If you are looking for a reliable and trustworthy online broker, you might have come across Stocks24. This platform claims to offer access to over 2000 financial instruments, including forex, stocks, commodities, indices, and cryptocurrencies. But is Stocks24 a legit broker or a scam? In this review, we will examine the features, pros and cons, and reputation of Stocks24 to help you make an informed decision.
What is Stocks24?
Stocks24 is an online trading platform that was launched in 2019. It is owned and operated by Stocks24 Ltd, a company registered in St. Vincent and the Grenadines. Stocks24 provides its clients with a web-based trading platform, as well as mobile apps for Android and iOS devices. The platform supports various trading tools, such as charts, indicators, signals, news, and economic calendar. Stocks24 also offers educational resources, such as webinars, tutorials, ebooks, and articles.
What are the advantages of Stocks24?
- Low minimum deposit: You can start trading with as little as $250.
- Wide range of assets: You can trade over 2000 financial instruments across different markets.
- Multiple account types: You can choose from four account types, depending on your trading style and preferences. The account types are Basic, Silver, Gold, and Platinum.
- Competitive spreads and commissions: Stocks24 offers tight spreads and low commissions on most of its assets.
- Fast execution and high leverage: Stocks24 claims to execute orders within milliseconds and provide leverage up to 1:400.
- Customer support: Stocks24 has a dedicated customer service team that is available 24/5 via phone, email, and live chat.
What are the disadvantages of Stocks24?
- Lack of regulation: Stocks24 is not regulated by any reputable authority, such as the FCA, CySEC, or ASIC. This means that your funds are not protected by any compensation scheme or regulatory oversight.
- Negative reviews: Stocks24 has received many complaints and negative feedback from its clients. Some of the common issues reported are withdrawal problems, account closure, hidden fees, and poor customer service.
- No demo account: Stocks24 does not offer a free demo account for its clients to practice their trading skills and strategies.
- No MT4 or MT5: Stocks24 does not support the popular MetaTrader 4 or MetaTrader 5 platforms, which are preferred by many traders for their advanced features and functionality.
Is Stocks24 a scam?
Based on our research and analysis, we cannot recommend Stocks24 as a reliable and trustworthy broker. The platform has many red flags that indicate that it is not a legitimate business. The lack of regulation, the negative reviews, the withdrawal issues, and the hidden fees are some of the reasons why we advise you to stay away from Stocks24. There are many other online brokers that offer better services and security for your trading needs.
Conclusion
Stocks24 is an online trading platform that claims to offer access to over 2000 financial instruments. However, the platform is not regulated by any reputable authority and has received many complaints from its clients. We do not recommend Stocks24 as a legit broker and suggest you look for other alternatives.
What to Do If You’ve Lost Money with Stocks24?
If you have been scammed by Stocks24 or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.
