CFDStocks Review Scam Complaint
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CFDStocks is an unregulated broker that offers trade in Binary and claims to be based in the UK. Apparently,many major markets including Europe has banned the sale of binary options so the need of the license to provide services becomes quite important. CFDStocks in addition of being unregulated has some other major problems as well, the website of the broker rums anonymously without telling the name of the company. The address of UK that the broker has provided is not found in reality. The below given review will reveal all the things about the broker in detail.
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About the CFDStocks:
CFDStocks claims to be based in the UK but the reality is it is an offshore brokerage company which is possibly registered in Marsha Islands the territory known for registering scam brokers as one can register a firm right on the internet, without ever setting a foot out. CFDStocks withdrawal conditions are unusual which say you can not withdraw your own funds for at least a month after you have made the deposit with the broker, and that you have to meet some minimum trade volume requirement in order to be allowed to withdraw your money. No legit broker will ever put conditions like this restricting your right to withdraw your own money. And here CFDStocks does not even disclose what are those minimum trade volume requirement.
The broker CFDStocks will not give anything but charge you for everything, $35 is charged for any withdrawal request, which is not a fair practice. Moreover, the broker takes 7 to 10 days processing time which is very unusual as legit brokers process the request of withdrawal within 24 hours. Being a trader one should know that trading bonuses never come with only benefits, there are always some conditions attached which you can say some minimum trade volume requirement. The broker CFDStocks requires minimum trade volume of 30 times of the bonus plus client’s deposits and unless one fulfill this requirement he will not be allowed to withdraw any of his funds.
Is CFDStocks legit or scam?
CFDStocks is a clear scam broker, as you can see above the broker has all the unfair conditions for trading with a motive to get more and more money from the trader. The broker claims to be based in the UK but has no license from FCA to provide its services that means it is working illegally.