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Sandton Capital Markets Review - is it scam or safe?

Sandton Capital Markets Review - is sandtoncapitalmarkets.com scam or good forex broker?

RATING: 2 / 0 REVIEWS Sandton Capital Markets
Sandton Capital Markets is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Minimum deposit Maximum leverage Spread
Starter  $100 1:200 Regular
Classic  $1 000 1:200 Reduced
Gold $5 000 1:200 Low
Executive  $10 000 1:200 Ultra Low

 

Sandton Capital Markets is a South African forex and CFD broker that offers the account types listed above. All of them offer solid leverage and trading in variety of assets on a browser-based web platform.

 

In the present review, you can find detailed information about this broker’s offer and regulatory status, so that you can decide for yourselves whether it is a good idea to invest with it.

 

 

Sandton Capital Markets Advantages

 

Regulated in South Africa

In our view, the strongest advantage of Sandton Capital Markets is that it is allegedly owned and operated by North Point Financial Services Pty. Ltd., a company regulated by the South African Financial Sector Conduct Authority (FSCA). The FSCA is in charge of the licensing process and oversees financial service providers, which are required to keep all client funds in segregated trust accounts in a recognized bank in South Africa. Furthermore, the regulator also keeps a public register of Authorized Financial Service Providers, so that investors can check up whether a certain broker holds a FSCA license.

 

 

Although regulation in South Africa is not among the strictest and most reputable ones (such as the one in US or Australia, for example), it provides a certain level of reliability.

Another thing worth mentioning is that Sandton Capital Markets could be related to offshore brokerage Sandton Direct.

 

Solid leverage

Clients of Sandton Capital Markets are extended solid leverage levels, up to 1:200. As this allows them to open larger positions, while not investing large sums, we consider it an advantage. Nontheless, leverage also has a dark side – the use of high levels increases significantly the risk of losses.

 

Wide range of assets

Another possible benefit of this broker is Its rich product portfolio. Clients of Sandton Capital Markets can trade in many currency pairs (FX), as well as CFDs on stocks, commodities, indices, and the two most popular cryptocurrencies (Bitcoin & Ethereum).

 

 

>> The most reliable forex brokers offering Bitcoin trades <<

 

 

Sandton Capital Markets Disadvantages

 

Spreads not specified on website, no demo accounts

Sandton Capital Markets’s website does not contain any reference spreads, which always leaves a bad impression. All decent forex brokers specify the target or average spreads on majors and CFDS as a part of their transparent pricing policy.

 

Furthermore, Sandton Capital Markets does not offer free demo accounts, so we could not test its web-based platform and see the spreads there. This is unacceptable and immediately lowers the credibility level of this broker.

 

Our experience in the trading world shows that mostly scam brokers are not eager to share with the public essential trading information such as the spreads. The reason for this is they are probably afraid some inconsistencies may show up and expose their fraudulent scheme.

 

MetaTrader 4 not supported

As we mentioned, Sandton Capital Markets offers its services on some web-based trading interface and does not support the ever popular MT4 platform. It seems that the broker has several different domains apart from sandtoncapitalmarkets.com - sandtoncm.com, and scmarkets.co.za, which offer the MT4. This is a bit odd.

 

The main advantages of the MetaTrader4 is the support for automated trading via trading bots called ExpertAdvisors (EAs), the great charting, and the programming environment, which allows for easy customization. 

 

 

>> Wanna trade with a MT4 broker? <<

 

 

Conclusion

 

Sandton Capital Markets is a South African broker licensed by the local FSCA. It allegedly offers wide range of tradeable assets with sufficient leverage, however we could not verify this claim, as there is no free testing service. This is a worrisome sign, especially in combination with the lack of information on trading costs. Do have in mind that the most reliable FSCA-licensed forex brokers are also regulated by other, more trustworthy financial governmental agencies such as UK’s FCA or Cyprus’s CySEC.

 

 

>> Top brokers legally operating in South Africa <<

 

 

Here are the highlights of the present review on Sandton Capital Markets:

 

Pros Cons
Licensed in South Africa Light-touch regulation
Solid leverage levels Spreads not specified on website, no demo accounts
A wide variety of assets MT4 not available

 

Latest news about Sandton Capital Markets
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Traders` reviews for Sandton Capital Markets

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