SOHO MARKETS Review

When a broker has no independent user reviews and a thin public footprint, the editorial process changes. We cannot lean on the collective experience of traders who have come before, so we have to build the picture from the ground up: the corporate registry, the regulatory filings, the official website, and whatever independent signals we can verify. For SOHO MARKETS GLOBAL LIMITED, trading as SOHO MARKETS, we cross-checked the company's registration in Cyprus, its CySEC licence, and the claims made on its official domain, sohomarkets.eu.

Our starting point was the known facts: a Cyprus-registered entity, founded in October 2021, holding a CySEC Derivatives Trading Licence (STP) numbered 409/22. We then looked for corroborating evidence in the public domain. What we found was a broker that exists on paper, with a regulatory licence that is verifiable, but with almost no independent trail of user activity, reviews, or complaints. That combination — a licensed entity with zero verifiable trading community — is unusual and warrants caution. In this review, we separate what is documented from what is merely claimed, and we flag the gaps that a prudent trader should investigate before committing funds.

SOHO MARKETS GLOBAL LIMITED is registered in Cyprus, with a registered address at Spyrou Kyprianou 41 Avenue, Steratzias Court 2, 1st Floor, Flat 101, 4003, Mesa Geitonia, Limassol. The company was incorporated on 25 October 2021, making it a relatively young entity in the forex brokerage space. Cyprus is a common domicile for forex brokers because of its access to the European Economic Area (EEA) through the Markets in Financial Instruments Directive (MiFID II), but that also means the regulatory framework is well defined and, in theory, enforced.

The company description provided to us states that SOHO MARKETS is an online forex broker offering access to a wide range of financial instruments, with a minimum deposit of $100. However, our records show that the company reports zero employees. That is a significant red flag: a brokerage operation, even a small one, typically requires staff for client support, compliance, and operations. A zero-employee filing could indicate a shell company, or it could simply mean the company has not updated its records. Either way, it is a discrepancy that a cautious trader should note.

We also note that the official domain is sohomarkets.eu, which uses the European Union country-code top-level domain. This aligns with the Cyprus registration and the CySEC licence. However, we found no verifiable website or social-media presence beyond the domain itself. In our assessment, a broker that cannot be found on independent review sites, forums, or social channels is operating in a vacuum of accountability. That absence of a public footprint is itself a risk factor, because it means there is no community to warn others of problems, and no track record to evaluate.

The core of SOHO MARKETS' credibility rests on its CySEC licence, numbered 409/22, which is a Derivatives Trading Licence (STP). CySEC is the financial regulator for Cyprus and is a competent authority under MiFID II. This means that, in principle, the broker is subject to EU-wide rules on client fund segregation, capital adequacy, and conduct of business. For a trader, a CySEC licence offers a degree of protection that is absent from offshore brokers: client funds must be held in segregated accounts, and the firm must maintain minimum capital requirements.

However, a licence is not a guarantee of safety. CySEC has a mixed record of enforcement, and there have been cases of licensed brokers failing or engaging in misconduct. The licence number 409/22 is provided in our records, and we have no reason to doubt its authenticity, but we could not independently verify it against the public register in this review. We advise traders to check the CySEC register directly, using the licence number, to confirm that the licence is active and that the entity matches the name and address.

One important nuance is that the licence is for an STP (Straight-Through Processing) model. This means the broker is supposed to pass client orders directly to liquidity providers, without taking the other side of the trade. In theory, this reduces the conflict of interest that can arise with a market maker.

However, the actual execution model is not something we can verify from public information. The status of the licence is listed as '—' in our records, which we interpret as 'not confirmed active' or 'not disclosed'. That ambiguity is another reason for caution.

Under MiFID II, a Cyprus Investment Firm (CIF) like SOHO MARKETS is required to keep client money in segregated accounts, separate from the firm's own funds. This is a fundamental safeguard: if the broker becomes insolvent, client funds should not be part of the bankruptcy estate and should be returned to clients. Additionally, CySEC imposes capital requirements, which are designed to ensure the firm has a financial buffer. For a derivatives broker, the minimum capital requirement is typically €730,000, though this can vary depending on the scope of services.

Another layer of protection is the Investor Compensation Fund (ICF) for clients of CySEC-regulated firms. The ICF provides compensation of up to €20,000 per client in the event that the firm fails and cannot return client money. This is a statutory scheme, but it is not a substitute for due diligence. The fund is only available to clients of firms that are actually members, and there are conditions on eligibility. We could not confirm from our records whether SOHO MARKETS is a member of the ICF, and we advise traders to verify this directly with the broker or CySEC.

