StracoFirm.com is an online broker that markets itself as a leader in online trading. However, despite its impressive marketing materials, StracoFirm.com has failed to earn the trust of traders and financial regulators alike. There have been numerous complaints and warnings about the company’s practices, with many labeling it a scam. In this review, we will examine StracoFirm.com in detail to determine if it is a legitimate trading platform or a scam.
Overview
StracoFirm.com claims to be a forex and CFD broker that offers access to a wide range of trading instruments, including currencies, cryptocurrencies, commodities, indices, and stocks. The broker offers competitive spreads, leverage of up to 1:500, and several account types designed to cater to the needs of different types of traders.
Is StracoFirm.com Regulated?
One of the first things traders should look for when choosing a broker is regulation. Regulated brokers are required to adhere to strict rules and regulations aimed at protecting clients’ funds and ensuring a fair trading environment. Unfortunately, StracoFirm.com is not regulated by any reputable financial authority. The broker is not licensed by the Financial Conduct Authority (FCA) in the UK, the Securities and Exchange Commission (SEC) in the US, or any other regulatory agency.
Warnings from Financial Regulators
The lack of regulation is not the only red flag associated with StracoFirm.com. Several financial regulators have also warned investors to stay away from the broker. The French financial regulator, Autorité des Marchés Financiers (AMF), included StracoFirm.com in its list of unauthorized brokers in 2020. The Belgian financial regulator, Financial Services and Markets Authority (FSMA), also issued a warning against the broker in 2019.
What Currency Pairs Do They Offer?
StracoFirm.com offers a range of currency pairs, including majors, minors, and exotic pairs. However, the broker’s website does not provide any information about the spreads offered on these pairs, which can make it difficult for traders to compare the broker’s pricing with that of other brokers.
Customer Support
Customer support is an essential aspect of any trading platform, as traders may need assistance with various aspects of their accounts or trading. StracoFirm.com offers several contact options, including email, phone, and live chat. However, many traders have complained about the unresponsiveness of the customer support team when they have tried to contact them.
Trading Platform
StracoFirm.com offers the MetaTrader 4 (MT4) trading platform, which is a popular choice among traders due to its advanced charting capabilities and customizable features. However, the broker’s version of MT4 appears to be a rebranded version, with several key features missing, such as the ability to use custom indicators.
What Do Traders Think About StracoFirm.com?
A quick search of online forums and reviews reveals that many traders have had negative experiences with StracoFirm.com. Complaints range from issues with withdrawals to erroneous trades being placed on clients’ accounts. Many traders have also reported that the broker’s customer support representatives are unresponsive and unhelpful.
What To Do If You Get Scammed?
If you believe that you have been scammed by StracoFirm.com or any other online broker, you should take immediate action. The first step is to contact your bank or credit card company to report the fraudulent activity and request a chargeback. You should also file a report with us. We will evaluate your case and will provide you with a free consultation and service recommendations to help you in recovering the lost fund.
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Final Thought
In conclusion, StracoFirm.com appears to be a scam broker that traders should avoid. The broker is not regulated, has been flagged by several financial regulators, and has numerous complaints against it from traders. Traders should always carefully research a broker before depositing funds to avoid falling prey to scams like StracoFirm.com.
