What is Stockscptls？
Stockscptls, a Cyprus-based broker, offers a diverse array of financial instruments, including forex, indices, commodities, stocks anc cryptos. However, it's important to note that Stockscptls is currently registered in Cyprus and operates without regulatory oversight, which raises great concerns about its credibility and compliance to industry standard.
In the upcoming article, we will comprehensively analyze this broker's attributes from various angles, delivering clear and well-organized information. If you find this topic intriguing, we encourage you to continue reading. At the conclusion of the article, we will provide a concise summary to offer you a quick grasp of the broker's key features.
Pros & Cons
Stockscptls boasts a diverse array of market instruments including forex, indices, commodities, stocks anc cryptos, offering traders ample opportunities for diversification and profit potential.
However, its lack of regulation raises concerns about investor protection. Limited customer support channels by address only and information on crucial aspects like account details and fees lead to frustration and hinder informed decision-making. Moreover, the broker charges overnight fees, which adds trading costs for customer. Additionally, issues like invalid download links for trading platforms and restricted access for clients from certain countries such as United States, Japan, Iran, France, Turkey further detract from the overall trading experience.
Is Stockscptls Legit or a Scam？
When considering the safety of a brokerage like Stockscptls or any other platform, it's important to conduct thorough research and consider various factors.
User feedback: To get a deeper understanding of the brokerage, it is suggested that traders explore reviews and feedback from existing clients. These shared insights and experiences from users can be accessed on reputable websites and discussion platforms.
Security measures: Stockscptls prioritizes user privacy with a comprehensive privacy policy outlining data handling practices to protect user security.
Ultimately, the choice to trade with Stockscptls is a personal decision. It is important to thoroughly assess the risks and benefits before arriving at a conclusion.
Market Instruments
Stockscptls offers a comprehensive range of market instruments across various categories, catering to the diverse needs of traders.
In the forex market, traders can choose from over 50 currency pairs, including majors, minors, and exotics, providing ample opportunities to capitalize on global currency fluctuations. The forex market, being the largest and most liquid in the world, offers unparalleled trading volume and volatility.
For those interested in stock trading, Stockscptls provides access to a wide selection of global stocks through CFD trading. With hundreds of stock CFDs available, traders can take positions on their favorite companies and gain exposure to international stock markets.
Traders looking to diversify their portfolios can explore commodity futures trading with Stockscptls. From precious metals like gold and silver to soft commodities like cotton and coffee, traders can go long or short on various commodities using CFDs, allowing for flexibility and risk management.
Equity indices trading is also available, enabling traders to speculate on the movement of 15 major stock markets worldwide. Leveraged trading opportunities in equity indices provide potential for enhanced returns, making it an attractive option for traders seeking exposure to broader market trends.
Furthermore, Stockscptls offers cryptocurrency trading, allowing traders to buy and sell CFDs on 17 popular cryptocurrencies. By staying ahead of technology and currency market trends, traders can capitalize on the growing popularity and volatility of digital assets.
How to Open an Account？
To open an account with Stockscptls, you have to follow below steps:
Complete any verification process for security purposes.
Once your account has been approved, you can set up your investment preferences and start trading.
Trading Platforms
Stockscptls advertises access to MetaTrader 5 (MT5) and MetaTrader 4 (MT4) platforms via web, iOS, Android, and Windows devices; however, when we click the download links, it led to error page with nothing. Traders encountering this issue are advised to seek clarification directly from Stockscptls regarding the availability of the platforms and alternative methods for accessing them. It's crucial for traders to ensure they have access to reliable and functional trading platforms to execute trades effectively.
Deposit & Withdrawals
Stockscptls offers multiple convenient funding methods for its users, including credit/debit card, e-wallets, and bank transfer. Traders can deposit funds without incurring any deposit fees, and the deposits are processed instantly, allowing for swift access to trading opportunities.
When it comes to withdrawals, Stockscptls does not charge any withdrawal fees, and withdrawals are typically processed within 1-3 business days. However, it's important to note that there is a minimum withdrawal amount of 50 units.
Fees
Stockscptls imposes various fees across different categories.
Firstly is overnight fees which also called swaps. The fees are charged or earned for positions held overnight, based on the interest rates of the currencies involved or the assets being traded. Stockscptls automatically performs the rollover process every night at GMT + 3, crediting or debiting trading accounts accordingly.
The calculation of rollover fees can be based on points per lot, interest percentages, or money in margin currency, depending on the trader's preference:
Rollover Fee (in quote currency) per day = Number of Lots * Contract Size * Long or Short Points (for the given day) * Point Size
Rollover Fee (in quote currency) per day = Lots * Contract Size * Closing Price (at the end of the given day) * Interest /100 /360
Rollover Fee (in margin currency) per day = Lots * Long or Short charge in Margin Currency (for the given day)
Additionally, triple swaps occur on specific days to account for weekends when the market is closed.
Furthermore, dormant accounts, inactive for over a year, face a monthly administration fee of 10 units of the account currency.
Internal fund transfers between accounts of different currencies incur a 0.5% charge. Currency conversion fees apply to realized profits and losses in non-base currencies.
Additional charges will be levied based on deposit/withdrawal methods and for investigation into chargeback requests or delayed deposits.
Customer Service
Stockscptls' limited customer support, offering only an address for contact, can hinder timely assistance for traders. Lack of alternative communication channels like phone or email could result in delays in resolving issues or obtaining assistance, impacting the trading experience negatively, interested traders should take this into account .
Registered office: 25 DEMONSTHENI SEVERI AVENUE, Town: 1080 NICOSIA, State: CYPRUS.
Conclusion
Stockscptls, a broker based in Cyprus, offers a variety of market instruments including Forex, indices, CFDs, stocks, cryptos and commodities. However, its unregulated status and negative reports on platforms like WikiFX, raise concerns for investors.
Therefore, if you are considering Stockscptls, you should be at utmost caution and do you own research before committing actual tradings, and explore regulated alternatives that prioritize transparency, security, and client protection.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
