Sigma Capital Review – 5 things you should know about

Sigma Capital Review – 5 things you should know about

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Beware! Sigma Capital is an offshore broker! Your investment may be at risk.



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Sigma Capital is an offshore forex and CFD broker, offering a selection of currency pairs and CFDs on indices, commodities, precious metals, stocks and futures with a leverage of up to 500:1 and the MetaTrader4 platform. The broker also offers a choice of two account types, complimented with trading bonuses – a practice, banned by the European Securities and Markets Authority (ESMA) and other regulators around the world.

In any case we have some serious issues with the legitimacy of the broker and its regulatory status, which we will discus in the following paragraphs.

Sigma Capital regulation & safety of funds

Sigma Capital is owned and operated by The Sigma Capital Ltd. – a Marshall Islands based company, which unfortunately is not regulated by any official financial regulator such as the Financial Conduct Authority in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).

And while it is true that on the Marshal Islands you do not need a license to offer financial services, if you target customers in the European Union, UK, the US or Japan without a legit license, you will be violating the local laws.

Brokers licensed in Europe, Australia or the US are required to follow strict financial and ethical rules, among which to maintain a certain minimum operational capital, to provide all clients with a negative balance protection, to keep their money in a segregated, protected form creditors account, to file regular reports, to allow external audits and with some regulators even to insure traders cash.

For example, if you are trading with a FCA broker, 50 000 GBP of your funds will be insured by a FCA backed investor compensation scheme. Similarly, with CySEC brokers, you will be compensated with up to 20 000 EUR in the unlikely event your broker files for bankruptcy.

Sigma Capital deposit/withdrawal methods and fees

Sigma Capital accepts payments with major credit or debit cards like VISA and MasterCard, as well as e-wallets like Skrill, Neteller, MegaTransfer and bank wire.

Besides, here we should note that in an effort to fight scam, Skrill will cease to accept payments from customers in the European Union made to brokers, that are not regulated by a local financial authority such as the FCA, ASIC or CySEC.

Also be aware that if you accept a trading bonus, your right to withdraw with Sigma Capital will be linked to a certain minimum trade volume requirement.

The minimum deposit requirement with Sigma Capital is 500 USD.

How does the scam work?

The most common forex scam scenario starts with video add you may watch on one of the so called robo scam websites like Crypto Revolt and Bitcoin Evolution, where you will be promised amazing, risk free returns with a modest investment and a “cutting – edge” trading platform, offered to a chosen few. Now if you get hooked and do register with the robo scam website, leaving your e-mail and phone, you will be immediately transferred to the web page of an unregulated, offshore broker, and will be invited to deposit your first 250 USD.

It is interesting to note that, your first trades with the scam broker will be spectacularly successful, basically because your account will be manipulated. Actually the idea is that if you are happy with your trading results, you will be more easily tricked to invest more. And surely that is when you will receive a phone call as well. It will be from “your senior account manager”, who will try to convince you, that if you want to make some real cash you will simply have to invest more – at least 10 000 USD.

Take a note that you will not realize you have been scammed until the moment you decide to withdraw some of your funds. It will suddenly turn out that you do not have the right to withdraw anything until you meet some minimum trade volume requirement, most probably linked to the welcoming bonus, you have so carelessly accepted in the first place. Of course the pretext for the refusal might be anything, but the result will be the same – you will not be able to withdraw.

What to do if scammed?

First and most important, immediately file for a charge back with your credit card company. Fortunately, since October MasterCard extended the period, in which you will be able to do that to 540 days, while VISA plans to adopt the same rule in December. Currently the charge back period with VISA is only 180 days.

If the fraudsters have tricked you to tell them your credit card number or online banking password, be sure to immediately cancel your credit card and change the password for your banking service.

Finally, if scammers have stolen money from you, do not waste any more of your funds by contacting the so called recovery agencies. They will not render you any service, but will simply collect an upfront payment and will leave you even more miserable.

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