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In response to the expectations of the traders, various brokers offered CFD in addition to the Forex and Binary Options and CFDStocks is one of the prominent brokers in this regard…
Contract For Difference (CFD) gained exceptional popularity over the past few years. This is what helped CFDStocks to attract more and more traders from various regions. The broker offered relatively simpler platform.
Are you the one interested in CFD trading? Some of our readers have requested a review on this popular broker to know the story behind the CFDStocks scam complaints and public warnings. In this review, we’ll cover all the important factors which made this broker popular and also those which brought it down to dust.
We always conduct thorough reviews here at Stopping Scammers and as a result sometimes they can be known to get quite lengthy so to make things easier for you we’ve put together some quick navigation links below which you can use to jump straight to the information that you came here looking for.
- CFDStocks Background
- Is CFDStocks Regulated?
- CFDStocks Complaints
- CFDStocks Withdrawal
- Is CFDStocks a Scam?
- Our Verdict on CFDStocks
- Scammed By CFDStocks? Reclaim Lost Money
- Our Top Recommendation For Making Money
CFDStocks was operated from London (UK) by Pacific Sunrise UK Ltd. and the website mentioned the following number…
+44 203 807 2167
In addition, there was a number to contact the office in Australia
- +61 39 021 2441
The platform was fairly simple and was appealing for the new traders. The registration process took no more than 5 to 10 minutes. You simply had to enter your name, email address, password, phone number, postal address, country, and currency. You could choose from EUR, GBP, AUD, and USD.
CFDStocks offered various bonuses but you had to meet certain requirements to avail these bonuses. The requirements were mentioned loud and clear in the FAQ section. Bonus + 30xDepist was the minimum turnover required for the withdrawal.
CFDStocks based its platform on SpotOption that allowed the traders to try their luck with standard binary options. The broker promised up to 85% returns. SpotOption is known for its extensive list of assets, in this case, it was over 180 assets which included Forex Options, Ladder Options, Pairs, One-Touch Binary, and Long-Term. In addition, the platform offered some promising commodities including Platinum, Gold, and Oil. $250 was the minimum deposit to start trading via CFDStocks.
Is CFDStocks Regulated?
CFDStocks was NOT regulated. In fact, ASIC (Australia) issued a public warning claiming that this broker was not authorized and it could a scam.
On 23-03-2017, FSMA (Belgium) issued a warning against CFDStocks, AAOption, and Pacific Sunrise UK Ltd. claiming that the platforms were offering extremely risky instruments which don’t comply with the laws set by the Belgian legislation.
In addition, the content of the warning mentioned that neither of the above-mentioned platforms possessed any legal authority to offer investment or financial services. Belgian laws had already banned all electronic trading systems offering options with less-than-an-hour maturity or any type of leverage (authorized or not) since 18-08-2016.
Serious warnings against CFDStocks helped the traders to avoid this platform. Clients have mentioned some incidents of withdrawal failure. Some complaints are suggestive of the pressurizing tactics applied by the broker’s representatives. The nature of these complaints is similar to all the complaints we expect from an unregulated broker. There is nothing new, but the good thing is that the timely warnings from the legal authorities saved hundreds of traders from losing their money.
Credit Card was the most preferred withdrawal method offered by CFDStocks. The platform entertained Visa, Visa Electron, Delta, MasterCard, Diners, Solo, Maestro UK (Switch) and Maestro.
In the case of a withdrawal via Maestro, you had to go through the 3D verification process by visiting your bank.
The broker also offered the conventional Wire Transfer for the processing of withdrawal. It charged some processing fee and the amount depended on the bank, so it wasn’t clearly mentioned on the website. You had to contact the customer support to calculate the exact fee.
Is CFDStocks a Scam?
We can confirm CFDStocks scam complaints because there is not much information available regarding any serious cases filed from the clients. But one thing is for sure that the platform was closed soon after the FSMA warning in March 2017.
Our Verdict on CFDStocks
There is no reason to trade with an unregulated broker. Even you need to be extra careful in the case of a regulated broker. The reason is that some of the regulated brokers were also banned by the regulatory authorities because they failed to operate their platforms while complying with the regulations. CFDStocks is a prime example of a total failure right from the beginning. But we can see that the regulatory authorities across the globe are now more active than ever before to bring to our notice the actual legal status of these brokers.
Scammed By CFDStocks? Reclaim Lost Money
CFDStocks has just recently closed its doors, and when it did its website immediately went offline. This is good news for future traders as it protects them from falling victim to CFDStccks, but obviously it’s not so good for active traders who had not yet made a withdrawal.
What can you do if you had money to withdraw from CFDStocks? How can you get your money back? No doubt those are the questions running through your mind if you traded with them but fear not, you have landed in the right place.
We have put together a free money reclaim guide which shows you step-by-step exactly how you can reclaim lost funds from a binary options scam & so if you have lost money to CFDStocks then we know the guide will help you get it back.
Our Top Recommendation For Making Money
Were you planning on trading with CFDStocks to make some money? No doubt you will be disappointed to hear that it was a scam that has since closed, however don’t worry – there are plenty of other legitimate ways to make good money.
Whilst carrying out our investigations we have come across many legitimate ways to make good money online however there has been 1 way in particular that has stood out from all of the rest.
This particular way is so good that was have actually decided to name it our number 1 recommendation for working from home & if you are interested in it you can find out more by clicking the link below: