SeguroFX Review: A Top Player or Just a Simple SCAM?

In a sea of self-proclaimed industry leaders, SeguroFX is yet another brokerage firm that boldly positions itself as a top player. However, a peculiar puzzle awaits us when we delve deeper into this company. Despite its grandiose claims, there seems to be a surprising scarcity of online reviews and feedback about SeguroFX. This enigma begs the question: Is this broker indeed a legitimate platform or just another elaborate scam?

SeguroFX General Information

Registration and Client Portal Review

When visiting SeguroFX’s official website, you can’t help but notice the lack of attention given to its design and functionality. A generic backdrop and simple charts displaying quotes welcome visitors, while the content heavily emphasizes the broker’s supposed advantages. The main page is brimming with promises, and the “About Us” section follows suit, listing numerous pros. A multilingual platform is offered, catering to clients from various regions. Interestingly, the most informative section turns out to be the FAQ, which surprisingly provides more details than the account descriptions.

However, the registration process reveals a different story. Forget about the usual formalities! SeguroFX takes a unique approach by completely ditching the registration form. That’s right, no lengthy questionnaires, no personal details to fill out, and certainly no hassle. Instead, they proudly present you with a simple login screen, as if to say, “Welcome, we already know you!”

SeguroFX Trading Conditions

When it comes to offering something unique or exciting, SeguroFX seems to have missed the memo. This CFD broker falls into the category of “run-of-the-mill” with its lackluster and uninteresting services.

Account Types Review

With only four types of accounts to choose from, SeguroFX fails to impress with its limited variety. The differences among these accounts are minimal, mostly revolving around the minimum deposit and associated services. If you’re seeking any semblance of VIP treatment, you’ll have to opt for the VIP account. What exactly qualifies as “VIP active access” is anyone’s guess.

Fees and spreads? Don’t bother looking for detailed information. They were conveniently left out, as if they were trade secrets. Even commissions and swaps remain elusive, shrouded in mystery. It’s only in the FAQ section that you’ll find a mention of the minimum trading amount of $250 and the leverage up to 1:200.

However, wait, there’s more! SeguroFX generously offers bonuses to its clients. By the way, reputable regulators frown upon such “gifts” in the trading industry. It suggests that something fishy might be going on behind the scenes. Are we dealing with just another Dealing Desk? It wouldn’t come as a surprise.

In the end, SeguroFX’s lackadaisical approach to describing its trading conditions and questionable bonus offerings leaves us scratching our heads. Perhaps they were aiming for a new level of “mysterious trading experience,” or maybe they simply forgot to put in the effort. Either way, trade cautiously in the world of this company, where unoriginality takes center stage.

Trading Platform

SeguroFX presents you with a choice: download their trading platform or use their WebTrader. However, we can’t help but wonder why this broker believes their terminal to be competitive and technologically advanced. In reality, it’s nothing to write home about.

The platform offers a meager selection of indicators and a relatively pleasant interface, but that’s about it. When compared to popular solutions like MT4, MT5, or TradingView, it falls significantly short. We can almost hear the crickets chirping in the background.

So, if you were expecting a cutting-edge trading platform that would revolutionize your trading experience, you might want to look elsewhere. SeguroFX’s offering may leave you wanting more, both in terms of features and technological prowess.

SeguroFX — Deposit and Withdrawal of Funds

When it comes to funding your SeguroFX account or making withdrawals, the broker offers a couple of options: wire transfers and credit cards. To deposit funds, you can conveniently do so through your Client Area. However, we don’t know for sure because we can’t register.

Withdrawals follow a slightly different process. SeguroFX states that withdrawal requests are processed within a timeframe of 1 to 10 days. Yes, you read that right, my friend. You’ll have to wait patiently while they navigate through their procedures to handle your request.

So, if you’re in a hurry to access your funds or prefer a more streamlined and efficient withdrawal process, this might not be the best option for you.

Verification

Verifying your identity requires submitting a few documents. These include clear copies of valid identity documents, both front and back, as well as proof of address. You can provide an identity card, passport, or driver’s license, along with a utility bill that confirms your current residence.

While it’s essential to undergo the verification process to ensure the security and compliance of your account, SeguroFX leaves us in suspense regarding the duration of document verification. The broker fails to provide any indication of how long it will take to review and authenticate the submitted documents.

Additional Options

SeguroFX offers an affiliate program, but you won’t find much information about it readily available on their website. Surprisingly, the details of this program are hidden away in the depths of the FAQ section, as if it’s a secret treasure waiting to be discovered. According to the FAQ, if you refer someone to the platform and they make a deposit of up to $2,000, you’ll receive a $200 reward. However, if your referral’s deposit exceeds $2,000, your reward will increase to $300.

Additionally, the broker has a bonus system in place. However, these rewards are not handed out freely. To be eligible for bonuses, you must meet certain criteria, such as having a specific number of effective trades and aligning with the investor’s profile.

Lastly, let’s not forget about the glossary section on their website. We can only imagine the perplexing purpose it serves. Will it magically transform you into a trading guru? Or will it simply leave you scratching your head, wondering how those obscure terms are meant to assist you on your trading journey? It’s a mystery waiting to be unraveled.

Is SeguroFX a Scam?

The legal information provided by SeguroFX has left us perplexed and bewildered.

Legal Information and License

In the footer of their website, the company claims one thing, while in the FAQ section, it states something entirely different. In the FAQ, they proudly mention being authorized by the IFSC (International Financial Services Commission) of Belize. However, in the footer, they assert that they have obtained a license from the MWALI regulator, even providing a license number. Although the MWALI registry may not be widely recognized, it is easy to find the necessary information within it. Here’s the catch.

Firstly, the license number they provide is fake, as genuine MWALI licenses consist of seven digits. Secondly, there is indeed a company listed under license number Т2022095, but it has nothing to do with SeguroFX, as their claimed license number is E202295. And finally, the company associated with license Т2022095 is identified as PANGAIA LTD, which has no connection whatsoever to SeguroFX. The inconsistencies and misrepresentations raise serious doubts about the credibility and authenticity of SeguroFX’s claims.

Segurofx.com Domain Info

SeguroFX gave us even more reasons to suspect it as a scam when we investigated its domain. Firstly, it is registered as a private individual, located in Arizona. Secondly, the official website was only created on March 23, 2023. This raises eyebrows considering our earlier observation that there is a severe lack of reviews and feedback about this broker. The actual duration of its operation is now brought into question, casting further doubt on the legitimacy and trustworthiness of this broker.

Contacts Review

The broker provides limited contact information, with only a contact form and email address available. There is no phone number provided. However, in the footer you can find an address. Of course, we do not recommend embarking on a journey to locate a non-existent broker in Mwali.

Pros and Cons

2.6 TOTAL SCORE

SeguroFX Summary

SeguroFX exhibits numerous red flags and suspicious practices that raise serious doubts about its legitimacy as a reliable broker. From its misleading and contradictory information on licensing to the lack of transparency in its contact details. Avoid such types of brokers.

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Website information content 3

Client Portal 2

Trading conditions 3

Trading platform 3

Deposit and withdrawal 4

Verification 3

Extra options 4

Licenses and guarantees 1

Work duration 1

Feedback 2

Frequently Asked Questions (FAQ)