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StockGlobal Review – is it scam or safe?
RECOMMENDED FOREX BROKERS
Trading Accounts and Conditions
|Trading account||Min. deposit||Max. leverage||Spread|
|Bronze||$250||1:300||From 2.8 pips|
|Silver||$2 000||1:300||From 2.5 pips|
|Gold||$10 000||1:300||From 1.5 pips|
|Platinum||$50 000||1:300||From 0.1 pips|
StockGlobal is an offshore forex broker that offers four trading accounts and access to the MetaTrader4 platform. Apart from their account type and trading conditions, we have serious concerns about this broker and the details will be highlighted in our thorough review. If you are going to skim through it, make sure you read at least the first two points in the Negatives section.
Trading on MT4 with up to 1:300 in leverage
Clients of StockGlobal are offered the most popular forex trading platform, the MetaTrader4. Most traders know this trading software well and actually like it. The MT4 is famous for its top-notch charting, the automatic trading bots called Exert Advisors (EAs), and the customization options, which allow traders to create technical analysis indicators and EAs of their own.
We should also note that the maximum leverage at StockGlobal is up to 1:300, which is a relatively high ratio, and will suit the needs of most traders. Yet, do have in mind high leverage also has a significant disadvantage – you may lose your investments in a matter of seconds, because it actually multiples the risk of loss.
A lot of financial instruments available
Another good thing about this broker is that offers trading in currency pairs from all over the world and a wide variety of CFDs, allowing for portfolio diversification, which helps manage risk. More specifically, the broker’s CFD product range includes indices, stocks, commodities, precious metals and cryptocurrencies.
StockGlobal is allegedly owned and operated by Longsdale Capital Ltd., a company registered offshore, on the Marshall Islands. This is an offshore zone where forex brokers do not fall under any regulatory oversight. This constitutes a major security concern for potential clients of StockGlobal, who have no guarantee for their investment and may be open to substantial risk. The offshore registration also means that this broker is not entitled to operate on any regulated financial market, such as the EU, US, Canada, Japan, etc.
Blacklisted by Belgium’s FSMA
In spite of the above said, it seems that StockGlobal unlawfully offers forex products and/or CFD’s on the Belgian market – the Financial Services and Markets Authority (FSMA) of Belgium has put out a warning against the broker.
In the official notice, the FSMA reminds that investment fraud often lies behind firms that are active in the binary options and forex trading/CFD’s sector and do not have the requisite authorization. The regulator further warns that anyone who wishes to invest in such companies might not recover the sums invested.
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High spreads announced, demo ones don’t match
According to the information on its website, the spreads StockGlobal offers on EUR/USD are starting from 2.8 pips on the most basic account type, which twice higher than the average in the industry. When we tested the broker’s MT4, we found the benchmark EUR/USD spread floating around 0.1 pips, and no commission applied.
Click on the image to zoom in.
If trading costs are the same in live trading environment, there is no way for StockGlobal to be profitable. We suppose that the lack of commission fees and the tight spreads on demo accounts are just a trick to attract customers.
MT4 provided by a third party
This is not a serious drawback, when compared to previous ones, but we should mention it – the MT4 used by StockGlobal is provided by a third party – Akiv Ltd. The firm is also registered in the Marshall Islands and company operates Asset Gate brokerage brand.
StockGlobal is another dodgy unregulated broker that has gotten under the radar of the Belgian financial authorities. Overall, it has all the trappings of a scam, so you’d better stay away.
As always, we recommend that you only deal with well-established and licensed forex brokers. That being said, one of the most trustworthy authorities in Europe are the UK’s Financial Conduct Authority and the Cyprus Securities and Exchange Commission (CySEC).
And finally, here are the highlights of the present review of StockGlobal :
|Trading on MT4 with up to 1:300 in leverage||Registered offshore|
|A lot of financial instruments available||Blacklisted by Belgium’s FSMA|
|High spreads announced, demo ones don’t match|
|MT4 provided by a third party|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
Traders` reviews for StockGlobal
Stock Global SCAM ALERT
Complete scam. I deposited around 4k in different installments beginning August 2020 as they continued to ask me to invest more and more constantly, an exact phrase from him at one point was can’t you just deposit 5 or 10K through a credit card . dealing with an account manager that claimed to be Nathan (not sure if they make the names up) . They get you locked in with some slow and steady wins and then keep encouraging you to invest more. As you do the trades get riskier and they devalue your money more and more. When you ask to withdraw they will say sure just withdraw 50quid to test it so we can show you we are legit, I fell for this and to top it off they insist on doing it all via BTC wallets to cover any potential tracks. They make intentional trades that stay open for weeks sometimes months with no SL and they can go to minus 4000 in some cases. Very poor service and when you try get out they don’t allow you. Now here is where it gets tasty, my account was worked up to over 7K which I was happy with BUT when I asked to withdraw after discovering some suspect reviews online about the company they wouldn’t let me instead they insisted on executing losing trades to wipe me out. My account now sits with 1400 dollars and they won’t allow me to even withdraw that to add insult to my losses. Their numbers don’t work and the worlds best con artist Nathan is ignoring me. STAY AWAY.
