SGT Markets is a forex broker located in the British Virgin Islands, regulated by the BVI Financial Services Commission (BVIFSC).
SGT Markets accepts clients from all over the world, excluding USA and some countries from the OFAC list.
Forex broker offers the following underlying assets for trading.
|80+ Currency Pairs||Based on major and minor world currencies.|
|11 Indice Cash CFDs||Based on baskets of different blue-chip stocks.|
|2 Metal Spot CFDs||Based on Gold and Silver.|
|2 Energy Spot CFDs||Based on Crude Oil (WTI, Brent).|
SGT Markets is a forex & CFD broker registered in the British Virgin Islands and regulated by the BVI Financial Services Commission (BVIFSC). The broker has been operating since 2010, which gives it a certain level of credibility as an established company in the industry.
As an offshore forex broker that is only lightly regulated, SGT Markets is able to offer relatively high leverage of up to 1:400. And while this is somewhat less than what some other offshore brokers offer, it should still be more than enough for most traders who want to avoid getting their accounts wiped out.
Worth noting for those who consider signing up with SGT Markets is that this broker offers a bit fewer trading instruments than many other brokers we have reviewed here on FX-List. The selection includes about 80 forex pairs, most of the major stock indices, as well as a handful of commodities. What is missing, however, is single stocks, bonds, and cryptocurrencies, which we think would make the broker even better in the eyes of many traders.
As usual, all of the assets offered by SGT Markets are traded as CFDs, which makes it as easy to go short as it is to go long.
All of the instruments offered by SGT Markets are traded on the MetaTrader 4 (MT4) platform - the only trading platform this broker supports.
The MT4 platform is already very well-known among forex traders and probably does not need much of an introduction here. What could still be mentioned, however, is that it is one of the best platforms for traders who like to code their own trading algorithms, or test and trade with algorithms developed by others. To do this, the platform’s own programming language MetaQuotes is used.
In addition to using MT4, an option to connect third-party platforms using a FIX API solution from SGT Markets also exists.
In terms of account types to choose from, SGT Markets has one Prime account, which works as a classic ECN account with tight spreads from 0 pips and commissions of USD 6 per lot on all trades. In addition, there is also an STP-style account called the Direct account that offers commission-free trading and spreads from 1.0 pips.
The minimum deposit amount to open an account with SGT Markets is USD 2,000 for a Prime account and USD 1,000 for a Direct account.
Trading accounts can be funded with either Visa, MasterCard, International bank transfer, and the e-wallets Perfect Money, FasaPay and CashU. Interestingly, deposits with crypto are not accepted even though this is an offshore-based broker.
To reach SGT Markets, clients can call their UK-registered phone number, send an email, or use the live chat option on the broker’s website. Unfortunately, the broker does not state anywhere on its website what the working hours for its support team are, which makes us doubt they really offer 24-hour support.
All in all, we see SGT Markets as a classic offshore forex broker with medium-sized spreads and a decent - but not great - selection of trading instruments. A slightly annoying problem with the broker is conflicting information on different parts of its website. This is something that should be fixed for the broker to improve its image to potential clients.