Saoxdex has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
The hidden fees at Saoxdex are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Low minimum deposit|Smooth onboarding|API access
Cons: Limited demo account features|No integrated tax optimization
Customer support at Saoxdex seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Quick verification|Portfolio tracking tools|Automated trading options
Cons: Limited social trading features
Saoxdex locked my account without warning and demanded documents I had already submitted. for a couple of months now later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Demo account available|Transparent fees|Segregated accounts|Educational resources
Cons: Cannot customize dashboard fully|Help articles are sometimes vague
My card was charged twice by Saoxdex on the same day. I had to dispute it with my bank. Saoxdex then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Good analytical tools|Clear documentation|Economic calendar
Cons: Limited cryptocurrency options
I had high hopes for Saoxdex through word of mouth in my investment club, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Smooth onboarding|Real-time alerts|Risk management tools
Cons: Inactivity fee applies after 12 months|Email notifications too frequent
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Saoxdex is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Lost entire investment|Reported to authorities|Unresponsive
Saoxdex has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Portfolio tracking tools|Real-time alerts|Fast execution|Low minimum deposit
Cons: Minimum deposit could be lower|Withdrawal takes 1-2 business days
I was about to invest with Saoxdex but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Pros: Website looks legitimate on the surface
Cons: Not registered with regulators|Unrealistic promises