What is STEP MARKETS？
STEP MARKETS LLC, founded in 2023 and based in Montenegro, is a trading company with no formal regulation. Given its lack of regulatory oversight, potential investors should be aware of the potential risks and conduct their own research.
Pros & Cons
Pros
Strict Regional Restrictions: This limitation means that STEP MARKETS has specific measures in place that can enhance the security of its platform by limiting its service in potentially risky areas such as Canada, Israel, New Zealand, North Korea, Turkey, Singapore, Indonesia, Iran, and the United States of America.
Demo Account Available: STEP MARKETS provides a demo account that allows users to test and understand the platform without risking real money.
Cons
New in Market: As a relatively new broker, established in 2023, STEP MARKETS can not be as experienced as other brokers.
Non-regulated: STEP MARKETS does not hold any regulatory license, highlighting a potential risk for traders as the broker is not obligated to follow any regulations set by financial authorities.
Lack of Info on Key Trading Conditions: Important information such as leverage, spread, commission, and minimum deposit which are essential to traders for making informed decisions are not clearly listed or available.
Is STEP MARKETS Safe or Scam？
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
Market Instruments
Currency Pairs: This allows traders to speculate on the price movements of various currency pairs within the global Forex market.
CFDs: Contract for Difference (CFD) is another type of derivative product that STEP MARKETS offers. With this, traders can speculate on the rise and fall of fast-moving global financial markets such as shares, indices, commodities, currencies, and bonds.
Stocks: STEP MARKETS provides access to global stock markets for its users, enabling them to invest in shares of numerous companies.
Cryptocurrencies: Considering the growing popularity of digital currencies, STEP MARKETS also allows trading in various cryptocurrencies. This allows traders to profit from the volatility in the crypto market.
Regional Restrictions
STEP MARKETS has enforced stringent regional restrictions, which limit its potential user base. It restricts traders from several countries including Canada, Israel, New Zealand, North Korea, Turkey, Singapore, Indonesia, Iran, and the United States of America. These limitations pose a significant constraint in attracting a global clientele. Consequently, investors situated in these specific regions are deprived of the opportunity to utilize STEP MARKETS's trading services.
Customer Support
For any assistance, concerns, or technical issues, customers can contact STEP MARKETS via phone at +380958235970, through email at info@stepmarkets.com, or by filling out a contact form. The company's physical office is located at MEDITERANSKA 59-3, BUDVA, Montenegro, which implies an additional level of reassurance and credibility for the users.
Conclusion
STEP MARKETS is a diverse trading platform offering a range of market instruments and demo accounts. However, its non-regulated status and stringent regional restrictions warrant caution among potential investors. It is still a new broker in the market, so beginner users are suggested to trade with more experienced brokers.
Frequently Asked Questions (FAQs)
Q: Does STEP MARKETS offer a demo account？
A: Yes, STEP MARKETS provides a demo account for users to try out the platform without risking real capital.
Q: Is STEP MARKETS a regulated broker？
A: No, STEP MARKETS is not a regulated broker.
Q: Does STEP MARKETS offer trading on cryptocurrencies？
A: Yes, STEP MARKETS does offer trading on a range of cryptocurrencies.
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.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
