In this Sato4x review know why we added this broker to our scam broker list. Sato4x asserts a worldwide presence, with offices spanning Europe, including locations in Switzerland, the UK, France, Poland, and Spain. However, it is challenging to place faith in these claims as the website lacks proper licensing and authorization. To make matters worse, it exhibits all the telltale signs of a potential scam.
Upon closer examination, it becomes evident that this operation aligns with the characteristics of a common scam that preys on individuals lacking the necessary expertise and experience in the realm of financial markets.
Website – https://sato4x.com/
Address – Thurgauerstrasse 40, 8050 Zürich, Switzerland
EC2V 5DE, 50 Basinghall Street London, UK
Łucka 15, 00-842 Warsaw, Poland
C. Eloy Gonzalo, 27, 28010 Madrid, Spain
18-20 Quai du Point du Jour, 92100 Boulogne-Billancourt, France
Warning – Ontario Securities Commission (Canada)
Regulation – Unregulated, Blacklisted
Domain Age –
| Domain Name | sato4x.com |
|---|---|
| Date Registered | April 01, 2022 |
| Domain Age | 1 year, 6 months, 14 days, 19 hours, 25 minutes, 5 seconds |
Is Sato4x legit or a scam broker?
Sato4x has refrained from disclosing the identity of the purported broker’s parent company. Notably, the content within the Terms and Conditions, Privacy Policy, and various Sato4X documents does not make any reference to the name of a legal entity.
This conspicuous lack of transparency serves as strong evidence that Sato4x is unlikely to be operating within regulated jurisdictions, as it claims for countries such as Switzerland, the UK, Poland, Spain, and France.
To validate this assertion, we diligently checked the registers of the aforementioned regulatory bodies, yet no trace of a company or broker operating under the name Sato4x was to be found. This finding alone should be ample cause for skepticism, suggesting that you may be dealing with an outright scam.
Sato4x Review: Trading Platform
Sato4x touts an acclaimed, high-performing trading platform and goes as far as promoting the industry-standard MetaTrader 5 (MT5). Contrary to these claims, the MT5 offered for download on their website turned out to be an unbranded, generic, trial version of the platform, sourced directly from the developer’s website, MetaQuotes Software.
It’s crucial to emphasize that the mere existence of trading software doesn’t necessarily authenticate the legitimacy of a broker. Financial fraudsters frequently leverage trading platforms to deceive their targets into believing their funds are being genuinely invested.
Sato4x Review: Trading Conditions
Sato4X professes to provide a diverse array of trading account options. However, the descriptions detailing the terms associated with these accounts are both fragmented and conflicting.
These descriptions indicate a maximum leverage of 1:50, yet the website’s homepage asserts a level of 1:500, while the trading platform sets it at 1:200. This discrepancy strongly suggests that Sato4X may not operate as a regulated broker. It’s worth noting that trading with high leverage offers the potential for increased profits but also significantly elevates the risk of sudden and substantial losses in direct proportion.
The minimum deposit requirement stands at 250 CAD. It’s essential to recognize that, with a considerably lower amount, one could open a starter account with some of the industry’s most reputable brands. Additionally, the presence of bonus-related content in the Terms and Conditions further casts doubt on the legitimacy of Sato4X. The lack of clear information regarding the conditions linked to these bonuses is another piece of evidence pointing to potential fraudulent activities.
Deposit and Withdrawal Methods
The deposit menu in Sato4X remains inactive until the account is verified, a process that involves submitting a copy of one’s ID. The Sato4X website only offers limited information about payment methods, primarily mentioning that payments are channeled through the Chinese UnionPay system. However, we have reservations about whether Sato4X employs conventional payment methods like credit cards.
Sato4X indicates that customers are entitled to one fee-free withdrawal per month but fails to outline the fees associated with subsequent withdrawals.
Sato4x Review: Conclusion
You have the right to take legal action against fraudsters if you were duped by a Tradercr scam or any other fraudulent scheme. All you have to do is fill out the online complaint form, and our specialists will give you a free consultation outlining the actions you need to take to get your money back. Our top priority is your financial security, and we’re here to help you every step of the way.
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