SDMarket: reviews of former clients about the company’s work in 2022
Real work experience is one of the key factors in trusting a financial organization. This is understood by both professional investors and those looking for easy money by inflating their experience. One of such companies, judging by the reviews, is SDMarket. The company claims to have 11 years of successful operation behind it, but in reality, it has been functioning for only a few weeks. In our review, we will detail why it is worth being cautious with this intermediary.
Key facts about SDMarket
MARKET by SDmarket provides the following data:
- 110,000 trading accounts,
- 385,000 daily transactions,
- 150+ assets for trading,
- $50 million daily trading volume.
It would be possible to believe in such impressive numbers if the company had actually been operating for 11 years. However, SDMarket provides false information about its experience. Checking the domain history revealed that the sd-market.com website was launched in 2011. Although the site has some age, until recently it was operating as a Chinese online store.
Pay attention to the domain update date – October 3, 2022. Obviously, MARKET by SDmarket started its operations from this time. It is from this moment that the first reviews about the company appeared.
Information about the project’s top management is missing. Upon reviewing the company’s internal documents, it becomes clear that there are no opportunities for earning and profit withdrawal. The company reserves the right to change terms without notice, disclaims financial responsibility, and has imposed penalty sanctions for violating the user agreement.
For communication with MARKET by SDmarket employees, only an email address or feedback form is available; other communication methods are absent. According to reviews, when financial problems arise, company representatives ignore inquiries.
Legal basis for operations
SDMarket claims to be officially registered in London (UK) and even provides a legal address. However, a check on Google Maps revealed that the provided coordinates are fake. In fact, other organizations are located at that address.
In the Companies House database, there are many companies with similar names, but there is no SDmarket registered at the specified address in London.
The company MARKET by SDmarket also claims to have obtained licenses:
- in Cyprus (CySEC),
- in Belize (IFSC),
- on the island of Mauritius (FSC).
However, the check showed that none of the mentioned regulators have information about SDmarket. Such an approach by the company violates international legislation.
Trading opportunities
MARKET by SDmarket promises to use its own trading terminal. However, according to reviews, the software is anonymous and was created by scammers to deceive investors. Earning here is almost impossible.
Traders are offered access to more than 150 assets (currencies, digital coins, stocks, metals, commodities, and global indices). A demo account is not provided, and minimum losses amount to $1,000. The main features include:
- minimum deposit from $1,000 to $50,000,
- fast execution of trading orders,
- leverage from 1:5 to 1:20,
- some contracts provide access to PAMM, trading in metals, digital assets, indices, and ETFs, absence of swaps. Also, when replenishing the balance with an amount exceeding $50,000, insurance and account manager assistance are provided.
Reviews and deception
Reviews about SDmarket appeared only in October 2022, and there are few of them at the moment. However, based on this feedback, it can already be concluded that trusting this financial intermediary is not recommended.
If you have experience working with MARKET by SDmarket, we invite you to share your reviews. Your honest assessment will help others avoid financial losses!
Conclusion
SDmarket doesn’t even deserve the title of a broker, as the company only simulates trading. A fake intermediary has no access to liquidity providers, so exchanges do not cooperate with such a company. MARKET by SDmarket engages in financial fraud, deposit withdrawals, and refusal to pay clients. Turning to regulators will not yield results, as they have no legal authority over such fake brokers. The likelihood of recovering money is zero.
I recently had the opportunity to work with SDMarket in 2022, and I must say that my experience was less than satisfactory. While the company initially appeared to be competent and knowledgeable, I found that their work fell short of my expectations.
One of the main issues I encountered was a lack of communication and follow-through from the SDMarket team. There were multiple instances where promises were made but not kept, leading to delays and frustration on my end. Additionally, the quality of the work delivered did not meet the standards that were promised during the initial consultation.
Overall, I was disappointed with my experience working with SDMarket in 2022. I believe that there is room for improvement in terms of communication, project management, and overall quality of work. I hope that the company takes this feedback constructively and uses it to make positive changes in the future.