Stocksons Review: Stocksons.com Forex Scam Exposed

Stocksons (Stocksons.com) is a Forex trading platform claiming to offer investors a full passive income of 2.3 percent daily. Stock Sons is also offering a 24.5 percent income commission for their partnership invitations. These promises may seem alluring but have dire consequences for those who sign up. Already, hundreds of complaints have reached our help desk with members complaining of mistreatment. Read this genuine and transparent STOCKSONS Review for more.

About Stocksons

According to the history page, the Braun brothers were the founding members of this platform. The history claims these brothers moved to Luxembourg where they first worked at small brokerage firms. According to their history page, Stocksons was a company which was registered in 2015. They claim Stocksons is an asset management company and a brokerage firm. The about us page claims the platform has the best team of brokers, analysts, and HR managers.

With such a compelling history, one would easily sign up with the platform. Scam artists will do or say anything to make their platform look legit. And this is exactly what Stocksons is doing with their story. Thanks to our keen eye and investigative prowess, we have uncovered another huge scam. Before opening an account with the platform, it is best you read what we found out. Staying safe is what makes a trader successful. And this is why you need to use recommended brokers who have years of trading experience.

Activity of the Platform

According to their activity page, Stocksons is a brokerage firm trading in all markets. The quoted markets include Euronext, London Stock Exchange, New York Stock Exchange, and others. Scam artists will sell their prowess by using reputable trading markets. The principles stated on their activity page are a roost to get more investors to sign up. Stock Sons has a reputation of blocking withdrawals from members. Read on to find out why the platform has been blacklisted by a European regulator.

Business Team

Once we clicked on their team page, a lot of information popped up. According to the team’s page, Otto Braun is the Chief Executive Officer. Lars Braun is the person posted as the president of the firm. The image of Lars Braun is a stock image and does not resemble the real Braun these scammers claim to be. These scam artists are using stock images to throw off investors. And this is one of the many reasons why we plan to expose the platform. Stay away from Stock Sons as this is another online scam. Apart from using false ownership details, there are other alarming features to watch out for.

Domain Details

According to the trusted domain checker whois.net, Stocksons.com was recently created. The register shows the website was created on 23^rd October 2019. And this is clear evidence the platform is barely a year old. Claims of being in the market since 2015 have been thrown out of the window. Scam artists will try and sell their trading experience by quoting past years. Thanks to domain registers, one can certainly know when a website was created. These are scam artists who want to steal from unsuspecting investors.

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License and Registration of Stocksons

The platform claims to be based in Luxembourg. With this statement, it is expected Luxembourg regulatory body has licensed the entity. A shocking warning has been issued by the CSSF which is the official Forex broker regulator in Luxembourg. Stock sons is banned from offering any brokerage or trading services in the region. As a result, anyone who opens an account with the platform should know funds are far from being secure. An unlicensed entity does not secure funds deposited by investors.

Other regulatory bodies in the region have not licensed the platform. They include BaFIN, CNMV, CONSOB, CySEC, FCA, and FINMA. And this is an indication we are dealing with scam artists who have a calculated plot. These scam artists will get as many investors to sign up and deposit before shutting down. If the authorities will not shut down the website in quick time, a lot of members will lose their funds. To avoid such a misfortune, it is best to stay away from Stocksons.

Limitations of Stocksons

Account Details

Stock sons is not furnishing members with any account types. We searched for information regarding account features but couldn’t find any. And this could be as a result of scam artists hiding it for a reason. They want newbies to sign up as most of them don’t have a clue on trading. The website does not indicate the acceptable minimum deposit required to start trading. This gives them the chance to ask for any amount from unsuspecting traders. The industry has set $250 as the acceptable minimum depository requirement.

Contact and Support

The platform has a chat bot with the name Alfred as the main agent. These scam artists are using a bot to answer queries. The problem with their communication channel is they stay long before answering questions. These scam artists prefer bot services which enables them to stay below radar. A real trading platform will offer live chat support to aid in efficient communication. Stay away from this platform and never click on any messages links sent by the chat bot.

Depositing and Withdrawing

When it comes to the depository channels, the platform does not list any. From one of the victims, we learnt the platform gives members a bank account to deposit funds. Once you deposit funds, the platform promises funds will reflect on the trading account.  Most members have been waiting for months for the funds to reflect with no avail. Withdrawing is another issue with this platform. Stocksons is not allowing members to withdraw funds citing system interference on member’s side.

Development Plan

Their development plan is a roost to get traders to jump in their trading wagon. Clearly, the platform will not meet any of the plans as it will be brought down. After checking their developmental plans, it is clear the platform is not ready for such a huge challenge. They talk of having an app which most traders have on their first year. These scam artists have listed a developmental plan just to make the platform appear professional. Stay away as this is another online scam.

Trading Platform

Although the entire website has no details regarding their trading platform, we know what is used. Stocksons is using a custom-made platform which fails to pass any real tests. Their trading terminal is unstable due to lack of proper security details. Lack of DDoS and SSL encryption is proof of the terminal’s vulnerability. Hackers will easily gain access to the platform and steal valuable data.

Safety of funds with Stocksons

Stock sons is not able to safeguard funds deposited by members. The platform is incapable of offering safe measures to protect against third party attacks. Members are depositing funds direct to the owner’s bank account. With accounts missing, segregation of accounts is not happening. Another problem is Stocksons is pooling funds in one account. Traders should not expect any compensation from a platform that does not participate in a compensatory scheme. Stay away from this platform and don’t sign up.

Scam or legit Stocksons

After viewing all the details, we are sure Stock sons is a scam. Stay away from any of their affiliate programs and don’t click on their links. Warn your family and friends from joining platforms which are banned by regulators. With these precautions, you will keep yourself and loved one safe from online scam artists.

Verdict

By adding the platform to our scam blacklist, we will be protecting our readers. Avoid online scams and use reputable Forex trading robots.

We wish all investors and traders a happy and prosperous trading experience.