Stockswide Review – Are Eu Traders Safe With This Broker?

Stockswide broker is yet another anonymous company offering trading services. With more and more scams around, we need to be extremely cautious. But more importantly, seek regulated ones. Which provides higher security standards and a more trusted environment.

That’s why in this Stockswide review we present you with all pros and cons of this company.

Stockswide Is Not a Trustworthy Broker?

Stockswide trading company doesn’t reveal their headquarters country. But through T&Cs we discovered that all legal actions should be taken through the courts of St. Vincent and Grenadines. With this in mind, it’s not surprising that this broker doesn’t reveal the license number either. The FSA of SVG doesn’t provide trading licenses anymore. Mostly due to many scam companies that are registered there.

Additionally, Stockswide broker doesn’t have any other Tier 1 regulation. To mention some, FCA, BaFin or ASIC. None of them have issued any licenses to this company. So, now we already have one reason to think that traders will only get scammed.

Non-regulated offshore broker. Stockswide company doesn’t reveal ownership or office information. Shady and untrusted trading platform. Non-transparent trading conditions. No demo accounts are available.

The Opinions of Traders On about Stockswide

As the company registered in 2022, we can’t expect many reviews. But those available on Trustpilot are not good. Out of 3 reviews, already one claims that this is a total scam.

Trader complained about non-existent fees and non-approved withdrawals.

Trading Platform and Other Apps on Stockswide

As for the trading platform, we can see another discrepancy. What Stockswide broker advertises is Meta Trader 4. Which is the leading third-party trading software. Traders can use many different options. But main advantages are advanced EAs and copy trading.

Thus, Stockswide was misleading traders. Upon registration, we could only see a basic web-based platform. All these features that MT4 offers are missing here. Additionally, you can’t trust a shady broker with a shady platform. Primarily due to the potential manipulation of market data. After all, there is no mobile app available. Which makes this platform even less desirable.

What Financial Instruments Does The Platform Include?

On the contrary, the only thing they advertise and deliver are trading instruments. There are all 5 major categories available. You can choose from:

• Shares� � � � � � � � � � � Amazon, Netflix, Deutsche Bank
• Indices� � � � � � � � � � � FTSE 100, Dow Jones, CAC 40
• Commodities� � � � � � Natural gas, Brent crude oil, silver
• Forex� � � � � � � � � � � � GBP/USD, JPY/HKD, SGD/AUD
• Cryptocurrencies � � � ADA, SOL, XRM

Important to realize is that traders don’t have trading protection. For instance, guaranteed stop loss and negative balance protection.

Stockswide Countries Of Service

These offshore companies tend to scam anyone they can. Mostly they are avoiding countries like US or Japan, but everyone else could be their target.

Our research team found some of their main victims. They are mostly scamming traders from:

• United Kingdom
• Netherlands
• Belgium
• Norway
• Sweden

Stockswide List of Account Types   

With Stocskwide scam broker, you can find 4 regular account types and 3 managed ones. So, you can choose if you want to lose money yourself or if someone else will lose it for you.

But anyway all your deposits go straight to their pockets. Besides, managed accounts should have a licensed broker. Which they don’t, so it brings maximum risk. Anyway, your options are:

• Explorer� � � � $500
• Basic� � � � � � $2.500
• Silver� � � � � � $10.000
• Gold � � � � � � $50.000
• Managed� � � $75.000 / $150.000 / $250.000

Can a Trader Use a Demo Account?

Any experienced trader looks first for a demo account. This way you can discover if the broker is misleading you. And that’s exactly why the Stockswide investment scam doesn’t have this option.

Not only do they lack a demo, but also micro-accounts. So, the only way to test them out is by risking $500. Instead, you can find a Tier 1 regulated broker. Which offers accounts starting at $10.

Terms of Service for Stockswide

The broker minimum deposit requirement is actually $250. So, they are lowering standards just to get traders on board. As for funding methods, traders have:

• Credit/Debit cards
• Wire transfers

The company claims not to have any fees for deposits. But for withdrawals, it remains unknown.

Leverage, Spreads and Fees

Stockswide trading company didn’t bother revealing their trading conditions. Leverage is unknown, but most probably because it’s too high. They don’t want to demotivate traders with the insane risk of losing money. Besides that, you don’t even know what spreads you will get. Which is all a sign of a scam broker. Because all legitimate brokers make money on spreads and commissions.

Another discrepancy is the fees. The broker doesn’t discover any fees, except for the reactivation of the account. Which will cost you a shamelessly high amount of $2.000.

Stockswide Bonus Program Rules

The main reason why traders often get scammed is the bonus policy. In fact, they accept some funds as a welcome bonus offer. Yet, to withdraw those profits you must fulfill certain requirements.

But those requirements are visible only in the bonus policy. So, traders must maintain a 25x bigger trading volume of the bonus amount + deposit.� Which is mostly impossible to reach. So, when you request a withdrawal they can reject it.

Scammed by a Stockswide Broker? – We Want To Hear Your Story

This company doesn’t have any regulations. Therefore, nobody monitors their activities. The only way that we present this case to authorities is through reviews. If this broker stole your money, share your story with us. At least other traders can get a warning of this investment scam.

On the other hand, we believe that your money is most important to you. So, you have here a solution to recover it through a chargeback process. But more importantly, our expert team is there to assist you.

What Is the Chargeback Procedure?

Chargeback is filed mostly by a cardholder. But also merchants can do that instead of you. Such requests are available only if on the account is performed fraudulent activity. In the last 540 days upon transaction. So, don’t waste time and let these guys get away with it. Book your first free consultation already today.