Be aware of Stocksforex scam! Do not sign up! Learn more in this review!

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Stocksforex Scam Review

Rating:

The distinctive feature of all scam brokers is making empty promises. Such frauds offer great trading conditions, ultra-low spreads and quick withdrawal of funds. Stocksforex broker scam is no different from them. It says to offer premium services, though in its true nature this company is only looking how to make money by deceiving traders. Want to know more? Read our full Stocksforex Scam Review!

Min. Deposit: $1000 Demo: Yes

Platform: Sirix Bonus: N/A

Regulation: N/A US Clients: N/A

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RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

The only info that the trader can learn about this company is that it was founded in 2020 and is located in Athens.

Stocksforex Review: Registration

Some frauds try to act like proficient brokers when it comes to account registration. Whether it is a demo account or real trading account, the broker asks to give the following information:

  • General account information
  • Financial & Employment information
  • Choose the currency for the account – there are 6

Looks like a great approach, but in fact this is a trap. When you provide so much of your personal data to the unregulated and irresponsible broker, you risk a lot. You can read many Stocksforex opinions and see that the broker is not fair with its clients.

However, let’s still see what happens next after the account is created.

Trading with Stocksforex

As you can see on the image above, broker Stocksforex immediately asks you to deposit funds. Expecting the welcome cash bonus or extra percentage on your deposit? Do not waste your time, because Stocksforex does not offer anything to reward its new clients.

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Additionally, we can learn from the image that Stocksforex offers 3 platforms. They include MT4 as a standard desktop platform, Sirix WebTrader and mobile applications for Android and iOS devices that allow trading on the go.

The platforms can be accessed only when you finally select one of the account packages. As they are very similar, we can make a short summary of the features further in this Stocksforex review:

  • Daily Briefing & Research
  • Desktop, Tablet and Mobile Trader platforms
  • Video tutorials
  • Customer support 24/5
  • Webinars and Seminars
  • Dedicated Account Manager

That is basically it. The accounts are named Micro, Standard and VIP. More expensive packages such as Standard and VIP are supposed to offer first-class service and special analysis, but they actually do not. Instead, Stocksforex requires $5000 deposit to open Standard account and $20000 for VIP. You can see clearly that the game is not worth the candle.

Additionally, Stocksforex fraud offers wide spreads and low leverage (up to 1:200 Forex trading). Some traders might consider low leverage as not a huge problem, because the risk is mitigated. However, advanced traders, which use strategies that require considerable leverage, will not be satisfied. If you want to trade with low leverage as a beginner – better do it with Plus500.

Deposit and Withdrawal Information

Although we do not recommend to open any account at Stocksforex, we would like to present some information about making the deposits. The minimum deposit requirement is $1000, which is the requested amount for Micro account. However, in FAQ they claim this amount to be $100 or the equivalent in other currencies. When you read various opinions Stocksforex, you will mostly see that the conditions for making a deposit are poor, if not worse. Below you can view them personally:

This is interesting, because Stocksforex actually tells that it accepts Visa, MasterCard, Diners Club, Webmoney, Wire Transfers and local payment methods. We think that this not what you can actually see on the screenshot. Deposits made with credit/debit cards take around 1-2 days to be processed, which is very slow. As for the wire transfers, the time is 2 or more business days.

The max amount of days for the money to arrive at your bank account depends on the transfer method. On average it takes about 7 business days but can be longer. There are much better conditions at other trading brokers than Stocksforex scam.

Customer Support

As specified in account features, Stocksforex offers 24/5 customer support. As the matter of fact, you may have troubles with reaching them. The agents simply do not respond immediately, even if you contact via live chat. Other methods include email and phone. Since Stocksforex is the scam that does not have international offices, there are no local phones. Support speaks only English and Spanish.

The Bottom Line

We tried to prepare one of the honest Stocksforex reviews. In conclusion, we would like to advise to avoid this broker. What Stocksforex promises and what the traders actually have are completely different things.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Stocksforex Review

If you want to keep your money safe and profit from trading Forex online in the long-run, then you should definitely avoid scam brokers. Forex frauds are hunting for your money, so it is important to be vigilant. In our Stocksforex review, you will learn the reasons why you should cross out this broker from your list.

Leverage: 1:200 Licences: IFSC

Min. Deposit: 100 USD Bonus: N/A

Spreads: from 2 pips US Clients: No

80.6% of retail CFD accounts lose money

Stocksforex Review: About the company

As we have identified, the website is owned by Nuntius Brokerage & Investment services. Stocksforex company is located in Dragatsaniou 6 Athens 10559, Greece.

The company is said to be regulated by the Hellenic Capital Market Commission under license number 1/46/10.7.1990. However, there is a direct contradiction to this information, because in the “About Us” section Stocksforex scam claims that they are under IFSC regulation.

