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Sigwetcapital Review | An International Forex Broker or Scam?

by Kevin Berry
Rating: 
  1.3/5   Reviews: 3
Sigwetcapital - logo

Sigwetcapital is an international forex broker, which has received an average rating of over 4 stars online. The company has been operational since 2022 and has already managed to attain a trading capital of 275 million, open 4 offices, establish a team of 100 employees, and connect to 8 liquidity providers. Yes, it looks cool and impressive. However, is this truly the case? After all, the firm hasn’t obtained any license, and the trading conditions seem unfavorable at first glance. We believe this might be another scam project that traders shouldn’t take seriously. Why? Let’s delve into it.

Highlights

🏛️ Country United Kingdom
⚠️ Regulation
🖥️ Website https://www.sigwetcapital.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $5,000
⚖️ Minimum and Maximum Leverage 1:10-1:100
⚙️ Trading Platform WebTrader
📨 E-mail support@sigwetcapital.com
📞 Phone

First Impression of Sigwetcapital.com

The official website design of the broker didn’t impress us. On the main page, there’s some kind of tree, which is unclear what it could symbolize in trading. And there are no other graphic elements. The website structure is ordinary and typical. Sigwetcapital hasn’t brought anything new or unique, creating a standard and boring resource.

Sigwetcapital - site

The top panel of the website consists of the main sections: platform, accounts, classes of assets, company info, and education. Meanwhile, the text is filled with cliched phrases, pseudo-advantages, and meaningless sentences. Sigwetcapital didn’t try and provided potential clients with a tasteless and poorly-informative website. It only speaks of the company’s negligence and indifference to the user.

Partnership and Bonuses

The affiliate program at Sigwetcapital is not even mentioned, although when creating an account, you can enter some sort of promo code. Clearly, it hints at the presence of an affiliate program. Nothing is known about bonuses either, however, in the user document, a bonus system is mentioned once. It means that the broker does offer bonuses to traders. The catch is that no conditions are described or shown.

Account Opening on Sigwetcapital.com

Registering an account with the firm is a familiar and standard procedure, just like with many similar brokers. The broker requires you to provide your first and last name, password, email, and phone number, as well as the country, account currency, and promo code. Additionally, you need to agree to the terms of service and confirm that you are not a resident of the USA.

Registration

After creating an account, we expected confirmation of the email and phone number, but this was not necessary. It is a significant drawback in the Sigwetcapital security system. By the way, there is no demo account here. At least, we didn’t notice one. And that’s also a major downside.

The trader’s personal account interface is basic. The dashboard allows you to track trading dynamics, transaction and order history, upload documents for KYC, submit requests for deposits and withdrawals, and edit personal data.

Sigwetcapital - dashboard

It’s also worth noting that the firm doesn’t offer anything unique. It’s just a set of standard and minimally necessary features.

Verification

The process of uploading documents to Sigwetcapital for KYC, as mentioned earlier, takes place in the user’s personal cabinet. In this section, there are four columns for uploading the following documents:

  • Color copy of government-issued photo ID.
  • Proof of address dated from within the past 3 months.
  • Color copy of the applicable credit card used to deposit.
  • A document that must first be downloaded and then uploaded, but with the information already filled in.

Since Sigwetcapital adheres to the AML&KYC policy, verification is a mandatory procedure.

Pros
  • It’s convenient to upload documents.
Cons
  • Requires a lot of data.
  • Requires you to take a picture of your bank card.

Trading Software

Now let’s look at the trading platform of the broker. Sigwetcapital claims to offer trading on the well-known terminal called MetaTrader 5, but is that really the case? However, the webtrader interface clearly does not resemble MetaTrader, and links to mobile apps lead nowhere. When attempting to access the AppStore, the message reads “app is coming out soon to the App Store!”, and when trying to go to Play Market, it says “page not found”. So, where is MetaTrader? It’s unclear. Most likely, the company is simply misleading users.

Terminal

In reality, the trading platform at Sigwetcapital is a primitive webtrader with extremely limited capabilities. Such a terminal cannot be called professional and comfortable for trading. Traders can use classic technical analysis, indicators, pending orders, stop-losses, and take-profits. That’s where the terminal’s functionality ends. Clearly, such a platform is not sufficient for full-fledged and serious work.

Features Sigwetcapital AME Capitals Capitalex Pro
Demo Account
Mobile App ✔️
Own Development ✔️

How Can I Trade With Sigwetcapital?

Before us is a classic CFD broker that offers trading in currency pairs, metals, indices, commodities, stocks, and cryptocurrency. Depending on the type of account chosen, the set of additional services from Sigwetcapital will vary. Let’s examine the tariffs in more detail.

All Info About Accounts

Sigwetcapital offers users four account types:

  1. Classic. Minimum deposit $5,000. Tariff includes a personal account manager, semi-monitored account, 1 to 3 trading sessions a week, a trading signals group, a trading academy, and webinars. Leverage up to 1:10, and spreads 100 bps.
  2. Bronze. From $25,000. Same features, but additionally there are 5 protected trades. Leverage up to 1:25, and spreads 50 bps.
  3. Gold. From $100,000. It differs from the previous ones by having 1 on 1 sessions with our crypto hedge fund experts, as well as more favorable conditions.
  4. VIP. Zero spreads, leverage 1:100, prime trading signals group, VIP trading academy & webinars, and market insights & research. The required deposit is 1 million dollars.

Account types

So, ‌trading conditions can definitely be called inadequate, unprofitable, and non-competitive. Firstly, where does such a minimum deposit requirement come from? $5,000 is too high a threshold for the first replenishment. Especially considering the absence of a demo account. Secondly, who would agree to invest such significant amounts of money? The last tariff requires a staggering 1 million dollars – it sounds absurd. Thirdly, why aren’t commissions specified? Where is the Islamic account? Extortionate and unprofitable conditions. Comparable brokerage firms offer conditions that are several times more advantageous than those at Sigwetcapital.

