Stockoza Review: Extraordinary Trading Conditions or a SCAM?

How often do you hear about extraordinary trading conditions and a broker who is willing to provide them for you? Today, we will talk about another one — Stockoza. In this review, we will answer the most important questions that may arise when choosing a trading partner. Is it worth opening an account with them? Will your money be safe there? What can this company offer?

Stockoza General Information

Registration and Client Portal Review

At first glance, the official Stockoza website doesn’t stand out with anything original. The background is simple, white, with a few colorful inserts. However, the vibrant illustration of stocks shaped like balloons grabs attention and subtly hints that this is indeed a broker’s site, and we are here to make money on different markets. There are some inconveniences as well. In particular, we didn’t like that it is impossible to use the right mouse button on the platform, so opening any links in a new tab doesn’t work. Additionally, from our perspective, there is very little information here about the company itself, its history, founders, employees, and other important aspects. We do not know about you, but for us, it is important that the brokerage behaves transparently with prospective clients from the beginning.

Registration on the Stockoza platform looks very strange. Or rather, at first glance, you will find it familiar. It is presented in the usual form. You need to fill it out with your details. As always, you should provide your first and last name, phone number, email, and important details such as your address and date of birth. It is necessary for the broker to determine if you are of legal age and not residing in a country where it does not provide services.

It is assumed that after filling out the form, you will gain access to your account. However, not in this case. For some reason, the company restricts registration. Perhaps you will need a promo code. Alternatively, Stockoza may simply not want users to independently gain access to the platform and so it contacts potential clients directly. We suggest seeking clarification from the management team.

Thus, the Client Portal remains inaccessible for us. Of course, it is a huge drawback for the broker that we immediately consider. You see, it is not normal for registration to be so closed off, as is usually the case. All reliable and licensed brokers, by contrast, simplify the process. The reason why Stockoza requires you to take some additional steps remains a mystery.

Trading Conditions

Let’s see what the company really has to offer that might be interesting. Will trading with them really be comfortable?

Account Types Review

So, Stockoza divides accounts based on the size of the minimum deposit and additional services. It’s a common practice among brokers. It is believed that in this way, traders can choose an account to their liking. However, in reality, dishonest brokers pursue the opportunity to enrich themselves as much as possible. If you carefully look at these types of accounts, it becomes obvious that the larger the number of services they offer, the higher the deposit they require. And these services are often completely useless.

For example, Stockoza requires a minimum deposit of $10,000, but they only offer a personal manager and floating spreads. It is the absolute minimum. And they won’t even offer you a demo account to avoid risking your own money. As for the other types of accounts, the Intermediate account requires an initial deposit of $50,000 and the only additional service is premium signals. The Advanced account requires $100,000 in return for traders receiving these signals daily rather than on a random basis. Generally, the most privileges are available to the owners of VIP accounts, which is the only type offering Real-Time Market Updates to traders.

The question arises: are the quotes not real-time for all other account types? Then, on what quotes do clients trade? Are they yesterday’s quotes? In general, there seems to be something strange going on with the different account types. You should think carefully about whether you really want to trade under these conditions, as there are dozens of other brokers that offer more favorable terms, unlike Stockoza.

Trading Platform

You are offered a trading platform that, according to legend, should meet all your needs. In reality, you won’t be able to see what software is available until you register an account. Moreover, there are no links to download the terminal on the website. You also can’t download any trading platforms from well-known stores like Stockoza. Therefore, the picture is quite unclear.

Additionally, the broker does not talk about who actually contributed to the development of its software. Is it personally developed? How was the software tested? Are there any certifications and licenses confirming its safety and that the quotes within it cannot be manipulated? These are the main questions you need to answer before depositing your money and using a trading platform.

Stockoza — Deposit and Withdrawal of Funds

The broker offers you to fund an account using common methods such as Visa, Mastercard, Skrill and Neteller. According to the FAQ, there are some additional methods for depositing and withdrawing funds. The project’s support team is more knowledgeable about their availability, but it is assumed that all of the aforementioned methods are available for withdrawal, although the company avoids addressing the issue by simply stating that you can apply for a withdrawal in your personal account as well. The commission will depend on the payment method used. And the time it takes for funds to be credited to your account may vary. Stockoza does not provide information regarding the speed of processing withdrawal requests.

Verification

As we have already seen, the broker appears rather dubious. If you attempt to contact the managers to inquire about the reasons for registration difficulties, they will abruptly request your personal data. Verification is mandatory and involves providing copies of identity documents, such as a national government ID or driver’s license. Your residential address can be confirmed through a bank statement or a standard utility bill.

Unfortunately, the Stockoza team does not provide a specific timeframe for the document verification process. It is important to consider whether it is prudent to share sensitive information with third parties, especially when the broker operates in such a secretive manner.

Additional Options

The additional services offered here are indeed quite diverse. Notably, analytics and education receive significant attention. As a client, you can take advantage of services such as one-on-one consultations, private trading sessions, and even video calls and webinars. However, it’s essential to note that most of these services are only available if you open a premium account. If you trade on a standard or slightly higher-level account, your access to these services will be limited. While this approach may not seem entirely fair, it aligns with the broker’s strategy of skillfully selling its additional services at an inflated price.

Is Stockoza a Scam?

Of course, the trading conditions on the platform still need improvement. Meanwhile, let’s review another important consideration you should make before choosing a broker.

Legal Information and License

The official website of Stockoza states that it operates in accordance with the laws of Saint Vincent and the Grenadines. You can easily verify all statements through their registry, where the legal entity can be found using the company number.

However, this raises a concern. The broker is registered in a controversial offshore zone where the local regulator does not issue licenses to online projects. At most, they may receive a certificate of incorporation.

Consequently, Stockoza lacks a license for brokerage services. This means that your funds will not be adequately protected on the trading platform. Consider whether you are willing to travel to this offshore zone and pursue legal action in case of issues, without any guarantee of success.

Stockoza.com Domain Info

Regarding the domain, the broker seems to be promising. The Whois service shows that it was registered in 2020, indicating the company has been operating in the market for some time. Thus, it is definitely not a newcomer. It can be seen as a positive aspect amid ‌other concerns.

Contacts Review

If you need to contact the project’s support team, you can use the provided phone number, email address, or convenient online chat widget located on the official website. However, there is no physical address for an offshore office, so you cannot expect to meet with them in person.

Pros and Cons

3.4 TOTAL SCORE

Stockoza Summary

It appears that this is a typical offshore broker. Whether you decide to open an account on such a trading platform is ultimately your choice. However, keep in mind that having the oversight of a regulatory body would significantly simplify your experience. In the absence of regulation, it becomes much harder to predict if you will be able to protect your money and make a profit.

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Website information content 4

Client Portal 2

Trading conditions 3

Trading platform 3

Deposit and withdrawal 4

Verification 4

Extra options 4

Licenses and guarantees 2

Work duration 4

Feedback 4

Frequently Asked Questions (FAQ)