Stockvalo Review – Uncover the Truth about this Broker

Stockvalo Review

There is a wealth of online brokers that are offering excellent services to people in the financial markets, but that does not mean that all of them are actually capable of doing so. Sure, there are some industry leaders that have done an outstanding job, but there are also scam and fraudulent ones that come with their own set of problems.

These are the ones you need to be wary of when you are starting out and looking for a broker to open an account with. This Stockvalo review will help you familiarize yourself with one of such companies.

Most people are confident that they would not be fooled by a scam broker and would be able to tell it apart from legitimate ones. But, the fact is that even professional traders have been bamboozled by these fraudulent ones because they do such a good job of convincing people.

They know exactly what tricks to use and many do not have any such obvious signs that can help people identify them right off the bat. Instead, you have to dig in a little to uncover the truth and you need to be prepared to make some effort to do so.

There was a time when it was easy to distinguish fraudulent websites because they were poorly designed, or had grammatical errors and other similar flaws. But, those days are gone because today there are lots of tools and software that are available for free and can be used for creating a professional website without any expertise.

This is exactly what fraudsters do to present an authentic front, but the actual truth is the complete opposite. You will find the same happening in the case of Stockvalo that appears to be a capable brokerage at first glance.

But, once you start digging into Stockvalo and its offerings, you will find that it has the same set of issues that are common in fraudulent brokerages. Let’s uncover the truth:

Lack of licensing

The first thing that you need to check about any online broker is their licensing and regulation because this adds a layer of authenticity and security. It confirms that the company is monitored by a regulatory authority and can be held accountable.

It is also required to comply with policies and laws that are applicable in the jurisdiction it operates. Most importantly, licensed entities are unlikely to be fraudulent because of the oversight and this gives traders peace of mind.

Therefore, the fact that Stockvalo claims to be licensed and by the most reputable regulatory authorities in the world is undoubtedly impressive. According to its website, it is regulated by the Cyprus Securities and Exchange Commission (CySEC).

Plus, it also states that it has the permission of the Financial Conduct Authority (FCA) to provide its services in Britain. Post Brexit, the FCA had permitted some brokers to operate in the UK if they have a license to operate in the EU.

Unfortunately, all of this is nothing but a lie because you will not find Stockvalo listed in the online register of the CySEC. As a matter of fact, you will find that the regulatory authority has actually issued a warning against the brokerage, which dictates that the company is providing its services in the country without authorization.

This is all the proof needed that you are dealing with a fraudulent brokerage that is operating illegally in the EU, which means it cannot operate in the UK either.

No trading platform

Another important feature that you need to check out in an online brokerage is its trading platform because this piece of software is must for trade execution.

You obviously want to have access to the best platform and Stockvalo is offering you access to a powerful and popular solution in the market; MetaTrader4 (MT4). This sounds quite impressive, especially considering that you are dealing with an unlicensed broker.

However, when something sounds too good to be true, it usually is and you will find the same here because when you try to download the MT4 platform from the Stockvalo website, it will give you an error.

There is no link to a trading platform available and all you find are a bunch of charts that are meant to create the illusion of a platform and nothing more. They do not support trading of any kind, which means the brokerage is not going to offer you any services and is just interested in your money.

Absence of legal documentation

Before you sign up with any brokerage or platform, you need to be aware of their Terms and Conditions because these outline the relationship you will have with them in the long run.

They have details about the rules and policies applicable, along with costs and fees that you should be aware of. You do not want to deal with any nasty surprises in the future.

But, this becomes a problem because when you go through the Stockvalo website, you will not find any Terms and Conditions, or Client Agreement available.

There is absolutely no legal documentation on their website and this is a major problem because you will have no idea what to expect when you are using their services. This is not something a genuine platform would ever do.

High minimum deposit

A minimum deposit has to be made for opening an account with a broker and Stockvalo asks for the same. But, the amount you have to deposit is relevant here because it is a norm for scammers to ask for a higher-than-standard deposit as they are aware they may not get more the next time.

You will notice that Stockvalo asks you to make a deposit of $500, which is higher than the average of $200 to $250 that most brokers require. In fact, these days, brokers are allowing their clients to open accounts for as low as $10.

Wrapping Up

Once you dig into the details of Stockvalo, you can uncover the truth about it being a fraudulent and scam company.