Sequoia Markets Ltd is a Contract for Difference (CFD) broker registered on May 2, 2024. This broker primarily offers foreign exchange and CFD trading services through the ST5 trading platform and its related mobile applications, and it does not provide services to jurisdictions where it might violate local laws or regulations.
Company Registration Information and Regulatory Status:
Public information on the official website of Sequoia Markets Ltd (sequoiaglobalforex.com) indicates that the broker's business entity is registered in the United States and regulated by the National Futures Association (NFA) of the United States, with an NFA ID of 0562707. Additionally, this entity has obtained a license from the Hong Kong Securities and Futures Commission (HKSFC), after being audited and approved to engage in Type 1 (Securities Trading), Type 4 (Advising on Securities), and Type 9 (Asset Management) regulated activities, with a license number BCZ158.
Upon verification, the National Futures Association (NFA) shows that the company registered under the number 0562707 is COMEX GROUP LTD, not Sequoia Markets Ltd, and this entity is registered as a non-member entity, not regulated by the NFA. Furthermore, a search on the official website of the Hong Kong Securities and Futures Commission (SFC) revealed that the enterprise with license number BCZ158 is Dantai Capital Limited, and there is no registered company named Sequoia Markets Ltd on the SFC. Moreover, the images and information of the global analyst team displayed on the homepage of this broker's website have been appropriated, with the pictures being reused and the names completely altered. For instance, the site's "Rodriguez Michael" is actually David Schwimmer, who is currently the CEO of the London Stock Exchange Group (LSEG) and also a member of the board of LSEG plc.
Account Opening:
To open an account with Sequoia Markets Ltd: Visit the broker's homepage and click on "Open an account" located at the top right corner of the page to enter the account registration page. Fill in your email address and set a password, then obtain a verification code sent to your email, enter the code, and submit. However, after submission, it will display "illegal request".
Trading Scheme:
Sequoia Markets Ltd has not disclosed any information regarding the types of trading accounts it offers, nor details of account spreads, trading leverage, margin calls/stop-out levels, trading commissions, minimum/maximum trading volumes, maximum open orders/positions, or minimum price precision on its official website.
Trading Platform:
Sequoia Markets Ltd provides the ST5 trading platform to its users, which includes both desktop and mobile versions.
Deposits and Withdrawals:
Sequoia Markets Ltd has not explicitly stated the deposit and withdrawal methods, fees, or minimum amounts on its website.
Summary:
Traderknows reminds investors that Sequoia Markets Ltd is a fraudulent website with opaque entity information, lacking any regulation, suspected of false advertising, and misappropriating information from other companies. It is recommended that investors choose brokers with transparent information, strong regulation, and good reputation for trading activities to avoid unnecessary financial losses.
Currently, this broker is flagged as "Suspected Fraud" on Traderknows.
