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SigmaForex.com Review

Updated: Jun 16, 2015
SCAM
1.192 · 17 REVIEWS
Is this your company?

CONFIRMED SCAM FINDING
2010-01-21: SigmaForex has cut off contact and is not returning money owed to a trader. Because of this and other issues, the FPA has confirmed a scam finding against this broker. Sigma Forex is hereby blacklisted by the Forex Peace Army. We recommend against opening or funding accounts with this broker. If you have an account with them, we wish you luck on withdrawing your funds.

WARNING
The FPA believes there is a very high probability that SigmaForex is the same company or shares the same owners as ForexGen.

July 2010 Update: Sigma's website has been down for some time now. We believe that this brokerage is finally dead.  Beware, they could come back under a different name.

 

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Court cases

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  • Resolved0
  • Not guilty0
  • Guilty1
Case IDFiledCase nameVerdict
20102010-01-21FPA Scam Confirmation against SigmaForex.comguilty

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Scam!
1.192 · 17 REVIEWS
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FPA Scam Investigations Committee,
USA,
Jan 21, 2010,
Guest

Issue escalated to Traders Court FPA Scam Confirmation against SigmaForex.com | GUILTY
For failing to return money legitimately due to a trader and a number of additional reasons, the FPA declares SigmaForex (aka SigmaRex) to be a scam.

Please follow the link to the article for more details.

More. Community discussion of this issue >>

finimej,
sweden,
Sep 1, 2009,
Guest

I have received all the funds that was in my trading account at SigmaForex today on 2009-09-01. My signed withdraw was sent in on the 2009-06-30, and money received to my bank account on 2009-09-01.

Scam Investigations Committee Note: It took 49 business days and numerous efforts by the one of the FPA's investigators to persuade Sigma to turn over this trader's money.


2009-07-29 1 Star I am unable to withdraw initial funds from SigmaForex Non Dealing Desk account. The account trading can be monitered at
http://goodies2.mt4live.com/

I received final statement for my account funds is 2776.99 EUR on 2009-06-29. I then sent in formal withdraw request form sent in on 2009-06-30. I received SigmaForex confirmation that withdraw form is processed on 2009-07-18.

SigmaForex first deducted the 2700 EUR from my account on 2009-06-29 cl 14:11 and then put the funds back on the 2009-07-14. cl 13:08.

There is no reply to my withdraw email to SigmaForex backoffice, and their chat is hardly to get contact with. The telephone number on their webside is not contactable.

I am unable to withdraw initial funds from SigmaForex Non Dealing Desk account. The account trading can be monitered at [url=http://goodies2.mt4live.com/]MT4Live.com - Share Your MT4 Statements Free[/url]

I received final statement for my account funds is 2776.99 EUR on 2009-06-29. I then sent in formal withdraw request form sent in on 2009-06-30. I received SigmaForex confirmation that withdraw form is processed on 2009-07-18.

SigmaForex first deducted the 2700 EUR from my account on 2009-06-29 cl 14:11 and then put the funds back on the 2009-07-14. cl 13:08.

There is no reply to my withdraw email to SigmaForex backoffice, and their chat is hardly to get contact with. The telephone number on their webside is not contactable.

So I need FPA help me to get my funds back, at least to get my initial deposite 2000EUR back to my bank account.

Until I get my funds back to my bank account, I consider SigmaForex is a company that you shall NOT send your money to.


More. Community discussion of this issue >>

gp,
USA,
Jul 15, 2009,
Guest

Very disappointed with this broker- opened account and had bank wire sent for deposit, with information printed out from Sigma. After two weeks no deposit appeared in account, bank said the deposit minus $20.00 was bounced back due to being sent to a closed account. Sigma blamed bank, but never remedied anything despite a few attempts to ask for any reason why this happened.
Makoto,
Japan,
Jun 13, 2009,
Guest

Hello, I am sure that David Aruna's post is of Sigma itself.

DO NOT TRUST.
There are no one who defend their broker on behalf of the broker.

At first they even denied my money remittance itself and claimed that money was not arrived at their bank.

Next They recorded my money on MT4 account.
But they soon claimed that they misunderstood otherperson's moey as my money, and cancelled the deposit record.

