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STForex

Good 5.75
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STForex Review

  • Great trading platform
  • Competitive trading fees
  • Low deposits
  • Lacking key information and depth
  • No choice of trading platforms
  • Limited tradeable assets

STForex is a professional online trading brokerage that provides reliable trading services to traders from around the world. The brokerage offers advanced technology and innovative approaches to forex and CFD trading on a narrow range of financial assets. STForex was only established in 2014 and has already grown tremendously by serving nearly 300,000 clients from around the world and the brokerage has 19 offices in 5 countries. STForex is owned and operated by StForex Ltd and is based out of St.Vincent and the Grenadines with their headquarters located at Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St.Vincent and the Grenadines.

The brokerage has yet to become licensed or regulated by notable regulatory authorities but have acquired membership from the Financial Commission (FinaCom). All in all, STForex appears to be a reliable and reputable online trading brokerage, but are they really and how do you know if they are the right trading brokerage for you? After all, choosing the right trading brokerage is a very important decision. Which is why we have conducted in-depth research into the STForex trading brokerage and displayed the results in our comprehensive review below.

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Trading Platform

STForex provides their traders with the most popular and sought after trading platform in the world, the Meta Trader 4 (MT4) trading platform. This platform is loaded with all the tools and features a trader needs to succeed and operates in an intuitive and seamless manner. The platform can be downloaded and installed on nearly all desktop computers and is available for iOS and Android mobile devices from the Apple App Store and the Google Play Store. The MT4 trading platform is great for both beginner and experienced traders as the platform interface can be customized to meet each individual traders needs and is designed in such a way that’s simple yet packed with features. For instance, traders have access to a complete charting package that comes with numerous built-in technical indicators with the option of adding more, various drawing and analysis tools, and all of the chart types and time frames a trader needs. As well, traders can facilitate automated algorithmic trading via the implementation of Expert Advisors (EAs). All in all, the MT4 trading platform provided by STForex will not disappoint as it is highly capable and accommodating.

Exchange Markets

STForex is a very simple trading brokerage in the sense that they only provide their traders with that ability to participate in the trading of forex, precious metals, and CFDs on a narrow range of financial assets. On the “Cent” and “Classic” accounts traders can only trade forex and precious metals. The extent of forex currency pairs is 40 currency pairs comprised of majors, minors and exotics. As for precious metals offered, only gold and silver are available to trade. “Pro” accounts have access to a larger variety of tradeable assets including the forex and precious metals of the other accounts plus a range of CFDs including CFDs on shares of both German, Russian and American companies, CFDs on indices, and CFDs on cryptocurrencies. All in all, the tradeable instruments offered are rather limited compared with much of the competition.

Fees and Commission

The fees and commissions charged to STForex traders depends on the type of trading account they choose. Cent and Classic accounts have fixed spreads from 2 pips and zero commissions on all traders. Pro accounts have fixed spreads from 0.3 pips and commissions $10.00 USD per lot on all currency pairs and CFD commissions are from 0.2%. Other fees traders will incur are withdrawal fees. Withdrawals via credit cards have a fee of 3% per transaction and withdrawals via QIWI have a fee of 3% per transaction as well. Other methods such as WebMoney, Perfect Money and Bank Transfer are free. As for deposits, all methods are free of charge. No other additional fees are stated on the STForex website.

Security and Fairness

STForex has been competently offering trading services since 2014 without any major complaints or security issues. The brokerage is not yet licensed or regulated and is located offshore which raises some concerns. However, they seem to be providing fair and secure services and are also a member of the Financial Commission (FinaCom), which is an international organization engaged in the resolution of disputes within the financial services industry. Client funds are protected and ensured up to $20,000 in the event of broker fraud.

Support

STForex has very limited customer support options available as clients can only contact support representatives via online chat and telephone with phone numbers from Russia, Belarus, Ukraine, Kazakhstan, and Afghanistan. The support hours are not listed anywhere on the site and there is no additional support information such as an FAQ page, education center, etc. Customers can however interact with representatives via the brokerages social media channels including Facebook, Twitter, YouTube, and VK. All in all, the customer support is very poor, and the overall presentation of the brokerage and their services is lacking depth.

Conclusion

Overall, the STForex broker appears to be a very basic online trading brokerage that lacks depth and professionality. The presentation of the broker and their services are very poor as the brokerage has very limited information regarding their trading services and the tradeable assets they provide. The trading platform offered by STForex is of premium quality, but everything else seems to be lacking depth. All in all, STForex could be a viable online trading brokerage but falls behind in the quality of many competing online trading brokers.

STForex Q&A

The following are the common questions that customers inquired about STForex.

Is STForex regulated?

No, but they are a member of the Financial Commission (FinaCom).

Is STForex a scam?

No, STForex is a legit broker with offices around the world and a large number of active traders.

Where is STForex based?

STForex is based offshore at Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St.Vincent and the Grenadines.

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STForex Screenshot
Details
STForex Reviews by Traders
Rate Broker and write a review
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SteveR
139 reviews
Review date 27/08/2018
1 2 3 4 5 6 7 8 9 10
STForex has a great trading platform and low deposit minimum.
STForex has a limited asset range and a mediocre trading experience.
RParker
208 reviews
Review date 27/08/2018
1 2 3 4 5 6 7 8 9 10
STForex offers low deposit requirements, which is aimed at newer traders who dont want to risk too much capital while learning the ropes of the financial markets. Their fees are also reasonable.
STForex needs to offer a more beneficial trading environment before I can take them seriously.
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