FXStone Financial is an American broker offering margin CFD trading with a leverage ratio of 1:1000. What is more shocking? The fact that they claim to be U.S.-based while offering such high-leverage CFD trading or the supposed 1:1000 leverage ratio they promote? Both aspects are equally baffling because not even in the wildest dreams of the scammers who set up such a fraudulent firm would this be possible. The company lacks a proper license, fails to indicate its period of operation, and is missing key legal documentation. Additionally, you can find positive online reviews about them, which seem fabricated. Let’s delve into another fraudulent organization and examine its red flags in detail.
Table of Contents
Highlights
| 🏛️ Country | USA |
| ⚠️ Regulation | – |
| 🖥️ Website | https://stonesolutiontech.com/, https://stonesolutionstech.com/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2023 |
| 💲 Minimum Deposit | $250 |
| ⚖️ Minimum and Maximum Leverage | 1:100-1:1000 |
| ⚙️ Trading Platform | WebTrader |
| https://support@stonesolutionstech.com/ | |
| 📞 Phone | + 1 (312) 987 5391 |
First Impression of Stonesolutionstech.com
The official website is glaringly devoid of any elements of professionalism, aesthetics, or quality design. It’s a basic and standard website, much like those typically associated with brokerage firms. The upper part of the site contains standard sections such as types of accounts, trading platforms, and company information. However, the homepage is cluttered with irrelevant and uninformative content. It also lacks any unique graphics or design elements that could potentially make it stand out. Moreover, in the lower section of the website, the links are unclickable, forcing users to navigate via the links in the upper section to access information on trading conditions.
Apart from English, the website of FXStone Financial also offers versions in Russian, Spanish, German, and Polish. However, it’s apparent that little effort was put into these translations; they seem hastily and cheaply done. While the English version appears to be complete, the other languages seem to be left halfway done. What’s the point of offering multiple languages if key documents like the user agreement are only available in English? The site suffers from layout issues, with text overlapping and a generally disorganized appearance. In addition, the information provided in the translated versions doesn’t match the English version. The text extends beyond the top bar of the page and is crooked, for some reason, the leverage is 1:10,000. This page is definitely not completed.
In short, what we have here is a template website that was hastily made. While it lacks any unique features, it’s full of clichéd phrases and unsubstantiated claims of benefits. FXStone Financial describes itself as the ideal trading platform, yet fails to offer any concrete evidence to back up these assertions.
Partnership and Bonuses
The affiliate program most likely doesn’t exist, as there is no mention of it, or anything similar, on the website. Likewise, bonuses are not discussed openly. However, the user agreement does include a section about bonuses, suggesting that the broker does offer such promotions to clients, whether openly disclosed or not.
It’s crucial to understand that bonus funds are not freely provided by FXStone Financial; they come with specific conditions. Clients are required to trade a minimum volume equivalent to the bonus amount divided by four to withdraw these bonus funds. For instance, if a trader deposits $500 and receives an additional $500 as a bonus, they must trade a volume of 125 lots ($500 divided by 4) within a time frame of 60 days. Failing to meet this condition within two months results in the forfeiture of both the bonus and any profits gained from it.
The bonus terms at FXStone Financial are neither beneficial nor reasonable, making it unlikely even for experienced clients to meet the requirements. This is exactly what fraudulent companies count on. They initially attract traders through enticing promotions, and when traders attempt to meet the stringent conditions, they often make mistakes and end up losing money.
Account Opening on Stonesolutionstech.com
Any 18-year-old trader and older can open an account with the broker. However, for unspecified reasons, it’s currently not possible to register an account. Clicking the “start trading” button redirects users to a login page rather than a registration form. It begs the question: How can one create a brokerage account if the registration form is missing? Additionally, the firm doesn’t seem to offer a demo account, as there is no information or mention of it.
Verification
Trading with FXStone Financial is not possible without completing the KYC process. Users can upload photos or scans either through their dashboard or by sending them via email. Notably, the broker requires submitting verification documents even before you make your initial deposit. Required documents:
- A copy of your valid passport with the signature page.
- Copies of your credit cards used to deposit (Front side with only the first 6 and the last 4 digits visible, back side with the CVV covered).
