Sinox FX-Overview of Minimum Deposit, Leverage, Spreads

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General Information

Registered in the United Arab Emirates, Sinox FX is an online forex broker providing access to more than 120 trading instruments, including Forex, Metals, Indices, CFD products through the advanced MT4 trading platform. Investors may choose from multiple different trading accounts on the Sinox FX platform, and the maximum leverage available is insanely high, reaching up to 1:400. Sinox FX boasts that it offers 24x7 customer support at hand to solve clients trading problems.

Is Sinox FX safe to trade with？

Unfortunately, Sinox FX has let us down when it comes to enforcing rules and regulations. This broker has been confirmed to be outside of the purview of any regulatory bodies. In light of this lack of licensing, WikiFX has assigned it a regulatory status of “No License” and an overall quality rating of 1.26 out of 10.

Please be aware of the considerable risk associated with trading with unregulated forex broker.

Market Instruments

Sinox FX claims that it offers over 120 trading instruments. Four classes of trading assets can be traded, which include Foreign Exchange, Metals, Index, and CFDs.

Account Types

Sinox FX provides five tiered trading accounts for both retail and professional traders: Silver, Gold, Platinum, Elite and Raw. To open a Silver account, the most basic one, only $50 is enough, acceptable for most beginners. While other four trading accounts requires much higher initial deposit, the Gold account from $10,00, the Platinum account from $10,000, the Elite account from $25,000, and the Raw account from $50,000.

Aside from live trading accounts, free demo accounts are also available for beginners to test this platforms trading environment.

Spreads & Commissions

Spreads and commissions are set in the end by trading accounts. The first four trading accounts, Silver, Gold, Platinum, Elite charge low commission, with spreads from 2.5 pips, 1.8 pips, 1.2 pips, 0.8 pips, respectively. The Raw account offers a commission-free trading environment, with spreads from 0.0 pips.

Leverage

When it comes to leverage, a key red flag with Sinox FX is that it permits traders to use leverage of up to 1:1000, which is significantly higher than the levels regarded appropriate by many regulators. This is a common practice for offshore companies, and it seems like that Sinox FX just engages in it to increase its client base.

Trading Platform

Sinox FX offers its clients the access to popular MT4 trading platform that can be available for Desktop, Mobile and Web terminals.

Traders can quickly analyze market activity, place trades, and integrate automated systems thanks to this powerful platform's convenient workspace (Expert Advisors). Everything you need to begin trading on the financial markets, including all of the above features, is available in a single, convenient interface.

Payment Options

The minimum deposit to invest with Sinox FX is $50. This broker allows its clients to make a deposit and withdrawal through a series of payment options, such as Crypto-wallets, MasterCard, PayPal, VISA, MasterCard, Bank Transfer, Neteller, Skrill.

Additional details, such as withdrawal policies, processing time, service fees, are not disclosed.

Customer Support

Traders can reach out to Sinox FX about any questions or concerns they may have about their accounts or their trading through the following methods:

Telephone: +971 523567495

Email: support@sinoxfx.com

Registered Company Address: Registered office: Office No. 701, 7th Floor, Al Jawhara Building, Bank Street, Bur Dubai, U.A.E.

Or you can also follow this brokerage on some popular social media platforms, such as Facebook, Twitter, Instagram, Linkedin and Telegram.

Risk Warning

There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.

The information presented in this article is intended solely for reference purposes.