Sallix Capital claims to be the leading trusted forex broker. Our interest is piqued whenever a broker hypes itself because, usually, it’s scammers who do this to cover up their shortcomings. We wouldn’t have a problem with glossy statements or bragging except when this is used to lure unsuspecting investors into depositing money.  

If you intend to try online investment, be prepared for more than just profitable trading.   You may master all the skills to get good gains, but that is not always enough. If you fumble in the selection of brokers, you could fall into the trap of fraudsters who are always ready to pounce.

If you are wondering, there is a way to outmaneuver scammers. Being informed about the market dynamics is the first step. You should also conduct extensive research to ensure you settle for valid forex brokers.

The search should focus on a broker’s legal standing, client popularity, and regulatory status. It would be best if you also sifted through the broker’s legal paperwork to check whether the terms favor you. What we learned about this broker is shared in the review that follows. These and more are discussed at length in the review below.

Sallixcapital.com Review

The whois database reveals that the broker is a newbie in the market, having only registered its domain on 22 December 2022. Investing with such a broker would be risky since, besides not having a foothold in the market, you have no record from which you can infer.

 It also promises investors access to over 200 trading instruments, including forex, cryptos, indices, metals, energies, and shares. The alleged benefits include ultra-fast executions, competitive prices and spreads, deep liquidity, one-on-one training, and seasoned account managers. Also, investors allegedly get educational resources for seamless trading. True or not, the alleged benefits don’t make the broker any better than the next.

Besides trading services, the broker advertises an investment arrangement where brokers can deposit a specific amount and earn dividends 3 months later. However, you cannot withdraw this money before 3 months lapse. Otherwise, you lose your membership, which is unfair if you ask us. If you invest with Sallix Capital, you risk losing your money to the last dime.

Contact Details

This broker provided a corporate address indicating that it is in St Vincent and the Grenadines. Due to lax brokerage services oversight, this is an offshore location that rogue brokers are fond of.   If a broker pitches a tent there, it’s mostly because it has some underhand dealings.

 A good broker has solid customer care to address technical issues, general inquiries, or account management needs as and when needed. To this end, most have active telephone and email contacts. Not so Sallix Capital; the broker has not provided a telephone contact. This is unimpressive since you are unlikely to get timely assistance when in urgent need. It would be best if you didn’t waste time on this shady entity.

Deposit and Withdrawal Policy

Sallix Capital claims to accept credit and debit cards and wire transfers. However, we could not verify this since the broker prompts you to wait for the account manager’s response. We know the drill; the “account Manager” will direct you to some shady payment processor that is likely untraceable or manipulated to deposit more than you are willing.

The minimum deposit is not indicated. However, the minor withdrawal amount is 100 USD/GBP/ USD, 0.1 ETH, 1.5 LTC, 0.3 Dash, or 0.026 BTC. The withdrawal fee is 0.01 percent for cryptos, 5 percent for debit/credit card, 10 USD/EUR/GBP for bank transfers and SEPA, and 25 USD/EUR/GBP for other methods.

Accounts dormant for one month or those with less than 3 open positions for 100 USD/EUR/GBP attract a fee of 5 percent monthly, while those exceeding 3 months attract $10 monthly. The broker also levies a performance fee of 20 % of the fund’s profit. The fee is outrageous and unnecessary, considering the broker is already getting commission from your trades. A management fee of 2 % of the fund’s net asset value also applies annually.

Lastly, t verification fee is allegedly determined by the time investors take to submit the KYC documents. Why does the broker charge such an exorbitant fee? As for what the broker counts as late or timely submission. One thing is clear, most of the money you deposit will service the multiple deductions, and you will have little left to trade with; that’s if the broker doesn’t steal the rest!

Sallix Capital Regulation

Oddly, the broker admits to being unregulated. In its defense, the broker claims that its regulatory obligations are not any different from those that regulated brokers have. Cheeky and bold! This would have saved us a lot of verification trouble. But again, there is nothing to cross-check; the financial regulator in SVG-FSA doesn’t oversee forex or any other brokerage activity.

Investing with an unregulated offshore broker is courting frustration due to multiple investment disincentives. First, offshore brokers are immune from international prosecutions. You thus can’t take any legal action against such a broker even if it tricks you. Also, unregulated brokers do not offer zero balance protection or funds segregation. Subsequently, they can use the money however they please, and you are helpless. Lastly, you cannot be compensated for losses when the broker vanishes or goes bankrupt.

Trading Conditions

Sallix Capital claims to offer bonuses and special offers. However, investors need to attain a trading volume of 1 lot of the bonus to access funds. A standard lot is $100000, so the turnover requirement is bonus amount*bonus amount. This is a ridiculous turnover requirement that is hard to achieve. You will end up unable to withdraw anything. These extreme conditions are why most forex oversight agencies forbid awarding bonuses.

Also, the broker deducts a 20% insurance premium from the accessible account balance. It is not clear how the broker uses these premiums to help investors. We should also clarify that this insurance, if genuine, doesn’t cover you on broker’s insolvency.

Sallix Capital allows leverage up to 1:500. Despite the allure of high-leverage trading, know that t only takes a single move in the wrong direction to decimate your investment. As such, investors are recommended to be judicious when setting leverage. In the spirit of risk minimization, most regulators impose a leverage limit. Examples are IIROC and CFTC, who cap leverage at 1:50, or ASIC, FCA, and CySEC, restricting it at 1:30.

The broker’s spread is 0.3 pips. This spread is tight and within the 1.5 pips industry range. However, we can’t recommend this broker based on the strength of this parameter alone. Look for regulated brokers, and you might as well stumble on those offering spreads below 1 pip.

Sallix Capital Trading Platform

Sallix Capital offers a webtrader platform. While the platform is okay, it has vast functional limitations that keep you from leveraging trade opportunities. After getting that far, letting a shallow and underwhelming platform dampen your earning potential is where you should draw the line. Jump ship to regulated brokers offering platforms with endless possibilities.

The MT4 has handy features supporting multiple executions, advanced analysis, automated trading, and back-testing strategies. However, the MT5 is more advanced, resonating with all trader types’ needs. One of the most intriguing features of MT5 is the algorithmic trading option, enabling investors to execute automatic trading sessions using robots. This feature supports all typical features, including full-range trade orders (e.g., pending orders) and real-time quotations. 

The software features also enable you to forecast the price changes of financial instruments using methods from fundamental analysis. The MT 5 has more than 80 integrated indications and objects. Additionally, you have access to 100 available charts in different time ranges. As a result, you can look at both long-term market dynamics and short-term price changes.

Verdict

To sum it up, Sallix Capital is not a broker we can recommend, as it is no doubt a scam. The broker admits a lack of regulation, which is not surprising given its location. In addition, the broker has numerous outrageous fees aimed at milking investors dry. Much of your deposit will end up as a fee payment, going against the logic of investing in it.

The bottom line is valid forex brokers are your only key to progressive online investment. Take your time scrutinizing brokers until you find the one whose goals align with yours. When you do, play your cards right, and don’t forget to manage your risks. 

 

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