Is SGT Markets Scam or Legit Broker?

No, it is not safe to trade with SGT Markets. Sterling Gent Trading Ltd. is an authorized and regulated Forex Broker by the Financial Services Commission in the British Virgin Islands. The BVI FSC is known for its light-touch regulation and very loose requirements that brokers do not try to comply with. Although the firm is licensed, BVI regulation is not enough to provide financial services in, for example, the UK.

About SGT Markets
🗺️ Registered inBritish Virgin Islands
🗺️ Type of LicenseOffshore License
🛡️ Is SGT Markets safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerGO Markets - licensed by ASIC in Australia

What is SGT Markets?

SGT Markets is a broker that provides liquidity and trade execution services to the Forex (FX) and CFD (Contracts for Difference) markets including Metals, Oil, and Equity Indices.

  • Despite the broker’s assertions to be incorporated in the British Virgin Islands, their website still states the correspondence address in Bermuda, another offshore zone.
  • In addition, all the provided contact phone numbers are British, however, SGT Markets doesn’t have any branches in the UK and is not licensed there. 

 

sgt markets

Overall SGT Markets Ranking 

Our research revealed issues about the regulations and safety of SGT Markets, so we do not rank positively SGT Markets, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

  • SGT Markets Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.
RankingSGT MarketsAdmiral MarketsXTB
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneTrading EnvironmentTrading Platforms

SGT Markets Alternative Brokers

Due to our finds and issues with the safety of SGT Markets, here are much better Alternatives to SGT Markets with good regulations and excellent conditions. We select Good Brokers and trustworthy options for your comparison below: 

  • AvaTrade – Good Instruments and CopyTrading
  • Pepperstone – Low Spreads and Competitive Trading Conditions
  • XM – Wide Range of Trading Opportunities

Deposit & Withdrawal

SGT Markets offers fast and easy funding through Bank Wire, Debit/Credit cards, and e-wallets. With SGT Markets credit or debit cards are often the fastest and easiest way to deposit funds online. If your deposit exceeds 30,000 (USD, EUR, or GBP) or the equivalent, the most favorable method to deposit funds is by bank wire.

  • The minimum deposit is $100, £100, or €100, depending on the account currency.  
  • Deposits via bank transfers are completed within 24 hours.

SGT Markets Review Conclusion

We advise all investors and traders to avoid SGT Markets and other brokers from the British Virgin Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as HotForex and BlackBull Markets

  • Overall ranking and experience for SGT Markets is Negative

No news available.

2 responses to “SGT Markets”

  1. Comment AreaSGT Market is a scam company, there are people who work inside this company and cheat customers by selling fake signals on accounts that do not exist. In practice they publish on Tradin Signals or other portals false signals of false accounts to attract customers to whom they ask to open accounts on their broket in exchange for the sale of signals. The person that deals with this scam is an Italian named Simone Ambrogio and lives in Italy in the province of Romano Lombardia (Brescia). the signals they sell are not true, the CEO is a Pole

  2. • SGT has no client by the name of “daniel marku” nor any history of any contact with anyone by that name in our CRM.
    • We have evidence which confirms our belief that the review written by “daniel marku” is in fact written by the ex-wife of a gentleman SGT hired on a freelance basis and the review was written with the sole purpose to inflict emotional distress on this gentleman during their divorce trial.
    o The review is blatantly defamatory. Screenshots have been supplied to our freelancer. This review and your website may be used by him as evidence at the divorce trial.
    o You should also be aware that to publish, distribute, endorse or promote defamatory statements can be prosecuted in a court of law.

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