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Regarding the legitimacy of SICH forex brokers, it provides ASIC and WikiBit, (also has a graphic survey regarding security).

Is SICH safe?

Rating Index

WikiFX Detection

Business

Field Survey Danger

License

ASIC Revoked

Is SICH markets regulated?

The regulatory license is the strongest proof.

ASIC Appointed Representative(AR)

Australia Securities & Investment Commission

Regulatory Agencies Introduction

Current Status:

Revoked
License Type:
Appointed Representative(AR)

53762:

HLK GROUP PTY LTD

Australia ASIC STP

Licensed Entity:
SICH CAPITAL GROUP PTY LTD
Effective Date: 53749
2021-11-08
Email Address of Licensed Institution:
jason@hlkgroup.com.au
53748:
No Sharing
Website of Licensed Institution:
--
Expiration Time:
2022-02-23
Address of Licensed Institution:

156 739 Sydney Rd Brunswick VIC 3065
Phone Number of Licensed Institution:
1300 669 605
Licensed Institution Certified Documents:

Annex1 Annex2 Annex3 More

Is SICH Capital Safe or Scam？

Introduction

　　SICH Capital, a trading name of SICH Capital Ltd, positions itself as a global online trading broker, claiming to offer various financial services to traders worldwide. However, the rise of online trading platforms has also led to an increase in fraudulent activities, making it crucial for traders to carefully evaluate the legitimacy of brokers before investing their hard-earned money. This article aims to investigate whether SICH Capital is a safe trading option or a potential scam by analyzing its regulatory status, company background, trading conditions, client experiences, and overall risk factors. Our investigation is based on a comprehensive review of available online resources, user feedback, and expert analyses.

Regulatory and Legitimacy

　　The regulatory status of a broker is a fundamental aspect that determines its legitimacy and reliability. Regulated brokers are subject to strict oversight by financial authorities, which helps protect investors from fraud and malpractice. Unfortunately, SICH Capital operates without any valid regulatory license, which raises significant red flags regarding its trustworthiness.

Regulatory Authority	License Number	Regulatory Region	Verification Status
None	N/A	N/A	Unregulated

　　The absence of regulation means that SICH Capital is not held accountable to any financial authority, making it difficult for traders to seek recourse in case of disputes or financial losses. This lack of oversight is alarming, especially considering the numerous complaints and negative reviews associated with the broker. Traders should be cautious and consider that investing with an unregulated broker poses a high risk to their funds.

Company Background Investigation

　　SICH Capital Ltd was registered in 2021, but details about its ownership and management team remain obscure. The company claims to operate out of China, yet its website lacks transparency and fails to provide comprehensive information about its history or the individuals behind it. This lack of clarity can be concerning for potential investors, as reputable brokers typically disclose their management team's qualifications and experience.

　　Moreover, the company's website has been reported as inaccessible at times, further complicating the situation. The absence of clear contact information and operational transparency raises questions about the broker's legitimacy. A thorough background check reveals that SICH Capital has been flagged for fraudulent activities, which further diminishes its credibility.

Trading Conditions Analysis

　　Understanding the trading conditions offered by a broker is essential for evaluating its overall value proposition. SICH Capital presents itself as a competitive trading platform, but the lack of transparency regarding its fee structure raises concerns.

Fee Type	SICH Capital	Industry Average
Major Currency Pair Spreads	N/A	1.0 - 2.0 pips
Commission Model	N/A	Varies
Overnight Interest Range	N/A	Varies

　　The absence of clear information about spreads, commissions, and overnight fees is a significant drawback. Traders typically expect to find detailed fee structures on a broker's website, allowing them to make informed decisions. The lack of transparency in SICH Capitals trading conditions may lead to unexpected costs and unfavorable trading experiences.

Client Fund Safety

　　The safety of client funds is paramount when choosing a broker. SICH Capital's lack of regulation raises serious concerns regarding the security of traders' investments. Regulated brokers are required to implement measures such as segregating client funds and providing investor protection schemes. However, SICH Capital does not offer any such assurances.

　　Investors have reported difficulties in withdrawing their funds, indicating potential issues with the broker's financial practices. The absence of clear policies on fund protection and withdrawal processes raises alarms about the safety of client investments. Without adequate safeguards in place, traders may find themselves at risk of losing their capital.

Customer Experience and Complaints

　　Analyzing customer feedback is crucial in assessing a broker's reliability. Numerous complaints against SICH Capital highlight patterns of dissatisfaction and frustration among clients.

Complaint Type	Severity Level	Company Response
Withdrawal Issues	High	Poor
Poor Customer Service	Medium	Slow
Misleading Information	High	None

　　Many users have reported being unable to withdraw their funds, often being met with vague excuses or delays. Additionally, complaints about unresponsive customer service further compound the negative experiences reported by clients. These issues suggest a lack of professionalism and accountability, raising further doubts about whether SICH Capital is safe for trading.

Platform and Trade Execution

　　The performance of a trading platform directly impacts the trading experience. SICH Capital claims to offer a robust trading platform; however, user experiences indicate potential issues with stability and execution quality. Reports of slippage and order rejections have surfaced, suggesting that the platform may not function as advertised.

