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Sfam-FX Review - is it scam or safe?

Sfam-FX Review - is sfam-fx.eu scam or good forex broker?

RATING: 2.6 / 0 REVIEWS Sfam-FX
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Trading Accounts & Conditions

 

Account type Minimum deposit Min.trade size Maximum leverage Spread (& Commission)
Standard $100 0.01 1:200 0.5 pips mark-up
Proffessional $250 000 0.01 1:200 From 0 pips + $3 / lot (per side)

 

Sfam-FX offers one account to retail traders (Standard) and another for institutional clients (Proffessional). There is also a managed account type. All accounts are said to provide variable spreads and default leverage of 1:50, which could be raised to 1:200.

 

Sfam-FX Advantages

 

Regulated in Cyprus

Sfam-FX is yet another brand of Leverate – a leading technology solutions provider in the forex industry. The company is licensed by one of the most popular European financial watchdogs – the Cyprus Securities and Exchange Commission (CySEC).

 

MT4 and Sirix platforms offered

Sfam-FX offers both Sirix web and MetaTrader 4 platforms. In fact, Sirix is a software developed by the company behind the brand – Leverate. Launched in 2012, the Sirix platform is equipped with built-in advanced indicators and charting options. Most importantly, the platform has a social trading platform, integrated into it.

 

As regards MetaTrader 4, you are probably aware of the capabilities of this platform, if you have any experience with forex trading. It is the industry-standard software since 2003, MetaTrader is a popular choice for new and experienced traders due to its crisp charting package, numerous automated strategies (EAs) and customization options (via the MQL Marketplace).

 

>> More brokers supporting MT4 <<

 

Extensive product portfolio

Sfam-FX offers trading in more than 150 forex pairs, as well as various CFDs – on precious metals, commodities, stocks and indices.There are more than 750 financial instruments available with this broker, including such traded at leading exchanges like NYSE, NASDAQ, CME, etc.

 

Reasonable leverage levels

Another thing we like in the offering of this broker is the reasonable leverage ratios it provides. First, Sfam-FX offers a default leverage level of 1:50, which is in line with CySEC guidelines. Second, the maximum leverage available is 1:200, which will satisfy most traders and yet is not dangerously high.

 

Sfam-FX Disadvantages

 

Poor presentation of trading conditions

Sfam-FX has not presented its spreads clearly on its website, which means that this broker fails to follow a transparent pricing policy. The only thing that is indicated in terms of pricing on the Standard account is the spread mark-up the broker applies to trades (0,5 pips on EUR/USD).

 

Most brokers offer spreads in the range of 1.0 – 1.5 pips for this pair, and some even lower. For example, FBS, another CySEC-regulated company, offers spread averaged 0.9 pips om EUR./USD on its Standard accounts.

 

>>Real-time spread comparison<<

 

Couldn’t register a demo account

We tried to sign up for a demo account at Sfam-FX several times, but an Error message kept popping out. This could be a temporary problem with the broker’s website, or Sfam-FX does not provide demo accounts at all.

 

Conclusion

 

According to the information on its website, Sfam-FX targets investors from the middle east, the Emirates and Europe. It is one of the many brands, operated by Leverate Financial Services Ltd, along with ApolloFX, Vinci Capital Markets, FX District and Direktbroker-fx. To be honest, we find the fact that a company offers identical services by so many different brands a bit disturbing. Nonetheless, Leverate is a well-known player in the forex world an it is properly regulated, which is of utter importance.

 

CySEC regulation provides a decent level of security and reliability, as it involves a number of requirements to licensed brokerages. They must meet solid capital adequacy requirements, to keep client funds separated from company assets, to report their transactions, among other things. Besides, Cypriot brokers can provide their services in any EU member state under the MIFID regulations.

 

If you are bothered by the fact that Sfam-FX is one of too many brokerage brands operated by a single company, or that its spreads are not properly presented on the website, you can choose a better broker from the list below.

 

>>Find a better forex broker licensed in Cyprus<<

 

Here is our recap of Sfam-FX:

 

Pros

Cons

Regulated in Cyprus

Poor presentation of the spreads

Both Sirix and MT4 available

Couldn’t register a demo account

Reasonable leverage levels offered

No demo accounts?

Extensive product portfolio

 

 

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Traders` reviews for Sfam-FX

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