Do you want to trade on Clgstocks? Here is what you must know about this broker Clgstocks.com. See reviews to find all about it.
This post promises to share helpful review to support users/traders in making the right decision.
Clgstocks located at Clgstocks.com is an offshore brokerage company with a lot of promises for traders. The broker claims it is located in UK. This, you will know if it is true. More so, it promises $30 bonus on account opening and bonuses up to 50% on first deposit.
What is more, the broker offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
To clarify, traders must know they are dealing with an unlicensed broker with a false claim of regulation.
Withdrawal and Deposit
Under withdrawal policy, Clgstocks leaves us with no specific information on withdrawal fee nor processing days on withdrawal. Here, we are informed of $15 fee on inactive accounts of 90 days. Further, traders will be charged an Incomplete Application Fee of $30 if you have not verified your account after 15 days of trading.
Clgstocks Minimum Deposit:
Clgstocks allows you to start trading with as little as $50. This is pretty good, but the broker lacks genuineness and reliability. Good number of brokers will allow you start trading with a minimum deposit of $100 or less.
As for the payment methods, the broker allows deposits via crypto – Ethereum, Tether, and TRON. Truly, you should not consider making any payment with this broker because it is a risk. Payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Clgstocks claims to offer MT5 (Industry standard trading platforms). Even though this is the standard trading software in forex market, it still doesn’t make this broker different from other scam trading platforms. Many scammers have trading software to fool their victims that their money is being invested.
As for the leverage, it is stated 1:500. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Why Clgstocks.com Is A Suspicious Broker
First of, Clgstocks.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit. On a quick search, Financial Conduct Authority (FCA),UK does not have this broker on its database.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Clgstocks Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Clgstocks located at Clgstocks.com claims to be a trustworthy trading broker, however, that cannot be ascertained. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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Last Updated on December 6, 2022 by admin