StateHills Review: Discover Why You Should Avoid This Broker
StateHills has supposedly been in the online trading world since 2005. That’s what the site says about the date the company was established.
A successful broker, what StateHills claims to be, must leave some mark on the foreign exchange market for 17 years. With such experience, you’d expect them to be the right broker to choose. However, the truth behind this image is not at all pleasant.
StateHills is actually an unregulated scam. They have nothing to do with serving thousands of clients and advising them to build business plans and the best trading strategies that meet their financial goals.
Our StateHills review is a presentation of our in-depth research on the subject. Read on to find out everything about this sophisticated scamming scheme.
StateHills Regulation and Funds Security
StateHills can teach us something valuable. That is not to trust first impressions and how things seem. The site explains how StateHills is a stable business with a long history of providing exceptional financial services.
However, the site owner did not bother to explain what regulations and licenses they have. Otherwise, StateHills seems completely illegal and unauthorized to offer financial products and transactions. The lack of transparency here is alarming. We can’t find out from the site what the owning company is, their location, or anything else.
No transparency from StateHills left us no choice but to do our own research. That’s why we did thorough research and went through many commercial registers of regulated brokers. FCA, CySEC, ASIC, IIROC, NFA, FINMA, CySEC, or BaFin, none of them has registered StateHills as a legal business.
To obtain a license from any top-tier regulator, brokerage firms pass a thorough scan, invest a hefty amount of money, and implement all regulatory standards.
The mandatory legal framework is protecting customers and preventing money laundering. It forces brokers to report all transactions. Jurisdictional regulators make sure all clients’ investments are stored in segregated bank accounts so companies can’t misuse them.
Furthermore, risk-reducing measures (leverage cap and negative balance protection) have to be present to lower the risk of unexpected loss.
StateHills is far from what a regulated broker can provide. They do not have a license to confirm their legitimacy. Neither can they provide the protective measures described.
Trading Platform Supported Overview
A quick registration process enables access to the trading area. The only software solution offered is a plain web trader with basic functionality.
This might be a creative suggestion for beginner traders to grasp the basics of online trading. Advanced and intermediate investors will nonetheless be disappointed with the offer. StateHills trading software doesn’t have the latest features and options that premium platforms like MT4 and MT5 include.
Trading on platforms provided by unregulated brokers bears an indescribable risk. Legal rules don’t apply to scammers, so they can manipulate the conditions and alter the platform so it works in their favor.
Funding Methods Available at StateHills
It hardly feels surprising that the only method of depositing at StateHills is via cryptocurrencies. Every scammer’s favorite way of making illegal transactions is while staying anonymous. Avoiding legal consequences while managing to manipulate money transactions is what every cheater’s goal is.
If that isn’t a major red flag, let us tell you more. While the minimum deposit required to join a live account is only $250, the pricing of other account types will make your jaw drop. Apparently, the Premium account is unlocked by depositing from 200,000$ to 499,999$, which is beyond insane.
Legal documents explaining how withdrawals work and the fees that follow are missing. There was nothing concrete about the entire transaction process and processing time. StateHills site remains completely uninformative considering this aspect.
As our StateHills review has shown, this broker is an unregulated active online scam. The decent-looking website could even deceive inexperienced traders. That is if it wasn’t for the unacceptable conditions, prices, and lack of regulation and legal documents.
After checking the databases of many regulators, we have concluded that StateHills doesn’t own a license. Entire brokerage activity that takes place on this website is illegal.
Beware of investing with frauds like StateHills. Our review clearly points out the inconsistencies and potential risks, so use that to your advantage and enjoy trading safely.
FAQs About StateHills Broker
What Is The Minimum Deposit at StateHills?
The minimum amount you have to deposit to be able to open a trading account at StateHills is $250.
Does StateHills Offer a Demo Account?
No, trading during a trial period isn’t available at StateHills. You have to invest and open a live trading account.
What Instruments Can I Trade with StateHills?
Forex, commodities, indices, and crypto are the tradable asset groups available at StateHills.