How to check the reliability of the TradingStock company?
Under the guise of an honest online trading firm, scammers deceive clients. To determine their credibility, it is important to review legal documents, study the terms of cooperation, and read the opinions of real users. Today we will discuss the organization TradingStock, which presents itself as a leading international trader in financial markets. There are no reviews about this company, therefore, before registering and transferring funds, it is necessary to carefully study who they are.
Main facts about TradingStock
TradingStock, according to the legend, has been involved in brokerage services for 4 years and has taken leading positions in online trading during this time. The company provides the following data:
- 370,000 open accounts,
- 4.5 million trading operations daily,
- 150+ financial instruments, and
- daily trading turnover of 85 million dollars.
There are no reviews confirming the honesty and financial stability of TradingStock. However, according to the whois data, the website is indeed old. It was not created in 2018, as the broker claims, but back in 2009.
This contradicts the idea of the company’s 4 years of experience. However, the web archive did not save information about this website. Pay attention to the date of the last update of the resource – June 2021. It is likely that it was during this time that the authors acquired the TradingStock project.
Details of the firm’s legal activities
Regarding the legal documents of TradingStock, the situation is sad. Despite claims of registration in Cyprus, the site presents copies of documents from Saint Vincent and the Grenadines.
It is strange that the broker lists the address: Lazla Haven Thompsonfurt IP19 0NS. These details found on Google Maps only partially coincide. This address is not in Cyprus but in the United Kingdom.
TradingStock also misinforms about the presence of a license. The provided details turned out to be fake.
The Cyprus Securities and Exchange Commission did not issue document #207/76 to the broker.
Also, document #16/74/10/02 was not found in the International Financial Services Commission database.
A similar situation is observed with the Financial Services Commission of Mauritius (document #F859482765 also turned out to be fake).
Scammers from TradingStock actively attract traders from Russia (as evidenced by the presence of a Russian interface). Despite the lack of reviews online, the situation may change. The company violates local legislation as it is not listed among the licensed brokers of the Central Bank of Russia.
Trading opportunities with TradingStock
TradingStock promises a lot but does not specify trading opportunities. There is no demo account, so an initial deposit will be required to start trading.
There are 3 types of trading accounts available:
- “Standard”. Minimum deposit – $1,000. Scammers usually do not prolong their existence; therefore, they try to earn on others’ funds immediately. The contract terms are limited: instant execution of orders, leverage up to 100X,
- “Gold”. Description is limited. The minimum deposit is $10,000. The difference from the previous account is access to cryptocurrency trading and deposit protection. Leverage is up to 500X. For traders, this offer can lead to a debt trap,
- “Platinum”. Initial deposit – $25,000. The difference from the previous tariff is 24/7 support and deposit protection.
The user agreement contains unjustified terms. The company may deduct funds from the client’s account or lose funds from their account due to force majeure circumstances. According to forum reviews, fraudulent companies often resort to such measures.
Reviews about TradingStock
As of now, there are no reviews about TradingStock. This plays into the hands of scammers who easily deceive potential clients. If you have had experience with this broker, please leave a review and share your opinion.
Scams in TradingStock
To promote their offer, scammers have launched an affiliate program. Generous rewards are offered for attracting newcomers. The minimum losses in the project amount to $1,000, but this shady business is likely not limited to that. They will try to extract all the money from the client’s pocket. When the trader stops depositing funds, their account will simply be blocked.
Expert review of TradingStock
The brokerage firm TradingStock will not only prevent you from earning but will not return the initial deposit. This platform lacks legal rights for trading; it operates illegally and is not afraid to lose its license. The best solution is to stay away from it.
My experience with TradingStock has been extremely disappointing. Their analysis of trading opportunities often seemed misguided and inaccurate, leading to significant losses on my end. The legal framework is also convoluted and difficult to understand, which made me feel as if I was walking on eggshells when making trades. The customer service was less than helpful when I approached them with these issues. They merely regurgitated scripted responses and failed to address my concerns meaningfully. There was a lack of real support and advice tailored to my trading style and goals. I strongly suggest looking elsewhere for a more reliable and user-friendly trading platform.
I am extremely dissatisfied with the broker’s work as the trading opportunities presented lack depth, the analysis is superficial, and the understanding of the legal framework is inadequate.
TradingStock presented itself as a credible broker, but my experience has been disappointing and disheartening. The customer service was subpar at best and non-responsive at worst. Their execution of trades was slow and problematic, which resulted in frequent losses for me. Despite advertising a range of trading opportunities, their actual offerings were limited and often lacked depth. The interface of their platform was confusing and not user-friendly. Moreover, the legal framework they work under seemed murky and not entirely transparent. This gave me doubts about their legitimacy and reliability. Overall, my experience was far off the mark and I wouldn’t recommend TradingStock as a trustworthy broker.