Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10
The WikiFX Score of this broker is reduced because of too many complaints!

SVSFX

United Kingdom|5-10 years|
MT4 Full License|Regional Brokers|United Kingdom Market Making(MM) Revoked|High potential risk|

https://www.svssecurities.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
SVSFX-Demo MT4
Server Location United Kingdom

Contact

+44 (0)20 3700 0106
cn.support@svsfx.com
https://www.svssecurities.com/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+44 (0)20 3700 0106

Chinese (Simplified)

4006062000

German

+44(0)20 3700 0077

Hindi

4402037000077

Broker Information

More

Company Name

SVS Securities Plc

Company Abbreviation

SVSFX

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 4
Previous Detection : 2024-06-20
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 20 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • United KingdomFCA (license number: 220929) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

SVSFX · WikiFX Survey
Danger A Visit to SVSFX in UK - No Office Found
United Kingdom

Users who viewed SVSFX also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

Exness

8.38
Score
10-15 yearsRegulated in CyprusMarket Making(MM)MT4 Full License
Official website

J.P. Morgan

7.47
Score
Above 20 yearsRegulated in Hong KongDealing in futures contractsSelf-developed
Official website

HFM

8.25
Score
10-15 yearsRegulated in CyprusMarket Making(MM)MT4 Full License
Official website
Pyramid scheme complaint
Expose
Others

Complaint:the agent of SVS cheated clients

On 21st,June,the agent of SVS told me that the stable profit was available with at least 10% per month.Then I opened an account in this platform and deposited $1000 in it.I made all loss within half a month.He induced me add fund with sweet words.I deposited another $500,the same result as last.When I argued with him,I was even blacklisted by him.I hope the platform punish this cheater and contact me to give me an explain.If you ignore it,I will continuously exposing your platform.

2019-05-28 18:38
Scam

The agent cheated clients’ money and run away

I am Yulin Sun.A net-pal added me from a chatting group.He said that he could make orders for me,with at least profit by 10% every month.He claimed that he could open the account for me directly that night.I gave him my Id and bank card information and opened an account in SVS.He helped me deposit by $1000 on-line,because of my ignorance,I nearly made all loss of $1000 within a week under his instruction.He felt so sorry to me and induced me to deposit another $500,deciding to profit double of my deposit.The same result with last time.I made all losses within a week,remaining $136.He advised me to change a platform because of high spread.With adjusting the leverage,I transferred the fund into USGFX platform.I made a loss of all within 4 days,$1510 in total,remaining $0.63.When I argued with him,he blacklisted me and run away.I could never contact him.I hope the platform address my problem seriously and let related co-operator contact me.

2018-09-17 18:37
Scam

Agent of SVS cheated clients’ money and run away

I am Yulin Sun.A net-pal added me from a chatting group.He said that he could make orders for me,with at least profit by 10% every month.He claimed that he could open the account for me directly that night.I gave him my Id and bank card information and opened an account in SVS.He helped me deposit by $1000 on-line,because of my ignorance,I nearly made all loss of $1000 within a week under his instruction.He felt so sorry to me and induced me to deposit another $500,deciding to profit double of my deposit.The same result with last time.I made all losses within a week,remaining $136.He advised me to change a platform because of high spread.With adjusting the leverage,I transferred the fund into USGFX platform.I made a loss of all within 4 days,$1510 in total,remaining $0.63.When I argued with him,he blacklisted me and run away.I could never contact him.I hope the platform address my problem seriously and let related co-operator contact me.

2019-05-28 18:38
Scam

The agent cheated clients’ money and run away

I am Yulin Sun.A net-pal added me from a chatting group.He said that he could make orders for me,with at least profit by 10% every month.He claimed that he could open the account for me directly that night.I gave him my Id and bank card information and opened an account in SVS.He helped me deposit by $1000 on-line,because of my ignorance,I nearly made all loss of $1000 within a week under his instruction.He felt so sorry to me and induced me to deposit another $500,deciding to profit double of my deposit.The same result with last time.I made all losses within a week,remaining $136.He advised me to change a platform because of high spread.With adjusting the leverage,I transferred the fund into USGFX platform.I made a loss of all within 4 days,$1510 in total,remaining $0.63.When I argued with him,he blacklisted me and run away.I could never contact him.I hope the platform address my problem seriously and let related co-operator contact me.

