Stainformation.com Review: this is the name of a Forex broker whose location is not disclosed. Is SENTA TRADE a scam Forex broker or legit?
We found that the company’s location is not disclosed. However, if it is in an offshore location we would strongly recommend against trading with them. Offshore locations have proven notorious for been the source of too many scams. Registration of business there can be done without being physically present. Regulations are lax there as well.
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Forex brokers in the Marshall Islands, Seychelles, St. Vincent and the Grenadines operate without a trustworthy license making it hard for traders to trust them.
It offers traders the chance to trade with confidence and benefit from ultra-low spreads. Since it works on any device, trades can be carried out anywhere. The app is available at all time as well with a user friendly user interface.
It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.
They list some of the things that set them apart and they are all linked to the broker claiming they want the best for clients.
SENTA TRADE trading Platform
There is no mention of the trading platform used by the broker. Some offer web based platform which are not compatible with many automatic trading software. This is why it is important to announce which one is used.
Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.
These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.
Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.
Trading instruments offered to traders are not listed but it mentions Forex and CFDS. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.
Maximum leverages offered is not also stated. It is a vital detail because while some may seem generous, it can pose danger as well. High leverages can lead to huge loss of funds as well. Spreads are also not stated.
Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.
Deposit and Withdrawal methods on SENTA TRADE
The means of making payments and withdrawals are not stated also. We find that of e-Wallets are likely to be missing, which is discouraging.
This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.
Minimum deposit required is not mentioned. It is difficult to know if it is within the obtainable average of $100 – $250 among brokers. Withdrawal charges are not stated for this broker. Sometimes it is better to mention if they apply or not. We do not even find any terms and conditions; this is a shady thing. Traders are expected to sign up for something with unclear conditions.
This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.
Is SENTA TRADE Regulated?
No. SENTA TRADE is not a licensed or regulated Forex broker. We find a mention of a registration from the NFA in the US but it turns out that this is false. Misinformation is used by this broker as a means to deceive clients, this is a red flag.
Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.
We do not find any mention of the means through which the broker or customer care can be reached. This is discouraging as information is lacking on the page and traders may want to know more.
Many details that we have come to characterize with legit brokers are missing on the website of SENTA TRADE. It is not encouraging that the broker tries to falsely claim that it is regulated by the NFA.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
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