Although the platform claims to reside in the UK, SuntonFX fails to have a license from the FCA. All platforms that reside in the UK must have a work permit from the Financial Conduct Authority. Sunton FX does not come anywhere close to a platform that follows set regulations. With a maximum leverage of 500:1, this is way above the set range of 1:100. Let's take a closer look at SUNTONFX REVIEW.
There’s nothing much to talk about when it comes to anonymous websites. Investors in the UK haven’t heard of this platform. It’s likely the platform is targeting UK expatriates in different regions.
The platform claims to offer innovative technology and transparent execution. On their about us page, the platform claims to cover nearly all regions. According to their about us page, professional services are the cornerstone for success.
We even see that they claim to have a license from the FCA. However, no results are found when you look for the company’s name on FCA’s register. So these are false claims the platform makes, hoping no one will confirm.
One of the best ways of investing is using platforms tested by industry experts. These platforms offer a realistic way of investing. In addition, you can invest using transparent platforms that use groundbreaking investment alternatives such as coin staking.
SuntonFX is by far a transparent platform as we see they are using false credentials. However, there are other red flags we spotted, and we must point them out. So before making any rash investment decisions, there are a few points to consider.
You should ensure you do due diligence before signing up with any platform. Make sure you read reviews and find out what others say about a platform. You will get first-hand experience from other users before making a full commitment.
SuntonFX offers two account types on their platform. These accounts include standard and pro accounts. The platform offers a pocket-friendly introductory amount for the basic account. Here’s a closer look at what each account offers;
Standard
It’s the most basic account and comes with a minimum deposit of $100. In addition, the account comes with a maximum leverage of 500:1. Spreads start from 0.00 with 3.0 pips on limit and SL levels. The margin stop-out level is marked at 50 percent.
Pro
You must deposit a minimum of $100 to start using this account. However, when we looked closely, we determined it had the same features as the pro account. So it’s either they are playing with investors or forgot to list the pro account features.
One mistake the platform made was giving the same account features. On the pro account page, that’s where we know this is a clone platform. The information on the page belongs to VT global trading platform, another illicit platform.
We now know for sure that the accounts belong to another investment platform. From the spreads to the number of trading products, Sunton FX is a cloned website. And this is the reason why we must expose all their flaws.
There’s an asset management program available on the platform. According to the page, this offer is limited to a few individuals. From the look of things, the program is targeting institutional clients.
Once you join the platform, there’s also the affiliate program. The platform promises rewards for directing other investors to the platform. You must be extra careful with such programs as they might ruin your reputation.
Sunton Capital Ltd is the company name indicated as the owner of the platform. Being a UK platform, the company should appear on the UK’s Company House registry. And this is not the case as the name is absent.
What we have is a clone website trying to take advantage of UK investors. It’s an anonymous investment platform with no way of proving their actual residency. There’s a huge risk that comes with anonymous investment platforms.
No one knows who is held responsible for funds on the platform. There are no names showing staff members of the CEO or CFO of the company. We suggest you ignore such platforms with no way of knowing the people behind them.
You can open a ticket and wait for a response. The platform also uses Whatsapp as a means of communicating with members. If you ask withdrawal questions, you’re kicked out and your chat history deleted.
The platform also makes the mistake of not including their phone number. All we have is a forwarding email. The platform is trying to control the communication process. You can’t contact them, and they can contact you any time they want.
Account funding options are available on the platform for anyone to use. These options include bank transfer, MasterCard, Visa, and more. Unfortunately, you can’t make payments with Crypto as the platform does not offer crypto trading.
Withdrawing funds with the platform remains a hurdle for some of the investors. Newbies are having a hard time trying to withdraw funds from the platform. It seems the platform only allows users to withdraw 10 percent of their deposit.
If you want out, the platform will do everything in its power to block your withdrawals. In addition, members get emails claiming bank accounts are refusing to allow their transactions. All these are false statements to throw off investors.
Once you register, the platform will demand you fund the account. Upon funding your account, the amount will reflect on your dashboard. After that, you can start trading and get to see the results of your venture.
When the time comes to withdraw, that’s when all hell breaks loose. The platform does not allow anyone to withdraw funds. So you end up not enjoying the fruits of your labor. And this is the reason why we won’t be recommending the platform.
SuntonFX is not a licensed entity despite claiming to be regulated by the FCA. The platform does not offer investors any proof of compliance. All FCA platforms are issued with a license and their registration details registered on the platform.
Without any proof, we can’t take their word for it. What we see is a cloned platform trying to take advantage of naive investors. It would be best if you stayed away from the platform or else risk losing your entire funds.
One of the few positive aspects of the platform is furnishing users with an MT5 trading terminal. MT5 trading platform offers investors a barrage of investment opportunities. You can trade easily, knowing the platform has you covered.
MT4, MT5, and SIRIX are some of the best trading platforms to have. The terminal is fast at executing trades and offers an intuitive user interface.
Security of funds is out of the question with a platform that fails to comply with industry regulations. The platform does not deposit the minimum capital amount required to offer forex services.
You won’t get any insurance cover for deposits made, putting your funds at risk. And that’s why funding an account with Sunton FX is financial suicide.
Here are the main reasons why we don’t recommend using the platform
Now you know the risks that come with trading with SuntonFX.
To become a better investor and trader, you should try out new investment options. For example, try your hand at masternoding and see how it goes.
If you have any queries, drop a comment or write to us.
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.
I have signed up to get suntonfx account, but why i can not login into suntonfx account,
the system is on maintenance now you can log in next week. https://user.suntonfx.com/signup/T8713920-A01