Barclay Stone Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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Worst broker I ever met, it is unregulated at all. Don’t put in your money here. I encountered high slippage during my eur/cad trading. Their customer service is not helpful at all.
Summary: The overall evaluation of Barclay Stone as a forex broker is predominantly negative, with numerous reports indicating it operates as an unregulated entity that potentially engages in fraudulent activities. Key findings highlight the lack of regulatory oversight and significant user complaints regarding withdrawal difficulties and aggressive sales tactics.
Note: It is essential to consider the varying regulatory environments across different regions, as this broker appears to exploit these discrepancies. The analysis presented here is based on a comprehensive review of multiple credible sources to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 3 |
| Trading Setup | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
We score brokers based on a combination of user feedback, expert analysis, and available factual data.
Founded in 2020, Barclay Stone presents itself as a forex broker offering a range of trading instruments, including forex, stocks, commodities, indices, and cryptocurrencies. The broker primarily operates on the MetaTrader 5 platform, which is widely recognized for its advanced trading capabilities. However, it is crucial to note that Barclay Stone lacks any legitimate regulatory oversight, raising concerns about the safety and security of client funds.
Barclay Stone is registered in St. Lucia but operates without any valid regulatory license, which is a significant red flag. According to the Polish Financial Supervision Authority (KNF), the broker has been flagged for its dubious practices, indicating a complete lack of compliance with necessary regulations (source). This absence of regulation means that clients have no protection and are at risk of losing their investments without recourse.
Barclay Stone accepts deposits through various methods, including bank wire transfers and credit/debit cards (Visa, MasterCard). The minimum deposit requirement is set at $250. However, users have reported significant challenges when attempting to withdraw their funds, with many experiencing delays and outright refusals (source). This issue is exacerbated by the broker's imposition of high withdrawal fees and a monthly inactivity fee of $100 for dormant accounts.
The minimum deposit to open an account with Barclay Stone is $250, which is relatively low compared to other brokers. However, the lack of a demo account is concerning, as it prevents potential users from testing the platform without risking real money. Additionally, there are no notable bonuses or promotions offered, which is typical for unregulated brokers (source).
Barclay Stone claims to offer a diverse range of trading instruments, including major and exotic currency pairs, commodities like gold and oil, and a selection of cryptocurrencies. However, information on spreads and commissions is vague, leading to concerns about transparency in trading costs (source). The maximum leverage offered is 1:400, which is common among offshore brokers but also increases the risks associated with trading.
The broker provides access to the MetaTrader 5 platform, which is known for its robust features, including algorithmic trading and advanced charting tools. However, the web-based trading platform offered by Barclay Stone lacks the sophistication and functionality expected by experienced traders, which may hinder performance (source).
Barclay Stone primarily targets traders from countries with stringent regulations, such as the US, Canada, and various European nations. This poses a significant risk for potential clients, as the broker is not authorized to operate in these jurisdictions, making it illegal and potentially fraudulent (source).
Customer support at Barclay Stone is limited, with only email and phone support available. The lack of comprehensive service options and the reported difficulties in reaching support representatives raise further concerns about the broker's reliability (source).
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 3 |
| Trading Setup | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
Account Conditions: The absence of a demo account and the low minimum deposit requirement are overshadowed by the lack of regulatory oversight, which significantly affects the overall account conditions.
Tools and Resources: While the MetaTrader 5 platform provides essential tools for trading, the web-based platform lacks advanced features, limiting traders' capabilities.
Customer Service and Support: Users have reported slow and inadequate customer support, with many facing difficulties in withdrawing funds and receiving timely assistance.
Trading Setup: The trading experience is hampered by unclear costs and fees, along with the aggressive sales tactics employed by the broker.
Trustworthiness: The lack of regulation and numerous negative reviews from users highlight significant trust issues, making Barclay Stone a risky choice for traders.
User Experience: Overall user experiences are mixed, with many expressing frustration over withdrawal issues and the broker's pushy sales tactics.
In conclusion, the Barclay Stone review paints a concerning picture of this broker, marked by a lack of regulation, numerous user complaints, and significant risks associated with trading on their platform. Potential clients are strongly advised to exercise caution and consider regulated alternatives for their trading needs.
