SanderFX is an unregulated broker that claims to have 10 million clients. This is an amazing number–and inflated. SanderFX claims to be licensed by first tier brokers FCA and CySEC. It also says it is regulated by St. Vincent and the Grenadines and St. Lucia, which are third rate brokers. It turns out that SanderFX doesn’t have any of these licenses. In addition, it claims to be run by an organization Gembell Limited, which doesn’t exist. Not surprisingly it has a false address.
We Have Found Some Problems with SanderFX
After so many misleading claims, it is impossible to trust SanderFX. Even one of these problems would have been enough to avoid this broker. You should always check out and validate any claims about licensing on the regulator’s website, check addresses and company names. We can see that all of these statements fall down like a house of cards.
Red Flags Concerning SanderFX:
No license
Misleading information
Fake company and address
No transparency
Bad reviews
What Should You Do If You Have an Account with SanderFX?
We do not recommend opening an account with SanderFX If you do hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate the matter, track down the broker and your funds, and will help you prepare your claim.
