WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
您当前语言与浏览器默认语言不一致,是否切换?
切换
Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10

SIM

United Kingdom|5-10 years|
Suspicious Scope of Business|Suspicious Overrun|High potential risk|

http://www.simmarkets.com/

Website

Rating Index

Contact

service@simmarkets.com
http://www.simmarkets.com/
1 London Wall Place London EC2Y 5AU UNITED KINGDOM

Licenses

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

Single Core

1G

40G

Open Now

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 3
Previous Detection : 2024-11-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • The United KingdomFCA regulation (license number: 119348) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

SIM · WikiFX Survey
Danger A Visit to SIM in UK -- Finding No Office
United Kingdom

Users who viewed SIM also viewed..

XM

9.05
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

Neex

9.12
Score
15-20 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

FXCM

9.44
Score
Above 20 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

Decode Global

8.64
Score
5-10 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

SIM · Company Summary

Note: SIMs official site - https://www.simmarkets.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

SIM Review Summary in 4 Points
Founded 5-10 years
Registered Country/Region United Kingdom
Regulation Not regulated (suspicious FCA clone)
Customer Support Email

What is SIM?

SIM is an online trading platform based in the United Kingdom that offers trading services to individuals interested in the financial markets. However, it is important to note that SIMs website is currently unavailable, making it difficult to verify its legitimacy or regulatory status. And the FCA (Financial Conduct Authority)) licenses with number 119348 claimed by the broker is suspected to be fake clone, which also raises concerns about the level of security and protection provided to customers.

In the forthcoming article, we will dissect the broker's traits from multiple perspectives, presenting you with clear and structured data. If piqued, we encourage you to continue reading. We will also summarize our findings towards the article's close, providing you with an at-a-glance understanding of the broker's distinctive features.

Pros & Cons

Pros Cons
• None • Not regulated (suspicious FCA clone)
• Lack of transparency
• Website dysfunctional
• Very limited customer support channels

The negative aspects associated with SIM are numerous, marked by its unregulated status, potentially presenting as a suspicious FCA clone. Furthermore, the platform suffers from opacity, negatively impacting the level of trust potential traders may place in its services. The functionality of the website is impaired, limiting user accessibility. Moreover, the limited customer support channels reduce the platform's responsiveness to user queries and issues.

The absence of visible positive attributes for SIM makes it difficult to recommend the platform for trading purposes.

Is SIM Safe or Scam?

Is SIM Safe or Scam?

When considering the safety of a brokerage like SIM or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

  • Regulatory sight: It is not regulated by any major financial authorities,which means that there is no guarantee that it is a safe platform to trade with. The FCA (Financial Conduct Authority) licenses with number 119348 claimed by the broker is suspected to be fake clone.

Besides, the official website of the broker is inaccessible, indicating that the trading platform may have absconded. These make investing with them risky.

suspicious clone FCA license
  • User feedback: Read reviews and feedback from other clients to get an understanding of their experiences with the brokerage. Look for reviews on reputable websites and forums.

  • Security measures: So far we cannot find any security measures info on Internet for this broker.

In the end, the choice to trade with SIM is an individual one. It's crucial to meticulously evaluate the associated risks and rewards prior to making a final decision.

Customer Service

Customer Service

SIM offers customer support solely through email, which greatly limits the varieties of immediate assistance for clients. While email can be effective for dealing with non-urgent, detailed queries, it might be less practical for clients requiring real-time aid.

Email: service@simmarkets.com.

Therefore, the extent of customer service from SIM may be considered restrictive compared to other companies that offer more diverse support channels. Interested traders should take this into account when choosing SIM as their trading platform.

Conclusion

SIM, a trading platform based in the UK, offers its trading services to clients worldwide. However, upon closer scrutiny, several concerning issues come to light. Primarily, SIM appears to be non-regulated, ostensibly cloning the FCA (Financial Conduct Authority) certification. This lack of regulation is a significant red flag as clients lack the assurances and protections afforded by financial regulatory compliance.

Furthermore, issues such as a non-functional website and absence of abundant customer service reflect a questionable level of professionalism and attention to detail, further undermining the platform's credibility.

Therefore, any potential client considering using SIM should exercise extreme caution. It is strongly recommended to consider other broker options, preferably those that are transparently regulated and prioritize security and accountability. For the safety of their investments, clients should always opt for financial platforms that demonstrate the highest professional standards.

Frequently Asked Questions (FAQs)

Q 1: Is SIM regulated?
A 1: No. It has been verified that this broker currently has no valid regulation, the FCA (Financial Conduct Authority) license with number 119348 claimed by the broker is suspected to be fake clone.
Q 2: Is SIM a good broker for beginners?
A 2: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of the lack of transparency and dysfunctional website.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Broker Information

Company Name

Schroder Investment Management Ltd

Abbreviation

SIM

Regulatory Status

Suspicious Clone

Platform registered country and region

United Kingdom

Company website
Phone of the company

--

X

--

Facebook

--

Instagram

--

YouTube

--

Company address
  • 1 London Wall Place London EC2Y 5AU UNITED KINGDOM

Linkedin

--

WhatsApp

--

QQ

--

WeChat

--

Customer Service Email Address
  • service@simmarkets.com

Company Summary

Review

0 Comments
Write a comment

No comment yet

Write a comment
TOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
  • Hong Kong

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com