SAMCO

marcustan

1-2 años

How legitimate do you consider SAMCO to be, according to user reviews and your own assessment?

WikiFX Respuesta

As an experienced forex trader who evaluates brokers primarily by their regulatory status, operational history, and risk indicators, I am concerned about SAMCO’s legitimacy, especially for those seeking safety and accountability. From my own assessment and considering the data available, SAMCO's lack of valid regulatory oversight is an immediate red flag. Operating with a "suspicious regulatory license" and no official regulatory index score suggests that clients would have limited recourse in the event of disputes or issues. This aspect alone places the broker in a high-risk category for me, because regulation is a fundamental layer of trader protection and transparency. While SAMCO has been active for five to ten years and does offer a wide variety of trading instruments, platforms, and tools, I cannot overlook the high risk warnings and low score that accompany their profile. Extensive user access to analytical tools and helpful customer support channels is positive, but these features do not compensate for regulatory shortcomings. For traders like me, especially those managing significant capital, peace of mind comes from trading with brokers that are subject to strict oversight and clear accountability. Therefore, my position is cautious: while SAMCO is operational and offers a range of services, I would not consider it a legitimate or low-risk option in the forex space due to its present regulatory gaps and warning signs.

Broker Issues

SAMCO

Regulation

08-26

Estados Unidos

Pushpender Sharma

1-2 años

What documents do I need to provide to process my initial withdrawal with SAMCO?

WikiFX Respuesta

Based on my experience navigating withdrawals with various brokers, the process with SAMCO—an India-based broker that operates without valid regulatory oversight—should be approached with significant caution. While the specific documents required for an initial withdrawal aren't explicitly detailed on their summary, I always assume that brokers of this profile will require, at minimum, standard KYC (Know Your Customer) documentation. This typically includes a government-issued ID, PAN card if you're based in India, proof of address (such as a utility bill or bank statement), and, in some cases, bank account verification documents. My years of trading have taught me that unregulated brokers might alter requirements or delay processes, so my advice is to be meticulous: make sure all information in your account matches your documentation to avoid complications. Since SAMCO does not currently possess a recognized regulatory license according to public profiles, I am extra vigilant. I always double-check their payment policies on their official website or reach out directly to SAMCO's support channels—either via their listed phone numbers or designated emails—before initiating any withdrawal. In my experience, being thorough with documentation and cautious with personal data is critical, especially when dealing with brokers carrying a "high potential risk" flag.

Broker Issues

SAMCO

Deposit

Withdrawal

08-22

Estados Unidos

gnsrael

1-2 años

How do the different account types provided by SAMCO differ from one another?

WikiFX Respuesta

Drawing from my experience as a trader, I look closely at account structures before opening an account. With SAMCO, I noticed that their account offering is positioned around simplicity—they advertise a free online trading and demat account for all clients. Instead of multiple account tiers with varying features, SAMCO relies on a flat pricing scheme: ₹20 per order for most trades, with specific alternatives like 0.20% for equity delivery or 0.02% for intraday and F&O trades. There isn’t an array of separate account types providing different leverage levels, perks, or platform access; rather, every client seems to get the same foundational access to their trading ecosystem and tools. For me, the lack of account type differentiation may appeal to traders who value transparency and straightforward costs. However, I tread cautiously given their structure. While this model removes the confusion of “silver” versus “gold” accounts, it also means advanced services or tailored solutions are likely limited, especially for active or high-volume traders who might expect volume discounts or premium features elsewhere. It’s also important to factor in SAMCO’s lack of valid regulatory oversight, which increases the risk for any funds deposited—this makes understanding the exact terms of their “one-size-fits-all” account crucial before committing capital. In summary, for SAMCO, all clients use essentially the same account type with uniform fee structures, which is simple, but I am especially careful about risk and regulatory considerations here.

Broker Issues

SAMCO

Account

Platform

Instruments

Leverage

07-31

Estados Unidos

Arnold Joseph

1-2 años

Which trading platforms are offered by SAMCO? Do they support MT4, MT5, or cTrader?

WikiFX Respuesta

Based on my direct experience with SAMCO, I’ve found that their platform offering is quite clear: SAMCO provides three main proprietary platforms—SAMCO Trader, SAMCO Web 5, and a dedicated SAMCO mobile application. The SAMCO Trader is a desktop application, whereas SAMCO Web 5 is a web-based, HTML5 platform accessible on various devices, and their mobile app has both iOS and Android support. I did not find any evidence that SAMCO supports third-party platforms like MetaTrader 4 (MT4), MetaTrader 5 (MT5), or cTrader. For me, the lack of MT4, MT5, or cTrader integration is a significant consideration because these platforms are widely recognized for their advanced charting tools, massive user communities, and support for automated strategies. I tend to value brokers that provide access to industry-standard platforms, as this improves both flexibility and transparency in my trading approach. With SAMCO, traders are limited to using their in-house systems, so if you rely on the established tools and automation that MT4, MT5, or cTrader offer, you may find SAMCO’s platform selection restrictive. Given these limitations, I always advise carefully considering your personal platform requirements before opening an account.

Broker Issues

SAMCO

Platform

Leverage

Account

Instruments

07-30

Estados Unidos