SCG

SCG (scgmarkets.com) is a forex and CFD broker that was established on 27 December 2018. The company is registered in the United States, though its registered address is listed in London, United Kingdom at 27 Old Gloucester Street, WC1N3AX.

SCG presents itself as a multi-asset brokerage offering trading in currencies, metals, cryptocurrencies, and CFDs. The broker targets both high-net-worth individuals and institutional clients, as evidenced by its tiered account structure with substantial minimum deposit requirements.

Our records indicate that SCG does not hold any regulatory licence from a major financial authority. The broker is not listed with the FCA (UK), CySEC (Cyprus), ASIC (Australia), or any other well-known regulator. This absence of oversight is a significant factor in its FXCanary Scam Risk Score of 45 out of 100, classified as 'Guarded'.

Traders should note that the registered address in London does not imply UK regulation; the FCA register contains no entry for SCG under that name or address. The lack of a regulatory licence means there is no external oversight of the broker's operations, client fund segregation, or dispute resolution mechanisms.

SCG offers four distinct account tiers, all with a maximum leverage of 1:200. The entry-level account, Variable Spreads, requires a minimum deposit of $1,500. The Raw Spreads account demands $50,000 upfront, while both VIP and VIP+ accounts require a minimum of $100,000.

These high thresholds clearly target experienced traders with significant capital. The broker does not publicly specify spreads or commissions for each account type, but the naming convention suggests that Raw Spreads may offer tighter spreads with a commission, while Variable Spreads likely have wider spreads with no separate commission.

SCG provides access to four main asset classes: foreign exchange (FX), cryptocurrencies, metals, and contracts for difference (CFDs). The exact number of instruments within each class is not disclosed in our known records.

Cryptocurrency trading is available presumably as CFDs, allowing leveraged speculation on digital asset prices without owning the underlying coin. Metals likely include precious metals such as gold and silver, while FX covers major, minor, and possibly exotic currency pairs.

Given the high minimum deposits, SCG is best suited for high-net-worth individuals and institutional traders who are comfortable with large capital commitments and the risks of unregulated trading. The maximum leverage of 1:200 suggests that the broker is willing to accommodate aggressive trading strategies.

Less capitalised retail traders are likely excluded by the $1,500 minimum for the most basic account, which is higher than many industry entry points. Traders who prioritise regulatory protection or transparent fee structures may find SCG less suitable.

SCG's official country of registration is the United States, yet its registered address is in the United Kingdom. This dual-location structure can complicate legal jurisdiction for clients in case of disputes.

The broker does not appear to have a physical office in either location that is verifiable. Traders should exercise caution when dealing with firms that operate across multiple jurisdictions without clear regulatory standing.

In summary, SCG is an unregulated broker with high financial barriers to entry. Its background, based solely on known facts, lacks independent public information beyond what is provided in registry records. The absence of user reviews and verified regulatory status means that potential clients have limited means to assess the broker's reliability.

Traders considering SCG should conduct their own due diligence, particularly regarding fund safety and withdrawal processes, given the lack of external oversight.