Though StoxMarket claim to have been around since 2013, it seems that they have not really been a favorite broker, ever. Quite unpopular with limited marketing, they have managed to rob those that did cross their paths, but not enough to get a name out there for themselves until more recently. What I am noticing is that reviews and comments didn’t start really popping up until 2016, though there were some here and there. It seems they have decided to pump up their marketing and lure more traders to them, but the results have not changed. People don’t get their withdrawals, issues with the platform, and of course, a personal favorite, tampering with trades.
Founded: 2013 (though the domain was not registered until July of 2014)
Minimum Deposit: $300
Free Demo Account: Yes
Marketier Holdings Limited
3rd floor, C&H Towers, CNR,
Great Marlborough & Great George Streets
Roseau, Commonwealth of Dominica
+41 4 3333 8882
As I was unable to find any information on regulation on their website, I think it’s safe to say that this is not a regulated broker. Though the website seems very fresh and informative, it really doesn’t offer much on why they should be trusted. I visited their “About” page and got nothing more than more empty marketing rather than real information.
What does StoxMarket Scam Broker Offer?
See, I did some research and I am getting very contradicting information on the history of this company. Their website provides zero information on this, but I did find more on them through various reviews and found ranges of dates of when it was founded. From 2009 to 2013 to be exact. The fact that they have not worked with online traders until July of 2014 is what I think is most important. Still, they are not one of the new scam brokers out there, they have been in the game much longer and now tapping into the binary options scam piggy bank.
They offer a variety of tradable assets for the user as well as many commodities, indices, stocks, and currency pairs. Also, CFD’s and trades on the Forex market are available. They also offer plenty of educational material for newbies which is nice. But is that enough to say that they are a good broker? Far from it.
The StoxMarket offer 4 trading platforms.
- StoxMarket Webtrader – web based trader suitable for those that log into their accounts from various devices and locations.
- Tablet Trader – suitable for those that access their accounts via a tablet rather than a desktop computer. This is a MT4 platform that is suitable for both Apple and Android devices.
- Mobile Trading Platform – get real-time information on your phone. on your phone.
- Metatrader 4 – this is a popular Forex trading platform that most traders are already familiar with.
Honestly, though they really market this as being a big thing, I have found that nearly every single broker out there these days offers the exact same thing without having to try and break it down as if they are doing something special.
Here is where they got me thinking. Though their minimum investment is $300, it certainly does absolutely nothing about getting you any special features as you may get with other brokers. At least you would be considered as having some sort of account with them. In the case of the StoxMarket scam broker you are basically nobody to them unless you invest at least $1000.
- Beginner (Silver) Account $1,000-$4,999 – this basically gets you the standard that any other broker would offer for a minimum of $300 investment.
- Standard (Gold) Account $5,000-$19,999 – same as beginner with added News & Signals and Premium Daily Analysis
- Executive (VIP) Account $20,000+ – The exact same thing as the two above but you get the added Premium Customer Care (guess if you invest less than that you get less than quality customer care….the trader complaints prove it)
I tried to find more information on what these magical signals are that you get by investing a whole lot more, but I couldn’t. What is the guarantee that these signals are quality? Who do they come from, and why should they be trusted? This, among other questions has me wondering whether they had just added these “Account Types” just to have more information on their website, not necessarily because they mean anything.
Ok, just wanted to throw this in there real quick because it really bothered me. Decided to check out their testimonials page to see what traders are saying and they have used the oldest trick in the book. Don’t add images unless you have real testimonials and real people behind them! They can be searched and proved to be complete lies.
Here you will read about David O’Donnell, yet he is pictured in their testimonials as Doug Conlin. I just want to underline again, the website was not up until 2014, while this article is from 2012.
What Traders are Saying about StoxMarket Scam Broker?
Well, this definitely convinced me that this is not a broker that should be trusted. Nearly every single review (except the obvious paid positive reviews that carefully filter their comments) of this scam broker had numerous discussions and comments from angry and frustrated traders that have not gotten their money, that have lost their profits because of tampering in the platform, or had their accounts closed without reason.
Also, they make a lot of empty promises and never deliver, not to mention the fact that people get lured into the most horrid lie of all, the broker bonus. I cannot stress this enough, ALWAYS read the bonus terms before accepting any sort of bonus from a broker. This basically traps your money until you have lost it all, preventing you from ever withdrawing it. Though this is just as much the traders fault as the brokers, they definitely rely on the fact that you will not go seeking out their broker bonus terms to get informed. They also don’t make it very easily available so anyone so interested can see it upon accepting it. There should be warnings on the terms that you must meet before being able to withdraw, especially when it comes to newbie traders that have no idea that these bonuses come with special terms.
Either way, just from reading the many negative reviews, the fact that they can’t seem to provide the simplest information and history on themselves, the contradicting information as to when they were founded, and in general, the whole deal with the numerous fake positive reviews and comments in complete contrast to some very honest and detailed negative reviews, I believe that StoxMarket is a scam broker!