Statrys Review 1
I had an excellent experience with Statrys. The customer services were so responsive and helpful with my personal currency exchange needs. Great service and thank you.
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I had an excellent experience with Statrys. The customer services were so responsive and helpful with my personal currency exchange needs. Great service and thank you.
Statrys has emerged as a notable player in the fintech landscape, particularly for small and medium-sized enterprises (SMEs) looking for flexible payment solutions. Overall, user feedback has been largely positive, highlighting the platform's user-friendly interface and responsive customer service. However, some users have expressed concerns regarding account approval times and regional restrictions.
Note: It's essential to recognize that Statrys primarily serves businesses incorporated in Hong Kong, Singapore, and the British Virgin Islands (BVI). This geographic limitation may affect accessibility for potential users outside these jurisdictions.
Category | Rating (out of 10) |
---|---|
Account Conditions | 8 |
Tools and Resources | 7 |
Customer Service and Support | 9 |
Trading Setup (Experience) | 8 |
Trustworthiness | 7 |
User Experience | 8 |
We rate brokers based on a comprehensive analysis of user feedback, expert opinions, and factual data from multiple sources.
Founded in 2019, Statrys is a Hong Kong-based fintech company that specializes in providing financial solutions tailored for businesses. The platform offers a multi-currency business account that allows users to hold and manage funds in various currencies, including HKD, USD, EUR, GBP, AUD, and more. Statrys is not a traditional bank; rather, it operates as a licensed money service operator under the Hong Kong Customs and Excise Department and as a small payment institution regulated by the UK's Financial Conduct Authority (FCA).
Statrys does not offer the trading platforms like MT4 or MT5 commonly found in forex trading but focuses on providing a streamlined payment experience for businesses. The company has facilitated over USD 2 billion in transactions, demonstrating its growing popularity among SMEs.
Statrys operates primarily in Hong Kong, Singapore, and the British Virgin Islands. Businesses incorporated outside these regions may face challenges when applying for an account, unless they belong to specific industries with ties to Hong Kong.
Statrys supports multiple currencies for deposits and withdrawals, including HKD, USD, EUR, and GBP. However, users should be aware of transaction fees associated with different currencies. For instance, receiving non-HKD payments incurs a fee of HKD 55, while sending international payments costs HKD 75.
There is no initial minimum deposit required to open a Statrys account, making it accessible for startups and smaller enterprises. However, a monthly maintenance fee of HKD 88 applies, which can be waived if users make five or more outgoing transfers in a month.
Currently, Statrys does not offer any promotional bonuses for new users. The focus remains on providing transparent pricing and excellent customer service rather than incentives.
While Statrys does not function as a traditional trading platform, it allows users to manage multiple currencies efficiently, making it suitable for businesses engaged in international trade and e-commerce.
Statrys maintains a competitive fee structure, with foreign exchange fees as low as 0.1% and a transparent monthly account fee. The platform charges HKD 5 for local payments in HKD, while international payments incur higher fees. Users should also note that ATM withdrawals come with a fee of 1.99% of the amount withdrawn.
Statrys does not offer leverage as it is not a trading platform. Its focus is on providing payment solutions rather than trading services.
Statrys does not provide traditional trading platforms like MT4 or MT5, but its web-based interface and mobile app allow for easy management of business accounts and transactions.
Businesses not incorporated in Hong Kong, Singapore, or the BVI may face restrictions when applying for a Statrys account. Some exceptions exist for specific industries, but overall, the service is tailored for businesses within these jurisdictions.
Statrys offers customer support in multiple languages, including English, Cantonese, Mandarin, French, Spanish, Tagalog, Hindi, and Thai. This multilingual support has been praised by users, contributing to the platform's strong customer service reputation.
Category | Rating (out of 10) |
---|---|
Account Conditions | 8 |
Tools and Resources | 7 |
Customer Service and Support | 9 |
Trading Setup (Experience) | 8 |
Trustworthiness | 7 |
User Experience | 8 |
Statrys offers a straightforward account opening process that is entirely online, which has been positively received by users. However, the geographic restrictions can limit accessibility, leading to a rating of 8.
While Statrys provides useful tools for managing multiple currencies and invoicing, it lacks traditional trading tools and features, resulting in a rating of 7.
User reviews consistently highlight the exceptional customer service provided by Statrys, with an average response time of just 15 minutes. This earned the platform a high rating of 9.
As Statrys is not a trading platform, its trading experience is not directly comparable to traditional brokers. However, the ease of managing payments and currencies contributes to an overall rating of 8.
Statrys is regulated and employs robust security measures, but the absence of traditional banking features may lead some users to question its reliability, resulting in a rating of 7.
The user interface is praised for its simplicity and ease of use, contributing to a solid rating of 8. Users appreciate the ability to manage their accounts seamlessly online.
In conclusion, Statrys presents an appealing option for SMEs looking for a modern, user-friendly payment solution, particularly those incorporated in Hong Kong, Singapore, or the BVI. While it has its limitations, the platform's strengths in customer service and competitive fees make it a worthy consideration for businesses aiming to streamline their financial operations.