Avoid stockGlobal!! they are stealing money!! I can not withdraw my money I invested, they still making stupid excuses. do not trust their advisors – Pavel, Dan and Nathan- they are all liars.
Do not trade with stockglobal. They will steal your money. They only want you deposit money. more and more and at the end you can not withdraw. Scam.
This is a scam! Do not invest!
StockGlobal is a scam. They will trick you into investing larger and larger sums of money. Once your money is invested you cannot withdraw it. If you ask to withdraw it they will make up excuses and “withdrawal fees”. I was told that because I was referred to the business by a friend that I owed 2K plus USD in withdrawal fees. The broker (Nathan) then blocked me from contacting him and all my money was taken.
StockGlobal Review: Stockglobal.com Abysmal Forex Scam
StockGlobal Review: Stockglobal.com Abysmal Forex Scam
Last Updated: Oct 28, 2020 @ 1:57 pm
StockGlobal (Stockglobal.com) is another cruel CFDs and Forex broker to hit the lucrative trading world. Stock Global is claiming to offer currency pairs, energies, futures, indices, metals, and shares. Upon further scrutiny, damning details have emerged revealing the type of platform this is. Members are up in arms after having their account withdrawal request ignored and trading accounts blocked. Read this detailed and honest STOCKGLOBAL Review and get the truth.
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After receiving numerous email complaints from users of this platform, we knew something was amiss. Most investors are having trouble accessing this broker as their calls are either blocked or cancelled. Reaching any of their account managers has proved to be impossible. Avenues such as mobile chat services have all gone under which solidifies our belief. StockGlobal is a scam which is targeting unsuspecting online investors. Exposing these scam artists is our duty as no one does it better than us.
Scam artists know for a fact we all want to make an extra buck here and there. And as such, they create an illusion they can help you with wealth creation. By cloning a trading website, these scam artists entice unsuspecting investors to sign up. Thanks to our years of trading experience, we know how to spot a scam from a mile away. Exposing these scam artists will help get rid of unwanted and unscrupulous brokers.
Disclaimer at the footer of their homepage claims this platform is owned by Longsdale Capital Ltd. These scam artists have gone ahead and used a well-known registration number. MH 96960 is a registration number used by most offshore scam platforms. Another red flag we noticed is where they claim to be registered. Registered in the Marshall Islands makes them an offshore brokerage site.
Another shocking revelation with this broker is anonymity. Who are the founding members of this platform? Why haven’t they posted any details regarding the people running this website? Some hard questions need to be answered before signing up with unknown platforms. Another problem with this broker is having the same information as price tag. After a few days, we noticed they never change the price chart at the bottom of their homepage. And this is a huge red flag.
Is StockGlobal licensed or registered?
How can an offshore broker be duly licensed? Lack of any credible evidence suggests we are dealing with a rogue platform. We also contacted leading regulatory bodied in an effort to track their license credentials. All bodies we contacted have never heard of Stock Global. International bodies we contacted include ASIC, COSNOB, CySEC, FCA, FSMA, NSA, and SEC. It seems we are dealing with a scam outfit whose credibility is questionable. Dealing with this platform is a disaster waiting to happen.
A real broker would post details of their licensing for all to see. Why have they failed to post copies of their licensing credentials? Copies would help validate any claims of registration. And these scam artists know that users must check the credibility of their license. What these looks like is a scam which has been in the pipeline for years.
Reliable and reputable brokers will help you increase your chances of making real funds. Dealing with robust and successful brokers is what newbie traders should go for. Invest with genuine and transparent brokers who have unwavering community support.
Features of StockGlobal/ Advantages
Any unlicensed entity does not hold any trading advantage for one reason, safety. Your safety is at risk especially when making deposits. Investors who open accounts are creating a chance for hackers to steal their banking details. Offshore brokers fail to take part in any compensatory scheme. Furthermore, they don’t have proper security features.
