Stella Markets is a broker that deals in cryptocurrencies, forex, commodities, stocks, equities and metals. The broker offers 4 types of trading accounts on the popular MT4 trading software. Whereas the trading conditions offered by this broker seams to be good, there are certain issues that traders will have against this broker. Stella Markets is quite controversial and although there are certain advantages that are tied to using this broker as long as they will not steal from you, the disadvantages also surpass the advantages. So in this review of the Stella Markets broker, we will talk about everything you need to know about the broker.
At this juncture, we should start with discussing their 4 different types of account packages. These are labeled Bronze, Silver, Gold and Platinum. The most basic account requires a deposit of $250 while Platinum requires a deposit of $1000. Minimum lot size that can be purchased is 0.01 lot and leverage is up to 1:200. Moreover, average pips start at 1.0 pips all the way to 1.4 pips. These trading conditions can be excellent for a trader who knows the impact of pips in their trading. If spreads are too higher, then the chances of losing a trade is also high. On the other hand, if spreads are tight and reasonable, then traders are able to increase their chances of making money.
Having said that, we will jump straight into the meat of the content, describing what this broker can do for you and what they cannot. But if you want to head straight to a regulated broker with less controversy or one that will give you a peace of mind while trading on their platform, our advice is to visit this page and select any of the brokers listed there.
Stella Markets offers trading of Forex and other assets in the popular MT4 trading platform. This is something that all traders will love because it is the most widely used trading software on the internet. Just in case you don’t know what MT4 trading software is, we will let you know that it is the industry standard for the last decade although competitors have recently joined the industry with some other trading platforms. These are yet to be accepted by traders.
Now, the MT4 trading software is interesting because it comes loaded with all the necessary tools needed to become a successful trader. By the way, it has a charting feature that is diverse and compatible with all types of trading indicators, whether manual or automated. If you just bought a trading indicator or a software for automated trading, you would quickly load it up on the software to start trading. It is even easier to use MT4 trading platform. No wonder traders are always considering brokers who have MT4 and its successor MT5 trading software.
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Stella Markets provides highlights of what traders can expect from their platform. With the kind of spreads which they are announcing, we can say that this broker offers friendly spreads. But again we have to test their live trading environment to determine whether or not this is the case. In terms of minimum deposit, it is at $250 which is relatively affordable for most traders although there’s still need to provide a lower minimum since some Forex brokers offers allow traders to start with as little as $50. Therefore, it’s upon you to choose whether or not you want to find brokers who allow trading with such a small deposit.
Leverage is also good. At 1:200, this leverage fits most trading styles out there. Unless you want something as high as 1:500, this can be described as an advantage to using this broker as long as they are not a scam. On top of this, the broker promises to offer a variety of trading assets which include Crypto currencies, Forex, commodities and so on. You can’t miss your favorite asset for trading on this platform. Now in the next section of this review, we will start discussing the negatives that are associated with trading on this brokers platform.
Not only are they an unregulated broker, but they were recently banned by the Australian financial regulator FMA. This broker is a trading name of a company called Goldstone Group Ltd. This company is registered in an off shore region called St. Vincent & the Grenadines (SVG). This region is a favorite among many Forex brokers because the Forex brokers who operate there are not subjected to strict regulatory conditions. It can also be a safe haven for scam brokers too due to the absence of regulatory conditions which restricts them from doing their evil.
However, we have also discovered that the Australian financial regulator recently warned the public against using the services of this broker. The financial regulator claimed that this broker was not authorized to carry out any form of financial transaction in the country of Australia. You might want to take this warning seriously because it could mean that Stella Markets is operated by skilled con artists whose mission is to lure people into making deposits so they can steal their funds.
This broker seriously needs to up their game in terms of how they market their services to customers out there. When we downloaded their MT4 software to test things out, we noticed that this software was being provided by a different company altogether called SpartaFX. We do not know how these two entities are related to one another but either way, this should make you uncomfortable.
Although this broker seems to provide attractive trading conditions which might fool people to sign up and make a deposit, the risk of losing money here is very real. One thing we have been advising traders not to do is to become careless with their money when it comes to choosing brokers. We have since decided to list good brokers here to clear things out in case a trader does not know what to do.
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