Thinking of getting into business with SonicFX? Here is what you must know about this broker. Carefully read this review to find out if sonicfxtrades.com is the trading platform you will want to trade with.

About SonicFX 

SonicFX is an offshore brokerage company with a lot of promises for traders. The address of the broker shows California, USA.

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Address

Added, it trades on the following instruments like forex, stocks, commodities, crypto, bonds and indices.

To clarify, regardless of the trading instruments SonicFX claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.

sonicfxtrades.com: Reasons to Avoid This Broker

Firstly, sonicfxtrades.com is a platform with no financial authority overseeing its financial services. We discover this broker is not worth your money as US Financial Authorities — the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) have not approved the broker on their data base. Nothing is known about the broker.

Secondly, we noticed sonicfxtrades.com has a free account for traders. We advise you don’t waste your time on that, so you don’t get lured into trading real fund with this unregulated broker.

More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.

These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.

Withdrawal and Deposit

Withdrawal process

SonicFX leaves us with no specific information on processing days nor withdrawal fees. Truly, this broker is a scam and its fraudulent schemes are clear.

Minimum Deposit

SonicFX minimum deposit is not available.

As for the payment methods, the broker accepts only cryptocurrencies. Truly, you should not consider making any payment with this broker because it is a risk. So beware!

SonicFX Platform

SonicFX offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.

As for the leverage, the broker discusses nothing for traders. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

SonicFX Licensing and Regulation

It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.

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Conclusion: Is sonicfxtrades.com a Reliable Broker?

No, sonicfxtrades.com is not a reliable broker for traders even though it promises offers that look good to be true. The broker is pretty scanty as it leaves traders with little to nothing to know about the platform.

Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.

We owe our readers the duty to fish out scam forex brokers as well as share reasons to avoid fraudulent schemes. Meanwhile, we will not recommend this broker for trading.

Kindly share your comment about this broker in the comment section.

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By Dan

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