de | cn | ru

SNP Broker (S&P Broker) Review - is it scam or safe?

SNP Broker (S&P Broker) Review - is snpbroker.io scam or safe?

RATING: 1 / 0 REVIEWS SNP Broker (S&P Broker)
SNP Broker (S&P Broker) is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account  Min. deposit  Max. leverage Spread
Easy Start  $250 N/A N/A
Trader  $500 N/A N/A
Pro Trader  $1 000 N/A N/A

 

SNP Broker (S&P Broker) is another unregulated broker on the forex and CFD market. It claims to offer several account types, but has failed to mention key trading conditions, such as the spreads, leverage levels provided, etc.

 

 

What is worse, we couldn’t find any company name on its website, so SNP Broker’s service is basically anonymous. Read on to get all the details regarding this broker prior to investing

 

 

SNP Broker Advantages

 

Claims to support the MT4 and two other platforms

SNP Broker allegedly supports the good old MetaTrader4 (MT4), which is always a positive sign.  The MT4 provides all a trader needs: secure trading environment, a number of technical indicators, sophisticated charting system, a wide range of Expert Advisors (EAs) for automated trading and extensive back-testing options.

 

Besides, the company claims to offer trading on two more platforms – Status, and some web-based solution. Unfortunately, we could not test any of the above mentioned platforms., so you’d better check out the best MT4 brokers.

 

 

>> Top-rated MT4 forex brokers<<

 

 

SNP Broker Disadvantages

 

No company name, no regulation

Despite our thorough search on the broker’s website, we could not find any corporate information. The broker seems based in the UK (it provides a contact number with a UK code), and that is all. SNP Broker’s Terms and Conditions only mention “the group”, so basically the whole website and the broker’s service is anonymous. Of course, this also means that the broker is not licensed and that its clients have no guarantee for the security of their funds, and no authority to turn to in case something goes wrong.

 

Trading conditions unclear

As we said in the beginning, the trading conditions of SNP Broker are far too unclear and we couldn’t open a demo account either. This is yet another clear-cut sign of trouble regarding this broker. Such lack of transparency of a broker’s services and pricing is typical of scammers.

 

Most forex brokers offer spreads within the range of 1.0 – 1.5 pips on the most liquid pair, EUR/USD. Here you can check our list of brokers offering tighter spreads:

 

 

>> Lowest spread forex brokers<<

 

 

Withdrawal fees

On top of the lack of legit license and clarity on trading conditions, SNP broker charges pretty salty withdrawal fees, and has set some volume trading requirements.

 

 

Click on the image to zoom in.

 

Some brokers set similar volume trading requirements, but only for non-deposited funds, such as bonuses. Even those are considered unfair trading practices, as ESMA banned trading incentive promotions used by brokerages that are tied to trading volumes.

 

 

Conclusion

 

SNP Broker (S&P Broker) is an anonymous unregulated broker, whose trading offer is far from being transparent.  Most likely this is one of the many scammers on the forex market who will rip you off ruthlessly and there is little you can do to get your money back. That is why you’d better stay away from SNP Broker and any other broker that does not hold a legit forex trading license.

 

As usual, we would advise our readers to direct themselves to better trading options. For example, there are plenty of brokers duly licensed in Australia or Cyprus, who offer even better trading conditions.

 

 

>> Wanna trade with a broker regulated in Cyprus? <<

 

 

Regulation in Cyprus involves a set of rules and requirements introduced both on local and on a EU level, which provides certain guarantees to their clients. For example, Cypriot brokers have to hold a minimum capital of at least €730 000, which should be maintained at all times, to keep client funds separately from the company’s operational assets, to regularly report executed transactions and many more. Moreover, they have to comply with ESMA’s rules on leverage, trading incentives, provision of negative balance protection, and more.

 

And finally, let’s sum up the strong and weak sides of SNP Broker (S&P Broker) in a few words:

 

Pros Cons
Allegedly supports the MT4 No company name, no regulation
  Trading conditions unclear
  Withdrawal fees

 

Latest news about SNP Broker (S&P Broker)
No news about SNP Broker (S&P Broker). Check back later.
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for SNP Broker (S&P Broker)

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru