If you’re new to trading then this article is for you. If you already have experience with a SinaraCorp broker this article is for you as well and if you are just looking for basic information please welcome. We did our research on this broker and things are not looking good for them.
The world of trading is full of possibilities, but you should be careful, because it is full of possibilities for scammers as well. Many people have fallen into their traps, they are just that good when it comes to lying to the clients. Don’t become a victim of fraud. Read this detailed SinaraCorp review and learn how to avoid scammers.
SinaraCorp is an unregulated CFD broker that claims to be based in Germany. The website is easy to handle but it is not very informative about the corporation. There are no registration numbers or the owner name, or the year of foundation. Overall this is not very trustworthy and let’s look further into regulations.
| Broker status: | Unlicensed Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | sinaracorp.com |
| Blacklisted as a Scam by: | FMA |
| Owned by: | N/A |
| Headquarters Country: | Germany |
| Foundation year: | N/A |
| Supported Platforms: | Web Based |
| Minimum Deposit: | 250 EUR |
| Cryptocurrencies: | No |
| Types of Assets: | Forex, Indices, Shares, Precious Metal, Energies |
| Maximum Leverage: | 1:500 |
| Free Demo Account: | No |
| Accepts US clients: | No |
Is SinaraCorp a Broker With a Good Reputation?
Not quite. Even if SinaraCorp claims that they are legit, the truth is far from that. The broker does not have any legit forex licenses. On top of that the company was publicly exposed as a scam by the FMA, the main regulatory body in Austria. To quote:
“Attention! The FMA warns investors against concluding transactions with: Sinaracorp / High Net Group Ltd with its registered offices apparently in: Frankfurt am Main and the Marshall Islands”, the warning of the Austrian regulator reads, adding that Sinaracorp “is not authorized to carry out banking transactions in Austria that require a license. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others”.
Please beware! These warnings are here for a reason. If the main body of authority is telling you that the broker is not legit then you should stay away from them. The Austrian regulators say they have been contacted by more than 630 victims and that stands for 2021 alone. Those people lost on average 32 600 EUR. Don’t be part of these ugly statistics.
Is an Unlicensed Broker Safe?
No. Here are a few insights: Regulated brokers must keep their own money segregated from their client’s money, which ensures that the company must use their own funds for investments. There is negative balance protection, as well as guaranteed funds. These measurements are there to protect the client, something you will never get with a SCAM broker such as SinaraCorp.
Also, we want to invite you to read our recently updated reviews of fraudulent brokersPrimeDeltas,ACE FX, andAltimaTrade. Be careful with these brokers.
So Is SinaraCorp a Decent Broker or a Scam?
SinaraSorp is an unlicensed broker, allegedly based in Germany. Publicly exposed as a scamming company by the FMA. The minimum deposit is 250 EUR while the maximum is 100 000 EUR. The leverage ratio goes from 1:200 to 1:500.
SinaraCorp Bonuses – A Fraudulent Method
SinaraCorp is offering a very lucrative trading bonus scheme, and the bonus should represent something good, well not in this case. Upon receiving it, you would need to reach certain minimum trading volume before you could make any attempt for withdrawal. This is understandable, but let’s check two very important notes from SinaraCorp’s bonus policy:
“In order to withdraw funds from an account that has been credited with a trading bonus, the trader will be required to execute a minimum trading volume of (bonus amount + Deposit) x25”. And “The terms and conditions associated with any bonus rewards are subject to change from time to time”.
Meaning they can change policies that can affect minimum trading volume whenever they want and that will be used against your funds.
SinaraCorp Broker – Countries Of Service
The company is scamming people from:
- Switzerland
- Austria
- Germany
SinaraCorp CFD Trading Platform
Let’s see what the company has to say about the trading platform. It is web based and it is available for phones and desktop devices. We’ve tried the option to explore the platform but in order to do that we would have to open an account with the company, and since SinaraCorp trading does not allow a demo account we did not go for it. One thing is for certain they are not using the industry’s standard MT4 and MT5 platforms.
All About SinaraCorp Accounts
There are 6 types of accounts:
- Start
- Bronze
- Silver
- Gold
- Platinum
- Exclusive
The minimum amount for investment is 250 EUR while the deposit for the Exclusive package requires 100 000 EUR. Bonuses vary and they go from an unspecified welcoming bonus up to 100%. Trading with all assets is not available with the Start and Bronze packages. The leverage ratio goes from 1:200 to 1:500. Which is insane, because licensed companies can not offer leverage higher than 1:30.
SinaraCorp Deposit Withdrawal Scam
SinaraCorp has another interesting police condition and this one affects withdrawal requests. “Please note clearly that we are not committed to any time frame”, that means that they can process withdrawal requests in a year or two or never. Yes, it is outrageous, and you wonder how many people fall into their traps? It is simple.
When they reach you they create a state of urgency, SinaraCorp will throw all of these ‘good’ reasons why you should start now. But always do your research, the good opportunities will still be there tomorrow. Hopefully you will find this article before SinaraCorp brokers finds you and if they eventually do, you’re all set up not to go further with this company.
Scammed by a SinaraCorp Broker? – Let Us Hear Your Story
If you were scammed by the SinaraCorp broker we’re sorry, but there is a way to go against the scam and we must act fast! Click on the button below and let us know, our well experienced team will help you to restore your money. This is free of charge, don’t let the scammers go unpunished!