ST Global Markets Review – Truth Behind STGlobal.com

Once you open the ST Global website, you might believe you are working with a regulated and relatable broker. But the truth is, you would be very wrong and very much deceived.

Although they do possess a license and regulation number, they are based in Mauritius which is an offshore location. The biggest downside of such companies is that country regulations are not that strict.

That’s why we have decided to make this ST Global broker review so we can cover all the things that are associated with this company.

Regulation and Funds Safety at ST Global Markets

ST Global Markets Ltd is registered with the Securities Commission of the Bahamas (SCB) and the Financial Securities Commission (FSC) of Mauritius. The previous name of this entity was “The Street Trader”.

Although the entity is in the financial authorities’ databases, that doesn’t mean the ST Global Markets regulation is reliable. That is solely because they are not considered a Tier 1 regulator and don’t hold the same rules as FCA and CONSOB.

All in all, ST Global is an offshore broker company that provides both forex and CFD trading and they offer their services to the clients of UK, US Bahamas and South Africa.

And in order to be able to provide services to the clients of the UK, they need to hold an FCA license which they don’t and that makes them unreliable. The same goes for the clients of the US. They need to hold a license from CFTC which yet again, they don’t. That’s why it’s best to avoid ST Global and Opendealbroker brokers.

Trading Platform at ST Global Markets

ST Global has promised on their website the offering of the MetaTrader5. This is, without a doubt, one of the best platforms to trade on and we are always happy to see that a broker offers it.

But, after we tried to test out the platform, the broker didn’t provide us with the details necessary to log in before we had verified our account. Thai leads us to believe that they don’t actually have an MT5 trading platform.

Besides MetaTrader5, the ST Global broker also offers DAS, Tokion and Sterling Trader Pro trading platforms. Nonetheless, they are still unregulated offshore brokerage and trading with them will just result in loss. 

ST Global Markets Account Type Available

ST Global has three different account types and those include the following ones: 

• STG Classic – $100
• Zero – $2,500
• VIP – $10,000

As you can see, the minimum deposit is set to $100 but in comparison to brokers regulated by Tier 1 regulatory bodies who will ask you for as little as $5, this is just outrageous. We didn’t find a demo account option on ST Global Markets’ website. But, on one of the platform pages, the broker put a “request demo” option. Clients should be able to open a demo account without requesting permission. That wasn’t a cool move from ST Global Markets.

Deposits and Withdrawals

ST Global offers two deposit methods and those include: 

• Visa or Master credit or debit card
• Wire transfers 

The minimum deposit has been set at $50 and that is for the credit/debit cards and the minimum deposit for wire transfers is set at $1,000. 

As for the fees this broker requires, bear in mind that the 3.5% fee upon Visa/Mastercard payment is too much and it’s almost twice higher than usual. In fact most reputable brokers tend to cover these types of deposit fees. As for the withdrawals, there is nothing specified anywhere on their website.

How the Scam Is Carried Out

It’s no surprise that this offshore broker operates in the exact manner as many others, including Bitky, do. Usually, they will call anyone who left important personal details on the internet and try to persuade them into making a deposit. There will of course be many stories promising unrealistic investment returns just to get you to invest. That’s why they promise this unrealistic 1:500 leverage. 

If they succeed in this and you make your first deposit, they will then call you all the time and ask you to put in more money in order to also make more profit. These agents are trained professionals and will do anything in their power to get you to invest.

Do not believe everything they will tell you and take some time to educate yourself about investing and trading conditions. 

ST Global Markets Summary

In this ST Global Markets review, we tried to warn you about this offshore-based broker that is regulated but only by offshore regulatory bodies. We mentioned many times that it is much easier to get regulated by these regulatory bodies as they do not do a proper job with overseeing the forex trading firms. 

Due to this, we always advise you to work with a company that has a regulation by one of the Tier1 regulators such as FCA, CNMV or BaFin. This will ensure that your personal data and your funds are completely safe. 

As for the leverage, it is just too high and a good broker would never offer 1:500 for any of their trading accounts.

Lastly, in case you had any negative experience with this or any other fraudulent broker, we would greatly appreciate it if you could share it with us as we can assist you by reporting your scammer.

FAQs About ST Global Markets Broker