SGT Markets Review (2023)
Is SGT Markets a scam or legit broker?
No, it is not safe to trade with SGT Markets. Sterling Gent Trading Ltd. is authorized and regulated Forex Broker by the Financial Services Commission in the British Virgin Islands. The BVI FSC is known for its light-touch regulation and very loose requirements that brokers do not try to comply with. Although the firm is licensed, BVI regulation is not enough to provide the financial services in, for example, the UK.
SGT Markets is a broker that specializes in providing liquidity and trade execution services to the Forex (FX) and CFD (Contracts for Difference) markets including Metals, Oil, and Equity Indices.
About SGT Markets
| 🗺️ Registered in | British Virgin Islands |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is SGT Markets safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | GO Markets - licensed by ASIC in Australia |
Despite the broker’s assertions to be incorporated in the British Virgin Islands, their website still states the correspondence address in Bermuda, another offshore zone.
In addition, all the provided contact phone numbers are British, however, SGT Markets doesn’t have any branches in the UK and is not licensed there.
Conclusion
We advise all investors and traders to avoid SGT Markets and other brokers from the British Virgin Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as HotForex and BlackBull Markets.