Thinking of getting into business with Status Markets? Here is what you must know about this broker. Carefully read this review to find out if statusmarkets.com is the trading platform you will want to trade with.
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About Status Markets Broker
Status Market is an offshore brokerage company with a lot of promises for traders. Here, the broker presents us with an address — Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands, MH 96960 .
Status Markets claims to provide 24/7 trader’s support, zero commission and highest verified security.
The broker offers different account types such as Silver, Gold and Platinum.
In spite the trading instruments Status Markets claims to offer, traders must know they are dealing with an unknown broker whose regulation claim is false.
statusmarkets.com: Reasons to Avoid This Broker
statusmarkets.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit as Financial Conduct Authority (FCA) does not recognize Status Markets.
Another red flag we noticed on statusmarkets.com is that there is no demo account for traders. If traders can’t test the broker on a free account, how then can we know its viability in the forex market.
Since this broker does not offer money back guarantee, trading on Status Markets is clearly a risk. This is a con for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
Status Markets presents us with the following information. See below.
Minimum Deposit
The minimum deposit of Status Markets is not indicated on the platform. However, the payment methods are Debit/Credit card and Wire transfer. You should not consider making any payment with this broker in the first place because it is a risk. So beware!
Status Markets Platform
Status Markets offers MT4 and a web based trading software.
The broker does not have a recommended leverage as it changes. We advise you don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
In spite the attractive offers Status Markets broker presents, we can’t find a free account for traders to test the platform before considering a deposit.
Status Markets Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under FCA regulation that means your money is at risk. Its licensed and regulation claims are false and must be avoided.
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Conclusion: Is statusmarkets.com a Reliable Broker?
statusmarkets.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
The broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we do not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.