Disadvantages of StockGlobal
StockGlobal is furnishing anyone who signs up with four types of accounts. Accounts are named Bronze, Silver, Gold, and Platinum. One of the red flags we spotted with these accounts is having personal account managers. Account managers used in this platform are simply call agents with no trading background. Managers are only pieces in the chess board as they only call to ask for more funds. Scam artists hire call agents especially from India and Europe to scam unsuspecting investors.
StockGlobal is using a rigged demo account to entice members to sign up with them. Members believe the demo account mirrors the same trading results as a real account. And this is where investors fall for the trap as they rush to open a real account. A real account requires you deposit real funds while a demo account uses virtual money. And this is how scam artists are able to rig demo accounts.
Deposit and Withdrawal
Deposit channels include Bitcoin, MasterCard, and Visa. Withdrawing funds still remains to be the biggest problem with this platform. Some members have over $1,000 worth of funds and still can’t get access to it. And this is where we draw the line with this rogue platform.
StockGlobal claims to use MT4 trading platform in their activities. Even though we recommend brokers who offer this trading platform, something doesn’t seem right. Scam artists are also cloning MT4 platform and using them on their sites. A platform with no security feature poses a huge risk to anyone who signs up. Hackers will easily take advantage of this platform and steal credit card information.
Are funds safe with StockGlobal?
Funds are not safe with a broker who fails to use basic security features on their website. Segregation of accounts is also another huge issue as StockGlobal is pooling funds in one account. Members are depositing funds straight to owner’s bank account. As we said earlier, don’t expect any compensation as this broker does not participate in a compensatory scheme. Stay away from any platform which shares the same characteristics as Stock Global. Safety of funds is not a guarantee with unstable platforms.
Is StockGlobal a scam?
After reviewing all the facts, we can safely conclude StockGlobal is a scam. Stock Global is a good for nothing platform which is stealing from anyone who signs up. Mark all their emails as Spam and warn your family and friends from joining their affiliate programs. Any links sent via email should not be clicked as they are huge security threats.
Adding this broker to our scam blacklist will help our readers from becoming victims. Make sure to read our reviews as we expose those platforms with shoddy behavior.
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Forex broker scams:
The “Revenge of the Clones” is a favoured cyber ruse
The high profile international ‘trade wars’ are current headline grabbers, but ‘Clone Wars’ have been an issue for consumers across the world since 2020 or earlier. The practice has fallen under the spotlight of various regulators, but the scam has built upon early models to become a sophisticated ruse using new technology to great advantage for malicious and criminal ends.
In the UK the watchdog regulator the Financial Conduct Authority (FCA) has been particularly active in rooting out ‘Clone Firms’ that operate fraudulent websites which so closely resemble the real thing they often fool even the most cyber-aware traders and investors.
The objectives of the scammers that use cloning often mean that cold-call targets are chosen to try to sell them worthless or overpriced products. One way this is done is by obtaining personal information and data fraudulently by using simple contact form requests that look like they come from a trusted source.
The aim is to trick you into believing that your existing account needs attention from you and then you willingly give out the information required to access your account. This often comes about by so-called ‘phishing’ emails, which can look very convincing. Likewise, malware can be downloaded to your devices, which can even record keystrokes you make and transmit the data to the criminals.
Not only has the tech evolved but also the markets that are targeted too. Today forex trades and especially cryptocurrencies, binary options, and CFDs are the hot items on the crooks wishlist. By using fraudulent websites, which are virtual offshore jurisdictions, make it even harder to track down those responsible and bring them to justice.
Although both the approach and the technology may appear sophisticated, the scams are often let down by simple errors such as a clumsy misspelling or mispronunciation of terms or names. Likewise, the misuse of official badges or accreditation is common, so an easy way to weed out the scammer is to carry out some due diligence and check with industry and regulatory bodies to authenticate claims.
Cybersecurity comes in many flavours but at its most basic it means protecting your own data and personal information in any way you can. Making sure you only give out passport data, payment information, personal ID details of any kind to wholly authenticated sources is vital. Learning the essentials of cyber safety isn’t difficult, and awareness is the crucial first step that needs to be taken to combat cloning threats and other common ruses.
Forex broker scams:
The simplest work every time – beware of Ponzi
It’s a common misconception that scams need to be complicated to work, and it’s one that is perpetuated by popular heist films and con artist TV shows. In fact, the most successful scams are usually quite simple, as the current wave of ‘phishing’ email attacks shows.
