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Influence index NO.1
No valid regulatory information, please be aware of the risk!
+65 6535 7511
Singapore Exchange Limited
Pyramid scheme complaint
Scam. Someone I met on dating web and ask me to play gold and foreign exchange platform with him
The fraud cheated me into investing forex under the name of a relationship. But I am unable ro to withdraw after profiting. The so-called customer service delayed my withdrawal for system error. And she said I could withdraw funds immediately after upgrading to golden member. Then the fraud persuaded me to upgrade. But I was asked to pay 20% individual income tax for internal trading. I don’t want to pay the money. However, the fraud said I profited too much and asked me to pay. The customer service promised that I could withdraw 100,000 everyday since May 1. But I can’t. The customer service continued asking me to pay penalty on grounds of abnormal account. I refused. Then she said my funds would be frozen and this matter would be handled to the headquarters. After that, the fraud and customer service disappeared at the same time.
If the stored value does not reach the estimated stored value during the event, the account will be frozen. Now I can only contact the online customer, but I can’t contact the customer service. Now the loan investment is all GG
Under the banner of love, he lured me to the so-called Singapore Exchange to invest in foreign exchange, refused to withdraw cash, found a bunch of excuses to ask you to pay money, finished running away
after profiting, unable to withdraw, the cust services keep telling me to recharge my account and upgrade membership to be able to withdraw
I met a marriage partner on the Internet, added WeChat for the purpose of getting married, said that he works for the Singapore Exchange, the fifth exchange in Asia Then, he asked me to download a foreign software to facilitate voice communication. Later, he said he was in a company that had inside information about foreign exchange trading and asked me to help him purchase foreign exchange. At first, I was afraid that he was laundering money and lied to me. I asked him to show me his ID card to prove that he did not commit any illegal activities. Later, I was induced to buy foreign exchange. I don’t want that. He said that he deposited 1,000 yuan for me, so that I could make money and then think about it. I helped him to operate more than 3 million forex within that week. Because I couldn’t believe him, so we quarreled several times during this period. He said he work there, saying that he came from a military family, so he dispelled my worries. In the end, I was afraid so I tried to top up 10,000 yuan, and successfully withdrew 3,000 yuan, and then recharged 5,000 yuan. I was still worried in my heart. When I tried to withdraw later, it was stuck. The application for withdrawal was successful, but it could not arrive the account. The customer service said that I had to recharge the gold member. I checked some news on the Internet and didn’t dare to recharge anymore. I wanted to expose their behavior. The so-called fairness, insider, should be to induce me to place an order to buy foreign exchange, and even in the middle he even tricked me into loan recharge. Finally, his account was successfully withdrawn with a profit of more than 4 million. I begged him to recharge my account as a member and withdraw the money. He would not reply to the message.
I invested $50k worth of usdt and he sent $140k of usdt. We doubled it within 2 weeks . It allowed me to transfer out $800 but when I tried to withdraw $30000, It stated that I needed to pay half my principal ( almost $200k) he insisted on saying that he’ll find the money to put in so we could get our money back , only to try to manipulate me to put in more. Also the app started glitching at some point of our trading and he sent me a new website.
I just made two withdrawal before. The remaining balance cannot be withdrawn. They encourage me to deposit and become a member. I am afaid that more fund will be stuck in the platform and cannot withdraw.
Trading online involves significant risks and you could lose all of your invested capital. It is not suitable for all traders or investors. Please ensure you understand the risks involved and note that the information contained in this article is for general information only.
