StoxMarket Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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Avoid this company, Withdrawal is not guaranteed. I went through hell getting them to pay me and they locked me out of my account, stopped responding to my mails. I had to get my money back through a service and i am glad i have it back now. REEB.FAN
StoxMarket, an offshore forex broker, has garnered a mix of opinions in the trading community. While some users have reported positive experiences, the overwhelming consensus is that it poses significant risks due to its unregulated status and numerous complaints about withdrawal issues. This review aims to provide a comprehensive analysis of StoxMarket, highlighting key features, user experiences, and expert opinions.
Note: It's important to consider that StoxMarket operates under different entities depending on the region, which can impact the level of service and regulatory oversight. The following evaluation is based on a thorough analysis of various sources to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Overall Experience | 2 |
How We Rate Brokers: Our ratings are based on user feedback, expert insights, and factual data collected from multiple reviews.
Founded in 2008, StoxMarket is owned by Marketier Holdings Limited and is headquartered in the Marshall Islands. It offers access to a variety of trading platforms, including the popular MetaTrader 4 (MT4). The broker claims to provide trading opportunities in forex, CFDs, commodities, indices, and cryptocurrencies. However, it is crucial to note that StoxMarket operates without any regulation from recognized authorities, raising concerns about its legitimacy.
StoxMarket is primarily based in the Marshall Islands, which is known for its lax regulatory environment. This lack of oversight means that traders have limited recourse in case of disputes or issues. Regulatory bodies in various jurisdictions, including the UK‘s FCA and Canada’s BCSC, have issued warnings against StoxMarket, highlighting its unregulated status and potential risks.
StoxMarket accepts deposits and withdrawals in several currencies, including USD, EUR, and GBP. However, users have reported issues with withdrawals, often citing delays and additional fees. According to various reviews, withdrawal requests can take anywhere from a few days to several weeks, with fees of up to $100 imposed under certain conditions.
The minimum deposit required to open an account with StoxMarket is reported to be around $1,000, which is considered high compared to other brokers. This barrier to entry may deter new traders, particularly those looking to start with smaller amounts.
StoxMarket offers various bonuses, but these often come with stringent conditions that make it difficult for users to withdraw their funds. Many users have expressed frustration over the requirement to complete a certain number of trades before being allowed to withdraw their initial deposits or bonuses.
StoxMarket provides access to a diverse range of asset classes, including over 60 forex pairs, commodities, indices, and cryptocurrencies. However, the lack of regulation raises questions about the safety and integrity of trading these instruments.
The spreads offered by StoxMarket are reported to be fixed at around 3 pips, which is relatively high compared to other brokers. Additionally, users have reported various hidden fees, including withdrawal fees and inactivity fees, which can significantly impact trading profitability.
StoxMarket offers leverage of up to 1:500, which can amplify both profits and losses. While high leverage can be attractive to traders, it also increases the risk of significant losses, especially for inexperienced traders.
StoxMarket supports the MT4 trading platform, which is widely recognized for its user-friendly interface and robust features. However, some users have reported issues with the platform, including claims of manipulation and technical glitches.
StoxMarket does not accept clients from several countries, including the United States, Japan, and various others. This restriction limits its accessibility for many potential traders.
StoxMarket offers customer support in multiple languages, including English, Spanish, and Russian. However, user reviews indicate that the quality of customer service is lacking, with many users reporting slow response times and unhelpful support.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Overall Experience | 2 |
Account Conditions: The high minimum deposit and lack of regulation contribute to a low rating. Users have reported difficulties with account management and withdrawal processes.
Tools and Resources: While StoxMarket offers MT4, the overall resource availability and educational content are seen as lacking compared to regulated competitors.
Customer Service and Support: The customer service experience has been criticized for slow response times and unhelpful interactions, leading to frustration among users.
Trading Setup (Experience): Users have reported mixed experiences with the trading platform, citing issues with execution and potential manipulation.
Trustworthiness: The unregulated status of StoxMarket and numerous complaints about withdrawal issues significantly undermine its trustworthiness.
User Experience: The overall user experience is marred by reports of scams and difficulties in accessing funds, leading to a poor reputation in the trading community.
In summary, StoxMarket presents significant risks for potential traders, primarily due to its unregulated status and numerous complaints regarding withdrawals and customer service. While it offers a range of trading options and tools, the lack of oversight and negative user experiences raise serious concerns. For those considering trading with StoxMarket, it is highly recommended to explore regulated alternatives to ensure a safer trading environment. As always, traders should conduct thorough research and consider their risk tolerance before engaging with any broker.
