Beware! Stuholk is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Be aware of Stuholk! This is an elaborate scam that is very well concealed by a number of things. The first major concealment tool is a very properly arranged website, that functions very good and is structured in a very professional manner. Next, we find a load of information that seems to legitimize the broker even though it is actually completely useless. We consider Stuholk to be a new breed of scammer brokers, due to its professional-looking nature and its ability to easily lure users. Even we were for a moment tricked into thinking that the broker was regularly. Read the review and then judge for yourself if it’s really worth investing in this one.
We registered an account very easy, so easy and fast that it is quite suspicious that we did it so easily, end or able to activate the account in no time. Unfortunately, here is where Stuholk revealed its true Nature; the activation link that was in our email redirected us to an error page meaning that either there is no user area or that the broker did not recognise this as a potential investor.
Either way, we must take all of the trading and payment information from the website of a company that is not to be trusted with such information.
The supposedly trading conditions indicate that users can trade with forex currency pairs, indices, stocks, commodities, options, and cryptocurrencies. There are no spread values anywhere to be seen; the charts that are scattered around the website are owned by a third party meaning that they do not reveal the true trading conditions of the broker- this is yet another very delicate sign that the company is not regulated. There is also no leverage value revealed anywhere.
The website is available exclusively in English.
STUHOLK REGULATION AND SAFETY OF FUNDS
It was surprising how little information there was concerning a licence or an address. Most scammer brokers include at least two pieces of false information, and we were barely able to find that in Stuholk.
The first thing that we found is that the company is allegedly registered in Poland which is not the first country that you associate with forex brokers ven if there is a stable trading community in Poland. The Polish Financial Supervision Authority is the official regulator in the country, however, it bears no information on the broker at hand meaning that Stuholk is not regulated in Poland.
Other than this fake Polish address we have information that the broker is also located in the UK it is even more ridiculous than the Polish address. Registered and legitimized in the United Kingdom as a forex broker a would-be broker must absolutely hold a licence from the FCA. This broker does not hold a licence from this agency and is therefore not regulated in the United Kingdom.
There is no other information to work with nuts that we need anything else in order to conclude Stuholk is unregulated in a risk to all users.
Whichever way you see it there is absolutely no sense in investing in brokers that are unregulated. They are a risk to all investments and also a risk to any personal information the users provide them with. We always advise users to choose brokers that have been regular. That is why it is imperative to check for a licence before creating an account. UK, EU, US, or Aussie regulated companies are the ones to look out for. All of these licensed brokers adhere to various regulatory and legal frameworks that allowed them to put the clients’ safety and security as their main priority. Not to mention that the FCA and CySEC offer client compensation schemes that remembers users if the broker cannot pay them back for insolvency reasons. CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
STUHOLK TRADING SOFTWARE
There is no real trading software to talk op of here. Nothing indicates that the broker has taken the time to include one.
STUHOLK DEPOSIT/WITHDRAW METHODS AND FEES
We have to take all payment info from the website. So, there is an inherent unease with the payment details.
The alleged minimum deposit is $250. Cannot see any specifics on payment methods, however, the terms and conditions do reveal credit cards, debit cards, and wire transfer as potential payment methods.
Withdrawals are processed in 10 days while the minimum withdrawal amount is $100. There are apparently no commissions issued when withdrawing.
There is no further information on payments that is helpful for us here. nothing from what we have revealed is actually to be trusted fully. But this is to be expected from unregulated brokers.
Overall this broker is regulated and not worth the risk.
How does the scam work?
The most helpful that scammer brokers have in their repertoire or perhaps online advertisements which they use to attract a user base.
Every internet user has witnessed at least a couple of these fake ads are promise Investments returns and luxurious lifestyles. These ads mostly lead to investment scams or so called fraudulent brokers.
Once on this website the user will be advised to provide a phone number or an email address through which the broker can easily solicit investments.
A first deposit is the hardest to get and those users that deposit for the first time are likely to deposit for a second or third time. Personal account managers make sure to keep the user as invested as possible until he or she gets suspicious.
Once this happens the broker can easily all withdrawal requests or shut down the entire account or the website even. It’s crucial to remember that the user will never gets his or her money back easily.
However there are certain ways to get to that money back.
What to do if scammed?
The most important thing to do once you get is to file for a chargeback. Unfortunately this happens only if the user has invested by means of a credit or debit card. MasterCard and VISA have a chargeback period of 540 days.
If the money was lost through a bank transfer then the user must contact the bank itself and try to find a solution with it. Most banks probably have a policy of retrieving stolen funds. What’s also imperative is to change the bank user name and password for your account.
Money that was lost through crypto currency investment is unfortunately lost forever. The only way to get this money back yes if the broker itself pays it’s back to you.
Last but not least do not approach recovery agents. These are scams on their own and will ask you for money in return for your lost funds. Of course such services do not really exist and these fraudsters will disappear with the money once you pay them.