StoxMarket has been in the online trading sector since 2013 and runs under the ownership of Marketier Holdings Limited which is located at Trust Company Complex. The given address is not physical but virtual. As such, if you want to their offices physically, you can not do so. Traders using this broker are limited to a reak account since there is no option of StoxMarket demo account.
To traders, this is a disadvantage since there are those who prefer to use demo accounts as a learning platform. Further, the minimum deposit is $3000. This is a huge amount and can limit low-roller traders from trading with them. On the other hand, during our StoxMarket review, we realized that it links with a number of scam robots. It has also received multiple warnings from regulators.
Basically, this is an indication that the broker does not observe the set market standards, making it receive warnings. Such issues should act as a warning sign to traders looking for a trustworthy brokerage firm. Go through this review about the broker to see whether it can be trusted and for recommendations on brokers you can consider.
Find the best trading platform. You capital is at risk when trading. Be careful.
Is StoxMarket A Scam? Is StoxMarket Regulated?
With our tough stand on trading, we don’t hesitate to bring any scammers to light and StoxMarket is nothing but a scam. This broker has negative comments everywhere and its clients are not pleased with their services. This definitely sounds an alarm that something is wrong. StoxMarket scam is severe such that in their website they have indicated they work with auto traders and this does not build confidence in its users. While engaging in your Forex trading, robot scams such as 1k Daily Profit, Binary Options Auto Trading, and Freedom Circle will be seen popping up.
This can get you worried especially since these software are all scams. The broker is neither regulated nor licensed by any authority but instead, regulatory authorities strictly warn against trading with this broker claiming they are illegitimate.
The company also has the common standard bonus scams that hinder one from withdrawing any money unless a fee is paid. Traders in the US are barred from using this broker to trade any commodities. The only positive attribute of this company is its customer support that offers a reliable live chat. This doesn’t mean there is no hope in trading as in the next section we will advise you accordingly on which broker to use.
Alternatives to StoxMarket
There are still a number of brokers who offer services that are in line with the right regulatory framework. An example of a broker with high client confidence is 24Option. There is a comprehensive 24Option Review that details its trading avenues that you can have a look at. This is a popular forex broker that offers its clients the Scipio Trading Platform which allows trading of CFD’s on a number of underlying assets. It is regulated and clients are assured of their returns.
Those who are interested in trading cryptocurrencies are catered for with Bitcoin, Litecoin, Ethereum, and Dash. Markets.com also engages in CFD’s and Forex trading and is a regulated platform. Payments can be made via PayPal or even wire transfer. Payouts are usually made within three days at most. On this note, StoxMarket has to be regulated first and put in place measures that will make it more trustworthy for its clients and potential customers.