Singularity-360

In this review, we will introduce you to a platform with an original name – Singularity-360. We suspect that such a name was not chosen without reason. Deposits here will shrink to a tiny point that you will never see again. Speaking seriously, what we have here is another scam project masquerading as a legitimate licensed CFD broker. We will explain why you should not trust it.

Overview of Singularity-360

Of course, getting acquainted with a broker starts with visiting its official website. This is where you can find all the important information about the company and its trading conditions. We’ll do just that and see what Singularity-360 has to say about itself and what it promises to potential clients.

Broker History

Information about the broker’s history on the official website is practically non-existent. Even the date of establishment can only be deduced from stickers on the pages or from the date in the document that Singularity-360 presents as its license. According to these sources, the company was founded either in 2012 or 2013.

This is clearly not the approach used by honest brokers. They usually do not hide their founding date or significant events that have occurred during their existence.

However, it seems that the creators of Singularity-360 couldn’t be bothered to invent a nonexistent history. They have already gone to great lengths to fabricate numbers that have nothing to do with reality. We’re talking about 1,000,000 traders, 6 types of accounts, and 2 trading platforms. You shouldn’t trust them, and we’ll explain why in the following sections.

Singularity-360.com Website

When we first encountered Singularity-360, it was the first time we had to deal with an official website that could easily be skipped. The web developers behind this project seem to be real masters at not including a single byte of useful information on it. The pages lack:

• Account types
• Trading conditions
• Links to download desktop and mobile versions of the trading platform
• A list of payment methods for deposit and withdrawal, and so on.

In general, if the web platform only had a registration/login form, a personal account, and a trading platform, traders would receive the same amount of information as on the official website.

Registration Process and Personal Account

The registration process for a new Singularity-360 client takes less than a minute. Users need to fill in just a few fields, providing:

• Name and surname, country of residence.
• Email and phone number.
• Password.

However, it will be necessary to confirm that the new client:

• Is not a U.S. citizen.
• Agrees to the Privacy Policy.
• Is 18 years of age, or older, has read, and accepts the Terms & Conditions, Risk Disclaimer Policy, AML, CFT, and KYC.

There are some peculiarities in the registration process. Firstly, there is a list of countries allowed for registration. It includes Ascension Island, Australia, and the Canary Islands. We couldn’t understand the logic of the broker, which claims to have obtained a license to provide services in Belgium.

Secondly, neither the email nor the phone number is verified during the process. However, the Singularity-360 administration requests permission to call after 8:00pm local time during the verification process.

To comply with KYC, it is also necessary to send copies of identity and address verification documents. In addition, photos or scans of both sides of the credit card are mandatory. The only question is why a company with a Belgian license is not collecting customer information in accordance with the MiFID II directive.

The Personal Account provides almost all the functions for working:

• Editing personal data, uploading verification documents, and changing the password.
• Depositing funds and placing withdrawal requests.
• Viewing information about trading accounts, transaction history, and payments.
• Access to webtrader.

For us, it remains a mystery where the creators of Singularity-360 hide the 6 types of accounts and 2 trading platforms, including desktop and mobile versions of the latter. We could not find detailed information about them or access functions, neither on the website pages nor in the Personal Account.

Trading Platform

As we’ve mentioned earlier, Singularity-360 promises to provide traders with 2 trading platforms in web, desktop, and mobile versions. In reality, all of this is just empty talk, and the client only has access to the web trader.

Although the Personal Account indicates that MetaTrader 4 servers are used for trading, the SINGULARITY-360 terminal has no connection to this software. Developers tried to achieve at least some visual resemblance but failed.

Recreating the functionality of the well-known platform was also unsuccessful. The broker’s proprietary terminal lags behind both in terms of technical analysis tools (indicators and graphical objects) and user-friendliness.

