website:https://sablefx.com/.Sable FX Global Limited claims to be a UK-based financial firm. Additionally it alleges to holds authorization from the National Futures Association (NFA) and an MSB registration with the Financial Crimes Enforcement Network (FinCEN) in the US.
A close check on the Financial Conduct Authority (FCA) website , we found no records to validate Sable FX Global’s legitimacy. Similarly, the NFA in the US does not authorize them to offer financial services.
NFA is the industrywide, self-regulatory organization for the U.S. derivatives industry. Designated by the CFTC as a registered futures association. NFA strives every day to safeguard the integrity of the derivatives markets, protect investors and ensure Members meet their regulatory responsibilities. But on close check sable fx global is not regulated by NFA as they state in their website. This is a clear red flag .
Sable FX Global limited provides no specific information on its trading platform. This absence of clarity is concerning. Reputable brokers typically use well-known trading platforms such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5) that offer advanced tools and security measures for traders. Hence, sable FX Global vague description of its platform creates doubts about its legitimacy and functionality.
Additionally, unregulated brokers often use proprietary platforms, which can be easily manipulated to impact clients’ trades negatively. Without a known and tested platform, it’s impossible to verify the integrity of trades or know if clients are trading on real market.
Pros and Cons of Sable FX Global limited
Pros
- Diverse Claims of Assets: Forex, cryptocurrencies, and potentially other markets could attract traders interested in multiple investment options.
Cons
- Unregulated: false claims indicating a lack of legal oversight.
- Unknown Platform: No information on the trading platform, which raises concerns about functionality and reliability.
- Unclear Withdrawal Process: No transparency around withdrawal requirements or fees, which may hinder access to funds.
- Vague Trading Conditions: No specifics on spreads or other terms, creating uncertainty for traders.
Of course I was duped by this company, thought I was with the right team as they claimed to be and then I invested all my life savings, realised I have been scammed after 3 weeks.