Customer Reviews of BestStocks Company
For many novice traders, trading in financial markets becomes a challenging task due to lack of experience. The key in this matter is to find a reliable partner who will help make successful deals. However, according to reviews, BestStocks company uses this to their advantage. Their methods deliberately deceive newcomers, providing them with no real benefit. Our material will tell you how they attract them, and why you should be extremely cautious about this company.
What is BestStocks Service?
BestStocks website is presented exclusively in Russian, targeting traders from Russia and other post-Soviet countries. Overloaded with information, it can confuse users. Former clients’ reviews indicate that this is done to create the appearance of project seriousness, nothing more.
Interestingly, the website lacks a contacts section, and the contact form and links to social networks are only presented in the footer. Checking revealed that the provided email address is inactive, and accounts on various social networks are used only for self-promotion.
The domain was registered in the summer of 2020, and its validity expires on July 30, 2022. This raises questions about the project’s future, considering its already poor reputation.
Myths and Facts about the Company
According to a consulting company, BestStocks was created with the participation of Prytek and the St. Petersburg Stock Exchange in 2020. Numerous investor reviews confirm that users have been losing money in this system for several years. The company claims that since 2012, it has been evaluating the profitability of analytical ideas and tracking forecasts from over 7,700 specialists. For a fee, it promises to share this information.
Officially, JSC BestStocks is registered in Russia at 38 Dolgorukovskaya Street (Moscow). However, its activities are not related to consulting or the financial sector but are focused on software development. The company also mentions advertising in its activities, which likely explains the presence of broker ads on the website.
The named head of the company, Artem Klimov, is also the director of LLC Prosto, specializing in information technologies. The charter capital of this LLC is only 10 thousand rubles.
What Does the Company Offer on Its Service?
BestStocks claims to provide investors with maximum information to make the right decisions:
- stock selections (trending, recommended by analysts, with high ratings and by industries),
- insider trading,
- investment education,
- broker ratings,
- financial instrument comparisons,
- analysts’ forecasts, etc.
To use the service, registration is required, and one of the tariff plans must be selected:
- Basic – free. Traders receive information on stocks, consensus, Smart Score, market sentiments, and can upload their portfolio.
- Premium – for 9,990 rubles per year (about 833 rubles per month). Additionally, analysts’ forecasts, investment ideas, recommendations, signals, portfolio review, and analysis are provided. This tariff can be tested for free for 14 days.
- Ultima – subscription cost 27,990 rubles. For this amount, clients get unlimited access to all company services and priority support.
Customer Reviews
BestStocks actively advertises itself and uses fake reviews that are characterized by template and uniformity. On various resources, real customer reviews can be found, complaining about deception and loss of funds. We do not recommend dealing with this company.
Fraud Scheme
BestStocks does not have a license from the Central Bank of Russia. It is a company that only takes money for a subscription to its services. Traders purchase a subscription but ultimately receive nothing or end up with a fraudulent broker advertised on the website, losing their entire amount.
Scammers offer a free 14-day trial of the Premium subscription but fail to mention that it automatically renews. Users start losing money as the subscription is automatically debited from their cards until they cancel it.
Final Conclusion
BestStocks is an unreliable consulting company that uses deceptive methods to obtain money from users. It does not take responsibility for its recommendations. We recommend avoiding connections with this company and not risking your funds.
BestStocks provides a decent platform for trading with a variety of stocks to choose from, however, there is room for improvement in their customer support services.