The first question that we would like to answer in this review is whether Stocksforex is transparent. Unfortunately, Stocksforex failed our credibility test.
Most brokers try to look legitimate by posting a broad description of their activity in the “About Us” section. However, Stocksforex is just telling the clients why its services are great without giving any specific information about their experience or a total number of customers.
In addition, this broker has provided on its website the list of fake partnerships and awards. Does this tell us that Stocksforex scam is a true statement? Not really, but it kind of points the direction.
This trick is aimed at showing the high status of the firm or being ECN broker. Well, the icons of the world’s leading brands are actually clickable, but the link points to nowhere. How does Stocksforex relate to such major financial companies as UBS or Barclays? There is no information at all.
Stockforex Website Overview
When entering the website, the potential client will definitely notice a great design. Yes, the website is well-designed and everything is structured. In reality, the broker looks nice only on the exterior.
The broker Stocksforex will immediately show you real-time quotes and the activity stream of traders. In addition, on the front page, one can use extra features such as the trading calculator and the economic calendar. We do not object using these tools, but they are commonly available and should be found elsewhere. Again, this does not tell us that Stocksforex is a scam, but it clearly shows that it does not walk an extra mile to deliver any sort of supreme trading experience.
Afterward, the broker shows you the list of financial instruments. They include Forex, Stocks, Commodities, CFDs and stock Indices. Their overall amount is around 300, which is not so big when comparing Stocksforex with its legit competitors. Then the traders will notice 3 different account packages, but we will return to this a bit later in our Stocksforex review.
Generally, the website is available only in 2 languages – Spanish and English.
Stockforex Review: No bonus offers
Reliable online trading brokers always try to help the newcomers by providing welcome bonuses or offering several promotions to already registered users. The bonus is designed to provide clients with additional capital and helps the trading brokers build good and long-term relationships with their customers.
Speaking of Stocksforex, it does not offer any trading bonus and it does not seem like any promotions are promised to be available in the nearest future. By neglecting this important part of brokerage services, the broker is risking to be avoided even more often than now with many negative Stocksforex opinions.
Actual trading at Stocksforex
To start trading at Stocksforex, the client has to open one of the suggested accounts. There are three of them.
As you can see the initial investment required for each account is unjustifiably high, because there are transparent online trading brokers that offer much better conditions and lower costs. The spread charged at each trading account starts with 3 pips for major Forex pairs, but can change. It does not mean that Stocksforex fraud is a true statement, but it certainly shows that trading with this broker is not cheap at all. Although experienced traders can handle the variable spread, for beginners this can be the end of the game. Overall, the accounts offered here are not friendly both to newbies and advanced traders.
Now let’s see what platforms are offered. When making our research for one of the honest Stocksforex reviews, we have encountered two platforms provided at this website. They are MetaTrader 4 and Sirix Webtrader. In technical terms, the trading platforms are good enough to ensure pleasant trading experience. Both platforms have a comprehensive list of charting tools, indicators and other features to support the trading activity. There are 2 main distinctions between these platforms. Firstly, MT4 allows automated trading and use of custom indicators. Secondly, in order to exploit MetaTrader 4 the software has to be installed on the computer. On the contrary, Sirix is a web-based trading platform and the client can use it straight from the website. However, we strongly advise trading on these platforms only with reliable brokers, not Stocksforex brokerage.
Generally, we cannot claim that customer support is great because this will not be true. Support agents can provide some assistance, but do not expect them to understand the issues which professional traders might have. Why is that? Well, by looking at the Stocksforex website content we can clearly see lots of errors. How do you expect a company to help you when they don’t seem to be able to fix their own bugs? Clients can contact client support by using the live chat on the website, write an email or call support by a given phone number. The thing is, the website lists different contact numbers (and in different countries) depending on the site page that you visit.
If you would like to check info about deposits and withdrawals, you can open their FAQ and gain some information. However, we recommend you to avoid making any deposit as there are way better broker alternatives.
Who stands behind Stocksforex?
Is there a possibility that Stocksforex is just a company that starts out and we are just giving it some hard time? Even though Stocksforex.com review found that the website claims to inform the visitors that the company was founded in 2010, it actually seems to be a lie. First of all, Stocksforex.com domain was only registered in 2015. The footer of the website tells that Stocksforex brand belongs to a greek company named Nuntius brokerage & investment services s.a. However, the website of this company has no mentioning of Stocksforex. This might be actually a sign of the scam. However, even though there might be some relationship between Nuntius and Stocksforex, look up the optionions about Nuntius brands to learn more if this company can be trusted. You will be surprised.
Stockforex Scam Review Verdict
Is Stockforex a scam? So far this is a very new brand that has appeared on the market just in 2015. Nevertheless, we cannot rate this broker positively. Stocksforex is not interested in impressing favorably with its brokerage services. It does not offer promotions, requests relatively high initial deposits and it is especially not suitable for those who just start out.