Fxstocktradex Review: A Bogus Trading Platform

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Fxstocktradex Review: A Bogus Trading Platform

A notorious broker is Fxstocktradex, as they steal your funds and block access to your account. FST is the other name that this broker goes by, and we have some damning details of the brokerage. There’s no actual trading taking place, and complaints are coming in from all corners. It seems FX Stock TradeX is another online scam that is desperate to steal the hearts of naïve investors. Before signing up with the platform, there are a few details you need to know about FXStock TradeX.

Fxstocktradex Review

A Brief view of Fxstocktradex

Once you land on their homepage, you get the feeling that this is a professional broker. All the aesthetic is meant to drive investors into believing that this is an experienced broker. Far from it, this is a ruthless broker who will steal your hard-earned money.

Immediately you deposit with them, it’s the last you will see or hear from them. And this disturbing trend must stop so that newbie investors can sign up with credible brokers.

A safer way of trading is having a reliable broker who will give you fair and transparent service. These brokers come highly recommended by experts and the trading community. Thanks to their reputation, they have over the years proven to be the best in the business. Try them out and start learning more about trading. With the help of brokers, you get a professional who will protect your interest. That’s what you need to succeed in the online trading world.

The website has a blue and white theme that looks professional. That’s the only part they got right. There’s too much information on the website, which can throw off anyone. Before you scroll down their homepage, you might doze off in the middle.

An excellent broker will be straight to the point. These scam brokers want to squeeze every bit of information on one page. And here’s where we spot our first red flag. The website lacks any meaningful pages.

Are funds safe with Fxstocktradex?

Members’ funds are not safe with a broker who lacks a valid trading license. The broker remains to be seen as credible weeks after their launch. After a thorough search, we can determine that these are offshore brokers.

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The entire platform has no location address, just a support email with no phone number. There is no way funds are safe with a broker who hides their information. Brokers should be available and transparent at all times for their clients.

Business owner

We don’t have the name of the person behind this platform. No broker seems to associate with the platform. And this is a pointer that we are dealing with an anonymous website. Anonymity brings problems as there’s no way of reaching out to the broker.

All the facts lead to a broker who wants to remain behind the curtains. Openness and transparency should be at the core of every trading platform. Without transparency, the broker may do shady things behind your back.

Comments and feedback from investors

Billy Frank on Trustpilot is one investor who was bold enough to share their experience. At first, the broker was nice to Billy, even offering free trading advice. After he made an initial deposit of $5,000, that’s when things turned messy.

He could no longer get access to his account or reach the broker. All his efforts to try and recover funds fell on deaf years. It’s what most victims face with anonymous online trading platforms.

Domain details ( review)

Fx stock tradex Features

It’s not surprising to see that the website is barely two months old when publishing this post. According to domain checker tools, the website went live on October 23, 2020. Claims on their website of having years of trading experience are hereby proven invalid.

These scam brokers will do or say anything to try and steal your funds from you. We are sure that the broker will change their IP once more complaints hit the web. It’s what these offshore brokers are known for.

Fxstocktradex License and Registration

FX Stock TradeX is an offshore broker with no valid trading credentials. There’s nowhere on their website do we get any information on their compliance. And this shows that the broker misleads members when signing the user policy.

The broker should be open about their compliance with investors. Some brokers will openly state that they are applying for a license and show the credentials. Fxstocktradex, on their part, doesn’t bother relaying this information to investors.

Without valid trading credentials, anyone who signs up with the platform is bound to lose their funds. The broker fails in their obligation to secure deposits made by members. All brokers should deposit a certain minimum deposit with regulators.

The deposit is an insurance cover in case a reimbursement and a compensation scheme is available. Without the minimum trading deposit, the broker is putting all funds in jeopardy.

Pros and Cons of Fxstocktradex

Account types

Fxstocktradex is not mentioning any details regarding the available account types. And this is a mistake as investors are signing up not knowing the features available. It seems that the broker offers three types of trading services, Crypto, forex, and stock trading.

We don’t have information on the available minimum deposit. The broker fails to mention this to mince every penny from investors. Some will deposit $5,000 and others $500 for the same account.

Client manager

FX Stock TradeX Spreads

The broker is not a professional despite claiming to offer a client manager. The name of the client manager is Lorem Ipsum. For those who are new to trading, this has been the industry’s standard dummy text.

And this is another red flag that we must raise for you to note. These scam brokers will often make mistakes, and it’s our duty to expose them and protect traders. There’s no client manager available on the platform, and it’s just a roost to entice investors.

Depositing and withdrawing with Fx Stock TradeX

There are several options for depositing funds with this broker. These options include Bitcoin, debit card, and wire transfer. Depositing funds in any platform is easy and takes less than five minutes to complete.

Withdrawing funds from such websites is the biggest hurdle you will face as a member. Billy has not been able to withdraw or track down where his funds went. Avoid such problems and sign up with industry-recommended brokers.

Trading platform available on FXSTOCKTRADEX

The broker claims to offer MT4 and MT5 trading terminals. These platforms are available for free and come with easy download settings. One issue we have with the broker is that the platform is not available on the accounts.

A screenshot sent by Billy shows that the broker actually offers a custom-made platform. The problem with custom-built platforms is that they lack essential trading features. You will miss out on important features such as stop-loss execution.

Scam or Legit Fxstocktradex

Fxstocktradex Trading Platform

Fxstocktradex is a scam, and no one should make you think otherwise. All the facts have been put out there for you to see. The broker is completely anonymous with no signs of going legit. Stay away from the platform.

Bottom line

To protect our readers, we won’t be recommending FX Stock TradeX.

Instead of having problems with unknown brokers, why not try proven professionals? Get the best out of trading by signing up with the best trading experts.

We wish you all the best in your trading.

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