Note: SSFX's official website: https://www.ssfxlimited.com is currently inaccessible normally.
SSFX Limited is an offshore broker offering forex, metals, and CFDs. It also provides the most popular trading platform - MT4. Besides, the minimum deposit of $10 is very attractive. However, it is not supervised by financial authorities.
Pros and Cons
Is SSFX Legit?
SSFX was registered by SSFX Limited in Saint Vincent and the Grenadines in 2017. SSFX claims it was regulated. However, the Financial Services Authority of St. Vincent and the Grenadines does not supervise forex brokers and CFDs. Traders should be cautious when trading.
What Can I Trade on SSFX?
Account Type
SSFX offers three account types: Islamic Standard, ECN Standard and Pro.
Leverage
The maximum leverage of SSFX's Islamic Standard account is 1:1000, and other accounts are 1:200. Leveraging can increase returns, but it also raises the risk of losing more than you invested.
Spreads & Commission
When we tried out SSFX's platform in demo mode, we found the broker's spreads floating around 0.7 pips on EUR/USD with no commission fees.
Trading Platform
Deposit and Withdrawal
SSFX can deposit and withdraw through Bank Transfer, Credit Card, Skrill and Neteller. The minimum deposit of SSFX is $10. SSFX Limited has a withdrawal fee for all clients. For Indonesia, Thailand, Vietnam, and Malaysia, the fee is 1.5% plus the conversion. But when it comes to the deposit, it is free. Moreover, the processing time is not mentioned.
Customer Service
The Bottom Line
In conclusion, traders should be cautious when coming across SSFX. SSFX offers a few trading assets and lacks regulation. Besides, customer support methods are limited so that problems can't be solved in time. Moreover, it doesn't mention its fees.
FAQs
Is SSFX safe?
No, it doesn't have a regulation.
Is SSFX good for day trading?
No. SSFX shows no information about its fees
What kind of trading platform does SSFX offer?
MT4.
