Sallix Capital is a Forex trading broker that provides some other financial activities for its users. It has been in business for more than a year and is registered in Saint Vincent and the Grenadines, but does not have a license. Let us review how bad the lack of a license affects the company’s optics and find out whether the broker is a scam or not.
- Sallix Capital General Information
- Registration and Client Portal Review
- Sallix Capital Trading Conditions
- Account Types Review
- Trading Platform
- Sallix Capital – Deposit and Withdrawal of Funds
- Is Sallix Capital a Scam?
- Legal Information and License
- Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
Sallix Capital General Information
|Phone Number||+44 203 885 9062|
|Address||Granby Street, Kingstown, VC0130, Saint Vincent and the Grenadines|
|Assets||CFDs on fiat pairs, cryptocurrencies, commodities, metals, energies, indices, and stocks|
|Leverage||1:20, 1:40, 1:100, 1:200, 1:400, 1:500|
|Trading Platform||Sallix Trading Platform|
Registration and Client Portal Review
The company’s official website is made in light brand colors and is available in three languages: English, French, and German. The content is not really informative. However, it describes the main features of working with the broker.
The registration process at Sallix Capital is straightforward. The potential user must specify:
- Full name
- Full address and postcode
This is quite it. The newly created account is not even sent for moderation.
After registration, a user has access to their account with the main functions: deposit, withdrawal, profile editing, and verification. At the moment, the broker does not offer a demo account.
Sallix Capital Trading Conditions
The trading terms here are characterized by high leverage – from 1:20 up to 1:400 and in some cases up to 1:500 – as well as a small spread of 0.3 for the main currency pair EUR / USD.
Account Types Review
Sallix Capital offers a wide range of tariffs depending on an account’s status. Here we have leverage levels from 1:20 up to 1:400 as well as monthly volume from $20,000 up to $1,000,000.
The trading software itself is not bad, although it does not get close to MetaTrader: at least the software does not provide any possibility of autotrading. Rather, the problem lies with the firm behind the trade itself.
For example, sometimes offshore firms fake indicators of trading activity in their specially created trading terminals. They hide money by creating the impression that there is a large and active turnover in the market.
Moreover, this is also a reason to think once again why the broker did not adopt one of the most common systems in the world but specially developed its own one.
Sallix Capital – Deposit and Withdrawal of Funds
Among the methods of depositing funds to Sallix Capital, there are Visa, Mastercard debit and credit cards. Also, the methods still include bank transfers and some popular online wallets such as Skrill or Neteller.
However, when trying to log into the trading platform, a user is asked to wait for an incoming call from one of the support staff, who should guide and walk a user through the deposit process.
As for verification, users have access to more than 7 ways to confirm their identity, including
- A Passport, ID, or driving license with a signature shown
- A copy of a bank card with account details and a colored photo
- A Proof of Residence document.
Sallix Capital offers a deposit bonus for all its users. It is enough for traders to top up their accounts with any amount and get a bonus of 100%. Thus, one may double their capital from the very beginning of trading.
Is Sallix Capital a Scam?
At the moment everything looks good, and the company seems trustworthy – one wants to trade here. However, the lack of regulation and legality is quite confusing. So, let us figure out whether Sallix Capital is a scam or not.
Legal Information and License
The license would be a crucial point for the company’s reliability – if it had been gotten. In this case, Sallix Capital is not licensed at all. The site shows the same, “No, Sallix is not regulated, but does this mean you can’t trade with us?”.
In addition, Sallix Capital is officially registered in Saint Vincent and the Grenadines – an offshore for fraudsters. This jurisdiction is notorious and widely known for the complete lack of supervision of internal financial Forex markets, so it is better to avoid firms from there. And even more, the broker does not have a license from any other financial regulators.
Moreover, Sallix Capital is not even in an official database. Saint Vincent and the Grenadines authorities have not included the company’s name or number in the official registry (https://svgfsa.com/company-name-search/).
As the Who.is service says, the site’s domain was registered recently – on 12.22.2022. However, the company does not mention its age in any way, while considering itself the “#1 trusted Forex broker”.
Sallix Capital support can resolve the issue by phone or email – in any case, the staff will send the most detailed response.
In most cases, issues and disputes are resolved within one day. Consultants are available 24 hours online on business days. Finally, if you need immediate help, you can contact the support department via an online chat on the website.
Nevertheless, the company does not have a single offline office in any country.
The trading conditions here are questionable. Let us look at the leverage of 1:400. Of course, the ratio is large – such a percentage can potentially increase profits by about 500 times. Nevertheless, such a condition is followed by high requirements for traders. For example, EU and US countries allow companies to bring the leverage level only to the level of 1:50 or 1:30. They are also often the cause of margin requirements for inexperienced customers. But not here.
Usually, offshore brokers such as Sallix Capital can increase the level of leverage due to not quite legal registration and the lack of relevant documentation. Therefore, it is better to be careful in this matter.
Speaking of spreads, the indicator of about 0.3 is not surprising and corresponds to the industry average, which also keeps within 1 point for most major currency pairs and markets. However, there are other companies with a lower spread.
Pros and Cons
- Free training program.
- Round-the-clock support.
- No license.
- No representative office.
- Questionable and unsafe leverage level.
- Lack of basic information.
Frequently Asked Questions (FAQ)
Sallix Capital is not a licensed broker offering services for securing transactions and leverage trading. Here you can trade various CFDs.
Even though the company has a minimum deposit of $250, the project administration recommends investing from $2,500 to stabilize in case of crises.
According to the review results, Sallix Capital is not reliable for trading primarily due to a lack of official regulation – even despite attractive trading conditions.