Silver Stock Review – Anonymity Is Their Middle Name
Even at first glance, you can see something is not right here. The broker doesn’t reveal any information about the company ownership or addresses. On top of that, there is numerous trading information missing. But that all is irrelevant once you realize how many people were not satisfied with their service.
All key facts and reasons to avoid this company you can find in our comprehensive Silver Stock review.
Silver Stock Regulation and Security
As a company that doesn’t reveal much, we are digging everywhere. In general terms and conditions, they mention Estonia as the country with applicable jurisdiction over any legal problems. Thus, in the FI (domestic regulator) there is no information about Silver Stockbrokers. Not only that.
With the hope that we will find something better we were checking other regulators. Such as FCA, BaFin, CONSOB, ASIC, CFTC and more. Unfortunately, all results were giving us blank pages with no results found. Now we understand better Silver Stock broker reviews. Where many traders reported this scam broker stealing money from them.
Without proper authorization and monitoring, they can do anything they want. But not forever if we come up together and warn traders about their fraudulent activities.
Broker’s Trading Software Overview
Another warning sign for traders is always trading software. If the broker can’t provide trusted and reliable software there is nothing much to talk about. Experienced traders nowadays prefer Meta Trader or cTrader. However, the Silver Stock scam broker didn’t bother to invest in that.
Instead, they present their web-based software as something significant. While in reality, it’s just a basic web-trader with limited functionalities. Only a few indicators and charting options are available. But if you were looking for a bit more advanced features you would leave disappointed. But the agony doesn’t end there.
The broker promotes some kind of mobile app. Thus, that app is not owned by this broker. Therefore, they mislead traders about owning a dedicated app. Instead, they guide you to the third-party offshore broker.
Deposit and Withdrawal Process
According to the company terms and conditions, there are only two payment options
- Debit and Credit cards
- Bank transfers
However, we can see multiple third-party payment processors presented. Such as SafeCharge, WebMoney and UnionPay. All these are choices where traders can’t get a chargeback. Unlike regular card transfers. Also, don’t be surprised if this broker promotes crypto transfers. That way they can keep their anonymity on the highest level.
As for the withdrawal, the same methods are applied. However, withdrawal processing time or fees are not revealed. Which raises even more suspicion about this investment scam. Important to realize is that the broker also applies non-deposited funds. These are all kinds of bonuses that limit your withdrawal.
Account Types at Silver Stock
With Silver Stock Broker there are 5 account types:
- Green 5.000 EUR
- Premium 15.000 EUR
- Platinum 50.000 EUR
- Executive 100.000 EUR
- Presidential 250.000 EUR
The only financial benefit from higher deposits is from spreads. But with a leverage of 1:200, it’s very easy to wipe your account balance off. However, ESMA rules don’t allow such high leverage for retail traders.
Other benefits that this broker proudly presents are all related to their sessions with analysts and training.
How Does the Scam Implement?
The broker is ready to lure traders everywhere. From social media adverts and direct messaging but also referral programs. All this combined brings them quite a nice number of newbies. Once they deposit their first money, the ride starts. They can present you with anything they want. But if you are not into the trading world you can bite any story.
But once those same traders somehow manage to make some money, they can’t get it out. Because everything is fictive. The only thing the broker always wanted is to extract everything from you. These guys will hunt traders relentlessly. In the end, once they see there is no worth of you, they will try to extort the last money out of you. With non-existent withdrawal fees. Don’t fall for it.
Luckily, it’s not late to get your money back. Our specialized fund recovery team can advise you on your next move. Also, the availability of CipherTrace with us makes tracking crypto transfers way easier. Book your first consultation already today!
Silver Stock Summary
Silver Stock scam broker is one of those where you can’t find even one positive thing. They are completely anonymous and misleading brokerages. On top of that, they are not licensed and don’t provide trusted trading software.
Without a fully transparent withdrawal policy, it’s not surprising that many traders had bad experiences. Not to mention missing funds security measures. To avoid any headaches, get in touch with our expert team. The first consultation is free of charge.
FAQs About Silver Stock Broker
Is Silver Stock Broker Regulated?
No. Registers of many trusted regulators are empty upon a search for this broker.
Is My Money Safe with Silver Stock?
No. Without regulation, they can’t provide any funds security measures that are reliable.
Does Silver Stock Offer a Demo Account?
No. Silver Stock broker offer only consists of live accounts with risky conditions.