|Founded year||2-5 years ago (specific founding year not mentioned)|
|Company Name||Singapore Exchange Limited|
|Regulation||Not subject to valid regulation at the moment|
|Minimum Deposit||10 shares|
|Maximum Leverage||Up to 7x (with Daily Leverage Certificates)|
|Spreads||Securities: 0.005%-0.05%; Derivatives: 0.001%-0.05%|
|Trading Platforms||SGX Mobile App, Securities Investor Portal (CDP), SGXNet, and more (multiple platforms)|
|Tradable assets||Stocks, REITs, ETFs, Structured Warrants, DLCs, Equity Index, FX & Rates, Commodities|
|Account Types||Individual Account, Joint-Alternate Account|
|Demo Account||Not mentioned|
|Islamic Account||Not mentioned|
|Customer Support||Phone: +65 6535 7511, Email: askSGX@SGX.com, Social media presence (WeChat, Telegram, Twitter, Facebook, YouTube, LinkedIn), Multiple office locations|
|Payment Methods||Bank transfer, cheque, PayNow|
|Educational Tools||Insights, real-time price feeds, delayed price feeds, news and corporate actions, post-trade data feeds, data services for listed companies, reference data feeds, historical data, “In Focus” section (market updates)|
SGX, full name Singapore Exchange Limited , is a multi-asset broker registered in Singapore, providing securities and derivatives trading, as well as one-stop integrated services such as listing, trading, clearing, settlement, depository and data. These products are subject to market fluctuations, and their values and trading volumes change over time. SGX also offers leverage through Daily Leverage Certificates (DLCs) and charges spreads and commissions on securities and derivatives trades.
SGX offers different account types, including individual and joint-alternate accounts, and allows for online deposits and withdrawals with associated fees. They provide multiple trading platforms and educational tools to assist users in accessing market information. Customer support is available through various channels, but there have been user reviews highlighting concerns related to fund withdrawals, reliability, and potential fraudulent activities.
Here is the homepage of the brokers official website:
As for the regulatory situation, no effective regulatory information has been found so far. that's why SGX The supervision status on wikifx is listed as “Not yet supervised” and only received a low score of 1.41/10.
NOTE: Screenshot dated January 10, 2023. WikiFX is a dynamic score, which will track the dynamic real-time score of traders. The score captured at the current time does not represent the past and future scores.
SGX, or Singapore Exchange Limited, offers a diverse range of investment products and provides up to 7x leverage with SGX DLCs. It also boasts low spreads and commissions, along with access to insights and real-time data. However, it faces challenges such as a lack of valid regulation, the absence of popular trading platforms like MT4, the potential for additional fees, and concerns related to mixed customer reviews and support.
|Diverse range of investment products||Lack of valid regulation|
|Up to 7x leverage with SGX DLCs||No popular trading platforms available, such as MT4|
|Low spreads and commissions||Additional fees may apply|
|Multiple trading and data platforms||Potential complexity and learning curve|
|Access to insights and real-time data||Mixed reviews and customer support concerns|
Stocks: SGX features various stocks, including DBS, UOB, OCBC Bank, SIA, and Singtel, among others. These stocks are actively traded, with fluctuating values and trading volumes. For instance, DBS has a current value of 33.230 with a trading volume of 996.5K.
REITs (Real Estate Investment Trusts): SGX hosts REITs like CapLand IntCom T, CapLand Ascendas REIT, Mapletree Log Tr, Suntec Reit, and Keppel DC Reit. These REITs represent diverse real estate portfolios and exhibit changes in their unit prices and trading volumes. For example, CapLand IntCom T is valued at 1.830 with a trading volume of 6,976.7K.
ETFs (Exchange-Traded Funds): SGX offers ETFs like Lion-OCBC Sec HSTECH S$, STI ETF, LION-PHILLIP S-REIT, and NikkoAM-STC Asia REIT. These funds track various indices and commodities, with their unit prices and trading volumes subject to market dynamics. For instance, Lion-OCBC Sec HSTECH S$ is priced at 0.654 with a trading volume of 1,241.8K.
Structured Warrants: SGX also facilitates trading in structured warrants such as HSI 19000MBeCW231129 and HSI 18600MBeCW231030. These warrants can provide leverage and are characterized by changing prices and trading volumes. For instance, HSI 19000MBeCW231129 is valued at 0.063 with a trading volume of 12,170.0K.
Indices: SGX provides a range of indices for tracking market performance. The Straits Times Index (STI), for instance, is a capitalization-weighted index that monitors the top 30 companies listed on SGX. Additionally, indices like the iEdge-UOB APAC Yield Focus Green REIT Index, FTSE ST Consumer Goods & Services Index, iEdge SG All Healthcare Index, and iEdge S-REIT Leaders Index SGD are also available.
