Sunbird FX Review
Clients of SunbirdFX are offered a choice of several account types, all of which are said to offer NDD environment, micro tradeable lots, variable spreads and leverage up to 1:300. Managed Accounts, as well as Islamic (swipe-free) ones are also available.
While a minimum initial deposit of $100 is reasonable, the average spreads of SunbirdFX on the Standard account are above the average range of 1.0 – 1.5 pips on EUR/USD. Trading costs are lower on the Pro (ECN) account, however, we would not advise you to invest $5000 with this broker, as it is registered offshore.
The Company. Security of Funds
Spring Strategies Ltd.
Commonwealth of Dominica
SunbirdFX is a forex and CFD broker that uses the most common trading platform in the industry – the MetaTrader 4. According to the broker’s website, the company that owns and operates the brand is Spring Strategies Ltd. – a firm registered in the Commonwealth of Dominica.
Dominica is an offshore destination where some international banking regulations apply to all companies operating out of it, however, forex brokers are currently not regulated.
Doing business with unregulated (offshore) broker is extremely risky. That is why we advise traders to avoid such brokers and to select among brokers licensed by the respective authorities in the UK, or Australia for example.
Besides, the famous forexpeacearmy site (FPA) claims that SunbirdFX is blacklisted as a scam broker. So, you’d better stay away from it.
SunbirdFX offers its customers an array of trading platforms: the famous MetaTrader 4 (MT4) platform, available as desktop, web and mobile versions.
Besides, the broker enables it clients to fully automate their trading by mirroring the trades of expert traders via Signal Trader.
Bonuses & Rebates
At the time of writing of this review, SunbirdFX offers its clients 50% on-deposit welcome bonus.
Methods of Payment
SunbirdFX offers its clients the following payments methods: bank wire transfer, credit/debit cards, Qiwi, WebMoney, Moneta Ru, CashU, Neteller and more.
SunbirdFX is an offshore brokerage that claims to offer pure NDD trading environment on the MT4 platform. Our main concern with this broker is the fact that it is not regulated and is likely a scam.
Sunbird FX Review Conclusion
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