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Company Name
Symbol Forex Inc.
Company Abbreviation
Symbol Group
Platform registered country and region
China
Company website
Company summary
Pyramid scheme complaint
Expose
| Aspect | Information |
| Registered Country/Area | China |
| Founded Year | Unavailable |
| Company Name | Symbol Forex Inc. |
| Regulation | No recognized regulatory oversight |
| Minimum Deposit | $100 for STP Standard Account, $5000 for ECN Expert Account |
| Maximum Leverage | 1:400 |
| Spreads | Information not available |
| Trading Platforms | Web-based platform |
| Tradable Assets | Forex, Commodities, Indices, Cryptocurrencies, Stocks |
| Account Types | STP Standard Account, ECN Expert Account |
| Demo Account | Information not available |
| Islamic Account | Information not available |
| Customer Support | Email: CS@SYMBOLFOREX.COM |
| Payment Methods | Bank wires, credit cards, debit cards, ATMs |
| Educational Tools | Information not available |
Overview of Symbol Group
Symbol Group is a company that operates without recognized regulatory oversight, which raises concerns about its legitimacy and adherence to industry standards. The absence of regulation means that there are no established authorities ensuring compliance and investor protection. Engaging with Symbol Group carries significant risks that individuals should carefully consider before making any investment decisions.
Symbol Group offers a range of market instruments for trading purposes. These include forex currency pairs, commodities, indices, cryptocurrencies, and stocks. However, the company's main website is currently down, which may further raise concerns about its reliability and accessibility for potential traders.
While Symbol Group provides account types such as the STP Standard Account and ECN Expert Account, the company does not disclose specific information about spreads and commissions. Traders are advised to consult Symbol Group's official website or contact customer support for accurate and up-to-date information on these aspects. Additionally, reviews on WikiFX indicate unresolved issues related to severe slippage and significant delays in order execution, further highlighting potential risks associated with trading through Symbol Group.
Pros and Cons
Symbol Group offers access to diverse financial markets such as forex, commodities, indices, cryptocurrencies, and stocks. Traders can choose from multiple account types and benefit from a maximum leverage of 1:400. The platform provides a web-based trading interface. However, Symbol Group lacks recognized regulatory oversight, which raises concerns about security. The unavailability of the main website and limited information on spreads, commissions, and customer support may hinder users' experience. Negative reviews mentioning order execution delays and the lack of transparency on regulation are also notable drawbacks. Furthermore, the platform lacks specific information on trading platforms, leaving traders uncertain about features and functionality.
| Pros | Cons |
| Access to diverse financial markets | Lack of recognized regulatory oversight |
| Multiple account types available | Unavailability of the main website |
| Maximum leverage of 1:400 | Limited information on spreads, commissions, and customer support |
| Web-based trading interface | Negative reviews mentioning order execution delays and lack of transparency on regulation |
| Lack of specific information on trading platforms, leaving traders uncertain about features and functionality |
Is Symbol Group Legit？
Symbol Group operates without any recognized regulatory oversight, which poses a significant concern for potential investors. The absence of valid regulation implies that there are no established standards or authorities overseeing the company's operations and ensuring compliance with industry norms. Consequently, engaging with Symbol Group carries substantial risks that individuals should carefully consider before making any investment decisions.
Market Instruments
FOREX: Symbol Group provides access to various forex currency pairs, allowing traders to participate in the foreign exchange market. Examples of forex pairs offered may include major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs such as AUD/CAD, NZD/JPY, and USD/ZAR.
COMMODITIES: Traders at Symbol Group can engage in commodity trading, which involves buying and selling contracts for physical goods. Commodities available for trading may include precious metals like gold and silver, energy resources like crude oil and natural gas, agricultural products like corn and soybeans, and others.
INDICES: Symbol Group offers the opportunity to trade indices, which represent the performance of a group of stocks from a specific market or sector. Popular indices that traders may have access to could include the S&P 500, FTSE 100, NASDAQ-100, DAX 30, and Nikkei 225, among others.
CRYPTOCURRENCIES: Symbol Group enables trading in cryptocurrencies, which are digital or virtual currencies that utilize cryptography. Examples of cryptocurrencies that may be available for trading could include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and many others.
STOCKS: Traders can also trade stocks through Symbol Group, providing access to shares of publicly traded companies from various global markets. Examples of stocks that may be available for trading include well-known companies like Apple, Google, Amazon, Microsoft, Tesla, and many more.