Stocks: SGX offers a selection of individual stocks for trading, including DBS, UOB, OCBC Bank, Singtel, and SIA. These stocks are subject to market fluctuations, with their respective prices updated regularly.
REITs (Real Estate Investment Trusts): SGX hosts various REITs, such as CapLand IntCom T, CapLand Ascendas REIT, Mapletree Log Tr, and Suntec Reit. These REITs represent diverse real estate portfolios, and their unit prices can change based on market conditions.
ETFs (Exchange-Traded Funds): SGX provides ETFs like Lion-OCBC Sec HSTECH S$, STI ETF, LION-PHILLIP S-REIT, NikkoAM-STC Asia REIT, and Nikko AM STI ETF. These funds track different indices and commodities, offering investors a way to diversify their portfolios.
Structured Warrants (SWs): SGX features structured warrants like HSI 19000MBeCW231129 and HSI 18600MBeCW231030. These warrants may provide leverage and can experience changes in their prices over time.
DLCs (Daily Leverage Certificates): SGX offers DLCs like HSTECH 5xLongSG240424, Alibaba 5xLongSG250904, and Tencent 5xLongSG231220. These certificates aim to provide amplified exposure to underlying assets and may exhibit price fluctuations.
Equity Index: SGX offers equity index futures, including the FTSE China A50 Index Futures Oct 23 and Nikkei 225 Index Futures Dec 23, which allow investors to speculate on the future direction of these indices.
FX & Rates: SGX provides futures contracts related to foreign exchange rates, such as INR/USD Futures Oct 23, USD/CNH Futures Dec 23, KRW/USD Futures Oct 23, and USD/SGD Futures Dec 23.
Commodities: SGX offers futures contracts related to commodities like TSI Iron Ore CFR China (62% Fines) Futures Oct 23, TSI FOB AUS Premium Coking Coal Futures Oct 23, TSR20 Rubber Futures Dec 23, and USEP Monthly Base Load Electricity Futures Sep 23, catering to investors interested in commodities trading.
|Diverse range of market instruments, including indices, stocks, REITs, ETFs, structured warrants, DLCs, equity index futures, FX & rates, and commodities||Potential market fluctuations affecting investments|
|Opportunity to diversify portfolios with various asset classes||Lack of specific mention regarding regulatory oversight|
|Access to speculation on future market directions||Market-dependent price changes may pose risks for investors|
Individual Account: This account type is for individuals who are at least 18 years old and not undischarged bankrupts.
Joint-Alternate Account: This account type is for two individuals who want to jointly manage an account. Either individual can give instructions to CDP, the depository for SGX securities.
SGX Daily Leverage Certificates (DLCs) offer leverage of up to 7x on major Asian indices. This means that investors can gain exposure to the price movement of an index with a fraction of the capital required to buy the underlying shares.
SGX Securities and Derivatives have spreads and commissions of 0.005%-0.05% and 0.001%-0.05% respectively. For example, a securities trade of S$10,000 would have a spread of S$0.50-S$5.00 and a commission of S$5.00-S$50.00. A derivatives trade of S$10,000 would have a spread of S$0.10-S$5.00 and a commission of S$0.10-S$5.00. Additional fees, such as clearing fees and regulatory fees, may apply.
SGX Securities and Derivatives can be deposited into or withdrawn from your CDP account online through the CDP website or mobile app. The minimum deposit amount is 10 shares. There is a withdrawal fee of S$10 per withdrawal. The following payment methods are accepted for deposits and withdrawals: bank transfer, cheque, and PayNow. For example, to deposit 100 shares of LSS into your CDP account via bank transfer, you would need to pay a deposit fee of $10. To withdraw 100 shares of LSS from your CDP account via PayNow, you would also need to pay a withdrawal fee of S$10. Processing times for deposits and withdrawals may vary depending on the payment method used.
|Online deposit and withdrawal options||Withdrawal fee of S$10 per withdrawal|
|Minimum deposit amount of 10 shares||Limited payment methods (bank transfer, cheque, PayNow)|
|Processing times may vary by method|
SGX Mobile App: This mobile app provides live market updates for easy access to market information.
