SungerFX shows on its page that it specialized in forex, index, crude oil, precious metals, futures and other financial derivatives trading for global traders. To be able to offer forex trading service, a broker must get necessary license from financial regulator. Checking its official website, the fraud claims to have regulatory licenses from FCA, CySEC and ASIC. However, there is no regulatory information about SungerFX can be found when we searched with its name on these three regulators' website. That means investors' funds in this broker is unsafe and cannot be protected by any laws. All in all, these means the fraud provides traders with forex trading services but it lacks any kind of regulation. Therefore, it is a scam.

BrokersView found both domains "https://www.sungerfx.com/" is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

On 7 Sep 2022, the Italy Commissione Nazionale per le Società e la Borsa (CONSOB) issued a warning that Sunger is not authorized to provide financial services in Italy. You may visit: https://www.consob.it/web/consob-and-its-activities/news-in-detail/-/asset_publisher/kcxlUuOyjO9x/content/press-release-of-7-september-2022/718268