Next they send us PDF file as the evidence that they returned my money to my bank.I confirmed the fact with Sigma's bank, but their evidence was false.

I sent them all the solid evidence but they did not show us nothing only saying foolish explanation like a child.

Review Moderation Team Note: Makoto's money was eventually returned after one of the FPA's investigators spent an excessively long period of time assisting Makoto with negotiations.

David Aruna,
Nigeria,
Jun 12, 2009,
Guest

I have used this broker and I enjoy there service. My withdraw is ok, its only take 2-4days to get effect in bank. Guys I was supervised to hear all what you are saying here. Because its almost 2 years now and No problem so far. they have 3 different categories of account which each have different rules
1.They have Standard account you can open it with $1000 and get 1 pip spread for 15 pairs
2.The other type is Expert account which you can open it with $2500 and 2-3 fixed pip spreads.While
About the last type of account is VIP account which you can open it with $10,000 and get ZERO pip spread for 15 pair.
Although am running VIP account with them and since last 2 years things has been good for me and them.

Please guys proof me wrong if am sleeping, so I withdraw my money from them and run away. Please dollar is very expensive here in my country.
Thanks All.


Scalping is not allowed on unscalping account while on scalper account u can scalp and die with it. i love there spreads absolutely good and okay between 0-2 maximum.

Review Moderation Team Note: The FPA has dealt with a large number of issues involving lengthy delays in withdrawals from SigmaForex. We are glad to see that you have better success dealing with them than the other traders we have heard from.
Rick,
France,
Jun 10, 2009,
Guest

I have been trying to get back my deposited funds from Sigma for over a month now, and they keep stalling. (I never actually made any trades with them, so it is just a withdrawal of the same amount I deposited.) I have posted a lengthy explanation in the Scam Alerts section and am filing a scam ticket with FPA. I hope this can be resolved quickly.
Makoto,
Japan,
Jun 6, 2009,
Guest

I finally got my money back from this broker with help of FPA.
But it took about 6 month from initial complaint.

This broker were really dishonest and can not be trust.
Don't do business with them.You never see your money at your hand.

2009-06-08 Update: Sigmaforex's Adress is "OVRE MASAN 5 1383 ASKER NORWAY". I got this from advice of money remittance from Sigma. If this is same with Forexgen, Sigma is completely scam.

Andrew,
USA,
Apr 6, 2009,
Guest

During 2 months I tried my deposit to appear on a account but
Sigma made another "improvement" and now they accept wire transfers without posting them to account and every time you send them a proof of payment, they ask for another 1-2 days and this procedure repeats every time without ending.
I'm going to report that case to London or Swiss office of Interpol financial and high-tech crimes department and advice to do the same to all people who lost their money with Sigma.
http://www.interpol.int/public/FinancialCrime/default.asp
This is only a chance to recover our money.
Makoto,
Japan,
Mar 24, 2009,
Guest

I want ask FPA to treat this broker as scammer as soon as possible not to generate more victims.
These posts are enough to determine that Sigma is fraud.
Evidence I submit to scam alerts folder can prove and represents all victims here.

I also reported this issue to UK Police and FSA UK.

I expect Sigma to be investigated by the authority.

It is important to gather enough evidence, but it is more important to prevent generating victims any more.

June 2009 update: Makoto finally got his money from Sigma.

Charlie,
Singapore,
Mar 2, 2009,
Guest

Sigmaforex is a big Scammer. On 15 Jan 2009, I deposit US$600 to my forex trading account at Sigmaforex (www.sigmaforex.com).
By 11 Feb 2009, my account increased to US$1142.92 and I requested partial withdrawal of US$700, then on the same day, I found all the US$1142.92 in my aaccount was withdrawal by Sigmaforex without any notice to me. After this, I received an email which forced me to sign a agreement to close my account (they said I violated their trading rules) after receiving my initial deposit US$595. I signed this agreement and sent back to Sigmaforex and waiting their refund my initial deposit US$595. However, 20 days passed, they have not sent me my money.
I sent many emails to Sigmaforex and chat with the live support, but they never response and always find excuses to delay the withdrawal. NEVER BE WITH SigmaForex, They are just cheater and scammer!