SGP

Note: SGP's official website: https://www.sgpbinary.com/ is currently inaccessible normally.

SGP Information

SGP is a binary broker registed in the United Kingdom. According to WikiFx, its regulatory status is listed as “Suspicious Clone”.

Is SGP Legit？

SGP's regulation is listed to the category of “suspicious clone” , which means it has no valid regulation. It claims to be regulated by the United Kingdom FCA regulation (license number: 768451) and the Seychelles FSA regulation (license number: SD027), but these are considered offshore regulations and is suspected to be clone. You should be aware of the risk and better to avoid choosing this company.

	Financial Conduct Authority
Current Status	Suspicious Clone
Regulated by	United Kingdom
License Type	Straight Through Processing (STP)
License No.	768451
Licensed Institution	Zeal Capital Market (UK) Limited

	The Seychelles Financial Services Authority
Current Status	Suspicious Clone
Regulated by	Seychelles
License Type	Retail Forex License
License No.	SD027
Licensed Institution	Zeal Capital Market (Seychelles) Limited

Downsides of SGP

• Unavailable Website

SGP's official website is now inaccessible, so you are unable to open an account or trade. In addition, there is no way to know about any detail information about this broker.

• Lack of Transparency

SGP provides no information about its fee structure, account type, way of trade and security measures.

• Regulatory Concerns

SGP is unregulated, which means its practice is unrestricted, and it may even violate the law without being held responsible.

Conclusion

SGP lacks official regulation and provides no information about trading. So, dealing with such broker is very risky, and you don't get any security guarantees. Therefore, you are advised to choose a regulated and transparent trader.