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Seidel Finance Review: A Scam or a Legit Broker?
Seidel Finance is an online investment company that claims to offer a variety of products and services, such as portfolio management, stocks, bonds, commodities, cryptocurrencies, and more. The company also claims to have offices in London and New York, and to be regulated by various authorities. But is Seidel Finance a trustworthy broker or a scam? In this review, we will examine the facts and evidence about Seidel Finance and its activities.
Who are they?
According to their website, Seidel Finance is owned by AW Securities / Seidel Finance, a company registered in the UK and the US. However, there is no evidence of such a company existing in either country. The website also provides two addresses, one in London and one in New York, but both are virtual offices that can be rented by anyone. The website also provides two phone numbers and two email addresses, but none of them are answered or replied to by anyone from Seidel Finance.
Regulation and Compliance: BaFin Issues Warning
One of the most important factors to consider when choosing an online broker is whether they are regulated by a reputable authority that can protect your rights and interests as an investor. Seidel Finance claims to be regulated by the Financial Conduct Authority (FCA) in the UK, the Securities and Exchange Commission (SEC) in the US, and the Cyprus Securities and Exchange Commission (CySEC) in the EU. However, none of these regulators have any record of Seidel Finance or its owners. In fact, the German Federal Financial Supervisory Authority (BaFin) has issued a warning against Seidel Finance for violating the prospectus requirement and publicly offering shares of Ecological Technologies Ltd. without authorization. BaFin has also prohibited Seidel Finance from offering any securities or financial services in Germany.
Another way to assess the reliability of an online broker is to look for reviews and feedback from other customers who have used their services. This can provide valuable insights into the quality of their products, platforms, customer service, and overall experience. Unfortunately, there are very few reviews about Seidel Finance online, and most of them are negative. Many customers have reported being scammed by Seidel Finance, losing their money, and being unable to withdraw their funds or contact anyone from the company. Some customers have also reported being harassed by phone calls and emails from Seidel Finance agents who pressure them to invest more money or pay fees.
Products and Services
Seidel Finance claims to offer a wide range of products and services for investors of all levels and preferences. These include portfolio management, stocks, bonds, commodities, cryptocurrencies, indices, futures, options, and more. However, there is no evidence that Seidel Finance actually provides any of these products or services. The website does not provide any information about the trading platforms, fees, spreads, leverage, margin requirements, or execution policies. The website also does not provide any educational resources, market analysis, or trading tools for customers.
Seidel Finance claims to have offices in London and New York, but both are virtual offices that can be rented by anyone. The company does not have a physical presence or a license to operate in either country. The company also does not disclose where it is actually based or where it holds its customers’ funds.
Seidel Finance claims to have a professional and responsive customer service team that can be reached by phone or email 24/7. However, none of the phone numbers or email addresses provided by the company are answered or replied to by anyone from Seidel Finance. Many customers have reported being unable to contact anyone from the company after depositing their money or requesting a withdrawal.
Based on our research and analysis, we conclude that Seidel Finance is not a legitimate broker but a scam. The company has no regulation, no transparency, no reputation, no products, no services, no location, and no customer service. The company has also been warned and banned by BaFin for violating the prospectus requirement and offering unauthorized securities. We advise you to avoid Seidel Finance at all costs and report them to your local authorities if you have been scammed by them.