Pros and Cons
| Pros | Cons |
| Access to various forex currency pairs | Limited information on trading volume and market depth |
| Opportunity to engage in commodity trading | Lack of transparency regarding pricing and liquidity |
| Ability to trade indices representing markets | No information on specific market instruments provided |
| Trading in cryptocurrencies |
Account Types
STP STANDARD ACCOUNT: The STP Standard Account offered by Symbol Group provides a maximum leverage of 1:400 and requires a minimum deposit of 100 USD. The minimum position size is 0.01, and it supports various expert advisors (EAs).
ECN EXPERT ACCOUNT: The ECN Expert Account available at Symbol Group offers a maximum leverage of 1:400 and requires a minimum deposit of 5000 USD. The minimum position size is 0.01, and it supports the use of expert advisors (EAs).
| Pros | Cons |
| Supports expert advisors (EAs) | Lack of regulatory oversight |
| Maximum leverage of 1:400 | Unavailability of main website |
| Minimum deposit of $100 (STP Standard Account) and $5000 (ECN Expert Account) | Demo account not mentioned |
Leverage
Symbol Group provides a maximum leverage of 1:400 for its trading accounts, including both the STP Standard Account and the ECN Expert Account.
Spreads & Commissions
Symbol Group does not provide specific information about spreads and commissions. The details regarding the spreads, which represent the difference between the bid and ask prices, and commissions charged by Symbol Group are not mentioned. Traders are advised to consult Symbol Group's official website or contact their customer support for accurate and up-to-date information on spreads and commissions associated with their trading accounts.
Minimum Deposit
Symbol Group has a minimum deposit of 100 USD for the STP Standard Account and 5000 USD for the ECN Expert Account.
Deposit & Withdrawal
Symbol Group allows customers to deposit and withdraw funds through a variety of methods, including bank wires, credit cards, debit cards, and ATMs. There are no fees for depositing or withdrawing funds, and the minimum deposit amount is $100. The minimum withdrawal amount is $50.
Pros and Cons
| Pros | Cons |
| Multiple deposit methods available | Lack of information on withdrawal processing times |
| No fees for deposit or withdrawal | Main website is currently down |
| Low minimum deposit and withdrawal amount | Lack of transparency on withdrawal fees and policies |
Trading Platforms
Symbol Group offers a web-based trading platform that allows customers to trade stocks, indices, forex, currencies, and commodities. The platform is available 24 hours a day, 5 days a week, and it offers a variety of features, including real-time quotes, charting tools, and order execution.
| Pros | Cons |
| Web-based platform accessible 24/5 | Lack of transparency and regulatory oversight |
| Real-time quotes for stocks, indices, and more | Main website currently down, affecting accessibility |
| Charting tools and order execution capabilities | Reports of significant delays and slippage in execution |
Customer Support
Symbol Group offers customer support through email. Traders can reach out to the customer support team by sending an email to CS@SYMBOLFOREX.COM for any inquiries or assistance they may require.
Reviews
According to reviews on WikiFX, Symbol Group has been associated with unresolved issues, including severe slippage and significant delays in order execution, with some orders reportedly delayed for over an hour. Traders are advised to exercise caution and consider these factors before engaging with Symbol Group.
Conclusion
In conclusion, Symbol Group operates without recognized regulatory oversight, which raises concerns for potential investors. The lack of regulation means that there are no established standards or authorities overseeing the company's operations, posing significant risks. Symbol Group offers a range of market instruments, including forex, commodities, indices, cryptocurrencies, and stocks. They provide two account types with different leverage options. However, Symbol Group does not provide specific information about spreads and commissions, and customer reviews suggest unresolved issues such as slippage and delays in order execution. Traders should exercise caution and carefully consider these factors before considering engagement with Symbol Group.
FAQs
Q: Is Symbol Group a legitimate company？
A: Symbol Group operates without recognized regulatory oversight, posing risks for investors.
Q: What market instruments does Symbol Group offer？
A: Symbol Group offers forex, commodities, indices, cryptocurrencies, and stocks for trading.
Q: What is the maximum leverage provided by Symbol Group？
A: Symbol Group provides a maximum leverage of 1:400 for its trading accounts.
Q: What are the deposit and withdrawal options at Symbol Group？
A: Symbol Group allows deposits and withdrawals through various methods without fees.
Q: What trading platform does Symbol Group provide？
A: Symbol Group offers a web-based platform with real-time quotes, charting tools, and order execution.
Q: How can I contact Symbol Group's customer support？
A: You can reach Symbol Group's customer support by email at CS@SYMBOLFOREX.COM.
Q: Are there any notable issues reported about Symbol Group？
A: Reviews suggest unresolved issues with slippage and order execution delays at Symbol Group.
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