Hence, we have a tricky situation where it is actually unclear what regulation governs your relationship with this company. If StocksForex broker does not know itself what license it holds, how do traders suppose to answer the questions “is StrocksForex trusted?”.

StocksForex Customer Support

In addition, the website is available only in 2 languages – English and Spanish. Of course, if you get into a trouble, you might want to contact the support via a phone line. This is another case where things get tricky.

The picture on the left shows the screenshot from StocksForex FAQ section where you can contact a support center via a phone number that starts with +44. But when you visit another page, contact details (as seen on the right), you see a completely different number.

The information above tells us that the company cannot actually work out their means of support on their own website. Hence, how can a trader expect good quality services?

StocksForex History

So, a trader might be curious about how long has StocksForex been on the market. The most obvious thing to do is to actually go visit the website of a broker and see what they say.

And here is the answer, the company was founded in 2020. Now let’s take a look at the whois data of the domain.

Snap! The domain was only registered on the 15th of June, 2020. We all understand that FX brokerage activity is a purely online business, hence, it must not be possible to operate a website without a domain. A logical question to ask here, how could StocksForex broker operate without a domain for 5 years? We have no idea if that is possible.

StocksForex Opinions

Clearly, this brand is a rather newcomer to the market. This is why there aren’t many opinions about StocksForex broker available online. However, here we can take 2 routes to find out more about the company:

  1. StocksForex brand belongs to Nuntius Brokerage & Investment Services S.A (as they claim on the website)
  2. StocksForex does not long to Nuntius Brokerage & Investment Services S.A

If we assume that the 2nd case is right, then things become quite easy. The statement “StocksForex scam” is true and it is simply a website that tries to show that they belong to an EU regulated entity. The screenshot below is taken from the official website of Nuntius Brokerage & Investment Services S.A and it clearly does not contain StocksForex logo.

Well, we do not actually say that the it is the 2nd case. Perhaps the company just badly messed up and failed to update their websites to make StocksForex brand look more legitimate. But this does raise some questions.

Now let’s think that the 1st route is right. StocksForex brand actually belongs to Nuntius Brokerage & Investment Services S.A (Nuntius). What do we know about this company?

We can clearly see that StocksForex is not the first of its brands. A quick search on google shows us that this company is associated with a few more brands: Keystock, Keyoption. Anything else? Well, in early 2020 a binary brand of Markets.com (TopOption) has claimed that its accounts are now operated by Nuntius. Also, there were some forum claims that the same procedure applies to Markets.com account holders. Hence, we can just take a look at what people say about other brands of this company:

This is just one of the complaints, the more you go – the more you find out.

In general, you don’t even have to trust us here. Google up Nuntius and see the brands that it owns. Then try to find at least one brand that has some positive comments. From what we see, after markets.com has been sold to Playtech, the later company started launching lots of both binary and Forex brokers. What’s the purpose of this? Hard to say. As you can see, most of the legitimate FX brands operate under a single website with minor or no rebranding at all. Hence, the only reason we could think of is that a new wrapping for a broker is needed only when it loses the reputation.

Now let’s get back to the broker services found by this StocksForex review.

Trading Accounts

Stocksforex offers 3 live account packages to choose, namely Micro, Standard and VIP. The accounts do not differ much from each other, although the minimum deposit requirements vary significantly.

Trading with Stocksforex broker is costly, because the minimum deposit requirement for Micro account is $100. As this account is meant to be picked by beginners, such investment barrier is rather high for them.

We suggest taking a look at the comparison of the trading accounts at the image below:

Another aspect worth mentioning is the spread available for real trading. The spread on EUR/USD pair is 3 pips. For other currency pairs, like AUD/NZD, it can be as high as 10 pips. Does this tell us that this broker offers competitive conditions? It certainly does not, especially if you are into scalping. In general, trading with a legitimate broker will cost you much less.

Demo account is offered at Stocksforex as well, but we advise you to ignore this feature as you are dealing with the broker that cannot disclose the information in a clear manner on its website. Best to stay away and don’t register, you never know how persuasive the sales people might be.

And here is a final striking moment. If you are going for the most basic account, you get no access to the signals. But other two account types entitle you to receive signals. We do not have any experience with StocksForex signals, but we have lots of experience with the signals that are sent by the brokers. None of the legitimate brokers will supply trading signals to its traders, this is simply a conflict of interests.

Stocksforex Trading Platforms Review

There are 2 platforms accessible at Stocksforex website – MT4 and Sirix WebTrader. The platforms are pretty good if we talk about the trading software features exclusively. MT4 is the top-notch Forex trading platform and the most popular one. Automated trading is considered one of the strongest aspects of the MetaTrader 4, presented by EAs and the MQL4 programming language.

