Young crypto broker with a questionable reputation: review and feedback on STForex

• Categories: Forex

STForex.by: an innovative company from Belarus

STForex.by — a new chronicle company, headquartered in Belarus. Its reputation has undergone serious tests. Let’s find out what achievements have led to its questionable notoriety.

Features of online trading

A trader cannot start working on the forex market independently without the help of a broker. Finding a reliable company is difficult, especially for beginners. In modern times, there are too many scammers, and it will take time to identify them.

Company’s origin

STForex is a platform for trading cryptocurrencies, which started its activities in the global currency market in 2014. It is registered in the independent state of Saint Vincent and the Grenadines. Many fraudulent companies specifically point to this place of registration (for example, MaxiMarkets, EQMarkets).

Types of accounts

Experts have developed three types of accounts for clients to trade with:

• The Cent account is designed for beginners unfamiliar with the specifics of trading digital currencies,
• The Classic account is suitable for experienced traders with any capital,
• The Pro account promises favorable conditions and fast order execution.

Assessment of the official website

Studying the homepage, you can find a warning about the risks of trading on the Forex market. Visually, the site looks sparse and does not contain enough company information. This strategy is intentional: after a bad experience, clients will not be able to seek justice.

Key figures of STForex.by

Organizations, regardless of their direction, strive to attract more clients. Inviting well-known personalities is an excellent strategy in this regard. For example, Russian TV host Dmitry Dibrov. He was paid to participate in a promotional video. After the collaboration, his photo and video were featured on the homepage.

Licensing issues

STForex.by claims to have a license from the National Bank of Belarus, allowing them to provide services in the forex market. However, it is necessary to independently verify this information. It turned out that the license was issued to another company, alfafinancial.by, not to STForex.by, which could indicate the illegality of their operations.

Deception with the client agreement

The importance of the client agreement is significant, but in the case of STForex.by, content copied from another company has been discovered. This could indicate fraudulent activity. The addresses of the two companies match, indicating a possible transfer of text from one scammer to another.

Company’s history of fraud

STForex.by uses proven deception schemes in its practice. The real story of the company’s victimization has become record-breaking. The company recruited a woman, trained her in trading, increased her capital, and then avoided making payments.

How to avoid fraud

A serious approach to choosing a reliable company for trading in financial markets is extremely important. It is necessary to develop and be prepared to meet scammers. Even if they seem distant, they can be waiting for you anywhere. The main thing is to always remain vigilant and not overlook detailed research.