StoxMarket has three types of live trading accounts, plus a free demo account. The broker’s asset portfolio consists of the more popular forex pairs, gold, silver and CFDs on indices and stocks. It also offers trading in binary options.
StoxMarket also offers forex ECN trading with market execution, a leverage of 1:500, tight floating spreads and a commission of $8 per lot.
The Company. Security of Funds
Company Country Regulation
Marketier Holdings Limited Dominica No
StoxMarket is a brand of the company Marketier Holdings Limited based in the offshore zone Dominica. The country offers a 20-year tax break, quick incorporation and lax incorporation requirements.
Dominica is not among the most popular “destinations” among forex brokers, but one must always be extremely cautious when dealing with offshore brokers. The same is valid for StoxMarket, which on top of everything else, is not regulated. Generally the lack of any regulatory oversight means that client funds are at great risk in case the company goes bankrupt, for example.
Worse still, posts on some forex trader forums claim StoxMarket is a “scam artist” and “manipulates MetaTrader”. Some clients are also complaining with not being able to make withdrawals from their accounts.
We advise clients to choose regulated forex brokers, like the ones supervised by UK’s FCA or the Australian regulator ASIC.
StoxMarket provides two trading platforms: the ever popular MetaTrader 4 in its desktop version and its own StoxMarket platform as a web and mobile application.
The platform offers real-time data, user friendly interface, integrated web charting, several types of orders, order history, etc. It can be used with the username and password for MT4.
Methods of payment
StoxMarket says it accepts “most credit card Payment Methods”. It does not become clear whether those are available through the e-wallet platforms like PayPal.
There is nothing much that could be said about StoxMarket. It is an offshore and unregulated broker with very high initial deposit requirement being accused of scamming clients.
Those accusations, plus the rather unimpressive trading conditions, make it an unattractive forex broker.
StoxMarket Review Conclusion
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