Summary:
STForex identifies itself as a global forex broker with a variety of trading tools, but the broker’s trustworthiness has been called into serious question. In this STForex review, we will provide a summary of STForex, the credibility issues, and what traders are saying about STForex, including concerns of a possible STForex scam.
- STForex Website – https://stforex.com/
- Is STForex Website Working – Yes
- STForex Address – Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St.Vincent and the Grenadines.
- Is STForex Regulated – No
- Is STForex Blacklisted By Any Regulatory – No
- Is STForex Domain Blacklisted – It seems there is no direct mention of this domain being on a blacklist.
Understanding STForex as a Broker
More than 45 forex pairs, metals, and CFDs on a variety of stocks, indices, and cryptocurrencies are allegedly available on STForex.com. STForex boasts advanced trading tools and claims to provide traders with expert support. But watching the legitimacy issues arise, STForex starts losing some legitimacy.
STForex Trading Platform Features
STForex has developed its platform for trading, which provides the functionalities of charting, using indicators, and trading in different assets. The STForex trading platform does work; however, some STForex users have heard of their fellow traders complain about the quality of order execution, and sometimes, in periods of volatility in the markets, it has been questioned.
Is STForex Legit or a Scam?
False Registration Claims
STForex claims to be registered in St. Vincent and the Grenadines. However, a search within the FSA (Financial Services Authority) registry found no company with such registration. This raises serious concerns over the broker’s legal existence and accountability to traders.
Negative Trader Feedback
On public forums like ForexPeaceArmy, users have sounded the alarm on STForex’s suspicious tactics. One trader said after putting money in the account, an “expert” encouraged them to enter pending orders during high-volatility news releases. They ultimately did so, but trades were taken with slippage as high as four digits, and the trades suffered as a result.
Final Thoughts
STForex advertises many means of trading, but the facts showing a misleading registration, compounded by reviews from other users that lead to apprehension, cannot be ignored. Potential traders need to be careful and conduct thorough diligence prior to trading with STForex.
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