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Is StockGlobal a scam broker?
StockGlobal is an offshore scam broker that provides a variety of accounts for the traders on the time tested MetaTrader platform. The owner of this brand is Longsdale Capital LTD based in Marshell Islands. It provides attractive four accounts with a high trading environment. Let’s analyze this scam broker thoroughly.
About the StockGlobal:
The four accounts offered by this scam broker are Bronze, Silver, Gold, and Platinum with the minimum deposit of $250, $2000, $10000, and $50000. Also, it provides the spreads of 2.8, 2.5, 1.5, and 0.1 pips respectively and fixed leverage of 1:300. StockGlobal provides traders with the most famous and trusted MetaTrader platform. Almost all the traders around the globe are aware of this software and found of it. StockGlobal is equipped with the high leverage of 1:300. This leverage can be loved by many traders because of its high earning capacity. On the contrary, it is also associated with a big loss. Also, StockGold provides its services in CFDs on currency pairs, stocks, cryptos, commodities, indices, etc.
As we have said in the overview and according to StockGlobal’s website the owner Longsdale Capital LTD, is operating from the Marshall Islands. This is heaven for the scam brokers as no regulatory body covers this area under its jurisdiction. Again StockGlobal’s ashore nature restricts its operations in regulated markets such as the US, Japan, EU, etc. No one can guarantee the safety and security of the trader’s funds.
It is evident that StockGlobal received several warnings against it by the Belgian local body the Financial Services and Markets Authority on providing services in Belgium. The official notice reads that investors are likely to be caught in fraud when investing in StockGlobal like unauthorized scam brokers. It also highlights the fact that the trader’s funds will not be recovered.
SockGlobal’s website features the spreads of 2.8 pips on EURUSD pair for its basic account. This spread is more than double offered in the regulated markets. Instead regulated markets provide around 0.1 pips on the same currency pair. Also, there are discrepancies in the trading environment on the demo account and live account. This is maybe to attract traders towards StockGlobal’s Ponzi scheme. The MetaTrader platform is provided by the third party that also manages another scam broker brand.
Is StockGlobal scam or legit?
Overall we can say that the StockGlobal is yet another shady, unlicensed, and unregulated scam broker. The trading environment is designed to attract traders and nothing else. With many warnings against this scam broker, it is advised to stay away from StockGlobal.