Thinking of getting into business with SuplexDeals? Here is what you must know about this broker. Carefully read this review to find out if suplexdeals.net is the trading platform you will want to trade with.
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About SuplexDeals Broker
SuplexDeals is an offshore brokerage company with a lot of promises for traders. The broker claims to be under the operation of Cyprus Securities and Exchange Commission. Here, the broker is located at — Damkjar Plads
There are different account types SuplexDeals offers namely, Premium, VIP and Basic.
In spite the trading instruments SuplexDeals claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
suplexdeals.net: Reasons to Avoid This Broker
Firstly, suplexdeals.net is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because CySEC does not recognize this broker to be legit.
Secondly, we noticed suplexdeals.net has no demo account for traders. Since traders can’t test SuplexDeals on a free account, we can’t know its viability in the forex market.
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 a scam broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, SuplexDeals presents no information on that for forex traders, but we believe there are charges traders will have to faced.
Minimum Deposit
SuplexDeals minimum deposit is said to be $1000 according to the account type.
As for the payment methods, we can make payment via Bitcoin only. This is a risky payment option that does not guarantee traders of their money if anything goes wrong.
As a matter of fact, you should not consider making any payment with this broker because it is a risk. So beware!
SuplexDeals Platform
SuplexDeals has again kept forex traders in another risk, that is, providing us with no trading platform. Truly, this is a red flag for a scam broker like this one, therefore, traders should not take it serious.
As for the leverage, it can get up to 1:500. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
SuplexDeals 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 that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
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Conclusion: Is suplexdeals.net a Reliable Broker?
No, suplexdeals.net does not seem like a reliable broker for traders even though it promises offers that look good to be true.
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.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
