The offshore FX broker STOCKGLOBAL offers four different account types on leading MetaTrader trading platform. The deposits, leverage, and spreads offered by this broker are quite high. There are several concerns we have about this broker. Let us discuss all aspects of this broker and figure it out ourselves. Please read this review until the end to get all the questions answered.
The traders trading with STOCKGLOBAL gets access to world-leading and most trusted trading platform the MetaTrader. More than 3/4th of traders worldwide use and like MetaTrader. The MT features several unique and profit-making gears as Experts Advice and trading auto bots. The leverage offered by STOCKGLOBAL is 1:300 and it is moderately high also beneficial to many traders. But as you all know high leverage ratio has high risk. The offerings of trading gears are huge and consist of all currency pairs from major to minor, and CFDs on several commodities, cryptos, natural resources along with shares and indexes.
The offshore firm named Longsdale Capital LTD operating from Marshall Island is the owner of STOCKGLOBAL. The Marshall Island is the territory where several scam brokers reside and it does not fall under the jurisdiction of any financial authority. This builds the concern around the security of the trader’s funds. Also, it has zero guarantees of recovery in the situation of scams. All the offshore brokers are banned in regulated markets. Furthermore, the Financial Services and Markets Authority of Belgium has issued several public warnings, considering a potential scam, against the broker. It also provides brokerage services for a binary option that is also banned in the EU.
The website of STOCKGLOBAL provides the information on spreads offered on prime EURUSD and is from 2.8 pips for the basic account. This available spread is high according to industry. Eventually, this claim falls flat when we tried to peep into the trading conditions on the broker’s MetaTrader platform. The spread there was floating around 0.1 pips without commission on the same currency pair with the same basic account. Such a trading environment is non-profitable to any trader. And it is one of the tricks used by a scam broker. Again the MetaTrader platform offered by STOCKGLOBAL is provided by a third-party named AKIV LTD. AKIV LTD is the owner of another brand called ASSETGATE both of them are also situated in Marshall Island. We can sense the scam racket operation is in the play.
Is STOCKGLOBAL scam or legit?
The four accounts provided by STOCKGLOBAL have high minimum deposits. Along with this the spreads and leverages are also high. Such trading conditions are considered unprofitable. Marshall Island tag is enough to suspect that this is a potential scam broker. Avoid STOCKGLOBAL and secure your funds.
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