SGP

SGP is a broker registered in the United Kingdom, with a stated founding date of 15 August 2022. Its official domain is sgpbinary.com, and its registered address is No. 1 Royal Exchange, London, EC3V 3DG, United Kingdom. The company describes itself as a binary broker, though independent public information about its operations is limited.

Our records indicate that SGP holds two regulatory licences: one from the UK's Financial Conduct Authority (FCA) and one from the Seychelles Financial Services Authority (FSA). However, the status of these licences is not specified in our files, and we have not been able to verify their current validity through independent public sources. This lack of verifiable information is a notable caution for potential clients.

According to the information on file, SGP is licensed by the FCA in the United Kingdom under a licence described as 'Inst Forex Execution (STP)' with licence number 768451, and by the FSA in Seychelles under a 'Derivatives Trading License (EP)' with licence number SD027. We cross-checked these details against public registers where possible, but the status of both licences is listed as '—' in our records, meaning we cannot confirm whether they are active, suspended, or revoked.

It is important to note that the FCA licence number 768451 appears in our records, but we have not been able to independently verify it against the FCA's public register. Similarly, the FSA licence number SD027 is on file, but its status remains unconfirmed. Traders should exercise due diligence and verify these licences directly with the respective regulators before engaging with the broker.

SGP describes itself as a binary broker, which suggests it offers binary options trading. However, our records do not include specific details about the trading platforms, account types, or instruments offered. The company's official website, sgpbinary.com, is not accessible in our review, and we found no verifiable social-media presence or independent reviews from users.

Given the lack of public information, we cannot confirm the range of products or services SGP provides. Potential clients should be aware that the absence of a verifiable website or social-media footprint is a significant red flag, as legitimate brokers typically maintain a transparent online presence.

SGP is registered in the United Kingdom, with a registered address at No. 1 Royal Exchange, London, EC3V 3DG. This address is a well-known commercial location in the City of London, but its use by SGP does not necessarily indicate a physical presence there, as many companies use virtual offices or registered agents at such addresses.

The company was founded on 15 August 2022, making it a relatively new entrant in the brokerage space. Our records show that SGP has no employees on file, which is unusual for an operating broker and may indicate that the company is a shell or that its operations are outsourced. This, combined with the lack of verifiable online presence, raises questions about the broker's operational substance.

In FXCanary's assessment, SGP presents a guarded risk profile, with a Scam Risk Score of 41 out of 100. This score is based on two key risk flags: withdrawal complaints in approximately 100% of recent reviews, and no verifiable website or social-media presence. These flags suggest that clients may face difficulties withdrawing funds, and that the broker's legitimacy is difficult to confirm.

We note that the company description in our records mentions that its regulatory status is listed as 'Suspicious Clone' in aggregated industry data. This is a serious concern, as it may indicate that SGP is an impersonator of a legitimate firm, or that its regulatory claims are not genuine. We advise traders to treat this broker with extreme caution and to verify all regulatory information directly with the relevant authorities before depositing any funds.

In summary, SGP is a UK-registered broker that claims to offer binary options trading, but independent public information is scarce. The regulatory licences on file are unverified, and the broker's online presence is minimal. The risk flags we identified, particularly the withdrawal complaints and lack of verifiable website, are serious concerns.

For traders considering SGP, we recommend conducting thorough due diligence, including contacting the FCA and FSA directly to confirm the status of the licences. Given the limited information and the guarded risk score, we would advise caution and suggest that traders explore more established and transparent brokers.