Sinaracorp is an unregulated broker that operates from Germany. Their website does look professional and their marketing abilities speaks for itself. Within a few months, they have managed to capture the attention of the trading community. However, they are not exactly known for being honest, reliable or transparent.
In fact, regulators are not happy with the way this firm operates and it goes without saying that they don’t even possess appropriate licenses. Anyone that deposits with them is highly likely to lose all of their funds.
To know the rotten side of this firm which the management is desperately trying to hide, you need to go through the following paragraphs. If your funds are stuck with them or any other broker, then reach out to us. We will help you retrieve your funds for free and equip you with everything you need to know about the underlying process.
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Sinaracorp Licenses and Warnings
Sinaracorp is an unregulated broker that caters to Europeans. Obviously, they are not supposed to offer their services without proper licenses and clearance. Due to the kind of activities they are involved with, many authorities are keeping an eye on them and the heat is way too much.
There are contact details featured by them, but do not expect the support team or any other employee of this firm to have your best interest in mind. Firms like this one are known to use aggressive gimmicks to fool the public and their only agenda is to make you deposit a big chunk of your savings account.
The Austrian Financial Market Authority has issued a warning against them and that alone is enough to let everyone know the real agendas of this firm. Simply put, they can and most likely will run away with all the funds whenever they want. As the security of the capital is fully compromised, you should never entertain them.
- Address – Bockenheimer Landstraße 51, 60325 Frankfurt am Main, Germany
- Phone – 4930408195790
- Email – email@example.com
Assets Offered and Leverage
This platform offers over a thousand different trading instruments. From energies, metals to stocks, the choices offered are huge. While it is good to have a lot of options, you need to be aware of the risks involved as well. Leverage and trading conditions vary from one asset class to another.
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Fees associated and trading costs are not easy to calculate beforehand. High leverage offered by them isn’t necessarily a good thing for most people.
In short, if you are determined to use this broker for any reason, then you need to figure out a lot of things before placing a trade or else you might end up blowing your account. The way the landscape exists is vague and even professional traders would have a tough time with them due to the uncertainties present.
Sinaracorp claims to support different trading platforms, but they have not listed all of the software they are associated with. In other words, no one knows whether they truly support the MT 4 or 5 interface. The default web trader is too basic and offers no support for rigorous backtesting, custom indicators, etc,.
Charts and other related factors are also nothing out of the ordinary. Experienced traders would have a really hard time navigating the markets with the tools offered by this broker and that is without doubts a dealbreaker.
Sinaracorp Funding and Withdrawal
Minimum amount required to open an account on this platform is roughly 250 EUR. There are bonuses offered by them, but due to the way conditions are structured, it is best to avoid them. Payment methods supported by them are not listed.
Processing time for deposits is not clear. Note that the processing time for withdrawals are not guaranteed by them which means they can delay the transfer of funds infinitely for no good reason.
We searched the web to see whether there are a significant number of user inputs about this platform. Unfortunately, the number of comments were not justifiable enough to reach a conclusion on its own. The exact reason for scarce user reviews and testimonies is unknown.
However, chances are in the near future, more people will come forward to share their experience. As it is impossible to bury the truth in this digital era, we just have to wait and watch to see the way things turn out.
Sinaracorp: Scam or Not?
Sinaracorp is a tweaked form of investment scam. They are operating illegally and their future is bleak as well. The policies are all twisted in their favor and nothing about their business is noteworthy. If you have already deposited your funds, then withdraw them as soon as possible.
In case your withdrawal is getting delayed, get in touch with us. Our team will help you get your capital back using legal options such as chargebacks and wire recalls.
During our investigation, we found a bunch of other brokers that look too familiar to this platform and have similar business models. We have listed the suspicious firms below.
As the finance sector grows, the number of scams around this niche is also going to explode. So, update yourself frequently and never proceed with any firm before doing background checks.
Also, do not shy away from taking guidance from professionals whenever it is required.
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