The offshore firm SUISSECG provides trading services. It provides four account types to deal with foreign exchange and CFDs. All the services and products are assessable on some unfriendly web-based trading platform. There are several concerns about this broker. We will discuss everything in this scam broker review.
The SUISSECG provides a huge selection of assets to trade with and is a nice thing about the broker. Another positive thing about this broker is, it is provided with high leverage from 1:100 to1:400 depending upon trading account. This broker provides FX on many currencies, CFDs on shares, several commodities, cryptos, and indexes. The amount from $250 to $5000 is required to open an account with this broker. The three accounts are Platinum, Gold, and Self Managed. The fourth account called VIP does not mention any minimum deposit nor spreads that why we call it a mysterious account.
Saint Vincent and the Grenadines based company TECHNORIC LTD is the owner of SUISSECG. The government of Saint Vincent and the Grenadines asserts that it does not register any forex and crypto brokers. This is evident to say that the company is unregistered. It also says that our financial regulator does not oversee such financial services. This means the SUISSECG is also unregulated. All the above discussion is enough to mention the risk associated with this broker. No one can control its fraudulent nature. Also, in our research, we found that this broker also manages a brand called TRADERUR which is blacklisted by the UK based financial regulator FCA. This also means the broker is a potential scam broker.
The website of this broker lacks information on spreads but on checking its web-based platform the spread on prime currency pair was 3-4 pips. This spread is totally unfair to the traders. The absence of MetaTrader trading platform makes this broker unattractive. The website sheds light on withdrawal time taken of about 10 days. The withdrawal amount is capped at $100. Also, a minimum of $30 or 1% is charged on the withdrawal amount.
Is SUISSECG scam or legit?
The credibility of SUISSECG is at the questions. This broker is nonregulated and is offshore. The offers provided by this broker are unattractive. Lack of information on the trading environment is unacceptable. The minimum deposit and spreads are high and can dupe traders in a matter of seconds. Traders must give preference to licensed and regulated brokers to check any fraud. In our eyes, the SUISSECG can be a potential scam broker and must be avoided.
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