ST24 Online is a substandard hoax firm whose main aim is to rob your investment.
ST24online is an illegitimate company staging itself to be a licensed and regularized organization. However, it is quite easy to figure out their genuineness by the lack of information and professionalism they demonstrate on their so-called online platform. As any scam brokers ST24 online claim to be helping investors to earn huge profits and trade successfully nevertheless it is obvious that this platform is nothing but a fraud. This review will provide you with solid reasons to avoid ST24 online completely.
The very first thing which reveals the true intentions of ST24 online as a faux company is that they work anonymously. On any online platform, identity of the individuals in a firm is of great importance to a client. Identification builds a trust between the company and its customers. And the only reason possible to hide their identity point towards deceit and deception. Anywhere on their website they have not provided any information about the people who are working behind this company. The only information provided is that the company supposedly operates from Vanuatu, since it is following the rules and regulations of the Vanuatu regulatory authority. All other information about the company is either missing or obscure.
Secondly, ST24 online does not provide any information regarding being a licensed company working under any regulatory bodies. The website nowhere ensures its clients towards its legitimacy. The absence of such information which is basic and vital for any offshore trading firm is astonishing. Since ST24 online does not provide any evidence regarding its legal background it is completely out of question to invest with this firm and lose your hard-earned money.
Moreover, ST24 online is a fake company which has been officially backlisted by the British regulator FDA. The proof of which can be seen here. Before investing with any automated trading service, it is vital to make sure whether the company is licensed by a trading regulatory body of their respective country. ST24 claims to be licensed by CySEC which is false as the mentioned license number on their website leads to a hoax website which is not an official Cyprus regulatory body but a clone website which is created to deceive the clients. This fabricated information confirms that ST24 online is a bogus company which is not legally recognized by any forex regulatory body.
Thirdly, a con company usually targets its clients carefully to earn maximum money before their fraud is exposed. ST24 online is mostly aiming to get clients from the UK and Cyprus who are novice and are new to the trading business. Even though this firm unmasked at several forums there are still some people who are unaware of their scam and may become a target of this hoax company. This can be proved by the astonishing traffic on their website of 3,927,457.
Lack of customer support service
This so-called trading company lacks professionalism at each step. For any trading company it is significantly important to have a strong communication facility. Not only rookies need to be guided regarding each step of their investment, but even experienced traders need to be in constant contact with their brokerage company. However, ST24 online does not provide any telecommunication contact for its customers rather provides an office email address which cannot be considered as a prompt customer support.
Poor digital platform
In today’s digital market and online businesses, a systematize software play a vital role in attracting the potential clients. An effective software makes the whole online process a lot easier for the client and at the same time creates a professional image of the firm. Similarly, in the online trading arcade there is a strong demand for a user-friendly software. For this reason, Software like MetaTrader 4 (MT4) and MetaTrader 5 (MT5) has been in much demand specially among professional and genuine trading companies. However, even in this domain ST24 online has not been able to tempt its clients by their digital manifestations. The company could not present its best foot forward and was unsuccessful to provide the best possible online platform for its investors.
In the forex trading market, the value-added service any brokage company provides is that of leverage. Leverage not just ensures abundant profit but if not dealt carefully, can also lead to huge losses. Therefore, all reputable and regularized trading firms plan for safe investments for their clientage and offer leverage from 1:30- 1:50 which is approved by the trading regulatory bodies. In contrast, ST24 online supposedly offers leverage as high as 1:500 which is beyond their capacity. The only possible reason of offering such high leverage from an underdog company such as ST24 online, is to attract more customers and mislead them through unrealistic figures.
Undue charges and fees
The people behind ST24online are con men however they have been imprudent in many a place. Even a quick examination of their website brings forward many loopholes and flaws in their clause. The clause on their website which makes any account dormant after 60 days is astonishing. Even the most meagre company provide a duration of at least 6 months before an account is considered dormant. Moreover, a hefty amount of 50$ fee which would be charged monthly for these accounts clearly shows their greed for money. This imprudence demonstrated theirs overall services to their customers which is only to procure money from their clients.
Nonexistent Client reviews and feedback
Client’s review and feedback is very essential to figure out the authenticity of any online business. Similarly, in the trade market client reviews is a guarantee to the new investors to select any forex trade firm for investment. In the absence of such guarantee the client can be said to be blindly trusting the company which is a big gamble. ST24 online does not have any client reviews or feedback on their platform even though they have been claiming to be in the market for quite some time. This lack of assurance is a clear sign to not even think about investing with such a company.
There are many companies which are hoax however the people behind those companies are smart enough to cover their weak links so that they can convince the clients that they are genuine. Nevertheless, ST24 online is owned by such people who do not even care about getting caught as scammers as they have left may loose ends for anyone to see. All they are looking for is a rookie who is new to the entire trading process and is willing to invest even a minimum of 250$. Once the account is open, they would not allow for withdrawal of any amount making excuses and look for another such target. This is the entire scheme of ST24 online and it’s better for you to stay out of it.
- User interface
- Questionable Marketing Tactics
- Horrible Market Reputation