2018-09-19 21:51
Scam

After defrauding clients' fund,the agent run away.

I am Yulin Sun.A net-pal added me from a chatting group.He said that he could make orders for me,with at least profit by 10% every month.He claimed that he could open the account for me directly that night.I gave him my Id and bank card information and opened an account in SVS.He helped me deposit by $1000 on-line,because of my ignorance,I nearly made all loss of $1000 within a week under his instruction.He felt so sorry to me and induced me to deposit another $500,deciding to profit double of my deposit.The same result with last time.I made all losses within a week,remaining $136.He advised me to change a platform because of high spread.With adjusting the leverage,I transferred the fund into USGFX platform.I made a loss of all within 4 days,$1510 in total,remaining $0.63.When I argued with him,he blacklisted me and run away.I could never contact him.I hope the platform address my problem seriously and let related co-operator contact me.

2018-10-02 21:20
Unable to Withdraw

The profits of 61900 is prevented from withdrawing by svsfx

On August 6th I found that it was easy to pay back from svsfx. The spread was relatively low, so I increased the number of transactions. There were more than 30,000 US dollars in the account. Each time I made orders of 10 hands, 20 hands and 30 hands. With risking of suffering a forced liquidation, I traded more than 6,000 lots in two days. But I only gained a profit of $ 1,856 in the end. I logged in my agent account 18115049, where the commissions were displayed normally. So I transferred the money to two normal trading accounts, and $4,1200 was transferred to the trading account. At this time, there were still $20,700 in the agent account, so I applied for withdrawing $20,700 from the agent account. But the request was rejected. Later, svsfx’ staff called and said that there was something wrong with the system and I could not withdraw money. I have communicated with them for a long time, but they said that there are some problems in the system upgradation, so the money cannot be withdrawn. The money transferred from the agent account to the trading account must also be returned. If I disagreed, the deposit couldn’t be withdrawn. So, I had to agree , hoping to take the deposit back. In the end, $6,1900 in the agent account transferred to the trading account is canceled, and the remaining money in the agent account is also unable to withdraw. When I lost, the platform allows me to withdraw nothing; when I gain profits, the customer service personnel will call and said that the platform system is a problem so that the money can’t be withdrawn. If you trade on svsfx, please stop doing so. The official website: http://svsmarkets.com /zh/

2019-04-19 23:30

    SVSFX · Company Summary

    Aspect Information
    Company Name SVSFX
    Registered Country/Area London, UK
    Founded year 2003
    Regulation Revoked by FCA
    Market Instruments FX, CFDs
    Account Types Professional, Standard
    Minimum Deposit 500 USD
    Maximum Leverage 400:1
    Spreads EURUSD/0.6-0.8
    Trading Platforms MT4 (Desktop, Web, Mobile)
    Customer Support Phone +44 (0)20 3700 0106cn.support@svsfx.comsupport@svsfx.comhelp@svsfx.comi.support@svsfx.com
    Deposit & Withdrawal Credit/Debit Cards, e-wallets, bank transfers

    Overview of SVSFX

    SVSFX, established in 2003 and based in London, UK, operates as an online broker supporting FX and CFDs trading for retail and institutional clients.

    Despite its long-standing presence, the brokerage faces notable drawbacks. While offering a range of trading assets including currency pairs and CFDs, its regulatory status is risky, particularly after the revocation of regulation by the FCA. Traders may find limited regulatory oversight unsettling, impacting their confidence in the platform. Additionally, accessibility issues with the official website hinder user experience, potentially frustrating traders seeking efficient and reliable trading services.

    Overview of SVSFX

    Is SVSFX Legit or a Scam?

    The revocation of SVSFX's regulation by the FCA, the Financial Conduct Authority, marks a significant shift in the regulatory landscape for traders on the platform.

