Warning! STOCK SONS is an offshore company! Your deposit may be at risk.
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Stock Sons looks good and plays good, but is it a fair player, or is this one a scammer? Read the review to find out.
The broker claims to be registered in Luxembourg, even providing a 3-page incorporation document in Spanish, for some reason. However, the broker does not provide regulatory information. We remind readers, that a company is easily incorporated, but a license is what it should have in order to provide legal and safe trading conditions.
In Luxembourg the Commission de Surveillance du Secteur Financier (CSSF) is what regulates the local market industry. We checked the regulator’s website for a Stock Sons and did not get any results. Thus Stock Sons is UNLICENSED, even if the website looks and feels quite professional and up-to standards. Do not be fooled by such aspects; illicit brokers are conscious of the power of good looks and will play on people expectations to lure in deposits.
Once we registered, we were presented with a one-of-a kind dashboard, that revealed to us the truth. The following section further explains. What must be known for now is that no trading conditions apply, like spreads or leverages.
Surprisingly, the broker offers its website in a huge assortment of languages: English, Spanish, Russian, Italian, Arabic, Chinese, German, French, Polish, Portuguese, Indian, Korean, Farsi, Japanese, and Vietnamese.
STOCK SONS LOGIN
The fact of the matter is that Stock Sons is another broker promising out-of-nowhere profits on users’ deposits. Essentially, a user is given either some currencies, commodities, or equity markets to invest in, after which they are to expect a daily profit. For example, if a user is to deposit $25k into silver, he or she will be gaining a $500 profit every day.
That is the just of Stock Sons. It has no trading platform. It goes without saying, that no money will ever come from this scheme.
STOCK SONS MINIMUM DEPOSIT
Upon registering an account, we were presented with the following payment methods: bitcoin, Ethereum,
Due to the broker’s lack of any regulation, we advise against depositing any amount whatsoever. If traders wish to invest in online forex, they will find that any FCA/CySEC regulated broker will surely do. These agencies are at the top of their game, demanding a strict conduct from brokers, and requiring regular reports on their activities.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
It may or may not happen, but if an unregulated broker asks you to install AnyDesk or TeamViewer and give them log in details, consider yourself very open to a complete drainage of your funds from all your online accounts. These software allow for anyone to access your PC from another station and go through all your files and vital information, including credit card, bank and alternative payment method details. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.
STOCK SONS WITHDRAWAL TIME AND FEES
According to the withdrawal terminal, users are charged with a 0.5% fee for internal withdrawals, while unverified users are taxed with 2%. There is no indication on a processing time.
ADDITIONAL FEES AND TAXES
There are no real legal documents that tackle legal issues, fees, and the like. We have no choice but to leave this section as it is.
Unregulated brokers do not care who you are and what your situation is; all they see is money, and they will trick you into giving it to them every chance they get. It is only logical then, that any attempt at withdrawing will be unsuccessful. The most popular excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to loopholes in the T/C, asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.
We strictly advise against giving away an ID and proof address to unregulated brokers: they can be literally anyone with enough time and skill to mask themselves as a broker. Usually, these individuals use the anti-money laundering legislation as front for when traders start to get suspicious. Once this suspicion is confirmed and you file for a charge back, they will use your details against you case.
We are positive that this so called broker will not return your funds; the evidence we have laid out before you work in sync against it. The sound thing to do is to direct your attention and investment to an FCA or CySEC licensed broker where the law is integrated in every aspect of their operations.
HOW TO RECOVER
Filing for a charge back is the best advice we could give you. Immediately contact your bank or credit card company and lay out the circumstances.
Cancel your credit card if you have shared any notable details with the fraudulent broker, especially if you have provided them with the card’s CVV code. If such is the case, annul your credit card ASAP.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
Stock Sons is not even a proper broker, not to mention an illicit website that will take your deposited funds and never return it back. Stay away from this one!