BrokersStation Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this BrokersStation Review.
BrokersStation has four main types of forex live trading accounts, with one of them – Conservative – also offering access to trading in binary options. There is also a dedicated binary options account, called “Trial” with a starting deposit of $250. The broker also offers a free demo account.
BrokersStation’s asset portfolio consists of over 250 instruments, including forex, spot metals CFDs on indices and commodities and binary options.
The company. Security of funds
Company Country Regulation
International Securities Limited Vanuatu VFSC
BrokersStation is owned and operated by International Securities Limited, based and regulated in the offshore zone Vanuatu. It claims to have an office in London, but this is beside the point, as it is not regulated by UK’s FCA. On the contrary, it has some flimsy license from an offshore regulator known for its lax approach to requirements and oversight, despite its pledges to tighten them up.
We are not saying that BrokerStation is necessarily a scam, but Vanuatu and the likes are known as the preferred destinations by dishonest companies whose only goal is to steal people’s money. This is why dealing with offshore brokers is far riskier than with properly regulated companies, like the ones overseen by the UK’s FCA or the Australian Securities and Investment Commission (ASIC).
BrokersStation notes it does not accept clients from the US, as it is not regulated by neither of the local wathcdogs. The company, however, provides a phone number in Canada. To our best knowledge, the broker is not regulated by neither of Canada’s provincial regulators, as required by local legislation, which means it is in reality not allowed to target Canadians either.
BrokersStation offers the most popular trading platform for forex trading – MetaTrader 4 (MT4). MT4 is the most frequently offered trading platform and is popular both among brokers and traders. It is stable and reliable, has many functions, offers API connectivity, supports PAMM and MAMM functionality and has a wide selection of technical analysis and charting tools. It is also user-friendly and supports Expert Advisors and automated trading.
BrokersStation has a fairly unorthodox approach to forex bonuses. On its site it advertises a raffle with a Nissan GTR sports car as a prize for those who deposit at least $1000 and enter their name in the draw.
Like most forex brokers BrokersStation provides several different payment methods. Clients can make deposits through bank transfer, credit and debit cards and the online payment systems Neteller, Skrill and Sofort.
BrokersStation is one of the hundreds of offshore forex brokers seeking a place under the sun. Like most offshore brokers, it also has rather high deposit requirements, which could bee off-putting for many potential clients. Its spreads are not very special either, nor is the leverage, although the 1:1000 could sound attractive to someone. One must not forget, however, that such high leverage often means huge losses in just one or a few trades – the European regulators are seeking to limit the leverage on some instruments for a reason.
The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
BrokersStation Review Conclusion
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