Sterling Asset – Review

Sterling Asset

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Sterling Asset

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Caution Investors Sterling Asset – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.) Registration of issuance, offer, or sale of securities/derivatives, and reporting requirements.

Overview of Sterling Asset:

Sterling Asset is a broker that claims to offer trading services in various financial markets, such as forex, stocks, commodities, indices, and cryptocurrencies. The broker advertises itself as a reliable and trustworthy partner for traders of all levels, promising high returns, low fees, and advanced trading platforms. However, the Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning about Sterling Asset, stating that it is not authorized to provide financial services or products in the UK and that it may be involved in fraudulent or manipulative practices.

Regulation and Compliance of Sterling Asset:

According to the FCA, Sterling Asset is not authorized to provide financial services or products in the UK and is not registered with any regulatory body. This means that the broker is operating illegally and does not comply with the rules and standards that protect investors and consumers. The FCA also warns that Sterling Asset may be using the details of a legitimate firm or a clone firm to deceive people into thinking that it is regulated or affiliated with a reputable entity. The FCA advises anyone who has been contacted by Sterling Asset or has invested with them to report it to the FCA’s Consumer Helpline.

Customer Reviews of Sterling Asset:

The customer reviews of Sterling Asset are mostly negative and reveal many complaints and issues with the broker. Some of the common problems reported by customers include:

– Difficulty in withdrawing funds or closing accounts

– Aggressive or misleading marketing tactics

– Poor or non-existent customer service

– Manipulation of prices or spreads

– Unauthorized charges or fees

– Loss of money or profits

Some customers also claim that they have been scammed or defrauded by Sterling Asset and that they have lost their entire investment or more. Some customers have also reported receiving threats or harassment from the broker or its representatives.

Products and Services Offered By Sterling Asset:

Sterling Asset claims to offer trading services in various financial markets, such as forex, stocks, commodities, indices, and cryptocurrencies. The broker claims to provide access to over 200 instruments, competitive spreads, fast execution, leverage up to 1:500, and various account types. The broker also claims to offer advanced trading platforms, such as MetaTrader 4 (MT4), WebTrader, and mobile apps. However, these claims are not verified or supported by any evidence or documentation. Moreover, the products and services offered by Sterling Asset may not be suitable or appropriate for all investors and may involve high risks.

Location of Sterling Asset:

Sterling Asset claims to have its headquarters in London, UK and provides a physical address on its website. However, this address is not valid or registered with any official entity. The FCA warns that Sterling Asset is not located in the UK and may be based overseas. This makes it difficult or impossible to contact or trace the broker in case of any dispute or problem. The FCA also warns that Sterling Asset may be using a virtual office service or a mail forwarding service to create a false impression of being based in the UK.

 

Customer Service Provided By Sterling Asset:

Sterling Asset claims to provide 24/7 customer service via phone, email, live chat, and social media. However, many customers report that the customer service provided by Sterling Asset is poor or non-existent. Customers complain that they cannot reach the broker by any means of communication or that they receive no response or assistance from the broker. Customers also complain that the customer service representatives are rude, unprofessional, unhelpful, or dishonest.

Defensive Measures Against Fraudulent Brokers:

The FCA advises anyone who is considering investing with an online broker to take some defensive measures to protect themselves from fraudulent or manipulative brokers. Some of these measures include:

– Checking the FCA’s register of authorized firms and individuals before dealing with any broker

– Avoiding brokers that are not authorized or regulated by any reputable authority

– Being wary of brokers that offer unrealistic or guaranteed returns, bonuses, or incentives

– Being cautious of brokers that pressure you to invest quickly or urgently

– Reading the terms and conditions carefully before signing any contract or agreement

– Keeping records of all transactions and communications with the broker

– Seeking independent advice from a qualified professional before investing

Conclusion:

Sterling Asset is a broker that claims to offer trading services in various financial markets, but the FCA has issued a warning about its fraudulent or manipulative practices. The broker is not authorized to provide financial services or products in the UK and may be involved in illegal or unethical activities. The customer reviews of Sterling Asset are mostly negative and reveal many complaints and issues with the broker. The products and services offered by Sterling Asset may not be suitable or appropriate for all investors and may involve high risks. The location and customer service of Sterling Asset are also questionable and unreliable. The FCA advises anyone who has been contacted by Sterling Asset or has invested with them to report it to the FCA’s Consumer Helpline. The FCA also advises anyone who is considering investing with an online broker to take some defensive measures to protect themselves from fraudulent or manipulative brokers.