Trade Sigma review – 5 things you should know about tradesigma.cc

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

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In preparing this review, we were unable to find any evidence that Trade Sigma is a legitimate forex broker – and with such a tightly regulated industry, the lack of such evidence means we are dealing with yet another online scam. Let’s take a detailed look at how to identify and avoid fake brokers like Trade Sigma.

Trade Sigma Regulation and safety of funds

Trade Sigma is an anonymous website. Even the text of the Terms and Conditions does not specify a legal entity name or applicable jurisdiction. Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

A UK contact address is listed and the broker is said to be opening an office in the United States soon.

But such an anonymous website could not legally operate as a broker in those jurisdictions. A check of the registry of the UK financial regulator shows that there is no licensed broker using Trade Sigma brand and domain.

Financial authorities in another jurisdiction, Russia, have blacklisted Trade Sigma.

If you want to trade on financial markets without being scammed, you can turn to some of the legitimate brokers that actually operate from established financial hubs like the UK. These brokers have to meet stringent requirements for financial stability and transparency of operations imposed by the Financial Conduct Authority (FCA). They must provide clients with negative balance protection and to participate in a guarantee fund that covers up to GBP 85,000 of a client’s investment should the broker go into insolvency. These brokers are also required to keep their clients’ money segregated from their own operating funds in separate bank accounts.

Trade Sigma Trading software

Trade Sigma  implements standard-looking web-based trading software. While the platform has the basic features for placing orders, customising charts and application of technical indicators, it lacks the more advanced functionality found in the most widely used trading platforms in the industry, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

It should be noted that the presence of some kind of trading software is no guarantee that this is a genuine broker. Financial scammers often use rigged trading platforms to fool their victims that their money is actually being invested. However, this trading is entirely fictitious and the money goes directly into the scammers’ pockets.

Trade Sigma Trading instruments

Trade Sigma offers trading in currency pairs, stocks, commodities, indices and cryptocurrencies. As stated, we have no guarantees that this trading is real. Furthermore, brokers that are truly based in the UK are prohibited from offering trading in crypto derivatives.

Trade Sigma Spreads and cost of trading

In the trading platform we see a very low spread of 0.3 pips. Such a “raw” spread means that the broker has to charge some kind of commission. Such commissions are usually per lot traded. But Trade Sigma does not provide clear information on the price paid by the client.

Trade Sigma Maximum leverage

Trade Sigma’s different trading account types offer leverage up to 1:200. This is also evidence that this is not a UK licensed broker. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Trade Sigma Deposit and withdrawal methods

In the Trade Sigma deposit menu we see a choice between several cryptocurrencies and credit cards. But practically the only active option turns out to be Bitcoin transfer.

Scammers prefer cryptocurrencies because these transactions are not subject to refunds. While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.

Trade Sigma Minimum deposit

Trade Sigma requires a minimum deposit of 250 USD. For the same amount you could open a starter account with almost any licensed broker. Leading brands usually offer Micro and Cent accounts with an even lower entry threshold.

Trade Sigma Withdrawal requirements

The minimum withdrawal amount varies between 100 USD and 500 USD depending on the payment method used. But if the account has received a bonus, it can only withdraw after meeting the high minimum trading volume requirements – 25 times the deposit amount plus the bonus.

Regulated brokers are prohibited from offering bonuses, promotions and prize games. Scammers often use promises of supposedly generous bonuses to tie their potential victims to extortionate terms.