We understand the source of the problem very well. MetaQuotes (the creator of MetaTrader) does not provide its software to brokers without official registration. Since 2022, the company has also closed the possibility of their distribution through White Label. As a result, dozens of scam brokers, to which we are confident Singularity-360 belongs, are forced to look for alternative solutions.

Contacts

SINGULARITY-360 did not spare the publication of contact information. Clients can contact the broker’s representatives:

• By phone at +61-284888979
• Via email at support@singularity-360.com
• Through the online chat.

Also, you can try visiting the broker’s office at Boulevard du Régent 54, Bruxelles, Belgium.

Some things raise eyebrows here as well. For example, why does a broker with a license in Belgium and a Belgian address have an Australian phone number?

Analysis of Services Offered by Singularity-360

Upon first acquaintance, the CFD platform left a rather unpleasant impression. The official website, as a source of information, is useless, and the published information is hard to trust. Can Singularity-360 offer traders anything real?

Funding and Withdrawal

In the SINGULARITY-360 Client Portal, the only method of depositing and withdrawing funds is via credit card transfer. However, performing this operation proved to be challenging. Every attempt results in a message stating the impossibility of conducting the transaction and a suggestion to contact customer support.

We are unclear about the reasons behind the payment difficulties, especially when such methods work seamlessly worldwide. Often, such problems can be observed with scammers who provide clients with transfer details during personal contact to avoid displaying them publicly.

Singularity-360 Trading Conditions

On the broker’s website, it is stated that traders can choose from 6 types of accounts. However, the modest creators of Singularity-360 hesitated to provide more detailed information about the tariffs and trading conditions for these accounts. The only thing a trader can find is scant mentions of spreads starting from 0.1 pips and leverage up to 1:300 in the description of trading instruments.

Is Singularity-360 Trustworthy and Reliable?

The trading offers for project clients only deepened the disappointment. We are increasingly convinced that we are dealing with scammers, and not particularly savvy ones at that. Further confirmation of this can be found in the official data of Singularity-360.

Assessing Legitimacy

On the official website, they proudly claim to operate under a Belgian license. The broker’s specialists even spent half an hour inventing and printing a document that supposedly represents the license for trading CFDs and cryptocurrencies in Belgium.

But let’s start from the beginning, with the registration of the company. In Belgian registries, there are 8 companies with the word “SINGULARITY” in their names. However, the broker we are talking about is not on this list.

Licenses for brokerage and other financial market activities in Belgium are issued by the Financial Services and Markets Authority (FSMA). On the list of companies that have obtained a license and are under the regulator’s supervision, Singularity-360 is also conspicuously absent.

Moreover, we have already mentioned the Australian phone number and the registration of users from Australia, which do not align with the official data.

However, there’s one more fact to consider. In the Terms & Conditions, it is stated that all documents are an integral part of the user’s agreement with Wall Street Exchange. What does a UAE-based exchange (which is the only exchange in the world with this name) have to do with operations in Belgium or Australia, especially when Singularity-360 promises access to stocks and indices that are not even traded on this exchange? Or could it be that this fraudulent broker, in its incompetence, wanted to appear more significant and confused it with the NYSE, which is famously located on Wall Street?

Established Track Record

Checking claims about 10 years of operation in the market is also straightforward. You only need to look at the whois data. We can see that the domain used by this scam platform was registered in June 2023.

Gathering a million new users in three months is simply impossible. However, for SINGULARITY-360, it is possible to fabricate 10 years in the market within just three months. After everything we’ve seen, such fakes from scammers no longer surprise us.

Implications for Traders

Therefore, we can confidently emphasize several facts about Singularity-360. The company’s registration is not confirmed. There is no Belgian license, and the document depicting it is, of course, fabricated by project staff. Trading accounts, conditions, and platforms do not match their claims. The claimed track record and statistics are blatant lies. These pieces of evidence are sufficient to understand that this is not a broker but a scam platform. Sending money there would mean losing them.

Strengths and Weaknesses of Singularity-360