SigmaCFD Review (2023)

Is SigmaCFD a scam or a legit broker?

SigmaCFD is 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade SigmaCFD. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk.

SigmaCFD is a Forex and CFD broker, owned and operated by Sigma CFD Ltd., with the registered main office in the Marshall Islands. The website also provides the addresses of the headquarters in Monaco and secondary branch in the United Kingdom. Although, the company is not authorized to provide its financial services in the mentioned countries.
Offshore registration has more disadvantages for the trades and more advantages for the broker itself. The traders risk their funds when choosing to invest with the offshore firm as the brokers registered offshore are not licensed, nor supervised by any authority. It means that there is no protection of the funds and a very high risk to be scammed.
As to the SigmaCFD, the broker has also been blacklisted by Italy’s regulator CONSOB:
“the National Commission for Companies and the Stock Exchange has ordered the following company to cease the infringement of art. 18 of the same Decree consisting of the provision of unauthorized investment services and activities to the Italian public: Sigma Cfd Ltd., through the website www.sigmacfd.com”

Conclusion

We advise all investors and traders to avoid SigmaCFD and other unregulated brokers. The lack of information about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and HotForex.