How to choose a broker for investment and not to be trapped with scams? First of all, any trader should sort through all even insignificant facts relating to the broker he wants to trade with. Unless you think that you are too smart to be scammed, this means that you may not give meaning to all little things. Unfortunately, sometimes trading brokers do too twisted deals. They are dangerously cunning because there is a great deal of money in this field and this attracts fraudsters.
Let’s review one of the famous binary options broker CFDstoks.
What’s on The Surface?
Their official website is www.cfdstocks.com. The broker was founded in 2016. It offers quite popular SpotOption trading platform as any other binary options broker. Traders can use such options as the 60 or 90 seconds, 2, 3 or 5 minutes options and trade 81 financial assets, namely, options on Oil, Gold and Platinum, Forex Options and others. Minimum deposit for newcomers is $250 that is quite high, especially for those who are just starting to invest. The broker doesn’t have a demo account, so the trader can just try. But they have very questionable bonuses and an enormous quantity of complaints.
When researching a new binary options broker it’s essential to check whether it has a license and regulation. There are serious authorities to regulate such trading broker as CFTC in the United States, FCA in the United Kingdom and FSB in South Africa. These regulation authorities give you a guarantee that your investments are secure and a broker you trading with is reliable. Almost all companies offering any financial services have to be authorised by them and purchase a license for implementation of activities.
So Do They Have One?
Pacific Sunrise LTD is a company that owns CFDstoks, with its registered address in London, and it doesn’t register in any of these serious regulation authorities. They have registration only in Saint Vincent and the Grenadines, meaning that it’s an offshore. They don’t have any license. If they disappear with your money, nobody can help you because the countries that provide the opportunity to register offshore undertake do not public any information concerning their financial clients.
Do a little digging and found a whole lot more. There are warning messages that people shouldn’t trade with them on the official websites of FCA, ASIC, FSMA, FMA, FI and others. CFD stocks provides financial services without any authorisation. The above leaves no doubt that if you don’t want to lose your money, better to avoid this broker and any other unlicensed broker at all.
What can we say to conclude?
We also warn the public against the activities of Pacific Sunrise Ltd and recommend you not to invest funds there. They may trick you and you get nothing. All information we have shows us that CFDstoks broker is a scam. Find another, more reliable and secure trading broker, and don’t be afraid for your money.