Sunanc review – Is Sunanc.net scam or safe?

Sunanc review – Is Sunanc.net scam or safe?

Sunanc.net Key Facts

🔴 Sunanc.net is a suspicious broker holding no license to operate as a Forex provider. Red flag!

🔴 Sunanc.net refuses to reveal important information about themselves. Red flag!

🔴 Sunanc.net co-hosts other suspicious, dodgy brokers. Disturbing sign!

Sunanc.net registration, license and regulation

Sunanc.net doesn’t disclose anything regarding their registration, license and regulation. We researched but found nothing about their legitimacy, so it’s an illegal broker which shouldn’t sell financial products and services to the public. Traders should only use regulated companies’ services because these companies are legit and reliable. The unregulated illegal brokers holding no license are thieves investors have to avoid.

Each broker presented in US have to be an NFA member and registered with CFTC.

The regulations in USA are quite heavy, compared to other domains. The capital adequacy requirement state Forex brokers have to provide minimum 20 million USD in paid-up capital to get a US license. Also clients’ funds should be kept in segregated accounts, making it impossible for brokers to misuse the capital for daily expenses.

The restrictions on Forex trading in USA includes a maximum allowed ratio of 1:50. Clients are also limited by the FIFO rule (first in, first out), meaning traders have to close their positions consequently. Hedging is also disallowed, which some traders might find restricting.

Sunanc.net address and contacts

Sunanc.net doesn’t reveal anything about their headquarter address and contact numbers. It’s only possible to reach them via e-mail, and that’s not ordinary for a true Forex broker. The legit FX companies are bound by the law to reveal who they are. This shady broker’s secretive nature indicates it might as well be a scam.

Sunanc.net website information

Sunanc.net has a Hong Kong IP address co-hosting the websites of 9 other shady Forex brokers. Sunanc.net was created on 09.05.2020, so it’s less than a year old at the time of writing. The age isn’t a problem itself, but it’s a worrying sign given the claims they make. We believe Sunanc.net is one of many brands designed by a group of shady individuals who want to rip people off their hard-earned money.

Cinda-securities.com, scforex.hk, bedbrook.net, werder.uk, hkkaiser.net, cheonan.uk, wanfuhk.com and  sunanc.net are also hosted on IP 101.36.118.158.

Scam warning

We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority. 

However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.

Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.

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