The second platform at Stocksforex is Sirix WebTrader. Sirix is a web-based platform that uses HTML5. Although charting is quite basic at Sirix, it is still not a bad choice. When preparing one of the most honest opinions Stocksforex, we have discovered that the broker has introduced social trading powered by Sirix. Sirix social trading allows you to copy other traders either manually or automatically. Moreover, you can trade on the move with mobile Sirix applications for Android and iOS.

Despite all the pros of utilizing these platforms, Stocksforex remains untrusted and it is better to benefit from using MT4 or Sirix only at trusted online trading brokers.

There are 5 asset classes at Stocksforex: Forex, Stocks, CFDs, Indices and Commodities. The total number of tradable currency pairs is 49. As the majority of honest Stocksforex opinions admit, the maximum leverage seems to be very limited, i.e. up to 1:200 for FX trading. Although the broker tries to convince that spreads are tight, they are not. For instance, variable spread for EUR/USD starts from 3 pips per trade.

Deposits and Withdrawals

When preparing our review about broker Stocksforex, we were quite disappointed about the transfer methods available. To make either deposit or withdrawal, you can only use credit/debit cards, Sofort banking or use paysafe card.

Although Stocksforex has described the fees policy concerning wire transfers, it is still better not to deposit any money.

Can we say that “StocksForex fraud” is a true statement? We cannot. You may deposit and find out yourself, but this review has shown a number of reasons why you should stay away from this brokerage. Take a look at other brands of the company behind StocksForex and think again. Otherwise, we welcome you to open an account with a trusted and FCA-regulated brokerage:

10 Online Scams You Need to Be Aware of—And How to Avoid Them

Swindlers may be following your every tweet and post, looking for a chance to fleece you. Here’s how to confound 10 major online cons.

Free trial offer! (Just pay forever)

How it works: You see an Internet offer for a free one-month trial of some amazing product—often a teeth whitener or a weight-loss program. All you pay is $5.95 for shipping and handling.

What’s really going on: Buried in fine print, often in a color that washes into the background, are terms that obligate you to pay $79 to $99 a month in fees, forever.

The big picture: “These guys are really shrewd,” says Christine Durst, an Internet fraud expert who has consulted for the FBI and the FTC. “They know that most people don’t read all the fine print before clicking on ‘I agree,’ and even people who glance at it just look for numbers. So the companies spell out the numbers, with no dollar signs; anything that has to do with money or a time frame gets washed into the text.” That’s exactly what you’ll see in the terms for Xtreme Cleanse, a weight-loss pill that ends up costing “seventy-nine dollars ninety-five cents plus five dollars and ninety-five cents shipping and handling” every month once the 14-day free trial period ends or until you cancel.

Avoidance maneuver: Read the fine print on offers, and don’t believe every testimonial. Check TinEye.com, a search engine that scours the Web for identical photos. If that woman with perfect teeth shows up everywhere promoting different products, you can be fairly certain her “testimonial” is bogus. Reputable companies will allow you to cancel, but if you can’t get out of a “contract,” cancel your card immediately, then negotiate a refund; if that doesn’t work, appeal to your credit card company. Not all websites will lose you money–Youtube can make you a fortune.

The hot spot imposter (He’s close, real close)

How it works: You’re sitting in an airport or a coffee shop and you log into the local Wi-Fi zone. It could be free, or it could resemble a pay service like Boingo Wireless. You get connected, and everything seems fine.

What’s really going on: The site only looks legitimate. It’s actually run by a nearby criminal from a laptop. If it’s a “free” site, the crook is mining your computer for banking, credit card, and other password information. If it’s a fake pay site, he gets your purchase payment, then sells your card number to other crooks.

The big picture: Fake Wi-Fi hot spots are cropping up everywhere, and it can be difficult to tell them from the real thing. “It’s lucrative and easy to do,” says Brian Yoder, vice president of engineering at CyberDefender, a manufacturer of antivirus software. “Criminals duplicate the legitimate Web page of a Wi-Fi provider like Verizon or AT&T and tweak it so it sends your information to their laptop.”

Avoidance maneuver: Make sure you’re not set up to automatically connect to nonpreferred networks. (For PCs, go to the Network and Sharing Center in the Control Panel. Click on the link for the Wi-Fi network you’re currently using. A box with a “General” tab should pop up. Click “Wireless Properties.” Then, uncheck the box next to “Connect automatically when this network is in range,” and click OK to enable. For Macs, click on the Wifi button in the upper right, click “Open Network Preferences,” and check “Ask to join new networks.”) Before traveling, buy a $20 Visa or MasterCard gift card to purchase airport Wi-Fi access (enough for two days) so you won’t broadcast your credit or debit card information. Or set up an advance account with providers at airports you’ll be visiting. And don’t do any banking or Internet shopping from public hot spots unless you’re certain the network is secure. (Look for https in the URL, or check the lower right-hand corner of your browser for a small padlock icon.) Finally, always be on the lookout for these red flags someone is spying on your computer, whether you’re in public or not.