　　Moreover, the lack of transparency regarding the technology and infrastructure behind the trading platform raises concerns. Traders expect reliable platforms that ensure swift execution and minimal disruptions, and any signs of manipulation or inefficiencies can lead to significant financial losses.

Risk Assessment

　　Engaging with SICH Capital comes with inherent risks due to its unregulated status and negative customer feedback.

Risk Category	Risk Level	Brief Description
Regulatory Risk	High	No regulatory oversight
Financial Risk	High	Difficulty in fund withdrawals
Operational Risk	Medium	Potential platform instability

　　Given these risks, it is crucial for traders to exercise caution. Investing with an unregulated broker like SICH Capital can lead to significant financial losses. Traders should consider alternative options that offer better regulatory protections and customer support.

Conclusion and Recommendations

　　In conclusion, SICH Capital raises numerous concerns regarding its legitimacy and safety for traders. The broker's lack of regulation, poor customer feedback, and questionable trading practices suggest that it may not be a trustworthy option for investors.

　　Traders should be wary of engaging with SICH Capital and consider exploring regulated alternatives that provide greater security and transparency. Brokers with established reputations and regulatory oversight can help ensure the safety of investments and provide a more reliable trading experience. If you are considering trading, it is advisable to conduct thorough research and choose a broker that prioritizes client protection and service quality.

Is SICH a scam, or is it legit?

The latest exposure and evaluation content of SICH brokers.

MT5 fraud and unable to withdraw

I finally saved a sum of money and was called by a friend to use MT5. I thought I could easily make money, but in the end I found out that I couldn’t get the money. They will use tax money to press you, but all my money has been invested. Where does the money come from to pay the tax? I'm going to borrow an underground bank. Fortunately, I have to ask you guys before I know it's a scam

Freeze the account permanently because I did not pay tax or margin and they confiscate my principal and profit

Romance scam of SICH. They first ask to pay 15% tax on the grounds that the profit on the platform exceeds US$500,000 before withdrawing funds, and then it is necessary to pay off the tax within 7 working days, otherwise the account will be permanently frozen and no funds will be released. Then, the account is suspected of malicious transactions and it is necessary to pay a deposit of 100,000 US dollars margin to withdraw funds. They continue to ask for deposit without withdrawing funds for various reasons, and finall maliciously freeze the account permanently and confiscate the principal and income.

Platforms like these aren't worthy of our time and money

Nobody gave me a concrete response and they don't allow withdrawal saying i need to speak with the compliance department. I have spoken to every accessible department on the platform to ask what needed to be done with no solution to which the class action fintrack/ org aided gave in to the return of investment I had to repeatedly try to find solution by myself in order to get the slightest result.

SICH does not withdraw

After applying for a withdrawal of 2000 USD on the SICH platform on January 10, it was rejected by the customer service and was required to deposit 100,000 USD as a security deposit on the grounds that a third-party transfer (a friend borrowed 100,000 USD) was involved in a money laundering crime before the 2,000 USD could be withdrawn. If I cannot make deposit as platform required, the platform will automatically freeze the trading account on January 31 and cannot withdraw and operate. The SICH platform hastily decided to freeze the customer's trading account and withdraw operations when there is no wanted letter or judgment from the judicial authority where the customer is located. It has caused damage to SICH's goodwill and seriously affected the rights and interests of customers.

I will keep exposing SICH till they shut down

SICH is still out there doing what they know how to do best. This has to be the worst company ever. They are thieves , They will take all your money and stop responding to mails and calls. My account manager is a terrible person, and only if he is a real person. This company refused to give me my total sum of 100,000USD and stopped responding to my calls. immediately after my deposit i was locked out of my account had to use the services of AssetsClaimBack recovery serv to get my investment returned. I will keep posting about SICH for people to know bitter they are.

It's not seems like a fraud, it's a scam at all!

Withdrawal has to pay 20% tax and cannot be deducted from the account. The tax payment method must be paid within 10 minutes after they give it to you, and the withdrawal is refused. Now the customer service is gone and no email is answered.

i don't recommend SICH Capital

The easiest part of my experience with Sich Capital was depositing money on to the platform, not to mention how difficult and stressful it was trying to withdraw from it I had to call for withdrawal that came under a complainant fintrack/ org expressing my grievances towards Sich Capital because I signed up for a good trading experience instead i was welcomed to a terrible experience with this company.

XAUUSD jumped 2600 pips in a trade in a second

Hi, I have professional analyst I use to trade. We were in the middle of a trade with XAUUSD and in one second the market jumped 2600 pips. I lost all my money when this happened and am negative $1200 now. My financial analyst and I both know XAUUSD doesn't jump 2600 pips, this isn't possible. I lost over 7k from this. I know whoever else was using their platform also took major losses. They are trying to tell me this is my fault and very normal of the market to jump 2600 pips out of nowhere.

SICH Similar Brokers Safe

Whether it is a legitimate broker to see if the market is regulated; start investing in Forex App whether it is safe or a scam, check whether there is a license.

SICH latest industry rating score is 1.46, the higher the score the safer it is out of 10, the more regulatory licenses the more legitimate it is. 1.46 If the score is too low, there is a risk of being scammed, please pay attention to the choice to avoid.

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