Syganica has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Sakvoli. We’ve received over 4 complaints against Syganica.
We suggest working with a trustworthy broker with specialized staff, latest tech and most importantly, customer-centric trading conditions. After reviewing 1000+ brokers, we rank the following company as the best:
Key Takeaways
Is Syganica Regulated? Do They Have a License?
Syganica is registered with financial regulators in Cyprus and Dubai, despite claiming to have its headquarters in Germany. In turn, the Terms and Conditions wording specifies that Vanuatu, an offshore zone, is the appropriate jurisdiction. Such discrepancies raise a serious red signal in and of themselves. However, it is perhaps more telling because Syganica remains anonymous. The name of the business that runs this purportedly licensed broker is not mentioned anywhere.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Syganica might be a scam or most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Syganica, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
According to a review of financial regulators’ records in each of the aforementioned nations, no broker with authorization is using the Syganica brand or domain name. Russia’s financial regulators have placed Syganica on a blacklist.
Without a doubt, this website is a fraud and not a reputable source of financial services. You have a lot more reliable possibilities if you have chosen to invest in financial products.
Selecting a company that is regulated by an organization, such as the Australian Securities and Investments Commission (ASIC), the UK’s Financial Conduct Authority (FCA), the US Commodity Futures Trading Commission (CFTC), or an EU regulator like Cyprus Securities and Exchange Commission (CySEC), is advised depending on your location.
Trading Conditions and Deposit/Withdrawal Methods at Syganica
However, it’s worth noting that many forex scams disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, shady forex brokers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
To avoid such scenarios, it’s best to work with a reliable and trusted broker.
The only payment methods accepted by Syganica are cryptocurrency deposits. This is how financial scammers usually operate. Their preferred method of payment is cryptocurrency since it gives the scammer some degree of anonymity while also preventing the victim of the fraud from demanding a refund.
Reputable brokers usually provide their customers with a large selection of clear payment options, such as bank transfers, credit/debit cards, and well-known e-wallets like PayPal, Skrill, or Neteller. Check out this list if you’re looking for reputable brokers who take payments in digital currency in addition to traditional payment options.
Currency pairs, cryptocurrencies, metals, commodities, equities, and indexes are all available for trading on Syganica’s platform. However, as mentioned, the trading that this phony broker offers is fraudulent. It is in your best advantage to make investments with brokers who are regulated and licensed.
Syganica Customer Service: Do They Handle Complaints Well?
When it comes to forex brokers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, shady brokers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Shady brokers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
Syganica Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Even if Syganica might not be a scam, brokers like them rely on fake reviews to increase their credibility.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust the online Syganica reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Syganica, chances are, you wouldn’t find many legitimate reviews.
Another prominent way brokers like Syganica enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Syganica reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Syganica.
You should always look out for consumer complaints. In the case of Syganica, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Syganica? You can share your complaint in the comment section or submit an anonymous tip.
Syganica presents itself as a regulated and award winning forex broker. But the truth is different – it’s an online scam identical to dozens of other similar fake brokers we’ve encountered. Let’s take a closer look at how to identify such scams and how you could find a trustworthy broker through which to take your first steps into financial trading.
Is Syganica Legit Or a Scam?
Syganica is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Syganica can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Syganica?
All the evidence suggests that Syganica might be a scam. You shouldn’t risk your funds with a broker you don’t fully trust.
That’s why we recommend working with a trusted broker. That way, you can avoid any hiccups and be certain of
Frequently Asked Questions
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How Forex Scams Work
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
