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Marketier Holdings Ltd. from Dominica launched StoxMarket, operating from a country that facilitates a 20-year tax break in addition to quick incorporation. When it comes to Forex brokerage, Dominica doesn’t seem to be popular and this is why most of the investors doubted the offshore stigma…
StoxMarket offers a couple of platforms for binary which include MetaTrader4 (for desktop users) and StoxMarket app for smartphone users. Thanks to the popular MT4 software, the platform successfully managed to satisfy the users looking for real-time trends, fluctuations, friendly interface, order history, and integrated web charts.
If you are looking for a Forex Trading platform, you need to first have an insight about the company’s information, background, policies, compliance with the regulations, and the cons associated with the service. StoxMarket scam news is as viral as any of other unregulated offshore platforms. Let’s see how this platform has performed over the years.
This is going to be quite a detailed & lengthy review so to make things easier for you we’ve put together some quick navigation links below. Just click on any of them & you’ll be taken directly to that section of the review.
- StoxMarket Background
- Is StoxMarket Regulated?
- StoxMarket Complaints
- StoxMarket Withdrawal
- Is StoxMarket a Scam?
- Our Verdict on StoxMarket
- Get Your Money Back From StoxMarket
- A Better (Legit) Way To Make Good Money
Owned by Marketier Holdings Ltd. Marshall Islands, StoxMarket is an offshore brand that offers Forex trading brokerage. The good news is that its website is still working and serving the visitors. This is an encouraging discovery because most of the unregulated brokers have vanished and we don’t find a direct source of information.
InOut Capital LP, Scotland UK (EH3 6SW) administers the billing and clearing services on the behalf of StoxMarket. Please note that the above-mentioned addresses are suggestive of virtual offices.
The bad news is that various regulatory authorities have issued warning against StoxMarket in the past. These warnings are about the alleged robotic scams. Some warnings also reveal that the company might have been manipulating the MT4 software.
Is StoxMarket Regulated?
Unfortunately, we once again have to say that StoxMarket is NOT regulated under any legal authority. So, until now, only one point is going in favor of the platform that its website is still accessible. Rest of the signs are not encouraging though.
- StoxMarket was mentioned by CNMV in the public warning list issued on 25.09.2017.
- FCA issued a warning against Marketier Holdings as well as StoxMarket for not complying with the regulations (12.06.2017).
- Consob also mentioned StoxMarket in the public warning list (02.10.2017).
- BCSC issued warning against StoxMarket suggesting that the broker is offering its services in Canada without regulations (16.12.2016).
The most frequent complaint against StoxMarket is the alleged use of robotic. This platform is not alone in this regard so investors link it with Freedom Circle, 1k Daily Profit, and Binary Options Auto Trading, all of these platforms have a malicious history.
The imposition of a strange restriction is also the highlight of the complaints against the company. StoxMarket never denied the use of auto-traders and they called it the best way to make a profit from the Get-Rich Schemes. But they imposed a restriction that an investor can’t withdraw his/her money before completing 20 trades.
Well, just pause here for a moment and think! When I have to make 20 trades, how much money would remain at my disposal to withdraw? The company offered bonuses. But all investors know that these bonuses are irritating because they tie your money up and you can do anything without paying a fee.
An investor used this platform for almost 18 months only to conclude that it is virtually impossible to withdraw your money once you deposit it to your account. He narrates that the reps keep asking for further deposits. They offer your extremely bad suggestions.
Well, once again we have to run through the same old complaints which we often witness with other unregulated brokers. Malicious manipulation, failure to withdraw your money, delaying tactics and pushy salesmanship are the most common and frequently received complaints about this platform.
The terms and conditions on the website suggest that you can withdraw your money only if your account has open positions. We don’t really saw this rule with any other regulated or unregulated broker.
StoxMarket charges $25 for each withdrawal. In the case of using an Autotrader affiliate website to make a deposit then the withdrawal fee jumps up to $100 (if you try to withdraw without running 20 trades through the robot/AutoTrader).
Is StoxMarket a Scam?
The history of the parent company dates back to 2009 and it entered the Forex trading market in 2014. Considering that the company is not registered, and repeated warnings issued by the regulatory authorities, and the nature of complaints against the platform, we are convinced that StoxMarket scam allegations are true.
On top of all the negative points, we don’t find a reason to opt for a platform that imposes strange restrictions, especially regarding the withdrawal policy. How come on earth can a broker hold the investor’s money until a certain number of trades are made? This is something really strange, weird to be honest.
Our Verdict on StoxMarket
We are extremely sorry to see another platform biting the dust. Never invest with StoxMarket or the likes of this platform. Everything on the internet is against this broker. Even the policies on its own website are strange. Of all the brokers we’ve reviewed till date, StoxMarket stands out as the worst.
The continue to make false promises, deny warning against their services, and working without acquiring legal permission in certain countries, Canada for instance. If we were given a choice to rank all regulated and unregulated brokers, we’d have dug StoxMarket inside the deepest of ditches, just the way this platform ditched its clients into the gravest of disappointments.
Get Your Money Back From StoxMarket
Have you already been scammed by StoxMarket prior to coming to this review? We’re obviously very sorry to hear that, but there is actually a good chance of you being able to get your money back.
We’ve put together a free money reclaim guide which walks you through the exact steps you can take to stand the best chance of being reunited with your funds & to date that exact guide has helped thousands of people successfully get a full refund.
So if you have been scammed or lost money to StoxMarket then we highly recommend you check it out & you can get access to it right now for free by clicking here.
A Better (Legit) Way To Make Good Money
Whether you have or haven’t been scammed by StoxMarket, the truth is we don’t recommend them & we don’t recommend binary options trading in general… But there are actually better ways to make money online.
We’ve come across several VERY good ways (and of course legit ways) to make money online whilst conducting our investigations into scam brokers & there has been one opportunity in particular which has stood out from all the rest.
We have given this opportunity the crown of our number 1 recommendation for working from home & you can get access to it for free by clicking the link below: