback, expert analysis, and available data.
Sankore Investments, founded in 2016, operates from Lagos, Nigeria. It provides various services, including advisory, fund management, and real estate. The broker claims to utilize popular platforms like MT4 and MT5 for trading, although detailed information about account types and trading fees is limited. Importantly, Sankore lacks valid regulatory licenses, which poses a significant risk to potential investors.
Sankore operates primarily in Nigeria and does not have any regulatory oversight from recognized financial authorities. This absence of regulation is a critical red flag, as it leaves investors vulnerable to potential fraud or losses.
Details on supported currencies for deposits and withdrawals are sparse. However, users have noted that the broker does not specify the currencies available, which can lead to confusion.
The minimum deposit requirement is not clearly outlined in the available resources, which may deter potential clients who prefer transparency.
There is limited information about any bonuses or promotions that Sankore may offer. This lack of clarity could be a drawback for traders looking for additional incentives.
Sankore offers a selection of investment services, including fund management and real estate. However, it does not support trading in shares or metals, which limits the variety of instruments available to traders.
Specific details regarding spreads, fees, and commissions are not adequately disclosed. This lack of transparency can lead to unexpected costs for traders, making it essential for potential investors to inquire directly with the broker.
Information on leverage options is also limited, which is a concern for traders who rely on leverage to enhance their trading strategies.
Sankore reportedly utilizes MT4 and MT5 for trading, but there is little information on the features and functionalities of these platforms, which could affect the trading experience.
Sankore does not provide clear information on restricted regions, which could pose issues for potential clients in certain jurisdictions.
Customer service is reportedly available in English, but users have noted limited support hours, which can hinder timely assistance.
| Category | Score (out of 10) | Commentary |
|---|---|---|
| Account Conditions | 4 | Limited information on account types and fees. |
| Tools and Resources | 5 | Offers some educational resources but lacks depth. |
| Customer Service and Support | 3 | Restricted hours and limited contact options. |
| Trading Setup/Experience | 4 | Basic trading platforms available but lack features. |
| Trustworthiness | 2 | No regulatory oversight raises significant concerns. |
| User Experience | 3 | Mixed reviews indicate a lack of transparency and support. |
Account Conditions (4/10): Users have expressed frustration over the lack of clarity regarding account types and associated fees. According to a WikiFX article, the absence of detailed information can lead to confusion and mistrust.
Tools and Resources (5/10): While Sankore does offer some educational resources, they are not comprehensive. Many users have noted that the insights provided do not match the complexity of the forex market.
Customer Service and Support (3/10): Customer service is limited to specific hours, and users have reported difficulties in reaching support. A review on Glassdoor highlighted poor management and inadequate support systems.
Trading Setup/Experience (4/10): The trading platforms available, MT4 and MT5, are standard in the industry, but users have noted that the trading experience lacks advanced features, making it less appealing for seasoned traders.
Trustworthiness (2/10): The lack of regulation is a significant concern. As noted in a Scamadviser review, the absence of oversight can expose traders to high risks.
User Experience (3/10): Overall user experiences have been mixed, with many expressing concerns about transparency and the reliability of the broker's services.
In conclusion, while Sankore offers a variety of investment services, the lack of regulation and transparency poses significant risks for potential investors. Users are advised to proceed with caution and conduct thorough research before engaging with this broker. The overall sentiment from the Sankore review indicates that it may not be suitable for beginners or those seeking a secure trading environment.
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