Sander FX is not under any regulation and should be avoided at all events. Sander FX claims to be domiciled in a regulated jurisdiction and displays fake regulatory licenses information on its website to try and improve its credibility with unsuspecting investors.
According to its homepage, the fraudulent firm offers trading in forex, indices, commodities and stocks with "claimed" licenses issued by some financial jurisdictions, their clients can rest assured that they are trading with a safe and secure company. It states that Sander FX is:
1. regulated by St. Vincent & the Grenadine(SVG FSA) as a Limited Liability Company with the registration number 793 LLC 2021.
2. registered at C/O LC02 503, Choc Bay, Castries, Saint Lucia with the registration number 2019-00207.
3. regulated by FMRRC (License number TSRF RU 0395 AA V0174).
However, when we check at Internet, we found that no results are found on SVG FSA with the broker's name and licensed information. What's more, neither does Financial Services Regulatory Authority of Saint Lucia nor the Russian non-government organization FMRRC regulate forex brokerage activities. Therefore, Sander FX runs without any regulatory license. It means investors' funds in this broker is unsafe and cannot be protected by any laws.
What's worse, the UK's regulator FCA has issued a public warning against Sander FX. It shows that this entity has not been authorized to carry out investment services and activities in the UK as a result of a lack of the authorization. You can check full warning here.
As per the evidences above, our final conclusion is that Sander FX is thoroughly a scam on account of running its business without any relevant license approved by a reputable regulator. Therefore, we would recommend traders to stay away from unregulated brokers and trade with licensed brokers.
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