SFOCL

SFOCL Information

SFOCL is a global financial company based in the United States. Tradeable assets from this company encompass over-the-counter CFDs on metals, energy, futures commodities and indices, etc. It offers demo accounts for traders to practice their trading strategy and a proprietary trading software available on both PC and mobile devices. In addition, it claims to offer 24-hour live support. However, the minimum deposit it requires is $1,000, relatively high comparing to regulated brokers. Further raise your great attention is that the company operates without valid regulation from recognized authorities so far.

Pros and Cons

Is SFOCL Legit？

SFOCL is not regulated by any financial authorities so far, which you should take into consideration before tapping into real trades with them, since lack of regulation usually means less financial security and customer protection.

What Can I Trade on SFOCL？

With SFOCL, you can choose from over 250 over-the-counter CFD financial products: forex, indices and commodities.

Forex market is the most liquid market which can be traded 24 hours a day with major forex centers in the four different time zones: London, New York, Sydney and Tokyo. You can make profit or loss through price fluctuations of different currency pairs.

Furthermore, commodities including precious metals, energy, agricultural products are also available, usually people make money from these products' dynamic demans and supplies. And indices allow you to speculate on the performance of major stock markets worldwide. Common indices are the S&P 500, FTSE 100, and Nikkei 225.

There's no ETFs trading or bonds trading. But overall, you still have a good mix of investment options.

Account Types

Except for a demo account which is used for traders to test their trading strategies and get familiar with the broker's trading conditions, SFOCL also offers two live accounts: Standard account and ECN account. Most trading conditions are the same in these two accounts.

For example, both live accounts require minimum starting deposit amount from $1,000, which is quite high comparing to industry average, with top players sometimes start from $10 only.

Leverage for both accounts is up to 1:400, enabling you to magnify your profits significantly as well as loss, thus you should manage leverage trading prudently. It's always better to earn less than to lose more.

Commission is $0.005 per round while spread start from 1 pip, this can minimize trading costs and increase profit margin.

Usually the standard account is for crowd traders while ECN accounts for senior traders with more capital and better trading conditions. So far we have not found any difference between these two accounts for this broker, so if you decide to trade with this broker, start with the demo account first or check with them directly to ensure you choose the one most suitable for you.

Trading Platform

SFOCL provides a proprietary trading software accessible all Internet devices and can be downloaded from Windows PC, Apple Store and Google Play. It enables you to execute trades easily with a simple interface. Expert Advisors and thousands of indicators are also available for you to catch up with market updates and analysis for better trading decisions.

Customer Support Options

SFOCL does not provide many contact options, though it claims 24/7 live support, what we can find is an email: info@sfocl.com only on its webpage. This might delay response to customer inquiries or supports and impact communication efficiency. Take this factor into consideration when choosing to trade with them.

The Bottom Line

SFOCL makes building a diversified portfolio easier with its wide selection of 250+ investment options over different asset classes. The demo account it offers is user-friendly for beginners and experienced traders alike. 100% fund segregation in Swiss banks to some extent strengthen customer protection as well.

However, the unregulated status, high minimum deposit and limited customer support channels are obvious drawbacks. Before choosing a brokerage, remember to weigh all the pros and cons.

FAQs

Is SFOCL safe？

SFOCL is an unregulated brokerage firm, so it might be safer to choose brokers that are overseen by a top-tier and stringent regulator.

Does SFOCL truly offer commission-free trading？

No. Commission is $0.005 per round.

What kind of trading platform does SFOCL offer？

SFOCL provides a proprietary trading software accessible all Internet devices and can be downloaded from Windows PC, Apple Store and Google Play. It enables you to execute trades easily with a simple interface. Expert Advisors and thousands of indicators are also available.

Is SFOCL good for beginners？

No, SFOCL is not good for beginners, not only because of its unregulated status, but also due to high minimum deposit at $1,000. Beginners should always start small first before they are familiar with investment rules.

Risk Warning

Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.