Beware! Fxstockoptionstrade 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.
Fxstockoptionstrade is allegedly a Forex broker, but it’s not really. The so-called brokerage is a complete failure, and to demonstrate what we mean by saying that, we’d like you to look at the screenshot below. As you can see, half of the website’s room is consumed by this green stuff, which happens to be the brokerage logo! Reading the content is impossible, and we think no further commentary is required – Fxstockoptionstrade is an absolute fiasco.
Other than that, the Client Area page was also broken, the trading software is available in Demo only (hosted by MQL servers), and frankly speaking, the logo prevented us from finding enough information about the so-called brokerage. The flop is huge, and we can confirm that Fxstockoptionstrade is a scam! More details can be found in the following review.
Fxstockoptionstrade Regulation And Safety Of Funds
Fxstockoptionstrade is NOT REGULATED! A simple check revealed that the so-called brokerage is not associated with registered companies, let alone with regulated ones, which undoubtedly proves that Fxstockoptionstrade’s advertised services are illegal. They claim that their business is compliant with all international requirements, but their assertions are pure lies! Fxstockoptionstrade is a scam!
Avoid it, and trade with real brokers instead! For example, both CySEC (Cyprus) brokers and FCA (Britain) brokers are proven safe as both authorities force strict regulations to guarantee safety for clients’ funds. The compulsory rules include client account segregation, risk-reducing measures like leverage restrictions and negative balance protection, and increased capital requirements to license a broker (€730 000). Most importantly, though, both authorities maintain deposit insurance funds – clients of CySEC brokers can claim up to €20 000 in compensation, while the UK protections are even higher at £85 000 per person! It goes without saying that if you trade with unregulated brokers, you’ll remain unprotected and exposed to fraud risks!
Fxstockoptionstrade Trading Software
Fxstockoptionstrade claims that its clients can use MetaTrader 4, arguably the best trading platform that has more or less become a synonym for retail Forex trading. However, Fxstockoptionstrade cannot provide MT4 on its own servers – the only thing they have is a Demo hosted by MQL. That is to say, the MT4 web-based distributions we accessed cannot provide trading services with real money. Fxstockoptionstrade is a fake broker, taking advantage of MetaTrader’s reputation – that’s a scam!
Avoid it, and if you are still interested in trading, you can check our lists with real MetaTrader4 and MetaTrader5 brokers. The high-rated firms on top of the list are adequately regulated, and you can trade with them safely. We recommend them as both MTs are industry leaders packed with many advanced features such as automated trading and analytical tools, complex indicators, reliable indicators and a marketplace with thousands of trading apps. Trading with MetaTrader brokers is always a good decision, but make sure to trust your money with real companies only!
Now, have a look at the Demo we opened.
Fxstockoptionstrade Trading Conditions
As already confirmed, Fxstockoptionstrade cannot provide authentic trading services, meaning that real conditions cannot be discussed. Still, we should cover Fxstockoptionstrade’s claims, which are essentially lies!
So, the alleged trading assets available for trading are Forex, Cryptos, Stocks and Indices, but in reality, you cannot trade any of these instruments.
The trading costs are allegedly ultra-low as Fxstockoptionstrade advertises zero spreads (trading for free), but that’s not true either!
The trading risks are purportedly high as leverage can reach 1:500, which is a ratio with increased profit potential and hazards alike. Generally, 1:500 is dangerous and should be used with caution, but in this particular case, the level is not applicable as Fxstockoptionstrade cannot provide real trading services!
Fxstockoptionstrade Deposit/Withdraw Methods And Fees
The minimum deposit is unknown as Fxstockoptionstrade fails to impose any requirements. Also, we could not test the deposit system and find out, as the Client Area page was broken at the time. We don’t know what the problem is, but at any rate, the malfunctioning page is another failure demonstrating that Fxstockoptionstrade should never be trusted.
As for funding methods, Fxstockoptionstrade claims that Credit/Debit cards, cryptocurrencies and Western Union are available, but we cannot confirm this information. Whatever the case, though, you shouldn’t deposit even a penny with Fxstockoptionstrade as it’s a pure scam!
Information about withdrawal and fees is not available, which is a red flag in itself as critical information about the service is concealed. We already know that Fxstockoptionstrade cannot provide trading services, but it’s always a warning sign if a brokerage fails to specify its withdrawal requirements and fees.
Here you can see our failed attempt to access the Dashboard/Client Area:
How Does The Scam Work
Forex scams are different from one another, but in most cases, the fraudulent scheme is practically carried out in the same way. Scam brokers are always unregulated and usually registered somewhere offshore, which helps scammers remain anonymous and untraceable. If you open an account with such an entity, you should expect endless phone calls. Scammers will constantly try to approach you and make you deposit money as quickly as possible. Remember that urgency is always a treacherous sign, so it’s probably a scam if someone calls you twenty times per day, asking for money.
In the worst-case scenario, you’ll deposit, and scammers will persuade you to trade instead of you. You’ll soon see magnificent profits generated – false, of course, and you’ll get excited, asking to take your money back. As you probably guess, they won’t let you do so and will try to get another deposit from you, promising that much more lucrative gains are waiting. Or, they can ask for a false tax, saying that withdrawals are only possible if you cover the charge in advance. If you pay, you’ll increase the amount stolen from you, but if you keep asking for your money, you’ll soon realise it’s a scam!
What To Do If Scammed
You should first inform the authorities – call the police and contact your local regulators and other government bodies dealing with crime and fraud. Also, deactivate your cards ASAP and call your bank to inform them about what happened – they can provide essential information and help you reduce further financial damage.
If you deposited cryptocurrencies, there is not much you can do, but if you used your credit/debit cards, you could file a chargeback, hoping that all or some of the money invested can be retrieved. However, you shouldn’t go blindly looking to recover the loss because many fraudulent chargeback agencies are waiting to double-scam victims of fraud – be cautious about it!
And lastly, consider sharing your experience to help protect others and provide further information about how scams work!