An excellent presentation was made by the fraudster STB Markets. The broker’s website has a professional appearance, and their trading platform was excellent. Additionally, STB Markets seems to provide fair terms. But there were a lot of things about this broker that we didn’t like. This unknown, unlicensed business attempts to get customers to accept some dreadful terms. Investing with STB Markets will probably result in fraud.
Is STB Markets a Licensed Broker?
Despite claiming to be situated in the UK, STB Markets does not seem to be subject to FCA regulation. We looked up nothing in the regulator’s database. Additionally, the broker provides incentives and leverage of 1:100, both of which are against UK legislation.
By selecting this broker, you will be selecting an unauthorized business, which may have no positive effects. These brokers are not overseen by anybody and were not subject to any restrictions prior to beginning to provide services.
Why Should Not You Trust an Unlicensed Broker?
Anyone who transacts with unregulated brokers, such as the one we are examining right now, is taking a significant financial risk. These companies provide online trading services without any kind of license or oversight from the government, making them not only unreliable but also dangerous because they cannot be held accountable for their actions. The majority of these businesses are nothing more than con artists who only want to con their customers out of their money.
Warnings From Financial Regulators
Though FCA, ASIC, CONSOB, and CNMV are not published any warning against this company, it is true that this company is not registered with any of these authorities. This company does not hold any kind of Tier 1 license from this authority.
Leverage and conditions
The firm violates ESMA regulations by offering a spread of 1:100 for FX majors. Leverage must be kept to 1:30 for all businesses operating in the EU and the UK that provide financial services.
Minimum Deposit and Withdrawal Terms of STB Markets
Customers can open a basic account for the broker’s services for as little as $250, which is a respectable starting balance. There are, however, much better brokers out there that provide Micro accounts for $100 or less.
Platform Offered by STB Markets
STB Markets has a respectable web-based trading platform available. This program was quite functional and user-friendly. Along with extra features like an economic calendar, market news, and a profit calculator, it included some solid charting and analytical capabilities. But it didn’t seem that automated trading or duplicate trading was feasible.
A nice trading platform is not a solid justification for picking a shady broker. The majority of reputable brokerages provide robust, user-friendly trading systems.
Victim of STB Markets Scam? Report Your Story to Us.
Don’t hesitate to report STB Markets if you believe they have defrauded you. We will assess the situation, provide you with a free consultation, and help you with the money recovery procedure.
If you have lost money to companies like BBINExchange, Joywealth, or FXLiveCapital, please report it today by bellow form.
Ways to Make a Deposit
As it turned out, Bitcoin was the only available deposit method. Such payments are both anonymous and irrevocable, which disturbs us. If you have already deposited, you cannot request a chargeback on your payment.
Country Serving by STB Markets
This company is serving in France, Canada, the UK, Australia, and Belgium.
What Do Traders Think Of STB Markets?
After researching social media (Facebook, Twitter, Instagram) and online trading forums, STB Markets consumers were generally unsatisfied. Based on this customer feedback, STB Markets looks to be a shady broker, so invest with care.
Final thoughts
We hope our review on STB Markets will help you to be safe from the scam. If you find any scam incident, please report it to us.
FAQ:
Are STB Markets trusted?
No, STB Markets cannot be trusted. They are unlicensed and unregulated. They don’t have any regulations to report or they cannot provide any clients’ funds.
What is the problem with an unregulated broker?
Most such companies are fraudsters that defraud customers. Even if a firm is not a hoax, it cannot be trusted since it might fail due to mismanagement, causing consumers to lose their whole investment.
Is it possible to recover my scammed money?
Yes, there are several firms like Report Scammed Bitcoin that can help you to recover your money. You have to report on their website and they will contact you.
Can MT4 trades be faked?
No, MT4 trades cannot be faked.
How do I know if a forex broker is real?
Check their regulation or license on the country’s financial regulatory website. Also, check different online forums to see their clients’ reviews.
