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STO Review, Rating and Comparison

STO Review - Is stofs.co.uk scam or good forex broker?

RATING: 3.3 / 0 REVIEWS
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Trading Accounts

 

Account Type Minimum Deposit Minimum trade size Max leverage Spread Commission
Classic $100* 0.01 1:500 from 1.6 pips  no
Premium $2 000 0.01 1:500 from 0.3 pips $5/lot roundturn
Pro $10 000 0.01 1:200 from 0.3 pips $4/lot roundturn
AFX Fast $2 000 0.01 1:100 from 0.4 pips $5/lot roundturn

*FCA: $200/€200

 

There are four basic trading accounts offered by STO: Classic, Premium, Pro and AFX Fast. The Classic account is suitable for both beginners and professional traders. The Premium account is targeted at investors and offers tighter spreads and ECN trading conditions. As the name itself suggest, the Pro account is intended for professional traders, and offers superior execution speeds and lower spreads. All aforementioned accounts operate through the most popular forex platform MetaTrader4, while the AFX Fast account provides access to the STO’s institutional trading platform.


In addition, a demo account is also offered to newbies, as well as a Multi Account Allocation Manager account. The MAAM account enables asset managers to manage investments on behalf of multiple clients directly in their MT4 trading accounts.


The Company


SuperTradingOnline (STO) is a financial services provider in the European Union offering different ways of trading on the financial markets. STO’s clients can trade forex, indices, commodities, equities and bonds.


SuperTradingOnline is one of the trading brands of the AFX Capital Group, including UK-based AFX Markets Ltd. and AFX Capital Markets Ltd., headquartered in Cyprus, both of them duly regulated by the respective authorities.


Security of Funds


SuperTradingOnline.com is operated by two companies – AFX markets Ltd and AFX Capital Markets Ltd.


AFX Markets Ltd is authorised and regulated by the UK Financial Conduct Authority (FCA) and the other company within the AFX Capital Group, AFX Capital Markets Ltd., is licensed and regulated by the Cyprus Securities Exchange Commission (CySEC) and also registered with CONSOB, Italy’s Securities and Exchange Commission. Both FCA and CySec are trustworthy regulatory authorities, applying strict requirements to financial services providers, one of the most important being the minimum capital requirement. UK-based brokers are obliged to hold at least €730 000 and Cyprus-based ones - €1,000,000 in order to perform their business activities legitimately.


What is more, AFX Capital Markets Ltd. is also regulated under the Markets in Financial Instruments Directive (MiFID) in regards to offering cross border services and other offices within the EU under the MiFID Passporting Regime, allowing companies regulated in their "home state" to provide services to customers in other EU member states.


As regards the security of STO’s client funds, we would also like to point out that FCA-regulated companies fall under the umbrella of the Financial Services Compensation Scheme (FSCS), which protects consumers up to £50,000 per person per company. Likewise, CySec-regulated brokers are members of the Investor Compensation Fund, which secures the claims of the covered clients to a maximum of 20,000 EUR each. Here is a list of more FCA regulated forex brokers.


Trading Conditions


Minimum Initial Deposit
One of the most important things for forex broker clients are trading costs. The minimum initial deposit required from Cyprus registrants is $100 and for from UK ones - $200/€200, which is quite reasonable. FxPro for instance (also FCA- and CysSec-regulated), requires at least $ 500 as an initial deposit, while FXCM requires $50 from its clients so that they can start trading.

 

Spreads & Commissions
As regards spreads, STO offers comparatively low ones, their values varying based on the different account types: The Classic account offers spreads from 1.6 pips on EUR/USD, the Pro and the Premium account – from 0.3 pips on EUR/USD, and AFX Fast account offers spreads as low as 0.4 pips on EUR/USD.

As brokers are entitled to remuneration for their services, lower spreads usually mean higher commission fees and vice versa. Accordingly, STO does not charge commissions on the Classic accounts. The Pro and AFX Fast accounts have a commission of $5 per standard lot, round turn, while for the Premium account the commission is $4 per lot round turn.  

For purposes of comparison, FxPro offers average spread amounting to 1.4 pips on the EUR/USD for its commission-free accounts and average spreads as low as 0.4 pips on the EUR/USD for its cTrader accounts, charged $4.5 per standard lot.

Leverage
The maximum leverage level offered by STO is 1:500, which is comparatively high. The same upper level of leverage is also set by the leading broker FxPro, while FXCM, for instance, offers leverage up to 1:200, and UK-based HY Markets– up to 1:300. Of course, there are many brokerages, offering leverage as high as 1:1000 or even 1:2000 (such as Cyprus-based Exness), however one should keep in mind that leverage is a double edged sword: it can multiply your earnings on a small deposit, but it can also dramatically increase your losses.


Bonuses and Promotions

STO gives an annual 10% interest rate on the clients deposits. There is also a Trader's Rebate rewards program on the Classic and Premium accounts. 


Trading Platform


SuperTradingOnline offers its clients a choice of two trading platforms: the industry’s standard MetaTrader4 (Desktop and mobile versions available) and their own institutional trading platform AFX Fast. The MT4 supports automated strategies, offers extensive back-testing environment and provides a number if build-in technical analysis tools. Here is a list of more forex brokers offering MT4 paltform.


STO’s proprietary AFX Fast platform offers institutional level forex with no dealing room intervention.


So with STO, traders who are used to the most popular forex trading platform MT4, have the opportunity to continue to use it, as well as the option to try out the proprietary one.


Methods of Payment


There are various payment methods available to STO’s clients. Credit and debit cards are accepted (Visa and MasterCard), also Neteller, Skrill, WebMoney, QIWI, CASHU, Wire Transfer.


Bottom Line


SuperTradingOnline is a reliable broker owned by a global group and licensed by multiple regulators in the European Union. The company offers secure trading services with comparatively low spreads, as well as attractive promotions. Here are, in a nutshell, the advantages and drawbacks in relation to this broker:

 

Pros Cons
Well-regulated (FCA/CySec) Mediocre spreads
Choice of 2 trading platforms (MT4 included) No signals / copy-trading available
Wide variety of deposit/withdrawal methods  
30% welcome bonus  

 

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