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StockGlobal Review - is it scam or safe?

StockGlobal Review - is stockglobal.com scam or good forex broker?

RATING: 1 / 3 REVIEWS ForexBrokerz StockGlobal
StockGlobal is an offshore broker. Your money is not 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.

 

 

StockGlobal Advantages

 

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.

 

 

>> Looking for a better MT4 broker? <<

 

 

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 Disadvantages

 

Registered offshore

 

   

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.

 

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.

 

 

>> Compare the spreads of top forex brokers <<

 

 

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.

 

 

Conclusion

 

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).

 

 

>> Trade with a broker regulated in Cyprus <<

 

 

And finally, here are the highlights of the present review of StockGlobal :

 

Pros Cons
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

 

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Traders` reviews for StockGlobal

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Scam!!!

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!!!

dkw 12/11/2019

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.



Eoghan 11/19/2019
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