Slingbitify is a Contract for Difference (CFD) broker registered on November 22, 2023. This broker offers a wide range of trading markets through platforms such as MT4, MT5, and cTrader, including forex, commodities, indices, bonds, cryptocurrencies, stocks, and futures. It does not operate in the United States, Canada, Israel, New Zealand, Iran, and North Korea.
Company Registration Information and Regulatory Status:
Public information on Slingbitify's official website shows that it is registered in Seychelles as Raw Trading Ltd, with the registration number 8419879-2. This entity is authorized and regulated by the Seychelles Financial Services Authority (FSA), license number SD018.
Verification on the Seychelles Financial Services Authority (FSA) official website indicates that Raw Trading Ltd is a business entity registered by the broker IC Markets in Seychelles, approved by the FSA with the websites https://www.icmarkets.sc and https://www.icmarkets.com. Thus, Slingbitify is a fraudulent website posing as IC Markets.
Furthermore, this broker's website design plagiarizes IC Markets, similar to other fraudulent brokers like Linoxx, ExpertSync, Continentaloptionslive, Venosvista, Fenext, and Elon-Mining.
Opening an Account:
To open an account with Slingbitify: navigate to the broker's official website homepage, click on “Start Trading Now” or “Start Trading” at the top right corner of the webpage to access the account registration page. Fill in personal information such as name, email address, phone number, and set a login password before submitting. Once submitted, the account is successfully registered.
Trading Accounts:
Slingbitify offers three different types of trading accounts: cTrader Account, Raw Spread Account, Standard Account.
cTrader Account:
- Trading Platform: cTrader
- Trading Commission (per lot): $3.0 (round turn $6.0)
- Spreads: From 0.0 pips
- Minimum Initial Deposit: $200
- Leverage: Up to 1:1000
- Maximum Orders per Account: 2000 lots
- Server Location: London
- Micro Lot Trading (0.01): Supported
- Currency Pairs: 61
- Index CFD Trading: Supported
- Stop Out Level: 50%
- One-click Trading: Supported
- Islamic Account: Available
- Allowed Trading Styles: All
- Order Distance Limit: None
- Programming Language: C
Raw Spread Account:
- Trading Platform: MetaTrader
- Trading Commission (per lot): $3.5 (round turn $7.0)
- Spreads: From 0.0 pips
- Minimum Initial Deposit: $200
- Leverage: Up to 1:1000
- Maximum Orders per Account: 200 lots
- Server Location: New York
- Micro Lot Trading (0.01): Supported
- Currency Pairs: 61
- Index CFD Trading: Supported
- Stop Out Level: 50%
- One-click Trading: Supported
- Islamic Account: Available
- Allowed Trading Styles: All
- Order Distance Limit: None
- Programming Language: MQL4
Standard Account:
- Trading Platform: MetaTrader
- Trading Commission (per lot): $0.0
- Spreads: From 0.6 pips
- Minimum Initial Deposit: $200
- Leverage: Up to 1:1000
- Maximum Orders per Account: 200 lots
- Server Location: New York
- Micro Lot Trading (0.01): Supported
- Currency Pairs: 61
- Index CFD Trading: Supported
- Stop Out Level: 50%
- One-click Trading: Supported
- Islamic Account: Available
- Allowed Trading Styles: All
- Order Distance Limit: None
- Programming Language: MQL4
Trading Platforms:
Slingbitify's official website claims to offer trading platforms like MT4, MT5, and cTrader, but it does not provide download links, nor can the broker named Slingbitify be found on these platforms.
Deposits and Withdrawals:
Slingbitify supports deposits and withdrawals using credit/debit cards, e-wallets, and bank transfers.
Summary:
Traderknows warns investors that Slingbitify is actually a scam website that impersonates the broker IC Markets. Investors are advised to choose brokers who are transparent with information, strongly regulated, and have a good reputation to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Fraud" on Traderknows.
