SGT Markets Review – Everything We Know About This Broker

In today’s SGT Markets review, we’ll take a look at this offshore broker and its operations. We’ll explore trading terms, license coverage, and more.

After you’re through with reading, you can make an educated decision about whether this broker is right for you. What’s more, you will understand the drawbacks of offshore licenses.

Also, look over our reviews of 10TradeFX, FXGiants, and T1markets.

Broker Status: Offshore Broker
Broker Regulation: FSCBVI
Known Broker Sites:
Operating Status: Active Forex trading platform
Complaints From Regulators: ASF
Broker Owner: Sterling Gent Trading Ltd
Headquarters Country: British Virgin Islands
Foundation Year: 2013
Trading Platforms: MT4, MT5
Mobile Trading: Available
Minimum Deposit: 500 USD
Deposit Bonus: The info should be on the broker website if no — N/A
Crypto Trading: Available – BTC, ETH, XRP
CFD Trading: Yes, you can trade CFDs
Trading Instruments: Forex, commodities, indices, shares, cryptocurrencies
Maximum Leverage: N/A
Islamic Account: Not Available
Demo Account: No, only live trading accounts
Accepts US Clients: US traders are accepted
Global Fraud Protection Team: Be careful when investing with this firm

Is SGT Markets a Legit Forex and CFD Broker?

SGT Markets is a Forex and CFD broker owned by Sterling Gent Trading Ltd. The company has its headquarters in the British Virgin Islands, with SGT Markets regulation being with FSC. 

The Financial Services Commission of the BVI belongs to a Tier 3 zone due to a lack of stringent demands. Namely, unlike Tier 1 authorities such as FCA, ASIC, and BaFin, FSC has low initial capital requirements, while trading firms don’t need to form a compensation fund. Simply put, there’s no money ready to reimburse potential victims.

With this in mind, let’s talk about leverage. While it can give you some advantages, as it increases your buying power, it also increases your chances of loss. That’s why the European watchdog, ESMA, set the limit to 1:30. The same limitation applies in Australia, while in the US, it’s slightly higher, standing at 1:50. On the other hand, SGT Markets offers starting leverage of 1:100, with unspecified maximum.

Now that you understand some bad sides of trading with offshore-based firms, let’s continue with regulatory oversight.

SGT Markets is currently registered in the British Virgin Islands and regulated by the local authorities. The Romanian ASF has banned the broker.

Official Warnings Against SGT Markets

In June 2021, the Romanian financial authority, ASF, issued an official warning against SGT Markets. The regulator stated this firm has no permission to offer financial services in Romania. Since this is an EU country, it implies that the SGT Markets broker has no authorization to operate anywhere in the EEA zone.

This is an official confirmation of malicious business practices – onboarding customers without proper licensing.

Where Does SGT Markets Find Customers?

On its website, SGT Markets brags about existing since 2006. However, their domain entered the GoDaddy WHOIS database in April 2013, while the second domain,, was registered in 2021. Furthermore, in the FSC BVI register, the licensing date is the 28th of October, 2022.

Our recent search for clients showed that the broker mainly onboards residents of:

  • India,
  • US,
  • UK,
  • Japan.

This complies with SimilarWeb traffic analysis showing that, while the broker doesn’t have as many visits, most are from India.

What Trading Platforms Are Available?

We’ll give some credit to the SGT Markets trading platform. Broker offers access to the two most popular software today, MT4 and MT5.

MT4 is an older MetaTrader version released in 2005. It has a lot of technical and analytical tools and plenty of charts, and supports advanced features such as EAs and social trading.

On the other hand, MT5 was released in 2009 as an improved version. The software has enhanced speed, more tools, and is user-friendly and easy to navigate. It’s the most popular platform amongst retail traders such as yourself.

SGT Markets Mobile App – Can I Download It?

SGT Markets mobile app is available for Android and iOS. However, iOS recently removed download links from its App Store. Therefore, Apple users can no longer use the MetaTrader platform unless they have downloaded it previously.

What Can You Trade With a Broker? – Trading Instruments

SGT Markets offers the following range of tradable assets:

  • Currency pairs – EUR/USD, AUD/CAD, NOK/SEK
  • Commodities – gold, silver, natural gas
  • Indices – AU200, FTSE100, DAX30
  • Shares – Amazon, BMW, BOA
  • Cryptocurrency CFDs – BTC, BCH, USDT.

Fees and Spreads Overview

Depending on the SGT Markets account type, you can expect a 1.0 to 0.0 pips spread with various commissions. On the Basic account, you’ll pay 6 BPs per side for crypto trading, while other accounts have $5-6 per lot for FX and metals or $12-30 per million, depending on the volume.

SGT Markets Account Types – What Can You Choose?

Speaking of accounts, here’s a detailed listing.

Individual accounts:

  • Basic – $100
  • Active – $1,000
  • Digital – $5,000
  • Digital Pro – $10,000

Each higher account includes more perks, such as crypto depositing, free hedging facilities, and lower fees. Just a few years back, customers needed to deposit $50, while today, the minimum amount is $500. It seems that inflation even hits trading businesses.

Professional accounts:

  • Pro Trader – $50,000
  • API – $5,000

With Pro Trader, you’re entitled to a dedicated client support manager and daily reporting.

Institutional accounts:

  • Corporate,
  • Fund Manager,
  • Portfolio Manager.

We’re unsure about the initial sums for these accounts, but each brings different perks for companies and other legal entities registering with SGT Markets.

Demo Account – Can I Trade For Free?

SGT Markets Offers Demo Account

You can choose the SGT Markets Demo account prior to paying the funds. It’s a 30-day free trial, where you can test different FX and CFD trading strategies. 

A Demo account is only available through MT4 as a Basic or Active account. Each simulates perks offered with a Live account of the same name. You will receive $100,000 in virtual funds regardless of your choice to check the broker’s offer.

How to Withdraw Your Profit From an SGT Markets Account?

SGT Markets withdrawal requests can be processed through one of the following payment methods:

  • Credit/debit card,
  • Wire transfer,
  • E-wallet.

The company says there is no minimum amount, while the maximum withdrawal is limited to $20,000. Additionally, the broker only works with Mastercard, meaning that Visa card users cannot choose this option but only a bank transfer. According to the website, the request will be processed within 72h, while it can take up to 14 business days for you to receive the funds. Seems rather long.

I Have Trouble With My SGT Markets Account, What to Do?

In case of any problems with your SGT Markets account, let us know. Global Fraud Protection has dedicated chargeback experts and CipherTrace crypto tracking specialists who will investigate your case.

If we find that you have grounds to request a refund, we’ll assist you with the necessary steps. Don’t wait too long. Let’s get your money back now!

FAQ Section:

Is SGT Markets a Legit Broker, and Should I Invest In It?

SGT Markets is an offshore broker with a Tier 3 license. In case of any unfortunate event, we may be able to assist you with the recovery procedure.

What Is the SGT Markets Minimum Deposit?

SGT Markets requires $500 for clients who wish to open a Live account.

How Long Do SGT Markets Withdrawals Take?

It takes 72h to process the request, plus additional 14 business days for you to receive the money.

The views and opinions expressed in these articles are those of the source and do not necessarily reflect the official position of ‘Fox on Law,’ which shall not be held liable for any inaccuracies presented. The information provided within this article is for general informational purposes only. While we try to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information in this article for any purpose.

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