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Sterling Gent Trading Ltd. (SGT Markets) is a Forex and CFD broker that provides trading solutions for experienced and novice traders using various trading technologies.
SGT Markets was established in 2006. The company’s services include liquidity provision, as well as execution of transactions on Forex, CFD, metals, oil, and stock indices. The company is licensed, authorized, and regulated by the British Virgin Islands Financial Services Commission.
Trading conditions
SGT Markets’ trading platforms are MetaTrader4 and MAM/PAMM. MetaTrader4 provides access to Expert Advisors (EAs), as well as automatic buy and sell orders. For such purposes, the MT4 SGT Market client terminal is used. SGT Markets also offers its clients the mobile version of trading platforms available for iPhone, iPad, Android, as well as Windows Trader. As for MAM/PAMM, it allows clients to manage multiple accounts at once and helps to distribute capital and transactions between various accounts freely.
Trading instruments:
- Forex
- metals
- energy
- single shares
- additional commodities (cocoa, coffee, cotton, sugar)
Types of trading accounts
| Characteristics | Direct | Prime |
|---|---|---|
| Minimum deposit | $500 | $1000 |
| Spreads | floating from 0.9 pips | floating from 0.0 pips |
| Leverage | 1:400 | 1:400 |
| Commission fee | no | $6 per lot |
| Minimum trade size | 0.01 lot | 0.01 lot |
| Trading platform | MetaTrader4 | MetaTrader4 |
The company has a set of Application Programming Interfaces (APIs) that enables automated trading of currencies, precious metals, as well as CFDs on commodities, indices, and bonds. For those who top their accounts with $5,000, SGT Markets offers an opportunity to open a FIX API account. It is designed for institutional and big clients looking to access market leading liquidity directly and at low prices. Importantly, SGT Markets only provides FIX API accounts to those clients who make a $5,000 minimum deposit and pass standard verification.
Withdrawals and deposits are made via Visa, MasterCard, Neteller, Skrill, Bank Transfer, Perfect Money, WireWallet, and FasaPay.
Support service
To obtain necessary information, clients can contact the company's support service by phone, e-mail, or live chat.
Feedback
There are both negative and positive reviews about SGT Markets. Dissatisfied traders note hidden fraudulent actions made by the company’s representatives. Apart from that, they complain about the inability to withdraw their funds, as well as spread manipulations and online chat’s malfunctions. Satisfied users, on the contrary, pinpoint instant withdrawal of funds, as well as responsive and timely support from the company’s customer service.
Pros and cons
Advantages:
- plethora of trading instruments
- licensed and regulated broker
- good deposit options
- lack of requotes
- scalping
- Expert Advisors
- hedging opportunity
- favorable trading conditions
- access to news and trading signals
- educational materials
Disadvantages:
- unfavourable minimum deposit
- large deposits to minimize commissions
- lack of opportunities to insure funds
