Beware! Sigma Invest is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Sigma Invest is an officially exposed scam as a European regulator issued a warning against it. Nevertheless, the broker claims to be CySEC regulated, but it offers 1:500 leverage which outright proves something wrong happens here. Regardless of the warning, though, we need no more to suspect that Sigma Invest is fraudulent. Find out more about this scam in the following review.
Sigma Invest REGULATION AND SAFETY OF FUNDS
As soon as you open the broker’s website, you can see it claiming to be CySEC regulated while being operated by a company incorporated in St. Vincent and the Grenadines. Also, on other web pages, they pretend to be licensed by FMA (Austria) and BaFin (Germany). Well, that’s a lie. Moreover, we can’t even confirm that the broker has something to do with St. Vincent and the Grenadines at all. However, even if it’s an SVG entity, it will be a high-risk one as the country doesn’t license or in any way control FX companies.
The truth about Sigma Invest is quite different from those claims, though. Namely, the Spanish regulator CNMV issued a warning against the broker, exposing it as a scam scheme, so your funds will be in danger if you deposit.
Avoid Sigma Invest and see the high-rated EU brokers and British brokers by following the links provided. The companies topping both lists are licensed and a part of money protection schemes created to secure clients deposits if things go wrong. For example, CySEC brokers’ clients can claim up to 20 000 EUR in compensation, while the British guarantees are up to 85 000 GBP per person. So if you are eligible to open accounts with European companies, you can safely go for it.
Sigma Invest TRADING SOFTWARE
Sigma Invest appears with a terrible web-based software only available in Russian. It’s so bad that once you try to scale it up or down, you can’t reverse back to normality. As you’ll see on the screenshot at the bottom of this section, the so-called platform is worse than useless. That’s a scam!
While talking about software, why don’t you see the high-rated MetaTrader4 brokers and MetaTrader5 brokers on both lists? The companies we recommend are licensed and deliver the best platforms available. Both MT4 and MT5 are packed with advanced tools such as Expert Advisors, many complex indicators, sophisticated charting tools and a marketplace featuring more than 10 000 apps.
The platform comes with EUR/USD spread of 3 pips, which is not a favourable Buy/Sell difference anymore. In contrast, most regulated brokers offer spreads of 1 pip, and below even with their starter accounts, so it’s anyway fruitless to deal with Sigma Invest. It’s a costly broker nonetheless.
As for leverage, the broker says to offer 1:500, which is a high-risk level that can blow your account if you are not careful enough. Furthermore, CySEC, FMA and BaFin do not allow such ratios, which once again proves that Sigma Invest is nothing else but a fraudulent scheme you should avoid. In fact, various financial authorities also imposed leverage regulations, so British and Australian brokers have to limit their clients to 1:30, while US brokers can’t provide more than 1:50. In contrast, most of the high-leverage brokers are poorly regulated or not at all, and you’d better be careful with their offers.
Sigma Invest DEPOSIT/WITHDRAW METHODS AND FEES
The minimum deposit is $250, which is slightly more than the regulated brokers’ standards on average. Well, too many reputable companies offer accounts for $5, which is more than enough for you to try your skills somewhere else.
As for the funding methods, the broker claims to offer various options, but we can’t validate this information as the Client Area is entirely in Russian, and we faced utmost difficulties even accessing it. Sigma Invest is anyway a scam, so you shouldn’t put there even a cent.
While talking about funding, we’d like to suggest our lists with Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers if you have a preferred payment system. The companies on top of both lists are adequately regulated, and you won’t face scammers.
The broker fails to set anything down about withdrawals, fees, inactivity procedures, trading incentives and so on. It mentions there are bonuses available but gives no provisions further. That’s a red flag nonetheless, as it shows that Sigma Invest uses trading incentives only to get people into its fraudulent scheme.
Instead, the broker’s legal documentation is filled with scam clauses, and we are going to show you one of those. It turns out that Sigma Invest doesn’t even allow clients to trade by themselves. All positions opened or closed are somewhat handled by advisors, which is strong evidence of a scam itself. For more info, see the screenshot below.
Overall, Sigma Invest is an exposed scam, so you should steer clear of it.
HOW DOES THE SCAM WORK
The Forex scam is a popular type of fraud, and it’s actually a process. In the typical scenario, the victim clicked on a fraudulent ad, then received a phone call, and at some point got convinced to deposit money. To make people accept fraudulent offers, scammers would present deals that sound too good to be true, bonuses, get-rich-quick schemes, and so on. Their imagination is rich and would invent as many stories to get the craved deposits.
Unfortunately, the first deposit is not the end but the beginning. Gradually, scammers would manipulate victims and would urge them to invest repeatedly. For example, con artists may not allow people to trade themselves but would pretend to manage the accounts. Forged results would show victims massive profits, and scammers would ask for more money, promising to secure more gains.
The first indications of a scam come forth when people ask for withdrawals. Scammers would make excuses to refuse withdrawals and even require additional deposits to let people take their money out. Those criminals won’t stop asking for funds, no matter what. In the worst case, the victim would believe in the scammers’ falsehood and deposit again and again. However, sooner or later, the scam would become evident, the fraudsters would cut the communication and eventually disappear. They would drop the website, create a new one and carry on with their criminal business untouched, while people would be left with losses almost impossible to recover.
WHAT TO DO WHEN SCAMMED
Unfortunately, no one is immune to scams. If this unfortunately happens, the first thing to do is to protect yourself from further risk. Contact your bank and explain what happened so that they can give you instructions and help, if possible, recover your money.
Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!
Remember, it’s crucial not to rush to recover funds because many scam chargeback agencies and individuals are trying to double scam the victims. They ask for upfront payment, take the money but won’t do anything to help you!
Share online your experience; it’s important to protect others, as well. Be responsible!