- A copy of a recent utility bill in your name and address.
- None.
- Requires you to take a picture of your bank card.
Trading Software
Since account creation with FXStone Financial is currently unavailable, it’s impossible to practically assess the broker’s trading platform, its visual design, features, and functionalities. While you can rely on the information provided on their website, it’s strongly advised against. Brokerage companies often make claims that don’t align with reality.
The broker offers its trading platform exclusively as a web-based version. The company markets its software as both user-friendly and advanced, with stated benefits including real-time market data such as news, trends, and price movements, as well as an auto trading bot, and signals from seasoned traders. However, the platform’s description is notably sparse. Furthermore, the website lacks clarity on the availability of a mobile trading terminal; although a screenshot is present, no details are provided. Likely, a mobile app doesn’t exist, but the platform seems to be optimized for smartphone use. Information about the availability of technical analysis tools, indicators, and other functionalities is also absent.
Trading platforms like the one offered by FXStone Financial are frequently constrained regarding features and benefits. Introducing an alternative, such as the widely-used MetaTrader, would solve this problem. Traders who are content with the basic web-based platform could continue to use it, whereas those looking for more comprehensive tools could opt for MetaTrader or other more feature-rich software.
| Features | FXStone Financial | ModMount Ltd | CauvoCapital |
|---|---|---|---|
| Demo Account | ❌ | ✔️ | ❌ |
| Mobile App | ❌ | ❌ | ✔️ |
| Own Development | ❌ | ✔️ | ❌ |
How Can I Trade With FXStone Financial?
The broker provides access to an extensive range of over 1,000 trading assets, including forex, metals, indices, commodities, cryptocurrencies, and stocks. However, it’s worth noting that the firm solely offers CFD trading; futures contracts and spot markets are not available. The type of account determines the minimum deposit requirement and the availability of additional features you choose to open.
All Info About Accounts
FXStone Financial offers a tiered account structure with three distinct plans. The entry-level “Bronze” account, which starts at a minimum deposit of $250, provides features such as leverage up to 1:100, advanced charts, negative balance protection, and access to an education center. The “Gold” account requires a minimum deposit of $1,000 and offers leverage up to 1:500, with the unique addition of a personal account manager. The top-tier “VIP” account necessitates a substantial minimum deposit of $20,000 and comes with a range of premium features, including leverage up to 1:1000, exclusive webinars, private events, and a personalized business plan.
FXStone Financial adopts a principle commonly seen among questionable and fraudulent firms, which can be summed up as: “Pay more for better conditions and additional services.” At the same time, the size of the minimum deposit is significantly overstated. It is a considerably high entry point, especially when compared to established and reputable firms in the industry that often set their minimum deposits as low as $1 to $10.
Moreover, the platform leaves much to be desired when regarding explaining its services. What specific topics are discussed in their “exclusive webinars”? What can one expect from a “dedicated account manager,” and how do they demonstrate their claimed expertise? It also seems strange to gradually increase leverage. Why would a client with a capital of $20,000 or more require a staggering leverage ratio of 1:1000? Such high leverage is generally more suited for traders with smaller accounts, as you might expect on the broker’s basic plan. FXStone Financial has turned everything upside down.
Furthermore, FXStone Financial is missing key features commonly found in other brokers: there’s no demo account, no Islamic account option, no cent account, and no ECN support. Moreover, vital trading details like spread sizes and types, as well as commissions and swap rates, are conspicuously absent from their service descriptions.
- None.
- High minimum deposit of $250.
- No such features as demo, Islamic account, and cent tariff.
- Inadequate terms and conditions. Most of the important parameters are hidden.
Market Analysis and Education With Stonesolutionstech.com
While FXStone Financial provides an extensive library of over 500 articles on Forex and trading, they curiously lack any analytical services. Most brokers provide fundamental features like an economic calendar, news feed, and trading position calculators – basic tools that managers have opted not to include. They claim to offer trading signals and an automatic trading bot, but these services are shrouded in secrecy, lacking clear terms or any trade statistics for transparency.
