STForex Review – Extreme Conditions And Low Credibility

Offshore trading firms are generally a Pandora’s box. Fairly, you never know what to expect from them, especially if they are not appropriately regulated. However, when a company has been operating since 2014, there must be something behind it.

Usually, the only difference between offshore firms comes from regulatory oversight. To find out if this trading firm has it and if you can trust it, make sure to stay with us until the end of this STForex review.

Broker status:	Unregulated Broker
Regulated by:	No regulations
Operating Status:	Active FX and CFD Trading Scam
Known Websites:	https://STForex.com
Blacklisted by:	N/A
Owner:	STForex Ltd
Headquarters Country:	Saint Vincent and the Grenadines
Foundation Year:	2014
Online Trading Platforms:	Web-based
Mobile Trading:	Not available
Minimum Deposit:	$200
Deposit Bonus:	Available
CFD Trading Option:	Yes, you can trade CFDs
Crypto Asset Trading:	Yes – BTC, ETH, XRM
Available Trading Instruments:	Forex, stocks, cryptos, commodities, indices
Maximum Leverage:	1:1000
Islamic Account:	Not available
Free Demo Account:	Available
Accepts US clients:	US clients are accepted
Global Fraud Protection Experts’ Verdict:	With activities dating back to 2014, it’s surprising the company still operates without any regulatory oversight. Even though they claim to have more than 400.000 clients, none of them reveal their experience with this broker. Therefore, be cautious and don’t hesitate to reach us for refund assistance if you experience problems.

Is STForex Legit or a Scam?

One of the most surprising details about this firm is the absence of STForex reviews. Therefore, traders don’t have much clue if the company is reliable. Yet, one thing can be easily discovered: the company is not regulated. As can be seen, this firm is registered in Saint Vincent and the Grenadines as STForex Ltd.

It should be noted that the Financial Services Authority (SVG) is no longer issuing trading licenses. Therefore, this firm should obtain a permit in its operating countries. For maximum reliability, you can also choose FCA, BaFin, ASIC, or similar regulatory oversight. Sadly, this company doesn’t have any licenses, especially those that are trusted.

How Does STForex Work?

Overall, offshore firms without licenses have only one goal: to extort as much money as possible from users. When you compare STForex account types, you can quickly realize how this will happen. They offer a wide range of benefits, such as cashback, access to more assets, and so on, to make you deposit more money.

Thus, when you reach your goal and decide to withdraw it, you will realize it was all fictive, starting with your balance. In those situations, we highly recommend professional assistance in the recovery process. For more details, get in touch with our refund specialists.

Who Are STForex Victims?

Even though the website is primarily designed in Russian, it appears the company doesn’t mainly target them. Instead, the website traffic leads to countries that are found on the company’s restricted list, starting with:

• United States
• Canada
• Thailand

Knowing that you can easily get scammed on every corner, we advise you to check our Llds Group review. Don’t be surprised if they get hold of your number somehow. In any case, if you deposit money with any of these firms and can’t get it out, get in touch for alternative options.

What Are Trading Platforms Available?

In general, when a company offers reliable trading software, it advertises it proudly. Since this company doesn’t mention anything about its technology, it’s most likely a poor one. Something like a proprietary web-based platform with limited features and zero reliability.

All in all, if you are expecting some advanced features like copy trading, EAs, or similar, forget them here.

Is the STForex Mobile Trading App Available?

Another reason that can keep you away from this firm, besides the STForex minimum deposit requirement, is a lack of trusted mobile apps. Consequently, checking the balance, managing funds, and managing your trades have to be done via the browser. It’s not the preferred option for most traders.

What Financial Instruments Does The Platform Include?

Looking for specific trading instruments can easily end up bad. Luckily, many brokerages nowadays offer pretty much the same. Therefore, once you complete the STForex login process, you can expect assets like:

• Forex pairs – USD/NZD, AUD/HKD
• Commodities – gold, platinum
• Shares – IBM, AMD
• Indices – ASX200, CAC40
• Cryptos – TRX, DOT

Account Types Offered by STForex

The company also offers different service packages among the regular trading account types. These include certain benefits depending on the amount you deposited. Some of the notable benefits are:

• Welcome bonuses in the loyalty program
• Cashback on spreads
• More tradeable assets
• Trading courses

Generally, the deposit requirement ranges between $200 and $20,000. But are those features truly worth the money? Most likely not. Anyway, when it comes to trading conditions preferred, you may opt between:

• Classic
• Pro
• Cent

Can a Trader Use an STForex Demo Account?

If you are planning on testing the STForex app, you’ll still have to put in $200 if you want a Cent account. Luckily, a demo account is an available option with this firm. But is it just a trick to extend contact details? Most likely, yes.

STForex Fees, Spreads, Leverage and Commission

A sign the company doesn’t operate according to any top-tier regulation is its leverage of 1:1000. Most regulators allow nothing more than 1:50. For a reason, though.

If you opt for a fixed spread, you can expect hefty ones from 2 points. On the other hand, floating spreads start from 0.3 points, but there’s no guarantee of anything that low. The most controversial detail is an extremely expensive commission of $10 per lot. At least you have the option to pick a less expensive broker, if not safer.

Is the STForex Welcome Bonus Available?

One thing that can easily impact your STForex withdrawal is the company’s welcome bonus. Indeed, they offer bonuses, but in the form of loyalty points. Thus, how these are used and whether you can withdraw anything remains a mystery.

Is STForex Withdrawal Possible?

Fairly, withdrawals are the only way to prove that STForex is legit. With transparent commissions of up to 5% and a fixed fee of $85 for wire transfers, you at least know how much it costs. Most of the options include instant transfers, and that’s another good sign.

However, the wrong side of it is that without regulations, they don’t have to comply with any of those rules. So, you can expect various issues along the way.

What Should I Do If I Have an STForex Problem?

Trading with offshore unregulated firms is problematic in most aspects. Therefore, we always advise users to trade with legitimate and top-tier licensed companies. If you get misled by a fancy ad or phone salesman to get started with the wrong broker, don’t bother.

There are refund options available that could get you back on the right track. While you leave your comment about your experience below, don’t forget to book a free consultation with our chargeback team.