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StreamForex Review – is it scam or safe?

StreamForex Review  – is streamforex.net scam or good forex broker?

RATING: 2 / 0 REVIEWS StreamForex
StreamForex is an offshore broker. Your money is not safe.

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 Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Classic $5 0.01 lot 1:500 2 pips, fixed
Professional $5 0.01 lot 1:200 0.9 pips, floating

 

StreamForex has two main types of live trading accounts: Classic and Professional. Additionally, there is a demo account and a MMIR account, which is a type of money management, similar to PAMM. According to the broker's site, even though the minimum deposit is listed as $5, it recommends at least $25.

 

The broker offers trading in 45 forex pairs and CFDs on precious metals, energies, indices and stocks.

 

 

The Company. Security of Funds

 

 

Company Country Regulation
StreamCapital Group SVG None


StreamForex is owned by the offshore company StreamCapital Group registered on the Saint Vincent and the Grenadines.

 

The Caribbean island is known as a preferred destination for the offshore forex broker, thanks to its lax business regulation, zero corporate tax and secrecy.

 

Not all offshore and unregulated brokers are a scam, but the likelihood is much higher than with the properly regulated brokers, so we advise traders to choose the latter. It must be noted, of course, that the different regulators have different requirements and provide different level of client protection and some are better than others. Usually, UK's FCA and the Australian Securities and Investment Commission (ASIC) are known for their stringent oversight and the brokers regulated by them are preferable.

 

 

Trading platform

 

StreamForex offers trading on MetaTrader 4 (MT4) in its versions for desktop and mobile devices, but without the browser version.

 

The platform has been around for 10 years and is preferred by brokers and traders alike.

 

MT4 has many functionalities and charting and technical analysis tools. It supports autotrading, Expert Advisories and is user-friendly and stable. The platform also lets users devise and implement own trading strategies and allows hedging.

 

Among other things, MT4 supports money management accounts as well.

 

Promotions

 

StreamForex has several types of promotions, including a deposit bonus and a refer a friend bonus. The broker also offers a type of deposit account with up to 12% annual interest. Terms and conditions apply.

 

 

Methods of payment

 

StreamForex accepts payments through bank transfers, credit and debit cards and the online wallets WebMoney, Yandex Money, Qiwi and EasyPay. There is also the option to make a deposit through the online banking systems of Russia's Alfa – AlfaClick and Sberbank.

 

 

Conclusion

 

StreamForex is an unregulated offshore broker whose main target markets are Russia and Belarus where are located its offices.

 

Its trading conditions are fairly favorable, especially the low starting deposit and the 1:500 leverage on the Classic account. Still, it is better to choose a properly regulated broker – there are such both in Russia and Belarus.

 

Pros Cons
Low deposit Offshore
MT4  
High leverage  

 

Latest news about StreamForex
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Traders` reviews for StreamForex

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Price feed

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Platform

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