SigmaBanc is not a licensed or regulated broker even though it states offers that look good to be true. SigmaBanc claims to be owned and operated by Primis LLC, a company registered in Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) with registration number 1860 LLC 2022.
We indeed found a macth result to this broker in SVG FSA. However, SVG FSA is not a forex regulator. It does not regulate forex brokers or issue forex licenses. Having registration or not, therefore, does not mean being authorized to provide financial services.
In addition, the broker also claims to be regulated in the United Kingdom, Canada, Danmark, Singapore and Australia. However, we searched the forex regulators in the above five countries but found no matching results.
Moreover, the company "Primis LLC" has been warned by the Spain Comisión Nacional del Mercado de Valores (CNMV) for twice. (Under the trading name: BBanc and Spotinvest)
The truth is, SigmaBanc is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like SigmaBanc and trade with licensed brokers.
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