Score

1.46 /10
Danger

Shinmarkets

United Kingdom

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

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Comparison

Quantity 12

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index6.65

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Shinmarkets Limited

Company Abbreviation

Shinmarkets

Platform registered country and region

United Kingdom

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 12 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Pyramid scheme complaint
Expose
    Shinmarkets · Company summary

    General Information

    Established in 2003, Shinmarkets is a brokerage firm headquartered in London, . Its subordinate industry covers industrial, financial investment, as well as foreign exchange, index, stock and other financial derivatives.

    Market Instruments

    Shinmarkets offers more than 200 trading products, including forex currency pairs, precious metals, stocks/index, and CFD products.

    Account Types

    Three trading accounts are on offer with Shinmarkets to satisfy different traders' trading needs and strategies: Classic, ECN and Pro. opening a most basic account, that is classic account, requires as low as $5, which is encouraging and friendly to most regular traders.

    Leverage

    The maximum trading leverage offered by Shin Markets is up to 1:400 for forex trading, which is considered high. Since leverage can amplify both profits as well as losses, it is vital for traders to use it, especially inexperienced traders.

    Spreads & Commissions

    Shinmarkets says it offers extremely compettitive spreads, as low as 0.8 pips on the EUR/USD pairs, which is an attractive offering. The total cost of trading is computed using spreads by many forex brokers in today's market; as a result, brokerages that offer competitive spreads have significant client demand.

    Trading Platform Available

    There is in fact a downloadable MT5 trading software that is available to users with this brokerage.

    Deposit & Withdrawal

    In terms of deposit and withdrawal payment methods, Shinmarkets supports traders to fund their accounts through Visa, Mastercard, Swift bank transfer, BPAY, Union Pay, Skill, POLi and Neteller.

    Customer Service

    The Shinmarkets customer support team can be available through email: info@shinmarkets.com, and telephone: +44 207 3997708.

    Trading Hour

    Shinmarkets market is open 24 hours a day from Monday to Friday. The market is closed only when it is impossible to conduct transactions on the globally prescribed holidays. Start: Sunday, 21:00 GMT, End: Greenwich Friday 21:00.

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