Sonaf – what we know and have as facts about it; This is a brand name of Sonaf Business Limited, which is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license number 174/12. This license allows it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Client Agreement document that the company deals with the client as the main counterparty and not as an agent, even though the company may transmit orders to liquidity providers/brokers for execution. That means the company acts more as a market maker rather than as a Straight Through Processing (STP) broker. It may choose not to hedge all customer orders and will take advantage when the customer loses.
So far, we have not received any complaints from customers of Sonaf. If you have any criticism to share with us or feel annoyed by Sonaf, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and Sonaf if you wish.