SIS Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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I was interested in trading with SIS but couldn't find any information about their regulatory licenses. It's important to me that a brokerage is regulated to ensure my investments are protected. Without this information, I'm hesitant to trust them with my money. I hope they can provide more transparency in the future to give potential clients more peace of mind.
Summary: The Sis brokerage has raised significant concerns among traders and regulatory authorities alike. Users report issues with withdrawals and poor customer service, while regulatory warnings highlight its unregulated status. Key findings suggest a lack of transparency and potential fraudulent practices associated with Sis.
Note: It is essential to consider the different entities operating under the Sis name across various regions, as this may impact user experiences and regulatory scrutiny.
| Category | Rating (Out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 1 |
| Trading Setup (Experience) | 2 |
| Trust Level | 1 |
| User Experience | 2 |
| Additional Rating | N/A |
How We Rate Brokers: Ratings are based on user feedback, expert opinions, and regulatory status.
Sis, operating through various entities, has been in the spotlight for its dubious practices. Established in 2013, the brokerage claims to provide a wide range of trading services, including forex, stocks, cryptocurrencies, and commodities. The trading platform predominantly used is MetaTrader 4 (MT4), which is known for its user-friendly interface and extensive features. However, the lack of regulation from reputable authorities such as the FCA or SEC raises red flags about its legitimacy and trustworthiness.
Regulated Geographic Areas/Regions:
Sis operates without proper regulation in multiple jurisdictions, which is a significant concern for potential investors. Regulatory bodies, including the Belgian Financial Services and Markets Authority (FSMA) and the Netherlands Authority for the Financial Markets (AFM), have issued warnings against engaging with Sis.
Deposit/Withdrawal Currencies/Cryptocurrencies:
The specifics regarding deposit and withdrawal currencies are not clearly outlined in the available information. However, the absence of clear guidelines often leads to complications for users attempting to manage their funds.
Minimum Deposit:
Information regarding the minimum deposit required by Sis is sparse, but the lack of transparency in this area is typical of brokers with questionable practices.
Bonuses/Promotions:
No current promotions or bonuses are mentioned in the reviews, which is not uncommon for brokers that are under scrutiny.
Tradeable Asset Classes:
Sis claims to offer a diverse range of assets, including forex, stocks, commodities, and cryptocurrencies. However, the actual availability of these assets may be limited due to regulatory issues.
Costs (Spreads, Fees, Commissions):
Details on the costs associated with trading on Sis are not well-documented, which is a common characteristic of brokers that may not operate transparently.
Leverage:
The leverage offered by Sis is not specified in the reviews, but high leverage is often a tactic used by less reputable brokers to attract traders.
Allowed Trading Platforms:
Sis primarily utilizes the MT4 platform, which is widely recognized for its robust trading capabilities. However, the lack of proprietary platforms may indicate a lower level of investment in technology.
Restricted Regions:
While specific restricted regions are not mentioned, the lack of regulation suggests that traders from many jurisdictions may face challenges when dealing with Sis.
Available Customer Service Languages:
Customer service reviews indicate that support is lacking and often unresponsive, with no specific languages mentioned.
| Category | Rating (Out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 1 |
| Trading Setup (Experience) | 2 |
| Trust Level | 1 |
| User Experience | 2 |
| Additional Rating | N/A |
Account Conditions:
The account conditions at Sis are rated poorly due to a lack of transparency and regulatory oversight. Users have reported difficulties in accessing their accounts and withdrawing funds, which is a significant warning sign.
Tools and Resources:
While Sis offers the MT4 platform, the resources available for traders are minimal. The absence of educational materials and market analysis tools contributes to a lower rating in this category.
Customer Service and Support:
Customer service is a major area of concern for Sis, with numerous reports of unresponsive and ineffective support. Users have expressed frustration over the inability to get timely assistance, further damaging the broker's reputation.
Trading Setup (Experience):
User experiences with the trading setup have been predominantly negative, with complaints about delayed transactions and issues with executing trades. This lack of reliability can deter potential traders.
Trust Level:
The trust level for Sis is critically low, primarily due to its unregulated status and numerous warnings from financial authorities. The potential for fraudulent activities makes it a risky choice for investors.
User Experience:
Overall user experiences with Sis have been disappointing, with many traders reporting significant challenges in withdrawing funds and receiving adequate support.
In conclusion, the Sis brokerage presents several red flags that potential investors should be aware of. The regulatory warnings, combined with negative user experiences, suggest that engaging with Sis may pose significant risks. It is highly advisable to consider other, more reputable brokers for trading activities.
