SFOCL is a financial services company with its corporate domain registered on July 10, 2024, located at 999 15th St, Denver, Colorado, USA. Although it claims to be regulated by the US MSB and NFA, actual inquiries reveal that the platform is not regulated by the NFA. Additionally, SFOCL does not provide detailed information on key trading parameters on its official website. This lack of transparency may raise serious doubts among investors about its reliability and legitimacy. Investors should exercise extreme caution when considering trading with SFOCL.
SFOCL's Corporate Background:
SFOCL is a financial services company with its corporate domain registered on July 10, 2024. The company is located at 999 15th St, Denver, Colorado, USA. Due to its relatively short registration period, investors should thoroughly verify SFOCL's background information and regulatory status to ensure the safety and legality of their funds when choosing to use its services.
SFOCL's Regulatory Information:
SFOCL claims to be regulated by the US MSB (Money Services Business) and NFA (National Futures Association). However, actual inquiries show that the platform is not regulated by the NFA. MSB is a category managed by the Financial Crimes Enforcement Network (FinCEN) under the U.S. Treasury Department, covering businesses like currency exchange and money transfer, but it does not specifically regulate forex trading. The NFA is a self-regulatory organization responsible for supervising forex brokers, but it has no record of SFOCL regulation. This means that SFOCL is not overseen by any genuine financial regulatory authority, posing higher risks to investors' funds and trading activities due to a lack of necessary protection and guarantees. Therefore, investors are advised to exercise extreme caution and thoroughly verify the platform's background and compliance status before choosing to trade with SFOCL.
SFOCL's Account Registration Process:
- Log in to the SFOCL website and click the registration button.
- Fill out the application form.
- Submit identity verification/my number verification documents.
- Deposit funds and start trading.
SFOCL's Account Types:
SFOCL offers two main account types to meet the needs of different traders:
Standard Account
- Products: Various commodities, including cocoa and soybean CFDs (Contracts for Difference)
- Leverage: Up to 400:1
- Minimum Spread: Starting from 1 pip
- Commission: $0.005 per transaction
- Minimum Deposit: $1000
ECN Account
- Products: Various commodities, including cocoa and soybean CFDs
- Leverage: Up to 400:1
- Minimum Spread: Starting from 1.0 pip
- Commission: $0.005 per transaction
- Minimum Deposit: $1000
These two account types provide flexible options for traders. The Standard Account is suitable for general traders, while the ECN Account offers more professional trading conditions.
SFOCL's Trading Software:
SFOCL's trading software claims to be usable on all internet-enabled devices, including computers, tablets, iOS, and Android devices, enabling traders to monitor and adjust their strategies anytime, anywhere. However, despite the advertised cross-device compatibility, a lack of detailed information and user feedback makes it difficult to assess its actual performance and reliability.
When selecting a trading platform, the stability and security of the software are crucial. SFOCL does not provide specific technical details or third-party verification to prove the quality and security of its trading software. In addition, there is no detailed description of the user interface, operational experience, or quality of technical support, which significantly impacts traders' practical experience.
SFOCL's Trading Products:
SFOCL offers a variety of financial trading products to meet the diverse needs of investors and provide ample investment opportunities. Below are the main categories of trading products offered by the platform:
- Forex: SFOCL provides a comprehensive range of forex trading services, covering major, minor, and some exotic currency pairs. The forex market, being the largest financial market globally, allows investors to profit from exchange rate fluctuations by trading pairs such as EUR/USD, GBP/USD, and USD/JPY.
- Precious Metals: SFOCL also offers trading products in precious metals, primarily gold and silver. The precious metals market is favored by investors for its hedging properties and long-term value. Investors can preserve assets and hedge risks by trading spot gold (XAU/USD) and spot silver (XAG/USD).
- Commodities: Besides precious metals, SFOCL offers other commodity trading products, including energy products like crude oil and agricultural products like cocoa and soybeans.
By offering these diversified trading products, SFOCL provides investors with a wide range of investment choices, helping them flexibly allocate assets according to market conditions and personal investment strategies to achieve financial goals.
What are SFOCL's Spreads, Leverage, and Commissions?
SFOCL's official website does not disclose detailed information about key trading parameters such as spreads, trading leverage, trading commissions, minimum/maximum trading volumes, maximum position/order sizes, margin call levels, stop loss levels, minimum price accuracy, and contract sizes. The lack of information on spreads and trading commissions makes it difficult for investors to accurately assess trading costs, while the unspecified leverage ratios add to the uncertainty of trading risks. Additionally, the absence of detailed data on trading volumes and margin levels makes traders face considerable uncertainty and potential risks when choosing to use the SFOCL platform. This lack of information may lead investors to question the platform's reliability and transparency. Therefore, potential users should exercise extreme caution and consider looking for more transparent and reliable trading platforms before deciding to trade with SFOCL.
What are SFOCL's Deposit and Withdrawal Methods?
SFOCL offers various deposit and withdrawal methods to meet different investors' needs, including cryptocurrencies, NETELLER, Skrill, bank transfers, and MasterCard.
SFOCL's Customer Support:
Email: info@sfocl.com
Conclusion:
SFOCL's lack of transparent registration information, regulatory records, and undisclosed key trading parameters bring numerous uncertainties and potential risks for investors. Such an operating approach casts doubts on the platform's reliability and increases the risks to investors' funds and trading activities. Therefore, potential users should thoroughly verify the platform's background and compliance status before deciding to trade with SFOCL and consider looking for more transparent and credible trading platforms to ensure their interests are not compromised. SFOCL is listed as "Suspected Fraud" on TraderKnows.
