SONAF

SONAF is a retail forex and CFD broker incorporated in Cyprus and founded on 25 December 2018. The company operates under the official domain sonafx.com and is registered at 28 Oktovriou, 319 Kanika Business Center, Flat/Office 201B, 3105, Limassol, Cyprus.

As a Cyprus-based entity, SONAF is regulated by the Cyprus Securities and Exchange Commission (CySEC) under a Forex Execution License (STP). This license classifies the broker as an investment firm authorised to offer execution-only services in leveraged forex and CFD products to retail and professional clients within the European Economic Area.

SONAF holds a CySEC Forex Execution License (STP), which is a standard authorisation for brokers offering straight-through-processing execution. The regulatory framework in Cyprus adheres to MiFID II directives, providing clients with protections such as negative balance protection, client money segregation, and access to the Investor Compensation Fund (ICF) up to €20,000.

However, aggregated industry data indicates that the regulatory status of this broker may be limited or subject to scrutiny. FXCanary’s Scam Risk Score for SONAF is 31 out of 100, categorised as 'Guarded', suggesting that while the broker is licensed, there are factors that warrant caution, such as a relatively short operational track record or limited independent user feedback.

According to its regulatory authorisation, SONAF is permitted to offer leveraged trading on forex, indices, commodities, and other CFD instruments. The broker’s STP license implies that it passes client orders directly to liquidity providers without dealing desk intervention, which may appeal to traders seeking transparent execution.

Detailed information on specific account types, trading platforms, leverage options, and asset indices is not publicly detailed in the available regulatory disclosures. Prospective clients should consult the broker’s official website for current product offerings and terms.

SONAF appears to target retail and professional traders within the EEA who are comfortable with the risks of leveraged forex and CFD trading. The CySEC regulation provides a baseline of investor protection, but the broker’s limited public track record and lack of independent reviews may make it more suitable for experienced traders who can conduct their own due diligence.

New traders or those seeking a broker with an established reputation and abundant user feedback may prefer to consider alternative options with higher transparency and stronger community presence.