Is CFD Stocks a scam broker?
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CFD Stocks is owned and operated by Pacfic Sunrise UK Ltd., are a binary option and forex broker located in London UK. It was founded in 2016.
CFD Stocks are not regulated broker through any appropriate financial regulatory authorities like Britain’s FCA, America’s CFTC, Australia’s ASIC, Cyprus’s CySEC, Canada’s IIROC, or Italy’s CONSOB. It is seen that many of companies which are unregulated commit online scam.
While trading with an unregulated companies there is no guarantee whatsoever if one can withdraw his money from the trading account or not. It does not matter whether you win or lose trade. Companies regulated by reputed financial regulators have to follow stringent rules and cannot just vanish with your money.
Previously CFD Stocks were using SpotOption trading software but recently they switched to different one. It is web-based hence no need to download anything. The trading on the new platform is easy to understand and has clear explanations for your expectation. They have diversified product range and have the user-friendly software. There is an option for safe trading and there is a clearly slated risk/profit ratio.
They cover every aspect of binary options trading. Their collaborators consist of experts in derivatives, professional forex brokers, risk managers, and payment processors.
Client’s fund is held in segregated accounts.
CFD Stocks is a scam broker and let us see how they work. For opening new accounts trader has to deposit GBP 250 to start with. The return claimed is upto 85 percent returns. Traders can use options of 60 and 90 seconds and also 2, 3, and 5 minutes for the higher probability of trading each day.
To attract better and positive trades they are made to invest more money. They are also lured to get new traders through their affiliate programs. Traders are attracted by guaranteed “risk-free” trading bonus.
It is very astonishing that a company is operating since 2016 without license and regulation and no financial authority has ever taken note of this fact. Even now they are advertising online and doing business as usual, and no one to stop them. The site shows a lot of attracting offers and a huge possible income to lure new traders. CFD Stocks does not have any insurance for the deposits made on their trading platform.
They are hiding and giving misguiding information to their own traders, on-site they claim they are headquartered in the UK but in their T&C the location of business shows St. Vincent.
Many traders and investors have given negative reviews on different sites. Traders are unable to withdraw funds for which they have worked so hard. The company is not giving traders what they rightfully deserve. The request for withdrawing funds has been denied under one pretext or the other.
The rate at which the number of investors and traders are being lured and later scammed is indeed alarming. Even if the trader denies bonus they add the bonus to the account purposefully. When anybody inquires regarding it, they just say that your manager has been sacked and cannot verify the agreement (about denial of bonus).CFD Stocks is a scam broker and if you have been scammed by them or any other broker you can contact MyChargeBack to get your money refunded.