SGT Markets Review

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.

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. 

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.

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 claims to offer fast and easy funding through Bank Wire, Debit/Credit cards, and e-wallets. While mentioning that 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.

However, since the Broker is solely offshore firm there is no any guarantee weather you will be able to withdraw funds or not, since Broker does not follow any top-tier regulation and customer protection provided by them. 

• The minimum deposit is $100, £100, or €100, depending on the account currency.  
• Deposits via bank transfers are promissed to be 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 HFM and BlackBull Markets. 

• Overall ranking and experience for SGT Markets is Negative