    The FCA's revocation of SVSFX's license implies that the brokerage no longer operates under the stringent oversight and regulatory framework set forth by one of the most reputable financial regulatory bodies globally. As a result, traders face increased risk exposure due to the absence of regulatory protections and oversight mechanisms.

    Is SVSFX Legit or a Scam?

    Pros and Cons

    Pros Cons
    Wide range of market instruments including currency pairs, CFDs covering global indices, commodities, energy products, and precious metals Negative exposure, including pyramid scheme complaints and scam allegations
    Access to the popular MT4 trading platform via desktop, web, and mobile apps Official website inaccessible
    Limited contact options and potentially confusing hotline numbers for customer support
    Additional deposit and withdrawal fees for certain payment methods
    Revoke the regulation by the FCA

    Pros:

    • Wide range of market instruments: SVSFX offers traders a wide selection of trading instruments, including various currency pairs, global indices, commodities, energy products, and precious metals.

    • Access to the popular MT4 trading platform: Traders using SVSFX have access to the MetaTrader 4 (MT4) platform, which is widely regarded as one of the most popular and user-friendly trading platforms in the industry.

    Cons:

    • Negative exposure: SVSFX has faced negative exposure due to pyramid scheme complaints and scam allegations.

    • Official website inaccessible: The accessibility issues with SVSFX's official website can pose significant challenges for traders, especially when trying to access important account information, execute trades, or seek assistance from customer support.

    • Limited contact options and confusing hotline numbers: SVSFX's customer support suffers from limited contact options and potentially confusing hotline numbers, making it difficult for traders to reach out for assistance when needed.

    • Additional deposit and withdrawal fees: Traders using certain payment methods may incur additional deposit and withdrawal fees when using SVSFX.

    • Revocation of FCA regulation: The revocation of SVSFX's regulation by the FCA (Financial Conduct Authority) raises risks about the platform's adherence to regulatory standards and investor protection measures.

    Market Instruments

    SVSFX offers a wide array of trading assets, featuring currency pairs encompassing major, minor, and exotic options, exceeding 50 pairs. Recent enhancements have further enriched this selection.

    Additionally, traders can access CFDs covering global indices, commodities, energy products, and precious metals.

    Account Types

    The Professional account is tailored for experienced traders and institutional investors seeking advanced trading features. With a maximum leverage of 200:1, it offers significant trading flexibility. The minimum deposit requirement of 10,000 USD reflects a commitment to accommodating high-volume traders who require substantial capital. Additionally, the tighter spreads on currency pairs like EURUSD and commodities like Gold, ranging from 0.6 to 2.0 pips, contribute to cost-effective trading.

    On the other hand, the Standard account is suitable for a broader audience, including retail traders and those new to the market. With a maximum leverage of 400:1, it offers ample trading opportunities while requiring a more modest minimum deposit of 500 USD, making it accessible to a wider range of users. Although the spreads are slightly wider compared to the Professional account, ranging from 1.8 to 4.0 pips on EURUSD and Gold, respectively, this account type still provides access to popular trading instruments such as foreign exchange, precious metals, and CFDs.

    Professional account Standard account
    Maximum Leverage 200:1 400:1
    Minimum Deposit 10,000 USD 500 USD
    Minimum Spread EURUSD/0.6-0.8 Gold/2.0 EURUSD/1.8 Gold/4.0
    Products Foreign exchange, precious metals,CFDs Foreign exchange, precious metals,CFDs
    Minimum Position 0.01 lot 0.01 lot
    Account Types

    Leverage

    SVSFX offers varying maximum leverage depending on the account type chosen.

    For the Professional account, the maximum leverage stands at 200:1, providing experienced traders and institutional investors with substantial trading flexibility.

    On the other hand, the Standard account offers a higher maximum leverage of 400:1, making it accessible to a broader range of users, including retail traders and newcomers to the market.

    Spreads & Commissions

    SVSFX offers competitive spreads and commissions across its different account types.

