Streamforex – review of a forex broker and feedback on deposit drainage.
Under the Veil of Deception: Address and Truth About the Company
Self-proclaimed, promising instant help to clients, Streamforex actively promotes itself as an advanced operator.
The company claims to have been operating in the market since 2012. But in reality, it has only been 5 years in the exchange. Indeed, is it too risky with the numbers?
The company’s main motto is “Highest quality, relevance, and direct communication with clients.” But is everything so straightforward?
Dubious Registered Address:
Such addresses often serve as a mysterious facade to hide the true location.
The address Suite 305, Griffith Corporate Centre, Beachmont, Kingstown Saint Vincent and the Grenadine, P.O. Box 1510 — is real, exposing deception or scammers. The evidence speaks for itself.
Reviews from Deceived Individuals:
First Voice:
“This place is a fake. It is not advisable to invest any money in Streamforex. My friend transferred $7,600, but when problems arose, no one answered the calls. Payment for refund ready to send is 10%.”
According to our investigation, the following fraudulent forex brokers also operate under this address:
- FreshForex,
- PrivateFX,
- TradeGF,
- World Forex,
- Lucrotrade.
The list is endless of all the scammers masquerading under this address to cover their illegal antics.
Examining Streamforex’s Client Contract
We have reviewed the company’s demands and selected the most horrendous terms of the client contract.
Clause 4.15
What’s Happening Here:
Streamforex may manipulate client orders at its discretion. Your order may be cancelled or the opening/closing price changed without notice.
Clause 9.8
What’s Happening Here:
Forex broker Streamforex reserves the right to accuse you of money laundering without any evidence. This could result in your account being frozen or cancelled, and all assets transferred to the company.
Clause 11.5
What’s Happening Here:
This clause allows them to terminate your contract, claiming you have caused “damage.” Since this is not regulated by any authority, any perceived damage can become a reason. They have the right to demand additional funds from you if they consider your account inadequately funded.
Clause 12.4
What’s Happening Here:
If a “force majeure” event occurs (including technical problems on the company’s side), Streamforex can postpone your registry. These actions are taken to label you as a scammer and seize your funds.
Clause 13.6
What’s Happening Here:
Streamforex can unilaterally terminate the agreement with you. Consequently, you cease to be a client of the company and cannot make any claims in the future.
Online Reviews about Streamforex
We came across astonishing reviews from users and former clients of Streamforex.
Review from a former client named “Mirovoy”:
“Invested some pennies into three bitcoins. Thought it necessary to partially mitigate risks. It seemed that if one account was drained, profits would come from others. But cooperation with Streamforex went differently! A week passed, and all three accounts went into the abyss. I was in shock and, of course, realized that this didn’t happen without a catch. I don’t recommend, sincerely urge you not to swim in the streams of Streamforex!”.
Another comment from a Streamforex client:
“I want to share my unpleasant experience of working with StreamForex only because a bunch of people have no idea that it’s a pyramid scheme and it’s collapsing! Everything was fine on my end until I decided to withdraw all my coins. Earlier, I thought they (the broker, a cautious stroke of luck!) were genuinely decent! It has been 20 days since the withdrawal request was submitted, and there is still no money! Support does not respond to emails or calls!”.
The authenticity of the comments is available for verification (here).
Final Decision on Collaborating with Forex Broker Streamforex
Main Pros of Streamforex Broker:
- Educational portal available,
- Diverse account types and special offers.
Main Cons of Streamforex Broker:
- Misleading information about location,
- Overwhelming clients with deliberately exaggerated actions,
- Deceptive client contract,
- No licenses or certificates,
- Unsavory reputation online,
- Issues with fund withdrawal.
After analyzing all the pros and cons, Streamforex can easily be classified as a black sheep in the forex field! We do not recommend availing their services. The scammers from Streamforex have rightfully earned a bad reputation.
Multiple acts of deceit and a desire to evade responsibility are the true principles of their operation. If you decide to invest your hard-earned money in such a woeful organization, they will by no means return it to you!