General Information
Soyam Trade Limited is a newly-established forex brokerage firm, allegedly offering its clients access to multiple financial markets, such as Foreign Exchange, Nobel Metal, Futures, Cryptocurrency through the leading MT5 trading platform, with leverage up to 1:400.
As far as we can tell, Soyam is not governed by any regulatory authorities, thus that bit of data is settled. As a result, its regulatory status on WikiFX is classified as “No License” and it only manages a score of 1.15 out of 10 overall. Don't be oblivious to the potential danger.
Market Instruments
With the Soyam platform, a total of four classes of trading assets are available, which include the following:
Foreign Exchange
Precious Metals
Futures
Cryptocurrency
Account Opening
According to Soyam, one clients can register up to one trading account. To open an account, you can visit this brokers official website through the Internet, click to register a real account, fill in some required personal data to complete the registration of the transaction account.
A demo account is also available, which allows beginners to get a feel of this brokerage house without risking their real money.
Leverage
When it comes to trading leverage, Soyam allows traders to use leverage of up to 1:400, which is much above the levels considered appropriate by the vast majority of regulators. Offering high leverage is a typical tactic for offshore businesses, and the only reason this brokerage does is to attract clients.
Spreads & Commissions
As for this part, Soyam is keeping its commission and spread information from us.
Trading Platform
Soyam offers the leading MT5 trading platform, among the most popular around the world. Some outstanding features shared by MT4 include the robust charting package, the ability to use automated trading bots (Expert Advisors), and the flexibility of the interface.
Deposit & Withdrawal
Soyam is vague about what payment methods it supports for clients to make a deposit and withdrawal.Soyam says it supports all banks for clients to make a deposit, and the daily capital limit is subject to the amount specified by your bank.
If you want to withdraw funds, you need to contact the platform broker it varies depending on the investors bank when it comes to capital injection into the account, appromxiately one to five working days.
Customer Support
Traders with any inquiries or trading-related problems can get in touch with Soyam through the following channels:
Email: service@soyam-fx.com
A Contact Form
However, some other more direct contact methods like phone call, online communication are not available.
Risk Warning
There is a considerable degree of risk involved with online trading of leveraged Forex and CFD instruments, and as a result, it may not be appropriate for all investors.
Please keep in mind that the data presented in this article is meant to serve as a guideline only.
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