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Stockcore.co Review: A Damning Broker

Stockcore.co Review: A Damning Broker

Stockcore.co states that innovation is power and claims to be completely transparent. Once you land on their homepage, you might tilt towards signing up. Novice traders have made that mistake and are now ruing the decision. With red flags all over the website, only a keen eye would spot the traps. That’s our duty to protect investors from platforms that try and steal from investors. Stock Core is the website trying to scam investors. Learn more in our stockcore.co review.

Stockcore.co Review

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About Stockcore.co

According to their core values, the broker wants to make things simpler and being innovative. Other values include honesty and transparency, which is far from what they actually provide. Those who have already signed up with the broker are now ruing the decision.

The broker is disregarding their attempts to withdraw funds. And this is the reason why we must expose the broker. Stockcore.co is not a valid trading platform as the website would suggest.

All facts point to a broker running away with funds. Our investigations revealed the attempt from the broker to stay anonymous. The platform has not responded to any of our emails, including those of members.

Withdrawing funds with the platform remains the biggest hurdle facing investors. This is why we must stay away from the broker and expose their dirty dealings.

Account opening procedure

Opening an account with Stock Core is easy, and the process takes less than five minutes to complete. This is, of course, if you’re willing to send valuable documents as proof of identity. That’s where our signup process ended, as we couldn’t imagine sending these documents.

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During the validation process, the broker asks for various documents. These include bank statements, a copy of your ID, and credit card information.

Over the years, we have seen offshore brokers who ask for these documents with a hidden agenda. With your bank details, they can easily buy goods and services using your credit card.

The broker might also decide to wipe clean your bank account. This is the reason why the broker is a huge red flag for us.

Available trading instruments

The broker avails of five trading instruments to investors. These include commodities, crypto, forex, indices, and stocks. Most of the shares you find are from leading global companies such as the FAANG group.

There’s not much information regarding leverage and spread. With digital money being the youngest market, everyone wants to get their hands on it. It also leaves space for scam brokers to take a swing at scamming unsuspecting investors.

Business holder

According to their terms and conditions page, Konstos Market Ltd owns this platform. The parent company is apparently registered in the British Virgin Islands. All these are claims the broker merely puts out there, hoping no one investigates.

We have to do our due diligence and check whether such a company exists. It turns out that the FSC does not list the company. There’s an official statement from BVIFSC regarding the company’s ill-intent.

We also found out that the company was involved in another scam. The company was the owner of StockLux, another proven online scam. It goes to show the extent these scam artists will go to defraud unsuspecting investors.

Thanks to our investigating team, we can now prove this is a fraudulent trading platform.

Comments and complaints from members

Stockcore.co Comments from users

As we started investigating the broker, we checked various trading forums for any chatter. There were a few investors who fell victim and decided not to indulge further. Most of the victims all face the same issue.

None of them would gain access after making deposits. The few who claim to withdraw funds don’t show proof. There are paid online users who post positive comments on behalf of the broker.

Domain insights

During the publishing process, we found out that the website went live on December 22, 2020. This means that the website is 113 days old as we publish this post. The name of the registrant is redacted for privacy reasons.

There’s no way the registrar would want their names available to the public. It goes to show that the broker wants to hide behind the veil of anonymity. That’s another reason to shun any interaction with the broker.

Features of Stockcore.co

Account types

Stockcore.co offers three account types to investors. These include Newbie, Standard, and Premium. Newbie account holders deposit $250 as a minimum deposit while the others deposit $2,500 and $25,000.

We found that the broker does not offer support for newbie account holders. This is probably the reason no one can get a hold of the broker. It’s also a sign that the broker does not care for the welfare of beginner traders.

StockCore Account Types

Bonuses

The broker offers a welcome bonus on all accounts. The broker gives no exact number on the account’s page. We can tell you that accepting their bonuses is a death wish. The broker will use the bonus to leverage clients to deposit more funds.

You won’t get access to your funds unless you deposit a certain amount of money. In reality, the broker is taking your account balance for ransom.

Contact and support

There’s a claim on the account’s page that the broker offers expert support to Standard and Premium account holders. Only premium account holders get premium support from the broker. That begs the question, what’s the difference between expert and premium support.

All these are features meant to drive investors into signing up with high-end account types. The broker should offer live chat support to all classes of investors.

Payment options

You get to use Bitcoin, Maestro, MasterCard, and Visa as depository options. The broker claims to collaborate with leading banks which are not true. If any bank were affiliated with the broker, there would be a press statement from the bank itself.

Trading platform Stockcore.co

StockCore is using a custom-built trading platform which is far from ideal. The platform lacks advanced trading tools. Users also lay blame on the platform for slowly executing trades. We only recommend using MT4, MT5, and SIRIX terminals with proven brokers.

Safety of funds with Stockcore.co

There’s no safety of funds from a broker whose parent company is listed as a threat. The broker fails to follow trading guidelines such as segregation of accounts. Once you deposit funds, the broker immediately transfers them to a private account.

Don’t bother hiring recovery agents as they don’t have the capability to recuperate funds from offshore banks.

Scam or Legit Stockcore.co

Stockcore.co Trading Platform

Stockcore.co is a scam, and the evidence is there for you to see. You might not have seen it before but, our investigation proves it without a doubt. Steer clear of this and any other broker with the same qualities.

Avoid interacting with their call agents or sending banking information through the website.

Bottom line

After evaluating the website, we won’t recommend the broker. We will instead add the broker to our blacklist.

Choose wisely and go for brokers who enjoy the backing of experts and the trading community. Use the best brokers in the business for a profitable trading experience.

We wish you all the best in your trading.

 

 

 

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