Stonewall Fx has a very nicely designed website. The problem is that the website lacks basic information, which is necessary for this type of business.
Stonewall Fx says it offers to trade in forex, spot metals, spot energy, indices, stocks, and cryptocurrencies. Although the offer seems good, it is not known who is really behind it.
When it comes to unregulated brokers, no offer is good enough, as it is usually a scam. The scam is also carried out by StoneWallFx, if you want to know the details, read Stonewall Fx Reviews to the end.
Is Stonewall Fx a Reliable Broker? Regulation and Security
Stonewall Fx, on its website, does not offer any information that is essential for doing business with clients. Although they say they have a worldwide presence, the location of the company’s headquarters is unknown.
Also, it is not known who is behind the company. No licenses are listed on the site either. This issue is crucial for users, as it is necessary for them to have legal protection enforced by one of the regulatory bodies.
In this way, clients remain unprotected. The only data that Stonewall Fx offers its users is a vague email address and phone number. Stonewall Fx has no corporate background.
Broker’s Trading Platform Overview
The trading platform that StonewallFx offers its customers is their WebTrader, which is built into the site. The trading software is among the worst we’ve seen, it is almost useless.
The chart does not adjust and there are no additional options other than the one-click trading function and the option to buy or sell.
Offering such trading software to its clients shows a complete lack of effort, even for a scam broker. Not only will Stonewall Fx scam you, but it will do so while forcing you to use its joke of a trading platform.
Even if it was a regulated broker, we wouldn’t recommend it to you because of this kind of software.
Stonewall Fx Deposit and Withdrawal
The minimum deposit is 250 USD. This is a large amount, considering that the average minimum deposit with most regulated brokers is between $10 and $100. The deposit can be paid via credit card or bitcoin transfer.
For refunds, the process requires identity verification. The process takes 7 to 10 working days. The minimum withdrawal is 100 USD and the fee charged by Stonewall Fx is 1 percent.
VISA and Mastercard are among the mentioned cards used for transactions. For any additional customer questions, Stonewall Fx suggests contacting customer support.
How Does the Scam Implement?
The goal of such brokers is to reach as many users as possible in the shortest period of time. After they convince their new customers that they are a regulated broker with an incredible offer, they will try to get as many deposits as possible from the customers.
That is why minimum deposits are often high with such brokers, especially when looking at each type of account.
Once the client makes a deposit, the fraudulent broker will try to extract as much money as possible from the client. When a customer wants a refund, it is likely that no one from the company will contact them, or they will delete the customer’s user account.
It often happens that when such brokers deceive a large number of people, they just delete the site and disappear from the internet scene. But it happens that after some time they appear again under a new name and with a new web address.
It is important not to do business with unregulated brokers because even if it is not a fraud, you will not be able to protect your funds in a regular way. The fraud is carried out according to a well-established scheme implemented by many fraudulent brokers.
Recommended Forex Brokers
In order to further protect you from fraud, we will suggest regulated and safe brokers, with good trading software. Considering that Stonewall Fx is one of the many scams of this type, we have singled out suitable brokers so that you don’t wander around the Internet.
Pay attention to the table and check whose conditions would suit you best, then look at the websites of the brokers on the list and judge for yourself what fits your financial abilities best.
If you still want to find a broker to trade with, please be more careful. It often happens that fraudulent brokers list fake licenses and company headquarters.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Stonewall Fx basically does not make any special offers to its clients. Even for an investment scam, the business conditions for customers are terrible.
The company has many red flags such as large minimal deposits, and a slow refund process.
The worst part of the Stonewall Fx business is the bad trading software. And the biggest problem for users is certainly the lack of licenses and regulations.
All in all, even if Stonewall Fx was a regulated broker, we would not recommend it at all. But the fact that it’s unregulated means you should bypass it entirely.
FAQs About Stonewall Fx Broker
Is Stonewall Fx Regulated?
Stonewall Fx is not a regulated broker so you would do well to avoid it.
Is my Money Safe with Stonewall Fx?
Clients’ money is not safe with Stonewall Fx Broker, as it is an unregulated company.
Does Stonewall Fx Offer a Demo Account?
Stonewall Fx does not have a Demo Account option on its site.