    For the Professional account, spreads are notably tighter, with EURUSD spreads ranging from 0.6 to 0.8 pips and Gold spreads at 2.0 pips.

    Conversely, the Standard account features slightly wider spreads, with EURUSD spreads ranging from 1.8 to 4.0 pips and Gold spreads at 4.0 pips. However, this account type compensates for the wider spreads by offering commission-free trading.

    Trading Platform

    SVSFX offers traders the worlds most popular trading platform – MT4, available through desktop, web and mobile apps.

    Deposit & Withdrawal

    Payment methods offered by SVSFX enclose Credit/Debit Cards (MasterCard, Visa, Maestro, Visa Electron), as well as popular e-wallets Skrill, Neteller and of course bank transfers are the option too.

    There are some additional deposit and withdrawal fees. For instance, deposit by Credit Card will add 2% above or by Neteller – 4.4%. For the withdrawing way through Neteller will require an additional 2 % and 20% through Credit Card.

    Customer Support

    SVSFX's customer support appears inadequate with limited contact options and potentially confusing hotline numbers. The English support number, +44 (0)20 3700 0106, lacks toll-free options, potentially dissuading users. Similarly, the Chinese (Simplified) and German hotline, +44 (0)20 3700 0077, might confuse non-native speakers. While contact details for Hindi speakers are available at 4402037000077, the absence of dedicated toll-free numbers for various languages could inconvenience non-English speakers.

    Though email addresses likecn.support@svsfx.com and support@svsfx.comoffer alternative communication channels, the lack of live chat or localized support offices could delay assistance, especially for urgent issues.

    Customer Support

    Exposure

    SVSFX has garnered negative exposure, including pyramid scheme complaints, scam allegations, and instances of users being unable to withdraw funds.

    These incidents, documented over several years, indicate a pattern of dissatisfaction among users. Complaints range from agents misleading clients and subsequently disappearing to platform shutdowns and bankruptcy declarations. Such experiences can significantly impact traders' trust and confidence in SVSFX, potentially deterring new users from joining and prompting existing ones to seek alternative platforms. The accumulation of negative feedback suggests underlying issues within SVSFX's operations and customer service, highlighting the importance of transparency and accountability in the brokerage industry to maintain user trust and loyalty.

    Exposure

    Conclusion

    SVSFX, while offering a range of trading assets and account types, faces significant drawbacks. The revocation of its FCA regulation raises risks about its adherence to regulatory standards, potentially unsettling traders.

    Limited customer support options and potentially confusing hotline numbers further diminish the platform's appeal, hindering traders' ability to seek assistance when needed. Additionally, the presence of additional deposit and withdrawal fees may deter users seeking cost-effective trading solutions.

    FAQs

    Q: What is the minimum deposit required to open an account with SVSFX?

    A: The minimum deposit for a Professional account is 10,000 USD, while for a Standard account, it's 500 USD.

    Q: What is the maximum leverage offered by SVSFX?

    A: SVSFX offers a maximum leverage of 200:1 for Professional accounts and 400:1 for Standard accounts.

    Q: What trading instruments are available on SVSFX?

    A: SVSFX provides access to FX (foreign exchange) and CFDs (contracts for difference), including currency pairs, global indices, commodities, energy products, and precious metals.

    Q: What trading platform does SVSFX offer?

    A: SVSFX offers the popular MetaTrader 4 (MT4) trading platform, accessible via desktop, web, and mobile applications.

    News

    SVS Saga Ends as the Collapsed Broker Enters Dissolution

    NewsSVS Saga Ends as the Collapsed Broker Enters Dissolution

    2023-04-03 12:23

    SVS Securities' special administration is ending, with all client funds and custody assets returned except for 8 clients. The cost of restoring assets is to be covered by clients, with a £44.5m cost cushion established. FSCS reimbursement covered most costs. There were not enough realizations to pay a dividend to insolvent or preferred debtors. No further action is necessary for clients.

