StocksKey is a broker mainly operating in Australia, Canada, and the UK. However, it seems that the firm provides trading services without proper authorization, which is why we exposed the scheme. Read our StocksKey review to understand why this investment firm is not recommended.
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed brokerage |
| Scammers Websites: | stockskey.com |
| Blacklisted as a Scam by: | FINMA, AMF Quebec |
| Owned by: | Reef Tech LLC |
| Headquarters Country: | Saint Vincent and the Grenadines |
| Foundation year: | 2021 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | N/A |
| Cryptocurrencies: | Available |
| Types of Assets: | FX, commodities, indices, futures, shares, cryptocurrencies |
| Maximum Leverage: | 1:500 |
| Free Demo Account: | No |
| Accepts US clients: | No |
What About StocksKey Regulation?
StocksKey is a brand owned by Reef Tech LLC, a firm from Saint Vincent and the Grenadines. Besides the fact that this firm shares address with many other scammers, such as DakkenGroup, there’s a big regulation issue. SVG has no financial regulator in charge of Forex and binary options brands. Therefore, many illicit operations are based on this particular Caribbean island, hoping to avoid any consequences for their actions.
Also, we want to invite you to read our recently updated reviews of fraudulent brokers DakkenGroup, Intel Trading and Exindex. Be careful with these brokers.
Why Must a Broker Have a License?
A broker must have a license for several reasons. The one most important for you as an investor is funds’ safety. Tier1 license providers obligate Forex firms to have significant compensation funds to reimburse potential victims. Therefore, you know that you will have some of your money back. This kind of insurance doesn’t exist with unregulated offshore firms, such as StocksKey.
StocksKey Warnings From Financial Regulators
StocksKey has been blacklisted in Canada by AMF Quebec and Swiss FINMA.
Warning Issued By Swiss Financial Regulator
The Swiss authority body announced that StocksKey broker never entered their commercial register and provides financial services as an unsolicited domicile. Therefore, anyone involved should be aware that they’re not entitled to regulatory assistance.
Traders Reviews About StocksKey Scam
Instead of us talking, let us show you a few StocksKey reviews from Trustpilot. You’ll understand it all.
“They will take all your money and simply disappear” – Trustpilot Customer
“Absolute scum. Constantly ringing every night for over a month because I changed my mind. Rude, harassing phone calls. Great way to run a business.”
– Trustpilot Customer
Supported Trading Platforms – Available Trading Software
We were surprised to learn that clients cannot access the company’s trading platform before being approved. This means you will have to send all the required documents and wait for official approval before seeing your deposit and accessing the WebTrader. So it’s not just that the choice of trading software is poor, but they’re not allowing you to see your funds before they approve you. And honestly, we’re unsure how long this process may take and if your access will ever be approved.
If you want to start investing, find a regulated company offering MT4 or MT5, as these platforms are a few levels above any WebTrader on the market.
Everything About StocksKey Accounts
If you are still interested in investing with StocksKey, you can choose among 5 account types.
The leverage goes from 1:100 to 1:500 for each account type, and the more you upgrade, the more perks you get, such as personal account manager, portfolio management, news alerts, etc. However, StocksKey never listed deposit requirements, so we don’t know how much you need to invest to be trading with this scheme firm.
StocksKey Range of Trading Instruments & Markets
Clients can trade in the following markets:
- Currency pairs
- Commodities
- Indices
- Shares
- Cryptocurrencies
- Futures
In the meantime, avoid scammers like Global Solution, Fin Venture and 365Falcon. If possible, tell us about your scam experience.
StocksKey – Bad Trading Conditions
Besides unregulated leverage, we have nothing about spread, fees, or commissions you will need to pay to this firm. As mentioned, you cannot view the platform or your funds before having your account approved, which increases the risk of your funds being stolen. Furthermore, the company claims to provide Electronic Trading, and upon depositing funds, you need to receive a code to access their system. Once again, you may never get this code, and this all might be a plot to take your initial deposit and disappear.
StocksKey Deposit, Withdrawal Methods, and Bonus Policy
You can invest using the following payment methods:
- Visa
- MasterCard
- China UnionPay
As you can tell, methods are pretty limited, and we’re unsure if this is the complete list. Oddly, there’s no wire transfer as the most popular payment method. The same methods are available for withdrawals, and you need to receive the funds the same way you deposited them.
If you have received a bonus, you will have to repay the amount divided by 4, in lots, before being able to submit a withdrawal request. Just to clarify, 1 standard lot equals $100,000. So, suppose you got a $100 bonus, you will have to have a turnover of 25 lots or $2,5 million dollars.
What to Do if I Get Scammed – Tell Your Story
If you find yourself a victim of StocksKey, tell us your story. We’re here to assist you with this matter and help you file a dispute for a chargeback.
But What Is A Chargeback?
A chargeback is a way for the bank to reverse a fraudulent transaction processed via credit card. There are many recovery options, but you need a specialist to determine the best and quickest. Since scam brokers are disappearing every day, we urge you to act now.
Book a FREE consultation via online chat, and let’s get your money back.