StockDam – How Good Is It?

Website URL: https://stockdam.com

Founded: N/A

Regulations: N/A

Languages: English

Deposit Methods: N/A

Minimum Deposit: N/A

Free Demo Account: N/A

Number of Assets: 7

Types of Assets: Forex, CFDs, Options, Cryptocurrencies, Commodities, Indices, Exchange – Traded Funds

Your interest in CFDs and Options will skyrocket thanks to cutting-edge user interfaces and flawless support methods. It’s past time for you to move on from the tiny puddle and into the big leagues of CFD and Options Trading. And with StockDam on your side, you’ll get it just how you want it. It’s quick, easy, and profitable.

So many promises are given by StockDam, read on to know the truth. Is it just another scam or can it make you actual money?

Trading Accounts & Conditions

StockDam doesn’t give out any information whatsoever about account variations and anything remotely connected to making an account.

StockDam – Advantages

An online broker website that doesn’t even show users what account types they have means exactly what it means. There are no advantages at all to using this site.

StockDam – Disadvantages

No Regulation At All

There is no address, phone number, or email address where you can contact that broker. We couldn’t even question them about it through a direct messaging option. This should be enough to persuade you to keep scrolling and choose a legitimate, regulated broker.

Conducting business with a corporation regulated by a reputable financial body is a prerequisite if you want to avoid being blatantly stolen. Brokers regulated by the FCA, ASIC, and CySEC are all solid choices. Working with a broker registered in an offshore location is not recommended unless the broker is an offshore branch of a well-known European, Australian, or American firm looking to provide clients with more competitive terms.

Plus500

$100

Minimum Deposit

Start Trading

Read Review

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

 

AvaTrade

$100

Minimum Deposit

Start Trading

Read Review

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

Trading Software

StockDam’s platform is said to be an innovative web-based platform “something you’ve never seen before.” “Lean layout, clean technical analysis, and everything connected to CFD & Options Trading,” according to the bogus platform. We couldn’t check if these claims were real because the website didn’t have a platform.

Dealing with such claims of greatness will almost certainly leave you unsatisfied. MetaTrader 4 and MetaTrader 5 are the two most common systems in the market, and both are excellent options. To begin with, brokers that used these platforms most likely paid more for them and were willing to invest in better software.

From Expert Advisors and VPSs that keep EAs running at all times to backtesting methods and even a built-in economic calendar, MT has far more features than most simple web platforms used by scammers.

Trading Conditions

StockDam claims to be a CFD and binary options broker, but we can’t say much about their trading conditions because the website doesn’t list any minimum deposit amounts, leverage rates, spreads, or returns. Don’t waste your time with a con artist when you can open an account with a licensed broker for a small fee – usually between $1 and $250.

The typical spreads offered by genuine brokers are not bad – 1.5 pips is the industry standard, though spreads can be significantly narrower depending on the broker. Legitimate brokers in Europe and Australia are not allowed to exceed a leverage rate of 1:30.

In the United States, the ratio is 1:50. This restriction exists to protect traders from the dangers that high leverage can bring — while your ability to make offers increases dramatically with high leverage, so does the risk of losing all of your money. We should also mention that, because to their high level of risk, binary options have been outlawed in Europe and Australia.

They are currently only permitted in the United States and must be traded on an authorized US exchange. There are only three exchanges that sell binary options, and we can promise you that StockDam is not one of them. As a result, an offer to trade binary options is a major red signal.

Deposit and Withdrawal Methods

StockDam made no attempt to explain how users might be able to deposit or withdraw funds. But that’s definitely for the best, because dealing with such a broker is inherently risky.

StockDam does not disclose what the minimum deposit requirement for opening a trading account with them might be, but because we are obviously dealing with a scam, there are a lot more legitimate brokers offering micro accounts for real – opening accounts, where you will not be asked to deposit more than 250 USD initially and will be able to trade with micro lots of only 1000 based currency units.

Keep in mind that when it comes to cancel your withdrawal requests, scammers might make up almost any explanation. Most likely, however, you’ll be duped into accepting a minimum trade volume requirement, maybe related to a trading bonus. And, of course, scammers will have no issue increasing the minimum trade volume requirement as they see fit, rendering any withdrawal attempts worthless.

StockDam advertises itself as a forex and CFD broker as well as a binary options provider, but we’re not certain that they offer leveraged products at all. Whatever the case may be, they are nothing more than unscrupulous con artists.

It’s also worth noting that scammers may try to persuade you to deposit your assets in bitcoins or other crypto currency for a reason. In general, all crypto transactions are more or less anonymous, but more crucially, they are 100 percent irreversible, thanks to block chain technology.

Conclusion

StockDam holds the distinction of having the most broken website we’ve seen in a long time. Not only did it lack any sort of essential information, but half of the buttons were broken, and the promises of any sort of account were nothing more than a ruse.

We were unhappy that we couldn’t find out anything about this broker, despite the fact that we were meant to be interested in investing with them. They claim to be “trusted and regulated,” but they are as anonymous as possible. At all costs, keep away from this scam broker.

StockDam

2.4

User Experience

2.0/10

Payment Options

2.2/10

Security

3.5/10

Support

2.3/10

Reputation

2.2/10

Pros

• None

Cons

• No Regulation At All
• Trading Software
• Trading Conditions
• Deposit and Withdrawal Methods