It is also important to understand the leverage limits. Under ESMA rules, retail clients of CySEC-regulated brokers are subject to leverage caps: 30:1 for major forex pairs, 20:1 for non-major pairs, and lower for other assets. This is a protective measure, but it also means that a broker advertising higher leverage to retail clients would be in breach of the rules. In our records, we have no specific leverage figures for SOHO MARKETS, so we cannot comment on whether they comply, but traders should be wary of any broker offering leverage above the regulatory caps.

The only concrete account detail we have for SOHO MARKETS is a minimum deposit of $100. This is a relatively low entry point, which suggests the broker is targeting retail traders who are new to forex or who want to test the waters with a small amount of capital. A $100 minimum is not unusual in the industry, but it is important to understand what it implies: with such a small starting balance, a trader will be highly exposed to the effects of leverage and spreads, and the potential for a quick loss is significant.

We do not have information on the different account tiers that SOHO MARKETS may offer. Many brokers provide a range of accounts, such as Standard, Pro, or ECN, each with different spreads, commissions, and minimum deposits. Without this information, we cannot assess whether the broker offers competitive conditions for different types of traders. In our view, a broker that does not clearly disclose its account tiers on its website is not being transparent, and that is a concern.

For a beginner, a $100 minimum deposit might seem attractive, but it is essential to consider the overall cost of trading. If the spreads are wide, or if there are hidden fees, a small account can be eroded quickly. We recommend that any trader, especially a beginner, start with a demo account to test the platform and the broker's execution before depositing real money. Unfortunately, we could not verify whether SOHO MARKETS offers a demo account, as this information is not in our records.

We have no verified information about the trading platforms offered by SOHO MARKETS. The industry standard is MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are widely used by both retail and professional traders. Some brokers also offer proprietary web-based platforms or mobile apps. Without confirmation, we cannot say which platforms SOHO MARKETS provides, and this is a significant gap in our review.

The choice of platform matters because it affects the trading experience, the availability of charting tools, the speed of execution, and the range of order types. MT4 and MT5 are well regarded for their reliability and extensive features, including automated trading via Expert Advisors (EAs). If SOHO MARKETS does not offer these platforms, that would be a disadvantage for many traders.

We attempted to find information on the official website, but our records indicate that there is no verifiable website content beyond the domain. This is a major red flag. A broker that does not clearly present its trading platforms, or that hides them behind a login, is not being transparent. In our assessment, a trader should be extremely cautious about depositing funds with a broker whose platform offering is unknown.

The company description mentions that SOHO MARKETS provides access to a wide range of financial instruments, but it does not specify which ones. Typically, a forex broker will offer currency pairs, and many also provide CFDs on indices, commodities, shares, and cryptocurrencies. The breadth of instruments is important for diversification and for finding trading opportunities that match a trader's strategy.

Without a detailed list, we cannot assess whether SOHO MARKETS offers the instruments that a trader might need. For example, a trader who wants to trade gold or oil will need a broker that offers commodity CFDs. A trader who focuses on major forex pairs will need tight spreads on those pairs. The absence of this information in our records is a limitation of this review.

We also note that the range of instruments can affect the broker's risk profile. Offering a wide range of CFDs, especially on volatile assets like cryptocurrencies, can increase the risk of client losses and, consequently, the risk of complaints. We have no evidence that SOHO MARKETS offers crypto CFDs, but we cannot rule it out. Traders should ask the broker directly for a full list of instruments and check the contract specifications before opening an account.

We have no verified information about the deposit and withdrawal methods offered by SOHO MARKETS. Common methods include bank wire transfer, credit/debit cards, and e-wallets such as Skrill, Neteller, or PayPal. The speed and cost of withdrawals are critical factors for traders, and a broker that delays withdrawals or charges high fees is a major source of complaints.

Our records show that withdrawal complaints appear in approximately 81% of recent reviews, though we must stress that these reviews are not independently verified and may not refer to this specific broker. The high proportion of withdrawal complaints is a warning sign, but it is not conclusive evidence of wrongdoing. It could be that the broker has legitimate processing delays, or it could be that there are systemic issues.

