A CSSF warning has already been issued regarding SunCFD. Sun CFD is claiming to be a broker licensed by CSSF, which is not the case. These are blatant lies that mislead the investor into believing funds are safe. Under no circumstances should you sign up with the broker in question. Your funds and personal details will fall into the wrong hands with no one to blame. Ensure you stick to industry regulated brokers for a safe trading experience at all times.
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Appearance and Review of Sun CFD
The main website has an appealing approach with easy navigation. Don’t let your eyes fool you; there are some loopholes we noticed with their website. Lack of information is one of the many lacking aspects of the website.
You won’t get the luxury of knowing whether your funds are safe with SunCFD. Ensure you read this entire Sun CFD review and get the entire story. These are the main reasons to stay away from the bogus platform.
Assets and trading instruments on SunCFD
There are five available trading instruments with the platform. The five include Commodities, Crypto, Forex, Indices, and Shares. Some of the commodities you find include gold, natural gas, oil, and gold.
The platform also comes out as a Crypto wallet where you can buy and sell leading digital assets. According to the web page, there are 80 exotic, major, and minor currency pairs. The most popular indices advertised on the platform include Nasdaq 100, S&P 500, and more.
Business management team
We get to see a picture of what it looks like for the management team. You should note that the picture does not come with names. It could be a stock photo that the people behind this platform downloaded from the internet. We don’t get to see any one of the people on the photo openly advocating for the platform.
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There are no videos of the platform’s technical team that would help shed light on the staff. It’s all a hoax that is being used to entice unsuspecting investors into signing up.
Comments and user ratings of SunCFD
Most trading forums are now on the lookout for the owner’s chat room. The owner was using online trading forums to entice users into signing up. We already have some comments from victims of the platform.
Jacque signed up with the platform, hoping to start reeking profit with the broker. Little did he know that his account would later be blocked once he asked for a withdrawal. More victims are coming out and sharing their experiences on social media channels.
Domain details of suncfdtrading.com
With domain checker tools, we get a proper view of the website’s history. Most of the traffic is from Europe and North America. It seems the owner did their best to target investors from this region.
The website went live on 5th December 2012, and there have been 2 changes to their IP history. There’s a major problem with the site’s social media presence. It seems that the platform only has negative reviews on most websites. This is an indicator that the entire platform is a hoax.
Features of SunCFD
SunCFD is silent on the number of account types available. According to Jacque, he was not given the option of having an account. He was told that there was an account manager who would handle everything.
All he had to do was deposit with the platform. There’s also no information on the minimum deposit allowed on the platform. These scam artists are failing to address this issue for one reason. All they want is to ensure investors deposit with them as much as possible.
Contact and support
Expect no support from the broker who is already on most blacklists. We tried clicking on the contact page live chat, but the page was directed to their homepage. The broker uses an email address that makes automatic responses.
There’s a Whatsapp line that is available. With Whatsapp, you are only able to get feedback if you ask about the minimum deposit. Any questions regarding their license won’t get any feedback. The broker is trying to control the flow of information with their victims.
Deposit and withdrawal options with Sun CFD
Funding methods include Credit and debit cards, Neteller, Skrill, Sofort, and more. The problem with Sun CFD is that there won’t be any withdrawals anytime soon. It is their duty to inform users when to withdraw funds.
The broker fails to give accurate information on when members receive their funds. It’s also weird that the broker does not give any details on the fees. Transaction fees should be open so that members can know the fees they incur. The broker is far from being transparent.
With no information about leverage and spreads, there’s a lot of risks. The platform does not give any details on the trading platform available. We don’t have a clue whether the platform uses MT4, MT5, or a custom-made platform.
And this leaves more questions than answers. Without a trading system, there’s no way of knowing the conditions available for trading. These are the main reasons why we have to flag down SunCFD as a scam.
License and Registration of Sun CFD
Sun CFD is facing a ban from the industry, with one regulator already blacklisting the platform. The CSSF has issued a warning after the broker claimed to get a license from the European regulator.
The same regulator that the broker claims to get a license has blacklisted them. And this is the concrete proof we need to expose the platform as a hoax. Please stay away from the platform, as it’s a complete scam. There’s no valid license, which means the safety of funds is out of the question.
Furthermore, the broker only publishes a number and doesn’t back it up with certificates. The registration number they use is fraud. After complaints from authorities, the CSSF decided to check the broker out and revealed the truth.
There’s not a single evidence to prove that the broker has ever applied for a license. These are scam artists who will do or say anything to try and make everything appear legit. Stay away as there’s a risk that they will also sell your information.
Safety of funds with Sun CFD
With other regulars planning to issue a warning, the safety of funds with SunCFD is not possible. The broker is even asking for an ID to start trading. These are tell-signs that we are dealing with a rogue online trading platform.
The broker fails to deposit the minimum capital requirement with authorities. It means once you deposit with the broker, your funds won’t get insured. In the event of bankruptcy, you end up losing all your funds.
Scam or Legit Sun CFD
Sun CFD is a scam that is pouncing on unsuspecting investors. We need to expose such brokers who tarnish the good online trading name. It’s the only way to ensure naïve investors don’t end up losing money to such platforms.
Beware of get-quick money schemes that promise heaven. Most of them are only in the business to take your hard-earned money away from you.
We won’t be recommending the use of Sun CFD after the CSSF issued a warning on them.
Instead, go for acumen brokers who will offer insight on trading and offer realistic profit margins. Sign up with dependable brokers for a stellar online trading experience
We wish everyone a successful trading experience.
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