StockSons – Can You Trust Them?

Website URL: https://stocksons.com

Founded: 2015 – 2020

Regulations: Unregulated

Languages: English, French, German, Italian, Spanish, Polish, Portuguese (Brazil), Indonesian, Korean, Russian, Chinese (Simplified), Spanish (Argentina), Vietnamese, Japanese, Farsi

Deposit Methods: Unknown

Minimum Deposit: $50

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Futures, Stocks, Forex

Trading Accounts and Conditions

StockSons offers its clients the following trading accounts:

• USD: The minimum deposit requirement for the USD account is just $50. You are promised a monthly profit of 51% if you trade on this account.
• EUR: The minimum deposit requirement for the EUR account is $500, and you are promised a monthly profit of 70%.
• GBP: To trade on the GBP account, you first need to make a minimum deposit of $3,000, and you are promised that you will make monthly profits of 93%.

There are no trading conditions mentioned for any of these account types. In fact, rather than accounts, these look more like financial packages offered by this broker.

StockSons – Advantages

Unfortunately, we cannot find any advantages to trading with StockSons. Read on to find out why.

StockSons – Disadvantages

Here are the reasons why it would be a very bad idea to contract with StockSons:

• No Regulatory Oversight

StockSons is based in Luxembourg, or at least, we assume that it is, since the only corporate information we have about this broker is an address in this country.

There is no company name provided on this broker’s website, so there is corporate anonymity that we find worrisome. There is also no mention of a license or registration number anywhere on StockSons’ site.

All brokers that operate out of Luxembourg need to be regulated by the financial watchdog of this country – the Commission de Surveillance du Secteur Financier (CSSF).

So, we checked the CSSF’s online registry to see if this broker was registered with them. Of course, we did not find the name StockSons listed there, and since we do not know the name of the parent company, we can only assume that this broker does not fall under any regulatory oversight.

This broker is anonymous as well as unregulated, which is a clear indication that you cannot trust them with your funds.

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• Blacklisted by CSSF

StockSons is not only not regulated by the CSSF, but this financial regulator has, in fact, blacklisted the broker. The watchdog has warned its citizens against trading with this broker since it is authorized to do business in their jurisdiction.

Furthermore, the regulator states that this broker has actually a clone firm that has used the design and corporate address of a legitimate company. Scammers frequently use another regulated company’s outlook to lend themselves legitimacy.

• Trading Conditions Not Clear

Besides the illegality of their operations, StockSons also does not provide its customers with clear trading conditions. We do not know what the reference spreads are, or what the maximum leverage ratios offered are, and we don’t have any information on the other trading costs.

Once again, there is a lack of information about key points with this brokerage.

• No Demo Account

StockSons does not offer its customers any free demo account. A demo account is important in that it allows traders to check the trading conditions offered by the broker for themselves. Furthermore, it also gives traders a chance to test the broker’s trading platform.

Scammers avoid offering a demo account because they do not want their prospective victims to find out what they are actually getting into.

• No Real Trading Platform

The lack of information spreads throughout this broker’s offerings. Since there is no demo account available, we decided to open a live account – without making the money deposit. This way, we hoped to at least check out the trading platform offered by this broker.

However, after we registered, we were shown a simple looking dashboard that did not have any trading facility. The only thing you can do on this platform is deposit money.

Most brokers offer their customers solid trading platforms such as the MT4 (MetaTrader 4), which has a plethora of features that make trading much easier. The MT4 platform has charting options as well as technical market indicators that can help with data analytics. In addition to that, there are trading bots that can be programmed for automatic trading.

StockSons, on the other hand, gives you a fake dashboard with no real trading platform that can only accept deposits. Clearly a scam!

• Unrealistic Returns Promised

Despite the fact that this broker has not given any information about its trading conditions, StockSons promises to deliver stunningly high profits to its customers.

For the US account, you are promised 51% profits, for the EUR account, you get profits of up to 70% and for the GBP account, you get a profit of a massive 93%!

The reality of trading is that most traders lose money on the market. And brokers that are regulated need to publish the percentage of their traders who have lost money. This percentage usually ranges from 70% to 85%.

Therefore, these promises made by StockSons are just lies designed to trap eager traders into losing their money.

• No Deposit and Withdrawal Methods Mentioned

Brokers usually mention all the ways in which their clients can deposit or withdraw their money. However, with StockSons, this information is also missing.

You really don’t know how you can make deposits or withdrawals until you actually open an account with this broker.

Conclusion 

StockSons is like a black hole. There is absolutely no information about any of the key points that make a broker attractive. There is no corporate information, no trading conditions, no demo account, no trading platform, and no information payment methods. The only thing this broker relies on is the massive profits (which are obviously fake) to attract customers.

We would recommend that all traders avoid dealing with this broker.

StockSons

2.6

User Experience

3.4/10

Payment Options

2.5/10

Security

2.4/10

Support

2.5/10

Reputation

2.3/10

Pros

• None

Cons

• No Regulatory Oversight
• Blacklisted by CSSF
• Trading Conditions Not Clear
• No Demo Account
• No Real Trading Platform