Deposit, Withdrawal, and Fees
A special section dedicated to transactions has not been created on the company’s website. Withdrawals are only permitted after completing a Know Your Customer process. Based on scattered information, FXStone Financial seems to accept credit and debit cards, with a minimum withdrawal limit of $50. It takes up to three business days to process a withdrawal request, and inexplicably, they fail to mention any fees or other available methods for fund transfers.
| Features | FXStone Financial | Fusion Markets | Crypto Comeback Pro |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ❌ |
| Electronic Payments | ❌ | ✔️ | ❌ |
| Crypto Transfers | ❌ | ✔️ | ❌ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ✔️ | ❌ |
How Can I Contact It?
You can contact the managers by email and phone. A check for mass and fake contacts showed nothing. However, the broker conspicuously lacks social media accounts and a live chat feature, both of which are typically standard for online brokers seeking transparent and efficient communication with clients.
Additionally, the contact information for the Chicago office is incomplete, listing only the country, city, and street, without any specific building or office number. It would not be difficult for FXStone Financial to randomly pick a location on a map and provide that address in their contact information.
- None.
- The legal address is partially indicated.
- Social networks and online chat are absent.
Is FXStone Financial Dangerous?
A broker with headquarters in the United States offering margin trading with a leverage of 1:1000? CFD trading is illegal under U.S. regulations, which suggests that the company couldn’t even have been established there, or it operates illegally. Also, the trading conditions clearly hint that this is a typical scam aimed at extorting money. An examination of the company’s operational history and licensing details will likely confirm suspicions about FXStone Financial’s deceptive practices.
How Long Does The Broker Work?
The absence of a founding date on the broker’s official website didn’t surprise us, this is typical behavior for fraudulent organizations. Scam organizations act in this manner; after all, what scammer would specify an operational period of only a few months? FXStone Financial came into existence in August 2023, and this is corroborated by the date of the domain registration.
It’s worth noting that online reviews about FXStone Financial have only started appearing recently. And there are not as many as one would like to see. The absence of online mentions, coupled with a lack of popularity or recognition, are all strong indicators of a limited operational history. What’s more, the firm has failed to provide any registration documents that would disclose the platform’s establishment date.
August 2, 2024 has not yet occurred; today is only July 3, 2024. Nevertheless, the scammers have already changed their domain to stonesolutionstech.com, elegantly adding only 1 letter s to the URL.
How Is FXStone Financial Regulated?
So we’re looking at a supposed American broker. However, several red flags immediately stand out: deposit bonuses, leverage ratios ranging from 1:100 to 1:1000, and CFD trading are all practices that don’t align with the regulations for legally operating intermediaries in the United States. U.S. regulators like FINRA, SEC, NFA, and CFTC impose strict restrictions on brokerage firms and are quick to shut down non-compliant entities. With this in mind, it’s safe to say that the Chicago address provided is likely fictitious.
The absence of any records about the firm with any of the aforementioned regulatory agencies further corroborates its suspicion. The takeaway here is clear: FXStone Financial is operating without any recognizable oversight or licensure, and its true place of registration is known only to those behind this dubious firm.
| Features | FXStone Financial | Vantage | Ai Global Group |
|---|---|---|---|
| European Zone | ❌ | ✔️ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ✔️ | ❌ |
Frequently Asked Questions (FAQ)
How to Trade With FXStone Financial?
Is FXStone Financial Legit?
How Risky Is It?
Kevin Berry An American broker offering a 1:1000 leverage? You’ve got to be kidding. Do these fraudsters actually believe that someone will fall for such a blatantly deceptive ploy? The project displays a legal address that could never be valid, especially in a country like the United States where CFDs and leverage ratios exceeding 1:100 are strictly prohibited. I wonder what the catch is with this scam? The company clearly appears to be a fake, and they haven’t even enabled registration on their platform. How are they tricking people out of their money? Are they actively seeking out potential victims themselves? The question remains unanswered. Regardless, steer clear of FXStone Financial. Engaging with this nefarious firm is a guaranteed way to lose any investments you might be tempted to make.
FXStone Financial rating
6 reviews about FXStone Financial
Don’t trust these crooks and scammers – they’re out to steal your money! It is yet another fake project by anonymous criminals, who are plundering people’s finances under the pretense of offering a legitimate brokerage platform. Beware: it is a FAKE, a FRAUD, and a SCAM!
