Broker Review

Platform Overview

Succedo Markets is an online trading platform that offers access to various financial instruments, including forex, futures, indices, and stocks. The platform provides three types of trading accounts: Standard, Premium, and ECN, each with varying leverage, spreads, and minimum deposit requirements. Trading is facilitated through the MetaTrader 5 (MT5) platform, known for its advanced charting tools and automated trading capabilities.

Regulatory Status

Succedo Markets claims to be registered in Saint Lucia with an Investment Dealer license (No. 2023-00553). However, this registration pertains to an International Business Company (IBC) status, which does not equate to a valid financial services license. The Saint Lucia International Financial Centre (IFC), where the company is registered, does not regulate or license forex trading activities. Therefore, Succedo Markets operates without recognized financial services oversight, raising concerns about the safety of client funds and the integrity of its operations.

Operational Concerns

The platform’s website exhibits several operational issues, including broken links, non-functional buttons, and a lack of essential legal documentation such as a client agreement. These signs suggest a lack of professionalism and attention to detail, which are critical in the financial services industry.

User Feedback and Reputation

User reviews of Succedo Markets are predominantly negative. Multiple reports indicate difficulties with withdrawals, with some users claiming that after an initial successful withdrawal, subsequent requests were canceled or ignored. Such experiences are consistent with patterns observed in unregulated or fraudulent trading platforms.

Conclusion

While Succedo Markets offers a range of trading services and claims to provide access to various financial instruments, the lack of regulatory oversight, operational issues, and negative user experiences suggest that it may not be a reliable or secure platform for trading. Potential users should exercise caution and consider these factors carefully before engaging with the platform.