SGS (viefh.io) is a Contract for Difference (CFD) broker launched in June 2024, primarily offering CFD trading services in markets such as forex, commodities, indices, stocks, and cryptocurrencies for investors. The platform does not provide services to jurisdictions where doing so might violate local laws or regulations.
Overview of Platform Services
Trading Accounts
The platform does not disclose details about the types of trading accounts available, nor does it provide key information such as spreads, swaps/Islamic accounts, margin call levels, stop-loss margins, trading commissions, leverage ratios, minimum deposit requirements, minimum trade sizes, maximum trade sizes, maximum number of orders, execution speeds, and account currencies.
Trading Platform
Viefh.io has not explicitly announced the trading platform it offers; according to the official site, it is presumably its self-developed platform.
Trading Products
Forex: The currency exchange market between different countries, allowing investors to trade and invest through currency fluctuations.
Commodities: The trading market for raw materials or fundamental products like gold, oil, and agricultural goods, influenced by supply and demand as well as global economic factors.
Indices: Indicators measuring the overall performance of a group of stocks or other assets such as the Shanghai Composite Index and the S&P 500 Index, reflecting market trends.
Stocks: Represent ownership in a company; holding stocks makes you a shareholder with rights to share profits and participate in decision-making.
Cryptocurrencies: Digital currencies based on blockchain technology such as Bitcoin and Ethereum, characterized by decentralization and anonymity, with significant price volatility.
Deposit and Withdrawal Methods
The platform only accepts deposits and withdrawals in USDT, and does not accept credit card or bank transfer methods for transactions.
Contact and Social Media
The platform has not established official accounts on major social media platforms such as Facebook, Instagram, or Twitter. Additionally, it does not provide any contact methods like phone numbers or email addresses.
Company Background and Regulatory Information
According to publicly available information on the official site, SGS stands for Secure Global Synchronized FX, established in 2010, with headquarters in Australia and the USA. The brand is operated by two companies (Secure Global Synchronized FX LIMITED and SECURE GLOBAL SYNCHRONIZED FX PTY LTD), each regulated respectively by the United States Financial Crimes Enforcement Network (FinCEN) and the Australian Securities and Investments Commission (ASIC).
- Secure Global Synchronized FX LIMITED: Registered on June 23, 2024, located in Denver, Colorado, USA, with registration number 20241661867. It is also registered with FinCEN with MSB number 31000280982766.
- SECURE GLOBAL SYNCHRONIZED FX PTY LTD: Registered on September 20, 2024, located in Hurstville, New South Wales, Australia, with ACN number 680928910. On September 23, 2024, it became an authorized representative of STAR FUNDS MANAGEMENT PTY LTD, authorized to provide financial product advice, with ASIC AR license number 001311501.
Tips1: FinCEN registration does not equate to a financial license in the strict sense and does not involve qualification review or approval. Its regulation focuses mainly on anti-money laundering, with limited oversight in consumer protection and market manipulation. Due to the large number of regulated entities, FinCEN may be unable to adequately supervise and inspect all registered entities.
Tips2: Authorized representatives do not directly hold AFSL licenses. Instead, their regulation is primarily conducted through their license holders, potentially resulting in less stringent oversight compared to directly licensed entities. In cases of violation or dispute, the division of responsibilities between the authorized representative and license holder can be complex.
Conclusion
SGS (viefh.io) is a CFD broker that went live in June 2024. However, the platform lacks detailed disclosure about its trading account types and key trading information. Additionally, the two licenses it claims—FinCEN does not provide direct regulation, and ASIC's scope exceeds the authorized boundaries.
Risk Warning
CFD trading is high risk and may result in losses exceeding your initial investment. The leverage effect amplifies market volatility, making it unsuitable for all investors. Before engaging in trading, fully understand the associated risks, evaluate your financial situation, and risk tolerance. It is advised to seek independent professional advice if necessary.
