Abstract：Most traders who have opened accounts with Succedo Markets, a Saint Lucia-based brokerage entity, have reported withdrawal request denials after a pleasant first experience. Traders globally, including those from India, have made these complaints. Meanwhile, some traders have reportedly taken legal recourse to recover their stuck funds. The critical nature of these complaints made us share this in-depth Succedo Markets review. This review does not only examine user allegations but also shed light on its regulatory framework.
Most traders who have opened accounts with Succedo Markets, a Saint Lucia-based brokerage entity, have reported withdrawal request denials after a pleasant first experience. Traders globally, including those from India, have made these complaints. Meanwhile, some traders have reportedly taken legal recourse to recover their stuck funds. The critical nature of these complaints made us share this in-depth Succedo Markets review. This review does not only examine user allegations but also shed light on its regulatory framework.
ContentsWhy Succedo Markets Give a Suspicious Vibe?
Succedo Markets' website is not accessible. The website domain listed on WikiFX (https://succedomarkets.com/) shows this when pasting it on a web browser.
With an inaccessible website, the broker's credibility is allegedly at stake, raising concerns over investment safety.
What About Succedo Markets Trading Accounts?
The WikiFX team, however, found some trading details associated with Succedo Markets even though the broker has an inaccessible website. According to the report, the brokerage firm offers three accounts - Premium, ECN and Standard.
While the maximum leverage offered is 1:500 to Premium account holders, the minumum spread applicable to them stands at 1.8 pips. There is no commission applicable to this account.
The ECN account, on the other hand, comes with a maximum leverage of 1:200. The minimum spread here is considerably lower at 0.2 pips, while the commission charged is $7 per lot.
Like the Premium account, the Standard account has a maximum leverage of 1:500 and zero commissions. However, the minimum spread applicable to this account is 1.5 pips.
Top User Allegations Against Succedo Markets
A Complaint Involving Withheld Funds Worth $543
An Indian trader complained of a lack of access to withdraw funds worth $543 in this Succedo Markets review.
Multiple Withdrawal Request Cancellation Claims
Multiple Indian traders accused Succedo Markets of cancelling withdrawal requests after a successful first attempt. These traders have advised caution against investing in the platform. Take a look at some similar complaints.
No Withdrawals Despite Countless Emails and Screenshots
A trader reported hassles while withdrawing deposits and profits from the broker for over three months at the time of sharing the Succedo Markets review. According to the user, the broker claimed to have received no withdrawal requests. The user responded by stating that numerous emails and screenshots have been provided to the broker for a fund release. Also, the trader revealed that his withdrawal request was marked as 'Under Review' on its official website. The user reportedly expressed frustration by claiming a failure in accessing funds from the broker's platform. Take a look at this review.
Legal Assistance Sought for Fund Recovery
Some users even reported seeking help from legal firms to recover their funds. Here are those complaints that have emerged on review platforms.
Is Succedo Markets Real or Fake? Find Out in This WikiFX Report
The reported withdrawal issues point to a risky environment for forex traders on this platform. Additionally, no license is reported in the Succedo Markets regulation status check by the WikiFX team. This further raised concerns for users looking to invest in Succedo Markets. Considering elevated investment risks, the WikiFX team assigned the broker a score of just 1.85 out of 10.
Conclusion
Succedo Markets presents a risky option for traders. They are thus advised to stay away from investing in this platform. Also, the trading account details miss an important thing - no information on the minimum deposit required. Combined with an inaccessible website, the broker's reputation is arguably weak. Follow WikiFX, a renowned forex broker regulation inquiry app, for insightful investigation reports. Download now!
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