The not-so-sweet tweet (It’s a real long shot)

How it works: You get a “tweet” from a Twitter follower, raving about a contest for a free iPad or some other expensive prize: “Just click on the link to learn more.”

What’s really going on: The link downloads a “bot” (software robot), adding your computer to a botnet of “zombies” that scammers use to send spam email.

The big picture: Scammers are taking advantage of URL-shortening services that allow Twitter users to share links that would otherwise be longer than the 140-character maximum for a tweet. These legitimate services break down a huge URL to ten or 15 characters. But when users can’t see the actual URL, it’s easy for bad guys to post malicious links.

Avoidance maneuver: Before clicking on a Twitter link from a follower you don’t know, check out his profile, says Josh George, a website entrepreneur in Vancouver, Washington, who follows online scams. “If he’s following hundreds of thousands of people and nobody is following him, it’s a bot,” he says—a good tip to keep in mind for how to protect yourself online and avoid being scammed.

Your computer is infected! (And we can help)

How it works: A window pops up about a legitimate-sounding antivirus software program like “Antivirus XP 2020” or “SecurityTool,” alerting you that your machine has been infected with a dangerous bug. You’re prompted to click on a link that will run a scan. Of course, the virus is found—and for a fee, typically about $50, the company promises to clean up your computer.

What’s really going on: When you click on the link, the bogus company installs malware—malicious software—on your computer. No surprise, there will be no cleanup. But the thieves have your credit card number, you’re out the money, and your computer is left on life support. Scams are everywhere–you can even become a “doctor” online with just $99.

The big picture: “Scareware” like this is predicted to be the most costly Internet scam of 2020, with over a million users affected daily, according to Dave Marcus, director of security and research for McAfee Labs, a producer of antivirus software. “This is a very clever trick,” says Marcus, “because people have been told for the past 20 years to watch out for computer viruses.” Even computer veterans fall prey. Stevie Wilson, a blogger and social-media business consultant in Los Angeles, got a pop-up from a company called Personal Antivirus. “It looked very Microsoft-ish, and it said I had downloaded a virus,” she recalls. “It did a scan and said it found 40 Trojan horses, worms, and viruses. I was concerned that they were infecting emails I was sending to clients, so I paid to upgrade my anti-virus software. Right after I rebooted, my computer stopped working.” Wilson had to wipe her computer hard drive clean and reinstall every-thing. Although most of her files were backed up, she lost personal photos and hundreds of iTunes files. “I felt powerless,” she says.

Avoidance maneuver: If you get a pop-up virus warning, close the window without clicking on any links. Then run a full system scan using legitimate, updated antivirus software like free editions of AVG Anti-Virus or ThreatFire AntiVirus. Tip: Your “private” browser may not be so private.

Dialing for dollars (With a ring of fraud)

How it works: You get a text message on your cell phone from your bank or credit card issuer: There’s been a problem, and you need to call right away with some account information. Or the message says you’ve won a gift certificate to a chain store—just call the toll-free number to get yours now.

What’s really going on: The “bank” is a scammer hoping you’ll reveal your account information. The gift certificate is equally bogus; when you call the number, you’ll be told you need to subscribe to magazines or pay shipping fees to collect your prize. If you bite, you will have surrendered your credit card information to “black hat” marketers who will ring up phony charges.

The big picture: Welcome to “smishing,” which stands for “SMS phishing,” the text-message version of the lucrative email scam. In this ploy, scammers take advantage of the smart-phone revolution—hoping that a text message to your cell will make it less likely you’ll investigate the source, as you might do while sitting at your desk. Since many banks and businesses do offer text-message notifications, the scam has the air of legitimacy. Shirena Parker, a 20-year-old newlywed in Sacramento, California, was thrilled when she got a text message announcing she’d won a $250 Wal-Mart gift card. When she called the number, a representative explained there would be a $2 shipping charge (later upped to $4 by another “representative”). Parker gave the scammer her debit card number and started getting round-the-clock calls from him, asking for the phone numbers and emails of friends and family. “It was turning into harassment,” she says. After two days, she contacted the Better Business Bureau, which told her that Wal-Mart was not giving away gift cards. Hearing that, Parker’s husband canceled their debit card before the con could empty the account but not before he had helped himself to the $4 “shipping” charge. “I don’t know how they got my name and phone number,” says Parker. “But I learned my lesson.” Scammers can even reach you by mail–beware of this new trick that targets pregnant women.

Avoidance maneuver: Real banks and stores might send you notices via text message (if you’ve signed up for the service), but they never ask for account information. If you’re unsure, call the bank or store directly. You can also try the Better Business Bureau, or Google the phone number to see if any scam reports turn up. Had Parker checked out the phone number, she would have learned this was a scam, and probably could avoid these phone call scams that can steal your money, too.

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