Salma Markets is a forex broker that was registered in Saint Vincent and the Grenadines on April 1, 2020, primarily offering investors trading services in foreign exchange, metals, indices, commodities, and cryptocurrencies. This broker does not provide services to judicial jurisdictions that may violate local laws or regulations, including but not limited to the USA, Canada, Sudan, Syria, and North Korea.
Company Registration Information and Regulatory Status:
According to publicly available information on the Salma Markets official website, it is registered in Saint Vincent and the Grenadines as Salma Markets LLC, with a specific registration address at Suite 305, Griffith Corporate Centre, PO Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines. The company registration number is 317. In Hong Kong, the entity is registered as Salma Markets (Hongkong) LLC, with a specific registration address at RM 1501 Millennium City 5418 Kwun Tong Road Kwun Tong, Hong Kong.
According to information obtained from Whois, the broker's official domain name was registered on June 14, 2021.
Verification reveals that the Financial Services Authority of Saint Vincent & the Grenadines (SVGFSA) has a record of an entity named Salma Markets LLC, with the registration number 317. However, the SVGFSA does not "regulate, monitor, supervise, or license" companies engaging in foreign exchange trading or brokerage businesses (BC). Its regulatory scope is limited to ensuring BCs comply with the obligations specified in the Revised Laws of Saint Vincent and The Grenadines, Chapter 149 of the Commercial Companies (Amendment and Consolidation) Act, 2009. No registered entity named Salma Markets (Hongkong) LLC was found in the Company Registry of Hong Kong.
Therefore, the financial derivatives trading business operated by this broker is not under effective regulation.
Account Opening:
Salma Markets account opening: Open the official website of the broker, click "Open Account" on the homepage to enter the account registration page, fill in your name, personal email address, phone number and other personal information as required and submit. After submission, the account can be successfully registered after verification.
Account Types:
Salma Markets offers users an STP Account:
- Trading Platform: MT4
- Mobile Trading: Supported
- Order Execution: Market Execution
- Minimum Deposit: 1 USD
- Maximum Deposit: Unlimited
- Swap: Charged
- Margin Call/Stop Out Level: 50% / 30%
- Maximum Leverage: 1:1000
- Minimum Trade Size: 0.01
Trading Platform:
Salma Markets offers the MT4 trading platform, with server hosting provided by Salma Markets LLC.
Deposits and Withdrawals:
Salma Markets supports deposits and withdrawals via Bank Central Asia (IDR), Mandiri (IDR), Bank Negara Indonesia (IDR), Bank Rakyat Indonesia (IDR), Fasapay, Mandiri Timor Leste (USD), BRI Timor Leste (USD), NETELLER, bank wire transfer, RHB Bank (MYR), Maybank (MYR), Public Islamic Bank (MYR), Cimb Bank (MYR), and more.
Summary:
Traderknows reminds investors that Salma Markets is an unregulated forex broker. Traderknows advises investors to choose brokers that are transparent, well-regulated and reputable for their trading activities, in order to avoid unnecessary losses of their assets.
Currently, this broker is marked as "suspected of fraud" on Traderknows.