Firstly, why is there no license mentioned? Any broker is obliged to obtain a license to operate legally and in accordance with the law. FXStone Financial has no license. Secondly, when was the company founded? Considering the scarcity of reviews on the internet and the fresh domain, it can be assumed that the firm was launched very recently, in August of this year. It is too short a period of operation. I recommend choosing brokers who have been operating for over 10 years.
It’s also impossible not to notice that the organization has only positive reviews on Trustpilot. What does it mean? Scammers and fraudsters buy fake reviews to lure naive and trusting traders who will believe such reviews.
The minimum deposit of $250 is another red flag. Why? Because if you go to the websites of known brokers, you will find minimum deposits as low as $10. Also, FXStone Financial definitely operates without transferring traders’ transactions to interbank liquidity or liquidity providers. That is, it’s a dealing desk. Unfortunately, you can’t trade with a dealing desk because of the conflict of interest.
Thank God that FXStone Financial doesn’t allow the opportunity to register an account. I have a friend who started learning about forex trading. Somehow, he found this brokerage dumpster, read the nonsense written on the scambroker website, and thought: “Why not start trading?” Only he couldn’t register an account. After his unsuccessful attempt, my friend contacted me to find out how to create an account. I looked at the website and immediately understood that FXStone Financial is not a verified and safe broker, but rather a garbage bin, a classic fraud where people definitely get their money stolen. That’s what I told my friend: to close the website, add it to the blacklist, and forget about it forever. There’s nothing to do here; it’s a scam firm without a license, with a fake address in Chicago, and unfavorable conditions. Moreover, no one knows anything about the firm on the internet. It’s a noname in the brokerage service industry.
I know someone who got into their “services”. She still thinks that they are fine. It seems to be only one or two Ukrainians who get people through Facebook ads. She “made” $45,000 in one day! Wow! Too good to be true. I spoke with Roman and he couldn’t explain anything about the legal side of their business. He said the company was established in 2011 (while reviews are only from 3 weeks ago at the latest)and he is “temporarily” in London. He texted me to “what’s up” and called on a regular phone service while “using” different phone numbers. He doesn’t speak English and his manner of communicating is not professional. He tried to avoid any questions about how the process of service works. I only have one question: how to stop them?
I am very new to trading and inexperienced in any of this. I was ignorant and trusted fxstone financial with my 250 dollars because they promised to make me some money. I dont make a lot of money and really could barely afford to make the initial 250 payment. I did make a lil money at first, but since then I’ve run into major hardship and asked to withdraw my 450 dollars. I didn’t get a response and so I withdrew in Bitcoin because that’s how I deposited and I’ve been waiting all day for it to be confirmed on the block chain. I can’t get anyone to respond and don’t know how to check it’s process. Can someone plz help me try n figure this out?
I answered their ad in Polish. Soon I got an answer from a life representative by phone. It was my very first contact with forex trading, well any trading. I decided to learn and go for it. The 2% fee was decent and no overnight charges. Another rep called me asking if I was ready and I transferred ( yea I know…) 250 dollars. They promised me to make 13 % per month and build a nice account using their system. And it worked, indeed. In the first month, I lost some transactions and my dedicated mentor did not contact me. But I signed up for lessons on another platform. See, I liked the design and simplicity of FXStone. In the second and third mo, I made 500 dollars using a method based on Bollinger Bands mostly on US Oil and US/PLN pair. However, I had technical questions and no one from FXStone was answering my emails. I decided to take at least my investment and deal with the money I, made ( well probably on paper only) deal later. I recovered my investment just because I used PayPal acc to transfer the money. A week ago FXStone denied my access to the platform. I have information on the FXStone PayPal account and I passed all that info to the FBI already. Did I lose? I look at this in a different light 1. I was introduced to trading, and I like it.2. I have learned a lot using this fake account believing that it is real. It built my confidence. So I cannot even say that I lost my time because I was not ready for real-world trading at that time anyway. However, there is no place for scammers like FX Stone Financial, no everyone was lucky, like me, to recover invested money.