SIG is a contracts for difference (CFD) broker officially registered on April 13, 2024. This broker mainly offers a wide range of trading markets through its proprietary trading platform and the cTrader trading platform, including forex, commodities, indices, cryptocurrencies, futures, and other financial derivatives.
Corporate registration information and regulatory status:
According to the information made public on its official website, the broker claims to be a wholly-owned subsidiary of "Susquehanna International Group." SIG also introduces regulatory bodies such as the Australian Securities and Investments Commission (ASIC), the Financial Markets Authority of New Zealand (FMA), the Vanuatu Financial Services Commission (VFSC), the Financial Crimes Enforcement Network (FinCEN) of the USA, and the National Futures Association (NFA) on its website. However, it does not clearly state whether it is regulated by these institutions. In the "Help Centre" section of its website, the broker claims to be regulated by the Seychelles Financial Services Authority (FSA).
Upon verification, the websites of the Australian Securities and Investments Commission (ASIC), the Financial Markets Authority of New Zealand (FMA), the Vanuatu Financial Services Commission (VFSC), the Financial Crimes Enforcement Network (FinCEN) of the USA, the National Futures Association (NFA), and the Seychelles Financial Services Authority (FSA) did not have any records of a broker named SIG. Moreover, "Susquehanna International Group" is a well-known investment bank, which has no relationship with this broker.
Account Opening:
To open an account with SIG, visit the broker's homepage and click on “START TRADING” to access the account registration page. Fill in personal information such as name, email address, and set a login password. Receive a verification code by email and enter it into the application form. After submitting the form, the account registration will be successful.
Trading Accounts:
SIG offers users a demo trading account and two different types of real trading accounts: Standard Account and Raw Spread Account.
Standard Account:
- Original pricing
- Spreads starting from 1 pip
- No commission
- Fast order execution
- Trading leverage: 1:1—1:1000
- Deep liquidity
- MT5 trading platform
- Minimum opening balance: $200
Raw Spread Account:
- Original pricing
- Spreads: Raw spreads
- Trading commission: $7 per standard lot
- Fast order execution
- Trading leverage: 1:1—1:1000
- Deep liquidity
- MT5 trading platform
- Minimum opening balance: $200
Trading Platforms:
SIG provides its users with a proprietary trading platform and the cTrader trading platform. However, on its official website's Standard account page, it's mentioned that it uses the MT5 trading platform, but no download links for cTrader and MT5 are provided on its website. After investigation, the MT5 trading platform also does not list this broker.
Deposits and Withdrawals:
SIG supports deposits and withdrawals using credit/debit cards, Skrill, wire transfer, Neteller, FasaPay, UnionPay, Bpay, and broker-to-broker transfer methods.
Summary:
Traderknows reminds investors that SIG is actually a suspected fraudulent website involved in false advertising and lacks any regulation. It is advised that investors opt for brokers with transparent information, strong regulation, and a good reputation to avoid unnecessary financial losses in trading activities.
Currently, this broker is marked as "suspected scam" on Traderknows.
