Stockscm Review: Is stockscm.com Forex Broker Scam? - Topedgefx.com

Stockscm Review: Is stockscm.com Forex Broker Scam?

Welcome to Stockscm review. Stock SCM is a broker offering a “platform that thinks like a trader”.

Stockscm feels that their platform is “customize-able and intuitive” such that they align with the needs of a trader.

In addition to this, the broker promises to provide lightning fast trading environment, security of funds and top-notch technology.

Stockscm also provides a wide range of financial asset classes for trading. These include stocks, indices, commodities, currencies and Crypto.

Stockscm marketing material does not disclose the name of the brand that runs it. In addition to this, they don’t disclose their location.

stockscm review broker

From their contact page, they purport to have offices in Australia and the United Kingdom.

Brokers who don’t reveal the identities of the people who run them don’t inspire any trust and so we hope Stockscm will include this information in their marketing materials.

Furthermore, we’d like to know whether or not they’re regulated and the first thing to do is to check the name of the company.

In the meantime, traders wanting to make money using Forex trading should take advantage of these recommended tools. 

We assume that you’ve already found a good Forex broker with tight spreads. If not, we implore you to pick one from our homepage. 

Stockscm review

Like every other Forex broker trying to gain an edge in the financial markets, Stockscm offers various trading accounts.

These are tailored to suit the needs of various clients because all of us cannot trade the same way.

So far, Stockscm offers 4 different account types. These include:

Silver

  • Minimum deposit: €250
  • Over 200 tradeable assets √
  • Dedicated account manager ×
  • Bonus fund: ×
  • Lucrative spreads: ×
  • Significant leverage: up to 1:100
  • Trading signals: ×
  • Trading room analysis: ×
  • Financial planning: ×
  • Risk management: ×
  • Webinars: ×
  • Prioritized withdrawals: ×

Gold

Minimum deposit: €10,000

  • Over 200 tradeable assets √
  • Dedicated account manager √
  • Bonus fund: √
  • Lucrative spreads: Gold spreads
  • Significant leverage: up to 1:200
  • Trading signals: ×
  • Trading room analysis: Tier 3
  • Financial planning: √
  • Risk management: √
  • Webinars: monthly
  • Prioritized withdrawals: level 3

Platinum

Minimum deposit: €50,000

  • Over 200 tradeable assets √
  • Dedicated account manager √
  • Bonus fund: √
  • Lucrative spreads: Platinum spreads
  • Significant leverage: up to 1:300
  • Trading signals: √
  • Trading room analysis: Tier 2
  • Financial planning: √
  • Risk management: √
  • Webinars: weekly
  • Prioritized withdrawals: level 2

VIP

Invitation only

  • Over 200 tradeable assets √
  • Dedicated account manager √
  • Bonus fund: √
  • Lucrative spreads: VIP spreads
  • Significant leverage: up to 1:300
  • Trading signals: √
  • Trading room analysis: Complete access
  • Financial planning: √
  • Risk management: √
  • Webinars: complete access
  • Prioritized withdrawals: level 1

Stockscm review: concerns

Stockscm does not tell us what they mean by tier 2 and tier 3. This relates to their trading room analysis feature.

While the VIP account types states very well that traders will have full time access, the other account types are not specifying up to what level of access traders can get.

In addition to this, information about spreads is not provided. The broker uses vague statements such as “gold spreads”, “premium spreads” etc.

A professional broker needs to to publish live spreads on their website rather than using vague statements to describe their trading conditions.

At the moment, we’re not even sure what spreads a currency pair like EURUSD would attract.

While Stockscm continues to skip this critical information, they insist in their marketing materials that Stock scm is providing tight spreads and fast execution.

We need to see it on their website instead of relying on vague statements.

While this broker’s website looks professional, we still have serious issues and concerns regarding how they operate.

We’ll provide details below for you to know this broker before you can opt to invest or not to invest.

Stockscm neither provides MT4 nor MT5 trading platform

MT4 trading platform is currently the most popular trading software used by Forex brokers and traders across the globe.

Regardless of what the broker offers, if they don’t provide either of these two trading platforms, then competing with other brokers is something that will be an uphill task.

Furthermore, it has been found that most retail traders prefer MT4 or MT5 trading software due to their robust charting capabilities and the fact that they’re also compatible with the best automated Forex robots.

While this is the case, Stockscm is offering a strange trading platform.

We tested this trading platform and found that even though it’s intuitive, such in-house trading platforms can come with a host of setbacks which hurt retail traders more than the broker himself.

At the end of the day, retail traders like you and me don’t feel comfortable trading on a platform whose reliability and transparency is not known.

We just have to stick with what we know. What we don’t know here is whether Stockscm is an ECN/STP broker or a market maker.

By the way, this information has not been disclosed in the marketing material.

This broker is not regulated

Apart from hiding details of the brand that operates Stockscm, we also realized that the broker does not have a valid trading license from any financial watchdog.

They proclaim to have representatives or offices in the UK and Australia and if this is the case, they should be proudly displaying their FCA and ASIC licenses respectively.

By no means should you trade with an unregulated broker. The reason is that they’re often running their business with a separate agenda, which might not always be clear.

On the other hand, when you’re trading with professional and regulated brokers, you have the peace of mind that comes with knowing that your funds are safe and sound.

In case the company goes down, you can be compensated since your funds are always put in a segregated account.

If a broker is regulated, they won’t take any risk to lose their license. So they’ll treat you professionally.

Conclusion

Unfortunately, we won’t recommend Stockscm broker because they are unregulated and secondly, their trading conditions are not known.

Thirdly, they don’t disclose details of the brand that runs their website. We feel that this lack of transparency is their greatest undoing.

Thanks for reading this Stockscm broker review. We don’t feel confident enough in opening an account and funding it because it could be risky.

2 Comments

  1. John May 21, 2020
  2. julie foster August 25, 2020

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