Sonedex

Sonedex had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.

I closed a profitable position at Sonedex and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.

Tried to withdraw my funds from Sonedex and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.

I was about to invest with Sonedex 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.

I referred a friend to Sonedex when my bank disappointed me and I searched for alternatives. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.