Is StoxMarket scam or reliable? FCA StoxMarket warning


The UK financial regulator has issued an alert against StoxMarket, stating that StoxMarket is unregulated Forex broker targeting the UK. Is StoxMarket scam or reliable?

14 June, AtoZForex The UK financial supervisor, Financial Conduct Authority (FCA) has been very active in targeting the illegally operating firms across the country. The watchdog has issued numerous warnings against financial firms that operate in the UK with no regulation. The latest warning from the FCA features the name of the Forex broker StoxMarket.

Is StoxMarket scam or reliable?

The UK financial watchdog has cautioned the investors’ community against dealing with StoxMarket, the Forex broker operating illegally in the UK. The firm is apparently carrying out the business activities using one more name – Marketier Holdings. The firm is also present in other jurisdictions.

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The FCA reports that the company was offering financial services and products to the UK clients without proper regulation from the authorities. That is why the FCA has added the name of this Forex broker to its warning list.

In addition, the UK financial supervisor has exposed the details of the firm.

Address: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands

Telephone: +41 4-3333-8882, 0203 608 8785, 0203 769 6122, 0208 068 4743, 020 8068 1551, 0121 284 0961

Email: support@stoxmarket.com

Website: www.stoxmarket.com

StoxMarket's scope of services

In order to carry out legit financial services business in the UK, any firm or individual must obtain the license from the FCA. Following this warning, the UK regulator urged customers to avoid engaging in business related activities with the company that does not possess the license from the FCA.

A visit to the official website of StoxMarket reveals that the firm is offering investments services. The broker is providing an opportunity to trade Forex, indices, commodities, and stocks. Moreover, StoxMarket offers various asset management solutions.

The official warning from the UK regulator specifically highlighted:

“You should be aware that if you give money to an unauthorized firm, you will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.”

Thus, we recommend always checking the reliability of the broker, especially if the firm reached out to you by a cold call. You can check the fact of broker’s registration via Financial Services Register of the UK.

Canadian BCSC warns against StoxMarket

Earlier in December 2016, AtoZForex reported that Canadian regulator BCSC has issued a warning against StoxMarket. The watchdog stated that it became aware of StoxMarket's activities when Canadian resident was able to open a trading account with the broker.

Additionally, the regulator mentions the broker doesn’t have registration to trade in or advise on securities or exchange contracts in Canada.

Do you think StoxMarket scam or reliable? Do you have any experience with this broker? Let us know in the comments section below.

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