SigmaBanc

Our investigation into SigmaBanc found an operation with the classic markings of an investment scam. If you are weighing a deposit — or trying to get one back — read this first.

Who is SigmaBanc?

On the surface, SigmaBanc looks like an ordinary forex and crypto broker. Its public site is presented at https://www.sigmabanc.com/. But surface impressions are exactly what these operations rely on — the substance behind SigmaBanc is where the problems begin.

Is SigmaBanc regulated?

We could find no evidence that SigmaBanc holds a valid licence from any recognised financial regulator. Trading client funds without authorisation is one of the strongest indicators of a scam — there is no regulator to complain to, and no protection for your money.

Red flags we identified

• Withdrawals reportedly blocked behind “taxes,” “fees” or account “upgrades”
• Aggressive “account managers” coaching clients to deposit
• Offshore or shell-company registration used to avoid oversight
• No verifiable licence from a recognised financial regulator
• No credible physical address or verifiable corporate record

Our analysis

SigmaBanc claims to be owned and operated by Primis LLC, a company registered in Saint Vincent and Grenadines Registration, registration number 1860 LLC 2022. We searched Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and found the company. However, SVG FSA is not a forex regulator. It does not regulate forex brokers or issue forex licenses. Having registration or not, therefore, does not mean being authorized to provide financial services. In addition, the broker also claims to be regulated in the UK, Canada, Danmark, Singapore and Australia. However, we searched the forex regulators in the five countries but found no matching results. That mean the broker is not regulated in the Countries. Moreover, the company Primis LLC has been warned by the Spain Comisión Nacional del Mercado de Valores (CNMV) for twice. (Under the trading name: BBanc and Spotinvest) The truth is that SigmaBanc is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.

Can you recover money lost to SigmaBanc?

If you have deposited with SigmaBanc, do not pay any further “fees” to withdraw — that is part of the trap. Funds sent to operations like this can sometimes be traced on-chain and pursued through the exchanges and processors that received them. Whether recovery is realistic depends on how you paid and how quickly you act.