Independent rating of Forex broker SGT Markets

About company

SGT Markets is a forex and CFD broker that offers trading solutions that are rather difficult for institutional traders but quite simple for newbies. The company entered the market in 2006. The broker has a license and its activity is regulated by the Financial Services Commission of the British Virgin Islands. The company’s management team has wide experience in working in capital markets, including large commercial banks, major trading divisions as well as hedge funds and brokerage firms. Services and products offered by SGT Markets are not available for the US citizens. SGT Markets fully obeys the global Anti-Money Laundering Policy and other relevant international practices.

Trading conditions

SGT Markets provides its customers with over 100 currency pairs as well as metals, including gold and silver, energy, indices, and stocks. Traders can choose from two account types - SGT MT4 Direct and SGT MT4 Prime. The minimum deposit for the Direct account type is $500, whereas  for holders of a Prime account the initial deposit is $1,000. Notably, those who choose the Prime account type will have to pay a commission of $6 per lot. Traders can also open a demo or Islamic account. Clients’ funds can be denominated in USD, EUR, and GBP. On the company’s website, traders can find analytical reviews, news sections, and educational programs, which provide beginners with basic knowledge about Forex trading.

Trading platform

The broker’s customers can trade by means of the MetaTrader 4 trading platform. They can benefit from both mobile and web versions.

Support service

Traders may receive support via a callback form or an international phone number.

Deposit and withdrawal of funds

To deposit and withdraw funds, customers use credit or debit cards as well as a wire transfer and such payment systems as Skrill, Neteller, and FasaPay.

Traders’ reviews

Traders express opposite opinions on the services offered by SGT Markets. There are extremely negative comments. The company’s clients are not satisfied with the trading platform, uninformative analytics, and difficulties with withdrawal of  their funds. At the same time, there are positive comments on the Net written by clients who managed to improve their financial situation trading with SGT Markets.

Advantages:

• wide array of trading instruments
• demo account
• license

Disadvantages:

• big initial deposit
• negative reviews
• only one trading platform
• few ways to contact support service