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A black-themed forex investment platform is not common; Stocks24 is using it as their design. The platform claims to be regulated in Vanuatu but fails to provide documents. All we have is their word that they have undergone supervision from authorities. Stocks 24 is using an offshore regulator to avoid strict oversight from reputable forex regulators. From what we have seen, stocks24.com does provide fair leverage. Here’s the full STOCKS24 REVIEW.
The platform mentions little to no details about their background and history. We don’t know whether they have any prior investment service experience. All we have is a website claiming to have top-notch trading platforms.
When it comes to trading platforms, Stocks24 is not shy in providing industry-acceptable trading platforms. Even their trading conditions seem fair to us. The leverage used is in line with those of reputable investment platforms.
One reason why the platform faces a daunting task in making us believe their credibility is regulation. With a Vanuatu license, we feel the platform is hiding from strict regulations. It offers the right services but fails in the most important aspect of them all, compliance.
You want an investment platform that guarantees safety for your funds. And this is the reason investors are turning to Coin Staking, DeFi, and Masternoding. These are the leading investment options for all classes of investors. Give them a try.
Going back to stocks24.com, you have to give it to them for coming up with an industry-friendly name. Looking at TrustPilot reviews, there’s only one comment which suggests the platform is new.
There are not a lot of users on the platform, making it difficult to judge the experience. But, interestingly, the platform has been running for over 7,327 days as we publish this post. And still, only one disturbing comment, to say the least.
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When you look at their online presence, there’s nothing tangible on them. The platform has low trust scores even from leading search engines. And this could point out the reason why not everyone is joining the platform.
Stocks24 offers four account types to investors. The accounts listed include Micro, Classic, Premium, and VIP. These accounts share similar features, which include a personal account manager and e-Books.
Here’s a closer look at each account offered by stocks24.com;
Micro
It’s the most basic account and is a fit for beginner traders. However, we have a problem with all their accounts for one major reason. The platform fails to mention the acceptable minimum deposit. And this means they could be taking advantage of investors.
Classic
With the classic account, members get live professional trading sessions with streaming news. You also get exclusive daily market analysis with automated trading signals. There’s a personal account manager available for this account as well.
Premium
The premium account offers investors a chance to use advanced algorithmic trading tools. According to the platform, the account is best for traders who want personalized tight spreads. Thus, it’s more of a customized account than the rest.
VIP
For a premium experience, the VIP account offers all the above features and more. Some of the notable features include asset management services and one on one expert consulting. You also get access to exclusive trading terms and VIP promotions.
Every member gets an account manager which is thoughtful of them. We, however, have questions regarding their skill levels. Unfortunately, there’s not a single mention of any name associated with these professional managers.
In essence, your funds are managed by an unknown person whose interaction is minimal. You only get to hear the account manager when they call to ask for more deposits. In most cases, they claim to have found a profitable venture that requires more funds.
It’s the one time they call, and most investors will deposit hoping to get a piece of the cake. But, unfortunately, without any profiles of these professional account managers, we are left with more questions.
Although the platform mentions having advanced algorithmic trading tools, we reserve our comments. The platform fails to indicate how the tools work or the accuracy they bring to the table.
If the platform offers automated trading signals, they likely have bots working. Still, we don’t find any information about the bots or the accuracy of signals. The platform also fails to mention available trading strategies or whether one can use customized trading strategies.
Interestingly, the platform does offer bonus accounts to members. Therefore, it’s good to try out the demo account and get a feel of their trading platform. The benefits of using a demo account include practicing using strategies and virtual funds.
You determine your skill level and the outcome under real market conditions. It’s a perfect tool for beginners to create their own skill levels. We recommend testing out a demo account before committing to a real account.
The platform only accepts credit and debit card transactions. Some of the available trading conditions include Maestro, MasterCard, and Visa. However, when it comes to withdrawals, it’s where things turn murky.
Stocks24 fails to mention how long it takes to withdraw with each account. And this is probably the reason why investors are shying away. Of course, you would want to know how long it will take to withdraw funds from the platform.
Without the platform listing the duration, it leaves members guessing. We would prefer to have a platform with detailed withdrawal terms and conditions. In addition, the platform should inform users of all transactions available on the platform.
Yes, the platform is registered in Vanuatu, and this is according to their statement. Unfortunately, the legal page does not have any information regarding their license. All we have is their word that they are licensed in Vanuatu.
To straighten things out, we only recommend using platforms regulated by reputable platforms. So any platform regulated by ASIC, BaFIN, CONSOB, CySEC, FCA, FINMA, and SEC is good to go.
We don’t even get to see their license or registration number, which is quite disturbing. The platform ought to post copies of their license for all to see. And this is another reason why we doubt the credibility of Stocks 24.
The only way to make contact is by sending an email. There’s no direct contact such as live chat or using a phone. And this makes us question the accessibility of the platform. The investor should contact such platforms and get immediate responses.
One thing the platform got right was availing industry-acceptable trading terminals. You can use MT4 and MT5 on these platforms. In addition, the platforms come with fast execution and intuitive trading tools.
Stability is another reason why we love MT4 and MT5 trading terminals. When trading, you are guaranteed a safe trading experience.
Your funds are far from safe with an offshore-regulated platform; that’s just the bitter truth. No matter how appealing a platform is, without regulation from reputable platforms, there’s a risk. And this is why everyone is staying away from Stocks 24 due to their offshore regulatory framework.
Here are the reasons why we won’t recommend signing up with stocks24.com
These are the main reasons why we will add Stocks 24 to our blacklist.
Get the best out of investing by using appropriate platforms that guarantee security. It’s the only way to invest and earn reasonable returns.
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Unprofessional company and account managers
I had very short and bad experience with them losing my investment in less than a month. The highest priority for them is to withdraw as much as they can from you very quickly before you discover that you will lose all of your money and they preventing your fro withdrawn the rest of your investment, my advice don’t work with them at all