Securities Investor Portal (CDP): A user-friendly portal offering access to CDP Internet and educational tools, supporting individual investors in their decision-making.
SGXNet: A secure platform for listed issuers to upload corporate announcements and requests.
REACH-ST: The securities trading engine that provides high-speed and reliable access for trading members.
NPTS: The securities settlement and depository system.
SGX Bond Pro: An institution-only electronic bond trading platform connecting buyers and sellers of Asian bonds, offering multiple trading protocols.
Titan OTC: An over-the-counter (OTC) trade registration platform across various asset classes.
Titan Platforms: An integrated trading, trade registration, and clearing platform for derivatives products.
SGX Data Direct: A one-stop online platform for interactions with SGX related to Market Data services.
Exchange Notes: Provides access to a comprehensive history of datasets for subscribing SGX-ST members.
Members Portal: A web platform for participants to submit applications for SGX Memberships to SGX RegCo.
RegCo Submission: A web platform for issuers or their professional advisors to submit regulatory applications to SGX RegCo.
Data Submission: A web platform for trading or clearing members to securely submit regulatory files to SGX RegCo.
|Diverse range of trading platforms for various needs||Potential complexity and learning curve|
|User-friendly interface with educational tools on Securities Investor Portal (CDP)||Absence of popular trading platforms like MT4|
|Access to live market updates and comprehensive datasets on SGX Mobile App and others||Limited information on the ease of use and reliability of platforms|
Tel: +65 6535 7511;
Email: ask SGX @ SGX .com;
Social Media: WeChat, Telegram, Twitter, Facebook, YouTube and LinkedIn;
2 shenton way, #02-02 SGX centre 1 singapore 068804；
Unit 09-12, Level 33, China World Trade Centre, Tower A No. 1 Jian Guo Men Wai Avenue, Chaoyang District Beijing 100004, China;
155 North Wacker Drive, Suite 4250 Chicago, IL 60606, USA；
Unit 12B, 12/F No. 33 Des Voeux Road Central Hong Kong；
38 St Mary Axe London EC3A 8BH；
9th Floor Platina (Regus) G Block, Bandra Kurla Complex, Bandra (East) Mumbai – 400 051, India.
SGX offers educational tools and resources that include insights and information. Their “In Focus” section provides updates on topics such as SGX Group's financial performance, listings, and market trends. Additionally, they offer real-time price feeds, delayed price feeds, news and corporate actions, post-trade data feeds, data services for listed companies, reference data feeds, and historical data to help users access relevant market information and stay informed.
Reviews of SGX on WikiFX highlight various concerns and issues. Some users reported difficulties with withdrawing funds, citing frozen accounts and unresponsive customer service. Others mentioned being lured into investments under false pretenses and encountering obstacles when trying to withdraw profits. There are also instances of users alleging scams and fraudulent activities, where they were persuaded to deposit more money with promises of high returns but faced challenges when attempting to withdraw their funds. Additionally, there are recent exposures related to withdrawal issues and reliability concerns. These reviews suggest a range of problems and challenges faced by users of SGX.
In conclusion, SGX, or Singapore Exchange Limited, presents both advantages and disadvantages. On the positive side, SGX offers a variety of products and services, including stocks, REITs, ETFs, structured warrants, and more, providing investors with options for diversification. Additionally, the availability of leverage through SGX Daily Leverage Certificates can potentially enhance investment opportunities. However, it's crucial to exercise caution and be aware of the associated risks, as SGX is not currently subject to valid regulation. Reviews and complaints on platforms like WikiFX have raised concerns about difficulties with fund withdrawals, unresponsive customer service, and potential scams, underscoring the need for vigilance and due diligence when considering SGX as a trading platform.
|Q 1:||SGXIs it regulated？|
|A 1:||No valid regulatory information has been found so far.|
|Q 2:||SGXIs it friendly to newbies？|
|A 2:||It is not recommended for anyone to trade with unregulated or opaque brokers.|
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