Sodefi.tech is a company that has been causing quite a stir in the trading community, with many traders reporting suspicious activity and concerns about the legitimacy of the company. In this article, we will review them and provide you with all the information you need to determine whether or not this broker is a scam.
Company Overview
Sodefi.tech is an online trading platform that claims to offer a range of financial services and products, including forex, CFDs, and commodities trading. The company is based in London, UK, and has a contact address in Seychelles. Their website claims that they provide traders with a user-friendly trading experience through advanced technology and personalized customer support.
Team
Sodefi.tech’s website does not provide any information about their team members, which raises concerns about the legitimacy of the company. A reputable trading company should provide information about its team members, including their names, qualifications, and experience.
Services or Products
Sodefi.tech claims to offer a range of financial services and products, including forex, CFDs, and commodities trading. However, the company’s website does not provide detailed information about these services or products.
Trading Platforms
Sodefi.tech claims to offer a user-friendly trading experience through advanced technology. The company’s website states that they offer both web and mobile trading platforms. However, it is unclear what trading platforms they use, which raises concerns about the security and reliability of their trading platforms.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
License and Regulations
License Status
Sodefi.tech claims to be licensed and regulated by the Financial Conduct Authority (FCA) in the UK. However, upon further investigation, we found that this claim is false. It is not registered with the FCA, which raises serious concerns about the legitimacy of the company.
Regulation Status
Sodefi.tech’s website also claims that the company is regulated by the International Financial Services Commission (IFSC) in Belize. However, the IFSC has issued a warning against them, stating that the company is not licensed or regulated by the IFSC. The warning advises clients to exercise caution when dealing with Sodefi.tech.
Why Dealing With Unlicensed Brokers Is Risky?
Dealing with unlicensed brokers can be extremely risky. Unlicensed brokers are not held to the same strict financial rules and regulations as licensed brokers, which means that they can engage in fraudulent activity without fear of punishment. In addition, unlicensed brokers do not offer the same level of client fund protection as licensed brokers, which means that client funds are at risk if the company goes bankrupt or engages in fraudulent activity.
Legal Warnings Against Sodefi.tech
As mentioned earlier, the IFSC has issued a warning against Sodefi.tech, advising clients to exercise caution when dealing with the company. In addition, the Australian Securities and Investments Commission (ASIC) has also issued a warning against Sodefi.tech, stating that the company is not licensed or authorized to provide financial services in Australia.
Client Feedback About Sodefi.tech
About Trading
Sodefi.tech did not have a good record of providing good trading experience. Their issue regarding the account ban and withdrawal problem is popular with the previous users.
About Customer Service
Another drawback of this broker is their customer service. You cannot find any customer service option to contact the. You will either signup and they will contact you or you need to just wait to find any option.
How Can Reviewsadvice Help You If You Get Scammed?
If you have fallen victim to a scam broker like Sodefi.tech, Reviewsadvice can help. We will provide you with a free consultation and service recommendations to help you in recovering the lost money.
Final Thoughts
Sodefi.tech is a company that has been causing concerns in the trading community due to its lack of licensing and regulation. If you are considering trading with Sodefi.tech, we strongly advise you to exercise caution and consider a reputable, licensed, and regulated broker instead. Remember, if you have been scammed by a broker, resources like FXfarmupdate can help you report the scam and potentially recover your funds.
