Table of Content
StonewallFX Review: Read Before You Trade With This Broker
Table of Content
StonewallFX Review, The first thing that you think of when you see an offshore company is that something is not good there. Most of the time, you are right, but we will see if that’s the case with the StonewallFX broker. They are based in Saint Vincent and Grenadines under the company name H1 Tech Solutions LLC. SVG dissociates itself from providing licenses for Forex and CFD trading companies.
Therefore, we should look at the regulations of other countries where this company operates. According to StonewallFX broker reviews they are scamming traders from UK, Australia, and Cyprus.
|Headquarters||St. Vincent and Grenadines|
|Review Rating||3.6 on Trust Pilot|
|Spread||From 0.01 pips|
Regulation of StonewallFX and Funds Security
In trading security is everything. The only way a broker can provide that is through licenses. The company needs to comply with some rules and regulations to be eligible for licensing. That’s why we are always looking for Tier 1 licenses. Those are from FCA, ASIC, BaFin or CONSOB.
If the broker has any of these, you can consider it a safe broker. Otherwise, it would be just a broker scam. Looking in the registers of these regulators didn’t bring us anything good. There are no traces of a StonewallFX broker. Therefore, we would advise you to keep your money safe and think twice before taking any risks with this broker.
StonewallFX Trading Software Overview
Once you register with the broker, you can access their trading platform. It’s nothing more than a basic chart with some indicators and minor customizations available. On top of that, it’s a web-based platform and it doesn’t provide any reliability whatsoever.
These platforms often provide clients with data that is not in sync with real data from the market. That’s because they want you to believe that you are making something. And back-end tricks can make that happen in a blink of an eye.
Reliable brokers offer reliable platforms. That’s why we always suggest looking or MT4/MT5 or cTrader. Those are trusted ones with a vast of TA tools, social trading, copy trading, and many more features.
What Account Types Does StonewallFX Offer?
With the minimum requirement of 250$, you can’t get any benefits from this broker. However, the benefits that they present are all fictive since they are not regulated brokers and anything they write is questionable.
Let’s see what account types they have:
- Bronze 1.000$
- Silver 5.000$
- Gold 10.000$
- Diamond 50.000$
- VIP 100.000$
- Black 250.000$
The higher you go on this scale, the better trading conditions you get. Spreads range from 0.001 pips up to 0.12 pips for a bronze account. With any account, you get a certain amount of signals for trading. Those are mostly because companies like this often advertise robots for trading.
Leverages on accounts go up to 1:300. This is not allowed according to any regulation or ESMA rules.
Even if you start with this broker, it’s questionable what you are going to get.
We honestly advise you to look for a licensed broker that offers micro accounts that you can test out. Forget about these investment scams!
What Can Be Traded on Market?
Even though the list is solid, we wouldn’t trade these assets with this broker. However, available assets are:
- Forex – USD/SEK, AUD/SGD, EUR/HKD
- Commodities – oil, platinum, cotton
- Indices – DAX30, Nikkei225, Dow Jones
- Shares – Apple, Nvidia, Ford
- Cryptocurrencies – BTC, ADA, LTC
All assets mentioned above are available in most trading companies. The difference is that with a regulated company you get security and proper education about trading with those assets. Besides that, leverage is a lot smaller and keeps you safe from losing all of your funds in a blink of an eye.
Deposit and Withdrawal Process
For the depositing method, you can use a credit/debit card or crypto transfer. Withdrawals can only be done in the same method as the money was deposited. All withdrawals are subject to the company Bonus policy and that’s where is the trick.
There are as well basic fees for withdrawals from 30 to 300 USD. To make a withdrawal you need to verify your account with documentation. The StonewallFX broker doesn’t disclose what documents are required for withdrawal. It takes up to 48 hours for review and approval.
That is where the chase starts. They tend to make up different excuses why not providing clients with money. From the documentation, additional fees and bonus policy.
If you take any bonus from them, you need to make a rollover of at least 20 times to get the withdrawal. Be aware of that, because those are just cheap tricks that clients are not aware of.
How Do I Receive A Refund If StonewallFX scammed me?
The company states in its T&Cs that any deposits are not refundable. However, you have a chargeback! Every trading company is afraid of it because that can destroy their business.
A chargeback can be a good option when you are using a debit or credit card. However, if you were using a crypto wallet transfer things get a bit more complicated. Yet, some professionals know how to get those things done as well.
Our fund recovery team is working on those cases for years. Let us know your story first. After that, you can book a consultation with our experts and find out what is your first step.
Don’t waste any more time and get in touch today!
FAQs About StonewallFX Broker
Is StonewallFX A Reputable Broker?
No. This broker is not the one you should trade with because they don’t provide any security to their client’s funds.
What are StonewallFX's Funding Options?
StonewallFX broker offers two options. Those are debit/credit cards and crypto transfers. Just be aware that crypto transfers are non-traceable.
Does StonewallFX Provide Trial Accounts?
No. They only provide live trading accounts with bizarre minimum requirements. Besides that, they only have a web trader, so it’s no use in learning to trade with them.