StoxDC Review – Stay Away From This Fraudster

StoxDC broker is owned by the shady corporation Heimdall Developments Ltd. This entity is offshore and based in the Commonwealth of Dominica. At first glance, you can see there is something hidden.  For such a short existence in business, since 2020, they have earned many red flags, especially from regulators.

Moreover, their website looks like it’s shut down. It’s not a surprising fact considering their fraudulent activities. This is a good thing since StoxDC broker has lied about owning a license and many other things.

Because of that, this StoxDC broker review will shine the light onto this investment scam and its lies.

In addition to the above, we want to invite you to read our recently updated Crypto Lloyds and DG Flex scam brokers reviews. Your funds are in danger with them!

StoxDC Regulation and Funds Security

All companies that take their business seriously will put their clients and their safety as a top priority. How reputable and good brokers do that is by having an actual license by a Tier1 regulator. 

That way, there’s a compensation fund in case of problems, and Tier1 licensed brokers ought to keep clients’ funds in segregated accounts.

What every broker needs to have is full transparency and safety. However, the problem occurs with firms such as StoxDC forex broker and Crypto Lloyds.

StoxDC is a company that is based offshore, in the Commonwealth of Dominica, and owned by Heimdall Developments Ltd. The first issue here is that the FSU of Dominica itself is not a firm regulator but also doesn’t pay too close attention to firms that are open on its territory.

We put our best effort into searching for the StoxDC regulation, but no luck. It looks like that the brokerage is not licensed by the FSU or any Tier 1 provider such as the FCA, ASIC, or BaFin. In other words, this means that investing any money with this fraudulent broker exposes your funds to risk.

On top of that StoxDC is also blacklisted by BaFIN and CNVM. You can never take official warnings lightly. They are there to protect you.

Trading Platform Overview

We found it very funny when we saw that StoxDC is offering a MetaTrader4 platform, which unfortunately we were not able to access even after we completed our registration. Truth  to be told, we were only offered some overly simplified, web based platform instead.

The only platform we could access is a proprietary StoxDC Web Trader. It’s a standard Web trader, used by many companies on the market, trying to copy an MT5.

However, there are no EAs, social trading, or advanced features that an MT5 actually has. What you’ll get is a simple overview of your trades with 6 chart types and 28 indicators.

Account Types Offered

StoxDC was quite mysterious about their offers. Their account types have only 2 groups and those are the following:

• Standard
• Professional

As you can see, this broker only offers two account options, which is not a lot. Standard account offers a lower maximum volume and a lower number of orders with a slightly higher spread. However, the StoxDC minimum deposit for this account type is not disclosed.

We also have a Professional Traders account as an opposing account, offering higher maximum volume and more orders. Yet, everything is the same, so there are not a lot of differences. And again, we have no minimum deposit.

StoxDC does offer a demo account but at the end of the day you shouldn’t work with a company that is not regulated.

Deposits and Withdrawals from StoxDC

The StoxDC deposit menu accepts Visa and Mastercard credit/debit cards, as well as the AdvCash e-wallet. Deposits can only be made in EUR and the minimum amount accepted is 1000.

There is no information about fees and withdrawal conditions. The Terms and Conditions specify fees for inactive accounts. They start to be charged after 6 months of inactivity and amount to 5 EUR /GBP per month. There is also a ”handling fee” of $5 per month if the account is not verified by providing identity documents.

Methods Used to Commit the Scam

Similar to many other illicit brokers such as Crypto Lloyds, StoxDC has many different ads posted online that promise you quick and easy profits. The reality, on the other hand, is much different since the sole purpose of these ads is to collect your personal data.

After they manage to get a hold of it, they will start with emails which will later turn into phone calls every day until they get you on the line. Once they do that, their agents are trained to be persuasive and tell you whatever it takes to get you on board.

If you have ever been scammed by this scam broker and their very pushy agents, don’t feel ashamed, since it can happen to anyone and you shouldn’t feel embarrassed to report a scam! We advise you to reach out to us, as we have long experience in helping people get their money back.

StoxDC Summary

StoxDC is just another scam broker based in the Commonwealth of Dominica. Although they claim to give their clients an opportunity to invest in forex, crypto and many more assets, we are assuring you they will just steal your money.

Not only are they unregulated but they claimed to be so, multiple times on their website.Additionally, they have been issued a warning by two well-known regulatory bodies, BaFin and CNVM.

The minimum deposit that this scam broker demands is $1,000, which is unheard of from licenced and well-regulated firms. Just as a precaution, make sure to read reviews before investing your money anywhere! You need to be sure you are working with a legitimate company. 

FAQs About StoxDC Broker