Pros
  • None.
Cons
  • Very high minimum deposit.
  • Inadequate and unfavorable conditions.
  • No demo and Islamic account.

Market Analysis and Education With Sigwetcapital.com

Most additional services related to education and analytics require significant investments. Sigwetcapital offers for free a glossary, economic calendar, guides, articles, FAQs, and basic information about asset classes.

Deposit, Withdrawal, and Fees

It’s not surprising that the section dedicated to depositing and withdrawing funds is absent from the website. The company generally follows a policy of secrecy and opacity. Information about supported transfer methods can be found in the personal cabinet. These include bank transfers, Visa/Mastercard, and Bitcoin. The commission fees are unknown.

Features Sigwetcapital Nexon Groups NLM 86 Limited
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee

How Can I Contact It?

The only means to contact Sigwetcapital representatives and technical support is via email. However, one can also submit a request for feedback. At the same time, there is no phone number, online chat, or social media accounts.

Pros
  • None.
Cons
  • No phone, no social media accounts, and no online chat.

Is Sigwetcapital Dangerous?

One can already argue that the firm poses a threat to traders. There are some unrealistic trading conditions with a huge minimum deposit and the absence of a demo account, a templated website, and false information about the trading terminal. We still need to delve into the duration of Sigwetcapital’s operations and its licenses.

How Long Does The Broker Work?

So, the company indicates its founding date as 2022. Is this true? There are no registration documents on the website. However, checking the domain registration date revealed that the site only appeared in March 2023. How could an online broker operate without a website? Not at all, because Sigwetcapital actually only emerged in 2023. The information about 2022 is a lie.

Domain

How Is Sigwetcapital Regulated?

It’s no secret that licenses are the most important attribute of any brokerage organization. The firm assures us that it is based in the UK. However, the Companies House registry has no record for the name Sigwetcapital. Consequently, the Financial Conduct Authority does not regulate the broker’s activities. And it is yet another lie from the fraudsters. There is no office in London; it’s a fake.

Sigwetcapital - FCA

During our check, we found another interesting thing. Sigwetcapital is not the only scam project. There is a firm named Weinsteincorp, the official website (weinsteincorp.com) of which is identical to the site of the subject of our review. Here’s a screenshot; you can see for yourself. The same tree, the same sections, the same design and so on.

Sigwetcapital - clone site

How many such fake brokers are there, actually? It’s unknown. However, if you see a similar tree and conditions, it means you are dealing with an illegal company.

Features Sigwetcapital XFortunes CIX Markets
European Zone ✔️
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With Sigwetcapital?

All you need to do is register an account, upload documents for verification, and after that deposit funds. After that, you can start trading on the webtrader.

Is Sigwetcapital Legit?

The organization is not regulated, meaning it lacks licenses. Moreover, the broker provides false information about itself.

How Risky Is It?

You shouldn't trade with brokers who lie. Sigwetcapital has a 100% risk of losing money.
Kevin Berry
Ask question
Expert Opinion

Lying, listing non-existent advantages, and luring are the favorite tactics of fraudsters and scammers who want to scam trusting traders for money. Not only did Sigwetcapital not obtain a license, but they also lied about multi-million capital, registration in the UK, a large staff, clients from 100 or more countries, and having as many as 8 liquidity providers. On top of this, scambroker order fake positive reviews about themselves to deceive people more actively. In reality, it’s not hard to discern their fraudulent nature. Just perform a superficial fact-check, and it becomes clear that we’re dealing with a classic scam and rip-off. Don’t invest here.

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The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about Sigwetcapital

Pib September 14, 2023 - 00:48
Scammers don't withdraw money ...
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Yes… the broker doesn’t want to give me my money back… so I can confidently say that I’ve fallen into a scam… the organization is a fraud scheme, where they take money but don’t return it… it turned out to be a very expensive lesson, but what can I do… I’ve given my money to the scammers…

Reply
Gurman Arabich September 20, 2023 - 19:01
All positive reviews are fake
The level of trust
Quick withdrawal of funds
Efficiency of technical support

If you’ve seen positive reviews about Sigwetcapital, they are fake. 100%, guaranteed, it’s a fake. Scammers lie about everything. To boost their online reputation and lure someone into their trap, they purchase fake positive reviews. I’m warning you straightforwardly, so you don’t fall for fairy tales.
What we have here is a classic broker scam, and it’s not the only one of its kind. There are many such companies. All of them engage in scam and fraud. People lose money here, as it’s impossible to retrieve it. The platform, quotes, charts, legality – it’s all fake. Such is the sad review about this scam.

Reply
Munbraze September 29, 2023 - 12:47
Trade elsewhere, but not here.
The level of trust
Quick withdrawal of funds

It’s unlikely that you would be ready to trade with Sigwetcapital, as the minimum deposit here is $5000. That’s a significant and substantial amount. Let me let you in on a secret – there are brokers where you can try starting with just $10 in your pocket, and they have licenses, have been in business for over 10 years, provide insurance, and other guarantees. These guarantees are precisely what is lacking in Sigwetcapital. There’s no license here, no insurance. They mention 4 offices, but where? The registration in the UK is fake. You can easily check the Companies House registry and see that there’s no such company listed. No other addresses are given. Do you understand where I’m getting at? I’m saying that the broker is counterfeit and fraudulent. At the same time, these scammers are asking for a massive sum of money – $5000. Please, don’t trust these cheats and criminals. Don’t invest such amounts of money in scambrokers. Work with proven companies that have been around for a long time and hold state licenses.

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