General Information & Regulation
Safe Gold FX (SGFX) is a forex and CFD broker, operated by Safe Gold International (Belize) Limited, a company licensed by the Belizes International Financial Services Commission (IFSC) for offering trading in securities services. However, this license has been revoked, so SGFX is unregulated at this stage.
Markets Instruments
With SGFX, traders can get access to forex currency pairs, commodities, and metals. Trading assets offered by this broker seems average.
Minimum Deposit
SGFX offers all investors one standard accounts, with the minimum initial deposit is $100. Although this amount seems reasonable, it is unsafe to open accounts on this platform given the fact that SGFX is unregulated.
Leverage
In terms of trading leverage, the maximum leverage level offered by SGFX is up to 1:100. Professional traders may think this level conservative. However, inexperienced traders should not use too high leverage when dealing with forex trading.
Spreads & Commissions
SGFXs spreads on EUR/USD are fixed at 5 pips, and, on top of that, a commission of $50 per standard lot applies. This makes it the broker with the highest trading costs we have encountered so far. If you are foolish enough to become a client of SGFX, you will pay 10 pips per each standard lot traded, which is at least $100.
Trading Platform Available
When it comes to trading platform available, SGFX offers its clients the MetaTrader 4 (MT4), available as desktop download and mobile apps.MT4 platform is equipped with solid charting tools, many built-in indicators, a wide range of Expert Advisors (EAs) and extensive back-testing environment. Apart from the ready-made Eas and indicators, traders can create their own in the MQL programming language
Deposit& Withdrawal
SGFX clients are offered only bank wire transfer as a payment method. While some popular e-wallets methods like Skrill and Neteller are not available. There is no further information about deposit and withdrawal on its website.
2023-02-17 15:52
2023-02-16 10:27