    WikiFX
    2023-04-03 12:23
    News
    SVS Saga Ends as the Collapsed Broker Enters Dissolution
    Special Administration Case Of SVS Securities Against The UK Watchdog FCA

    NewsSpecial Administration Case Of SVS Securities Against The UK Watchdog FCA

    2023-02-07 15:14

    SVS Securities' joint special administrators are seeking to withdraw the broker's authorization with the FCA, the United Kingdom's financial market regulator (Financial Conduct Authority). It will prevent the broker from engaging in regulated operations.

    WikiFX
    2023-02-07 15:14
    News
    Special Administration Case Of SVS Securities Against The UK Watchdog FCA
    WikiFX: WHAT TO DO IF SCAMMED

    NewsWikiFX: WHAT TO DO IF SCAMMED

    2021-08-27 12:08

    WikiFX discovered that scammers use the complexity of the foreign exchange market to maliciously hide important information about market reality from unsuspecting novice victims, claiming that their plans, information or software robots will bring success.

    WikiFX
    2021-08-27 12:08
    News
    WikiFX: WHAT TO DO IF SCAMMED

    User Reviews

    Sort by content

    • Sort by content
    • Sort by time

    User comment

    2

    Comments

    Write a review

    56673
    more than one year
    They haven’t paid my money back until now!! Why suddenly go out of business and run away? Damn it! So many scammers now... my money can't be returned... ssssso sad...
    2023-02-13 14:13
    Reply
    0
    0
    陳王馬杰
    more than one year
    It seems that the website of this company is already shut down...although it has a quite reliable regulation license! and a dozen of people on wikifx exposed that this company SVSFX is a scammer, so stay away!
    2022-12-20 11:43
    Reply
    0
    0
    20
    TOP

    Chrome

    Chrome extension

    Global Forex Broker Regulatory Inquiry

    Browse the forex broker websites and identify the legit and fraud brokers accurately

    Install Now

    Select Country/Region
    • Hong Kong China

    • Taiwan

      tw.wikifx.com

    • United States

      us.wikifx.com

    • South Korea

      kr.wikifx.com

    • United Kingdom

      uk.wikifx.com

    • Japan

      jp.wikifx.com

    • Indonesia

      id.wikifx.com

    • Vietnam

      vn.wikifx.com

    • Australia

      au.wikifx.com

    • Singapore

      sg.wikifx.com

    • Thailand

      th.wikifx.com

    • Cyprus

      cy.wikifx.com

    • Germany

      de.wikifx.com

    • Russia

      ru.wikifx.com

    • Philippines

      ph.wikifx.com

    • New Zealand

      nz.wikifx.com

    • Ukraine

      ua.wikifx.com

    • India

      in.wikifx.com

    • France

      fr.wikifx.com

    • Spain

      es.wikifx.com

    • Portugal

      pt.wikifx.com

    • Malaysia

      my.wikifx.com

    • Nigeria

      ng.wikifx.com

    • Cambodia

      kh.wikifx.com

    • Italy

      it.wikifx.com

    • South Africa

      za.wikifx.com

    • Turkey

      tr.wikifx.com

    • Netherlands

      nl.wikifx.com

    • United Arab Emirates

      ae.wikifx.com

    • Colombia

      co.wikifx.com

    • Argentina

      ar.wikifx.com

    • Belarus

      by.wikifx.com

    • Ecuador

      ec.wikifx.com

    • Egypt

      eg.wikifx.com

    • Kazakhstan

      kz.wikifx.com

    • Morocco

      ma.wikifx.com

    • Mexico

      mx.wikifx.com

    • Peru

      pe.wikifx.com

    • Pakistan

      pk.wikifx.com

    • Tunisia

      tn.wikifx.com

    • Venezuela

      ve.wikifx.com

    United States
    ※ The content of this website abides with local laws and regulations.
    You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
    consumer hotline:006531290538
    Official Email:support@wikifx.com;
    Mobile Phone Number:234 706 777 7762;61 449895363
    Telegram:+60 103342306
    Whatsapp:+852-6613 1970;
    License or other information error corrections, please send the information to:qawikifx@gmail.com
    Cooperation:fxeyevip@gmail.com