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StockPoint Review - is it scam or safe?

StockPoint Review - Is stockpoint.io scam or safe cryptocurrency exchange?

RATING: 2.6 / 1 REVIEWS ForexBrokerz StockPoint

RECOMMENDED BITCOIN BROKERS


StockPoint is an entry level crypto currency exchange based in Slovakia. It offers a platform with 17 major crypto pairs with coins, trading both against fiat currencies like US Dollar, Euro, Russian Ruble and Ukrainian Hryvnia and other crypto coins – Bitcoin, Litecoin, Ethereum and Ripple.

 

Account type Leverage Maker Fee Taker Fee Deposit Fee
Standard 1:1 0,05% 0,05% n/a

 

StockPoint Advantages:

 

A good selection of crypto coins

 

Checking the StockPoint web based trading platform we came across 17 crypto pairs - BTC / USD, LTC / BTC, LTC / USD, DASH / BTC, DASH / USD, ETH / BTC, ETH / USD, ETH / LTC, BTC / RUB, BTC / EUR, ETH / EUR, LTC / EUR, DASH / EUR, DASH / ETH, DASH / LTC, BTC / UAH and DASH / XRP. Still you may also check our list of brokers, offering Bitcoin CFDs, which, unlike here, can be traded with leverage:

 

>>Bitcoin Forex Brokers<<

 

Fiat currencies accepted

 

StockPoint is an entry level crypto currency exchange and they accept both fiat currencies and crypto coins - you can choose to open an account in US Dollars and Euro or Bitcoins, Litecoins or Ethereum.

 

User friendly web based  platform

 

StockPoint offers a web based trading platform with user friendly interface – you can easily choose a crypto currency pair and hit a buy or sell button. 

 

 

There is also a chart with price and graphic tools as well as trading indicators, which is also nice. The one feature we miss, compared with a well known trading platform, like the MetaTrader4 is the option to run automated trading sessions. So basically the StockPoint trading platform is not that suitable for traders addicted to autotrading and EA backtesting. Besides, here they may also check our list of brokers, supporting the MetaTarder4:

 

>>MT4 Brokers<<

 

Low trading commission

 

StockPoint takes a trading commission of just 0,05% or minimum 1 USD, which looks attractive, compared to most crypto currency exchanges, which collect a trading fee of around 0.20% to 0.25%. Still StockPoint is a new exchange, so like many other new players on the market, obviously they are trying to attract customers.

 

You can trade with just 1 USD

 

StockPoint says that  you can trade on their platform with virtually 1 USD or just 0.0001 BTC and that is also nice. Most brokers and crypto exchanges do have some minimum deposit requirement in most cases ranging between 100 USD and 250 USD, but some big players like IG do not have a minimum deposit requirement as well.

 

Cold storage for the crypto currency wallets

 

StockPoint says they keep your crypto currency wallets in cold storage, which means that the servers on which your data is stored are disconnected from the internet for security reasons. 

 

StockPoint Disadvantages:

 

No regulation

 

Because the crypto market is still largely unregulated, all crypto exchanges fall outside the oversight of the financial regulators. That is a major disadvantage, because basically you have to trust the integrity of the people, who run the exchange. 

 

StockPoint is owned and operated by StockPoint s.r.o., (formerly NataliGroup s.r.o.), a company registered in Slovakia, which is not regulated neither by the Slovakian authorities, nor by any other official regulator in EU.

 

Have in mind that forex and CFD brokers, licensed by respectable institutions, such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) are completely accountable and transparent about the way they handle your funds, because of the strict requirements they are subject to. 

 

All properly regulated brokers are obliged to file regular reports, to allow external audits, to maintain a certain minimum operational capital, to keep all clients funds in a segregated, trust account and with some regulators even to insure traders money.

 

For example, if you are trading with a broker, regulated in EU, your funds will be guaranteed up to 20 000 EUR, even if your broker files for bankruptcy, while with a FCA broker, your insurance will cover up to 50 000 GBP. Besides, here you may check our list of brokers regulated by the FCA in UK:

 

>>FCA Regulated Forex Brokers<<

 

No information about the payment methods accepted

 

Unfortunately StockPoint does not give us information about the payment methods they support. They accept Bitcoins, Ethereum and Litecoin, but they accept fiat currencies as well. The usual methods to transfer fiat currencies are bank wire, credit or debit cards like VISA and MasterCard and popular e-wallet like Neteller and Skrill. So here you you may check our list of brokers accepting payments with Skrill:

 

>>Brokers accepting Skrill<<

 

No leverage available

 

StockPoint is a crypto exchange that provides a trading platform, but does not buy or sell assets it self. That is why you can not trade crypto coins with leverage. You can do that, however, with forex and CFD brokers, offering crypto CFDs.

 

Still, have in mind that trading crypto CFDs (CFD stands for Contract For Difference) does not mean you are owning the coins the CFDs are based on, and that is the main difference between a crypto exchange and a CFD broker. Besides, here you may also check our list of brokers, offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Conclusion:

 

StockPoint  is a crypto exchange that offers a platform to buy or sell major crypto coins with an acceptable commission. Still you should have in mind that all crypto exchanges remain outside the regulatory framework of the financial authorities and that makes trading real crypto assets much more riskier than trading crypto CFDs with a properly regulated broker.

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Traders` reviews for StockPoint

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