SOPHIE CAPITAL is a total scam for the following reasons. When we check its website in English Ver, this broker claims to be established in the United States and regulated by the US National Futures Association (NFA) under NFA ID: 0550618. We indeed find a match result to this ID in NFA's registry, however, SOPHIE CAPITAL is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." SOPHIE CAPITAL doesn't satisfy these conditions.
Then when we check its website in Chinese Ver, this broker has a different statement of being registered in Australia. As per relevant law, to be able to operate in Australia or offer financial services to Australians, brokers are required to hold a valid Australian Financial Services (AFS) license issued by the Australian Securities & Investments Commission (ASIC). However, we did not find any match results for this broker in ASIC. That means this broker is not an approved broker in Australia.
The truth is, SOPHIE CAPITAL is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
SOPHIE CAPITAL is a total scam for the following reasons. When we check its website in English Ver, this broker claims to be established in the United States and regulated by the US National Futures Association (NFA) under NFA ID: 0550618. We indeed find a match result to this ID in NFA's registry, however, SOPHIE CAPITAL is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." SOPHIE CAPITAL doesn't satisfy these conditions. Then when we check its website in Chinese Ver, this broker has a different statement of being registered in Australia. As per relevant law, to be able to operate in Australia or offer financial services to Australians, brokers are required to hold a valid Australian Financial Services (AFS) license issued by the Australian Securities & Investments Commission (ASIC). However, we did not find any match results for this broker in ASIC. That means this broker is not an approved broker in Australia.The truth is, SOPHIE CAPITAL is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
