Is this a legitimate broker in the UK? https://m.svsmarketsltd.cc/#/

By Miyazaki, from Japan, 6月 4, 2024 at 08:15 AM

Is this a legitimate broker in the UK? I deposited $80,000. I can’t withdraw the money unless I pay $6,000. Is this a company I can pay into?

Answer: Hi Miyazaki,

Based on the information found on the broker’s website SVS Markets it mentioned being regulated Broker in the US, however as we research we didn’t find any license or company established in the US under SVS Markets name. 

  • Making a deeper research we found SVS refers to the name of the company which indeed had business in UK but is not operating since 2019 as it went to administration (See our SVSFX review by the link)
  • But instead the current company and site you refer to as SVS Markets is in fact based in Vanuatu and licensed there, while Vanuatu is an offshore zone known to be risky and potential fraudulent zone so we always recommend traders avoid Broker based only in the offshore zone
  • So all in all main flagship towards SVS Markets is mislead of information with fake information about its nature of operation, since in fact Broker is not regulated either in US, Japan, or UK as it promises to clients. Therefore, SVS Markets is not eligible to provide legal financial services or trading/investment towards traders of Japan.
  • Besides, it is common fraud and scam practice to ask deposit more money in order to withdraw you already existing or previously deposit funds, so it is always a red flag towards Broker in case you receive any messages like this.

So in our conclusion about SVS Markets review, we strongly advise exercising caution when selecting to trade with the broker and definitely avoid any investment or trading with SVS Markets. 

For now, we would advise to try withdraw your existing funds and in any case do not make any more deposit, since it is unfortunately high probability nothing you will be able to withdraw.

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