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On October 24, 2022, the Securities and Futures Commission (SFC) in Hong Kong classified SSIM as a suspicious website that falsely claimed to be regulated by the SFC. https://www.sfc.hk/en/alert-list/2881
The website of SSIM has turned inaccessible, which is a significant indicator of a potential scam. Legitimate forex brokers always meticulously maintain their websites to display essential information and facilitate trading. In contrast, the absence of a properly functioning website suggests a potential scam.
As early as October 2022, the Hong Kong Securities and Futures Commission (SFC) added SSIM to its list of suspicious websites, stating that this brand falsely claimed to be associated with Sunshine International Market Limited, a company licensed by the SFC.
Regarding the AR license SSIM claimed to possess, while it remains active, there is no specific information on the website of the Australian Securities and Investments Commission (ASIC) to validate this claim. As a result, we cannot rule out the possibility that SSIM pretended to be an ASIC-registered entity by using a counterpart's details.
Furthermore, a surge of complaints has severely damaged SSIM's credibility. This directly reflects SSIM's intention to defraud.
In essence, SSIM is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.
SSIM is unequivocally a scam.
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