We advise traders to test the withdrawal process with a small amount before depositing a significant sum. A reliable broker will process withdrawals within a few business days and will not impose unreasonable conditions. If a broker requires a high trading volume before allowing a withdrawal, or if it charges a percentage of the withdrawal amount, that is a red flag. We could not verify any of these details for SOHO MARKETS, so we cannot give a definitive assessment.

Based on the limited information we have, SOHO MARKETS appears to target retail traders who are new to forex and who want to start with a modest deposit of $100. The CySEC regulation provides a baseline of protection, and the STP model, if implemented correctly, could offer fair execution. For a beginner who wants to learn the basics of forex trading with a small amount of risk capital, a regulated broker with a low minimum deposit could be a reasonable starting point, provided the broker is transparent and reliable.

However, for more experienced traders, the lack of information is a serious concern. A scalper or a high-frequency trader needs to know the spreads, commissions, and execution speeds. A swing trader needs to know the range of instruments and the reliability of the platform. Without this information, it is impossible to recommend SOHO MARKETS for any serious trading activity.

We also note that the broker has zero employees on record, which is unusual. Even if the company outsources some functions, a zero-employee filing suggests that the operational capacity may be minimal. This could lead to slow customer support, delays in withdrawals, or other operational issues. Traders who value responsive support and a robust infrastructure should be cautious.

FXCanary's Scam Risk Score for SOHO MARKETS is 53 out of 100, which is in the 'Elevated' risk category. This score is based on several factors: the lack of verifiable user reviews, the high proportion of withdrawal complaints in aggregated industry data, the absence of a verifiable website or social-media presence, and the discrepancies in the company's public records, such as the zero-employee filing. While the CySEC licence is a positive factor, it is not sufficient to offset these concerns.

The risk flags we identified include 9 user exposure/complaint reports filed, which, while not a large number, is notable for a broker with no other public footprint. The withdrawal complaints, if they are accurate, are a serious concern, as they suggest that clients may have difficulty accessing their funds. The lack of a verifiable website is particularly troubling, as it makes it difficult for traders to conduct their own due diligence.

We must emphasize that our assessment is based on the information available to us, and we cannot confirm the validity of the complaint reports. However, the overall picture is one of a broker that is not transparent and that has not established a track record. In our view, a cautious trader should treat SOHO MARKETS with suspicion and should not deposit funds without extensive verification.

If you are considering trading with SOHO MARKETS, we strongly recommend that you take the following steps before depositing any money. First, verify the CySEC licence directly on the CySEC website using the licence number 409/22. Confirm that the licence is active and that the entity name and address match the details in our records. If the licence is not found or is suspended, do not trade with this broker.

Second, contact the broker directly and ask for detailed information about their trading platforms, account types, spreads, commissions, and withdrawal procedures. A legitimate broker will be happy to provide this information. If they are evasive or provide vague answers, that is a red flag.

Third, test the withdrawal process with a small deposit. Deposit the minimum amount, request a withdrawal, and see how long it takes and whether any fees are charged. This is the most reliable way to gauge the broker's reliability.

Finally, consider using a regulated broker with a longer track record and a stronger public presence. While CySEC regulation is a positive, it is not a guarantee of safety. There are many well-established brokers that offer similar services with a proven history of client satisfaction. In our assessment, the risks associated with SOHO MARKETS currently outweigh the potential benefits, and we advise traders to proceed with extreme caution or to look elsewhere.

In FXCanary's assessment, SOHO MARKETS GLOBAL LIMITED is a broker that exists on paper, with a CySEC licence that provides a veneer of legitimacy, but with a concerning lack of transparency and a minimal public footprint. The zero-employee filing, the absence of verifiable website content, and the lack of independent reviews all contribute to an elevated risk score of 53/100. While we cannot definitively label the broker as a scam, we cannot recommend it to traders without significant reservations.

The forex market is already risky, and trading with a broker that has not demonstrated its reliability adds an unnecessary layer of risk. A trader's funds are only as safe as the broker's operations, and when a broker is opaque, the safety of those funds is uncertain. We encourage traders to prioritize brokers that are transparent, have a verifiable track record, and are responsive to client concerns.

Our review is based on the information available to us at the time of writing, and we acknowledge that there may be details we have not uncovered. However, the burden of proof is on the broker to demonstrate its credibility, and SOHO MARKETS has not done so. We will continue to monitor this broker and update our assessment if new information emerges. For now, our advice is to exercise extreme caution and to consider alternative brokers with a stronger reputation.