Sequoia Markets Ltd is a forex broker established in 2020, offering financial trading services in stocks, options, futures, currencies, bonds, and funds to investors, without disclosing its headquarter location. The broker does not provide services to jurisdictions where it may violate local laws or regulations.
Corporate Background:
Based in Greenwich, Connecticut, USA, Sequoia Markets Ltd employs over 2,900 staff across the United States, Canada, United Kingdom, Ireland, Switzerland, Hungary, India, China (Hong Kong and Shanghai), Japan, Singapore, and Australia. The official website domain of Sequoia Markets Ltd was registered on October 1, 2020, making it about 4 years old.
Founded by Chairman Thomas Peterffy, Sequoia Markets Ltd has grown internally over 46 years, with a capital exceeding 12.7 billion USD. In May 2023, Thomas Peterffy delivered a keynote speech at the Securities Industry and Financial Markets Association (SIFMA) event commemorating the 50th anniversary of listed options trading. The speech reflected on his experiences with listed options trading and the founding of Timber Hill and Sequoia Markets Ltd.
In fact, the above information has been plagiarized from the official website of the well-known American broker, InteractiveBrokers, without disclosing its own corporate registration or genuine regulatory information.
Regulatory Status:
Sequoia Markets Ltd claims to be regulated by the SEC (Securities and Exchange Commission), FINRA (Financial Industry Regulatory Authority), NYSE (New York Stock Exchange), FCA (Financial Conduct Authority), and other regulatory bodies worldwide. However, investigations reveal that the broker's official website does not disclose any regulatory license numbers, nor are there any regulatory records found with any of the regulatory authorities. Therefore, Sequoia Markets Ltd is an unregulated broker, meaning its financial product trading services such as stocks, options, futures, currencies, bonds, and funds are not overseen by any regulatory authority. The lack of regulation signifies an absence of oversight and protection over the company's actions, posing higher risks for customers trading with the broker.
Account Opening:
To open an account with Sequoia Markets Ltd, one needs to visit the broker's official website and click the “Register” button on the top right corner of the homepage to enter the account registration page. Fill in the account registration application form with necessary personal information and identity verification documents, and submit the application. After successful registration, you can log in to your account to trade.
Account Types:
Sequoia Markets Ltd offers various types of trading accounts, including individual accounts, joint accounts, retirement accounts, trust accounts, and institutional accounts. However, the broker's official website does not provide specific information about these accounts.
Trading Platform:
Sequoia Markets Ltd provides its users with a trading platform called GlobalEasy, covering desktop and mobile applications. This platform is not based on the common MT4 or MT5 trading platforms but is a proprietary software developed by the company. Using a proprietary trading platform carries certain trading risks, so traders should be vigilant and carefully assess and manage their trading behavior. Before choosing to trade on this platform, users should thoroughly understand the platform's features, security, and reliability to ensure their trading experience and fund safety are adequately protected.
Deposits and Withdrawals:
The broker's official website does not disclose the supported methods for deposits and withdrawals.
Contact Information:
The broker only offers customer support services via email. Customers can contact the broker by sending emails to not-reply@sequoiaconversions.com. This means that when customers need help or have questions, they can only communicate through emails and cannot receive immediate support through other channels such as telephone or online chat.
Conclusion:
Sequoia Markets Ltd is a forex scam platform that plagiarizes information from the well-known American broker, InteractiveBrokers. Sequoia Markets Ltd is unregulated, and its official website lacks transparency regarding key information like account types and deposit/withdrawal methods. Investors are advised to trade with regulated and reputable platforms to avoid unnecessary financial losses.
Currently, Sequoia Markets Ltd is marked as "suspected of fraud" on TraderKnows.
