Sunpor Group Limited is the name of a suspicious broker that runs business from the web address sunporgroup.com. They claim to be comprised of global financial technology elites with different background, experience, professional knowledge and skills.
Sunpor Group Limited- Scam or Not?
The broker is claiming to operate from Hong Kong and is regulated by the Australian Securities and Investments Commission (ASIC).
The last part is not true because according to our background checks, Sunpor Group Limited is not regulated by any financial watchdog in the aforementioned countries.
As a matter of fact, Sunpor Group Limited is cloning another company called Sunpor Group PTY LTD. Bear in mind how similar they names are.
Sunpor Group PTY LTD is actually licensed by ASIC in Australia but when you check their license number, you will see that it doesn’t match with the one provided at sunporgroup.com website.
Unlicensed entities often use names similar to legitimate companies to confuse investors.
If you want to trade Forex, you can find completely professional and regulated Forex brokers by visiting this page.
But you cannot trust Sunpor Group Limited with their empty claims. Let’s look at what other services and features they claim to offer.
Sunpor Group Features
Its official website says that Sunpor Group Limited is a broker established in Hong Kong. The company claims to partner with more than 22 top banks and liquidity providers, the fastest order transaction speed of 50ms, more than 47 of the world’s most active mainstream trading products and up to 400 times margin leverage.
Sunpor Group Limited did not disclose the minimum deposit required to open an account. Leverage is up to 1:300 and Spread is as low as 1.6 for the EURUSD Forex pair.
Sunpor Group Limited offers a metatrader platform that is available in both Pc and mobile versions.
MetaTrader 4 (MT4) is a trading platform developed by MetaQuotes in 2005. Although it is most commonly associated with forex trading, MetaTrader 4 can be used to trade a range of markets including forex, indices, cryptocurrencies, and commodities, via CFDs.
Sunpor Group Transparency
We could not find info on the founders or the team involved in this financial group. There is no location address, founding year details, phone number, and other relevant info.
For support, an online contact form is present. There is very minimal info disclosed about the service, the company, and other related info. The lack of broker transparency raises a red flag for this company.
Not to mention that Sunpor Group Limited has been blacklisted by the financial authorities in Hong Kong as an unlicensed entity, which makes it an illegal investment service.
Conclusion – Sunpor Group Limited Verdict
We’ve always said that traders should never fall for the tricks of unregulated brokers.
Sunpor Group Limited is clearly not regulated and trying to clone details of an already licensed firm.
So it is an illegal broker and based on the presentation of their website, we have a feeling that they will just scam you.
Our advice is that you should neither create an account nor send them any money.