Introduction to StockSons Review:
Are you also inclined towards investing in the trade industry? The financial industry is a great way of earning a passive income as it allows the customers to trade with the comfort of their houses and tradable instruments of their choice. However, as inevitable it was, the financial market too was infiltrated by scammers in huge amounts, hell-bent on scamming innocent customers and stealing all of their hard-earned money. If you have clicked on this page, it can probably mean two things. Either you have been scammed or you are looking forward to avoiding one by researching the brokerage firms. Well, whoever you are, you are just at the right place. In this review, we will not only provide you with detailed reasons as to why we think StockSons is a potential threat. If you are a victim of a brutal scam, stay tuned till the end, we have a solution for you as well.
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Address:
While investigating StockSons, we checked their whole website to look for any kind of leads that will take us to the truth. Upon checking their website, we found out that the company claims to be based out of Luxembourg. StockSons also claims to have a license from the regulatory body of Luxembourg.
About the Company:
StockSons claims to be a world-famous CFD brokerage firm that has customers from all around the world. With a wide variety of tradable instruments such as stocks, foreign exchange, future, etc, StockSons purports to be everyone’s favorite. The number of red flags that StockSons poses will shock you. Read on to know more about the StockSons in this StockSons review.
Breaking down the claims:
Do StockSons have a license?
On their website, StockSons claims to have regulation from the regulation of Luxembourg. The regulation is one of the vital aspects that one must look out for while researching a brokerage firm to trade-in. In order to maintain legitimacy in the market, the government authorities set up regulations that look over the brokerage firms of their jurisdictions. Therefore, it is necessary for the traders to look for a license before investing their hard-earned money. A license ensures the security of your money as it enables the regulation to supervise every move of the brokerage firms that come under them.
Upon checking with the regulation of Luxembourg, we were unable to find any company under the name of StockSons. Therefore, StockSons is UNREGULATED. This poses the first red flag against the StockSons scam in this StockSons review.
You must always trade with brokerage firms that are regulated by top-tier regulators such as the Financial Conduct Authority or the FCA of the UK, the Australian Securities and Investment Commission or the ASIC of Australia, the AMF of France, etc.
Has StockSons been blacklisted/ warned?
Yes, StockSons has been blacklisted and warned by various regulations as stated below.
To begin with, the regulation of Luxembourg has blacklisted StockSons for impersonating and attempting fraud in the name of another legitimate company. Being blacklisted by one of the regulations of the European countries indicates that the company is not fit to trade with. This poses yet another red flag against StockSons scam.
What are the trading accounts offered by StockSons?
StockSons offers three different types of trading accounts to their customers on the basis of the currencies. These are called the USD Account, EUR Account, and GBP Account. The three accounts have varying minimum deposits and different monthly profits as provided by the company. The USD Account vouches for a monthly profit of 51%. The EUR Account vouches for a monthly profit of 70% whereas the GBP Account claims a monthly profit of just 3%. Even though they have provided the customers these numbers, there is no information as to what research or survey led to these numbers thereby destroying their legitimacy. This poses yet another red flag against the StockSons scam in this StockSons review.
What are the minimum deposits demanded by the StockSons?
The minimum deposits are usually demanded in very low amounts by the legitimate brokers to ensure that they are following the rules put forward by the regulations. Contradicting this tradition, the scam brokers usually demand very high minimum deposits to steal as much money as they can from these unsuspecting traders. StockSons demands a minimum deposit of $50 from the USD Account holders whereas it is $500 for the EUR Account holders. The highest is for the GBP Account holders at $3000. All the deposits are much higher than what is demanded by the legitimate brokers thereby posing yet another red flag against the StockSons scam in this StockSons review.
What is the web platform used by StockSons?
The working of StockSons is rather confusing. At first, the company did not offer a demo account to their customers. A demo account is considered essential as it helps the new account holders and the customers who are new to trading to understand the basics and the working of the company. This poses the first red flag in this segment. Secondly, even when we tried to open an account to trade, the platform was showing errors and simply not letting us trade the money we deposited. From this, it is clear that StockSons only cares about people depositing the money and has no motive of actually being a legit brokerage firm.
Conclusion: Is StockSons scam real?
To sum up all the above-drawn points, we leave the liberty of deciding whether StockSons is a scam or not, to you. Whatever your choice is, we request you to stay extra cautious if trading with StockSons. StockSons shows all the signs of a scam and is a potential threat in the financial market.
How can we help?
If you have been scammed by StockSons or any other scam brokers, Don’t worry. These scammers prey on hundreds of innocent people every day. File a complaint with us and let us help you out. Upon receiving the complaint, our team will analyze it and get in touch with you as soon as possible.
To read our latest reviews on scam brokers, click on Trade24.
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