Beware! Steady3650 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.
Steady3650, or Forex Steady Global Limited, is a single page-type website that actually provides very little information of itself. It is for sure a illicit broker, yet we think it acts as an introductory site to a much bigger scam, although we may never know what it actually is. For now, read the review of Steady3650 and see what it lacks.
There was no way to open an account because of the simple reason that there was no account creation tools. The broker did not provide any login page, nor a sign-up one. Overall, there is no way to access a user area.
It all makes us think that, maybe, there is a way for the chosen few users, who were solicited before that, to access the user area and perhaps even trade with the broker, although we don’t think that users will get a very pleasant experience from any of it.
Without access to a user area, we will have to take all of the trading details from the website. Not that there is a lot, to begin with. In fact, the only details that we find are a set of alleged tradeable assets. These are forex currency pairs, commodities, cryptocurrencies, stocks, and spot contracts. There are no spreads, nor are there any leverages.
The website of the broker is available in English and Chinese.
STEADY3650 REGULATION AND SAFETY OF FUNDS
First things first. We cannot forget to say that the whole site is contained within a single home page, meaning that we cannot ignore the possibility that Steady3650 may be an intermediary site, or a so-called introductory site, which acts to introduce the broker to users. This, of course, is an approach that is heavily applied by many unlicensed brokers. We don’t know what lays beyond, but we don know one thing for sure- it is a risk and probably illegal.
As for Steady3650, it shows no signs of regulatory information, no address, making it anonymous, and therefore completely unlicensed! We always remind our readers that anonymous brokers are the most dangerous type, for they are untraceable, meaning that there is no way to find them, with often no choice but to give up on looking for a way to get your money back.
Furthermore, there are no legal docs, which is a staple of the scammer broker. Without these provisions the broker can do whatever it wants;, and most of the time it’s taking away funds!
Do not trust this broker, and whatever else it entails. It is a sure risk!
Only trust regulated brokers. This means that the first thing you should do with any broker you come across that seems interesting is to check for a license. Any UK, EU, US, or Aussie-regulated ones will do, although there are dozens of other great regulators out there! Regulated brokers are bound by the law to be as objective and secure as possible while providing a fair FX trading environment for all users. Any sort of deception or theft will be dealt with heavy fines and other legal penalties that may result in the impound of the entire company. Furthermore, the likes of the FCA and CySEC offer client compensation schemes that give users a financial safety net should their broker fall into insolvency. The FCA guarantees up to £85 000, while CySEC guarantees up to €20 000 per person.
STEADY3650 TRADING SOFTWARE
We have a couple of claims alongside a dedicated web-page of an MT5, however, all MT5 links lead to the official website of the MetaQuotes software. This means that, in essence, Steady3650 has no MT5.
So does it have an alternative? Maybe a web trader? Well, not really. Without registering we can’t know for sure, and thus gfro now we have to say that Steady3650 has no trading software.
STEADY3650 DEPOSIT/WITHDRAW METHODS AND FEES
Up to this point, we knew not to expect any payment details, and we were right. It would be asking too much of Steady3650 for some basic payment details.
And so there exist no payment details whatsoever.
Unlicensed brokers tend to offer credit cards, debit cards, wire transfers, and crypto-wallets. Most scams push for crypto deposits because they are near impossible to trace. The minimum deposit requirement usually centers around the $250 value. And there are almost always hidden fees.
However, these are speculation. Who knows what Steady3650 really has to offer.
And we don’t recommend sticking around for the information. The broker is completely unregulated and a scam! Do not invest here!
HOW DOES THE SCAM WORK
Scams function in much the same way they have worked since their conception. The just of it is as follows: the user gets slapped with false promises, gets to invest into one, and is then left without money.
These false promises take the form of online ads that are very attractive and alluring, so much so that even we find them appealing. And they will continue to evolve!
Some of these ads lead to investment scams, sources where the user will be encouraged to provide contact information that will be used to solicit her into investing.
The whole process of solicitation is where the scammers are best at. Sometimes they have whole teams of trained experts whose day-to-day job is to convince users to invest. They are further motivated by the fact that they receive a hefty commission from each deposit. There are scripts with psychological techniques and tricks that are effective against novice investors that still work to this day, judging by the statistics of how many people get scammed per yearly quarter.
The expert scammers move into position when the user is ready to invest for a second or third time. Here the goal of the game shifts to the quality of the deposit. All subsequent deposits should be higher, and the experts know how to bring about this.
All withdrawals will be stalled or held back, even if at times the users get a taste back- this is used to keep them invested in the scheme. Clients will find they have a very hard time withdrawing!
WHAT TO DO IF SCAMMED
A credit card or debit card chargeback should be the first place to look at. MasterCard and VISA have a chargeback period of 540 days. This method is the most used one, and certain scammer brokers even move to act against it, so be sure to act quick!
getting your money back that was originally lost through bank transfers is hard but not impossible. Users should first change their bank account username and pass, and then contact the bank to set a plan of action with the institution.
Unfortunately, crypto-based deposits are untraceable, and the only way to get them back is from out of the goodwill of the scammers. Safet to say, that scammer will rarely if ever deter from their in-born fraudulent nature.
Finally, do not give your money or payment details to recovery agents or agencies. They will promise to reimburse you by tracing the lost investments but will ask for a service fee. Once the fee is paid, they will disappear with the money!