With cybercrime never far from the headlines, the idea that fraudsters use human psychology to great effect is beginning to be more well known, but in foreign exchange trading, even experienced investors and traders can find themselves falling for old tricks in a new wrapping.
A “Ponzi scheme” is named after Charles Ponzi, who, in the 1920s, used a scamming technique that offered high returns with little risk. The appeal of such a deal is still a big draw today, which is why this kind of pyramid scheme is an enduring fraud that returns in new guises.
Essentially, the funds that new investors put in go to pay off those who back the scheme earlier in the chain. Today, slick videos or expensive-looking websites can be used to deliver the message that is the ‘hook’ for the scam. The format may vary from guaranteeing a simple return with the promise of huge gains at no risk or perhaps come in the form of a special piece of software or an app that can be used to make millions overnight.
Forex fraud – fertile ground
Foreign exchange has a certain mystique about it that makes it fertile ground for fraudsters and their scams. It isn’t really greed that lies at the heart of the process but more likely a gullibility that means ‘marks’ are easily targeted and then drawn into the scheme.
Essentially, having an awareness of the dangers is the best way to protect yourself against them. Having trusted advisers or sources with whom you have built up a working relationship is always the best bet, but of course, everyone has to start somewhere and that’s where things can be risky.
Marketing materials that look too good to be true probably are, and unbelievable promises should be taken with as big a pinch of salt as possible. Fortunately, there are regulatory bodies that cover many aspects of international financial dealings and it is always worth checking the credentials of anyone that you might be thinking of entering into a financial relationship with.
Being wary of unsolicited or unexpected approaches, taking a common-sense approach and refusing to be rushed into making decisions are all key to avoiding being scammed. Above all though, listen to your gut instincts and stay sceptical at all times.
Forex broker scams:
Fake credentials and reviews befuddle regulators
When someone looks into a business deal of some kind, the phrase ‘due diligence’ often comes up. This is especially true in the world of finance and economics, so it’s no surprise that it is something of a buzz phrase in the forex sector.
Essentially it means doing your homework and research into the other parties involved in a potential deal, business arrangement or transaction that you might be considering. It is an important process as it can save you from falling victim to a clever fraudster and is hugely relevant today as scam artists are very sophisticated in their dark art.
Applying due diligence used to mean simply looking into official registrations and the approval of various regulatory bodies, as well as delving a little deeper into the history of the parties that are being looked at. However, with the wealth of methods that are now available to fraudsters, going even deeper is often the best strategy to take.
Faking credentials is something that scam artists use to catch the unwary and the use of websites and links that seem real but are anything but is a common occurrence in the current climate. This is because it is relatively easy to using spoofing techniques to hide the actual addresses of websites and using a link that reads one way, but points to a different site is a simple thing to set up.
Reviews on credible websites can be a great way of finding out about potential hookups across a broad spectrum of activities, but unfortunately the ‘bad guys’ know this too. That’s why building up fake reviews has become something of an art form of late. It can be hard to sift the wheat from the chaff when it comes to reviews, so using other methods to verify the integrity of a ‘due diligence’ target need to be employed.
Things to look for
Websites that carry a lot of information aren’t necessarily legitimate. A large section with management names and biographies might look impressive, but crooks can use these to provide an air of credibility. Some easy tricks to help work out if there is something to be worried about is to take something like a featured telephone number and do an online search. This will usually point towards the true owner of the number and often bring up any questionable activity attached to it.
Legal documentation in the form of official licenses or memberships of various industry bodies can be easy to fake, but if you are in doubt, they can also offer the chance to do some digging that can work in your favour.
Simply get in touch with the organisation in question by finding a link from a different source and ask them if the broker you are interested in is, in fact, a member. If not, the body may choose to take action for misrepresentation, and you might be doing other people a big favour, as well as avoiding a scammer yourself.
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Fraud Brokers . Have you been scammed? had bad service, struggled to get your money back or some other action which you believe is non compliant? Tell us and if we have the right information, we will actively support your case through mediation with the broker.
Your Next Move.
Find Your Broker Trading carries risk. There is no getting away from that. Making the right choice of broker and platform will help you trade better and combined with experience, tools, research and a helping of luck your trading adventure could take you places you only ever dreamed of.
Nothing on this site constitutes advice or a recommendation – you use the site and its contents at your own risk. Trade wisely. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
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