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ZocDocStocks Review | The Best CFD platform in Europe or a Scam?

by Kevin Berry
Rating: 
  1.2/5   Reviews: 2
ZocDocStocks - logo

ZocDocStocks calls itself the best CFD platform in Europe, where clients can trade currencies, indices, and other financial asset classes. It is a very bold statement that needs to be somehow confirmed. And the broker has problems with confirmation. Scarce reviews, lack of a license, and an unclear operating period – all this does not give even a hint of being top-1 in Europe. The company assures that its office is located in Monaco, and it is officially registered in Belize. Where is the truth here? Can we trust this brokerage intermediary with money? Maybe it’s a scam? Let’s figure it out.

Highlights

🏛️ Country Belize, Monaco
⚠️ Regulation
🖥️ Website https://zocdocstocks.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $500
⚖️ Minimum and Maximum Leverage 1:50
⚙️ Trading Platform WebTrader
📨 E-mail support@zocdocstocks.com
📞 Phone +377 16 08 41 15

First Impression of Zocdocstocks.com

A one-page website for a brokerage company is a rare occurrence, but it does happen. So, ZocDocStocks has its official website presented in the form of a one-page resource. That is, separate sections with information are absent; we have a canvas of text explaining trading conditions, advantages, and other facts from the broker’s activities. Is this good or bad? At a minimum, it speaks of the organization’s lack of seriousness, because creating such a website takes little time and money. Moreover, it is impossible to fit all the important information on one page. Therefore, such facts as the period of operation, business model, and licenses are simply not stated on the website.

ZocDocStocks - site

The site operates only in English. Even though the company declares itself as the best platform in Europe, no other languages are supported here, for example, Italian, Spanish, or French. The graphic design is minimal and clichéd: skyscrapers, people in suits, and computer screens. In general, ZocDocStocks has created some kind of website imitation, giving the impression that the website exists just for the sake of existing.

Partnership and Bonuses

The affiliate program and bonuses on the website are not specified. However, when creating a personal cabinet, you can see the “promo code” field. Perhaps this is the affiliate program, the terms of which ZocDocStocks did not even disclose. Nothing is known about the bonuses, but they are mentioned in the user agreement in the terminology section. Do they actually exist? It is unknown. At this stage, the company’s opacity and some secrecy are already visible.

Account Opening on Zocdocstocks.com

To register an account, you need to click the “Registration” button. The process of creating an account at ZocDocStocks includes providing your name, phone number, email, and password. In addition, you can add a promo code if you have one, and agree to the terms and Refund policy. After entering all the data, the dashboard opens, and it was not necessary to confirm the email.

Registration

The trading terminal is integrated into the personal cabinet, which is considered an extremely inconvenient solution. It would be more convenient and comfortable to separate the platform from the dashboard. A demo account was also not noticed. Probably, there is no demo in ZocDocStocks, and this is a significant drawback.

In addition to the trading terminal, clients can edit their personal information, upload documents for verification, fund their deposit, submit withdrawal requests, view trading and transaction history, and change the theme from dark to light. A standard set of actions, nothing interesting or unique.

Verification

The verification process at ZocDocStocks is necessary to enable fund withdrawals, as the broker warns that it allows money to be withdrawn only to verified traders. Uploading documents for KYC takes place in the personal cabinet. There is an “Upload” button next to each type of document, which you need to click on to specify the file path on your computer.

ZocDocStocks - KYC

Pros
  • Uploading documents in your personal account.
Cons
  • There is no AML&KYC policy document.

Trading Software

There is no description of the trading terminal’s capabilities on the website, but the platform can be explored in practice. It’s a pity that there is no demo account; it would have helped to test the execution of orders. The trading platform at ZocDocStocks is a primitive WebTrader, which is only available in a browser version. That is, you cannot download the platform as a separate application on your smartphone. And it is another significant disadvantage because many traders prefer to trade from smartphones.

Terminal

The terminal has a chart integrated from the popular TradingView service. Therefore, traders have access to advanced technical analysis, indicators, and many other elements of graphical analysis. You can also change the type of charts from Japanese candles to another, switch timeframes, use pending orders, and create lists of favorite assets. The platform at ZocDocStocks does not shine with capabilities and some diverse functionality. Such a terminal is not suitable for full-fledged trading, as important and necessary options, such as auto trading, are missing.

Features ZocDocStocks ToroProfit Tradercr
Demo Account
Mobile App
Own Development ✔️

How Can I Trade With ZocDocStocks?

Before us was a CFD broker, so we should not expect any spot assets or futures contracts. Available for trading are currency pairs, cryptocurrencies, indices, stocks, and commodities. In total, there are more than 100 instruments. Also, ZocDocStocks offers various tariff plans, the availability of additional options depends on which one you choose. We will look at these account types further.

All Info About Accounts

ZocDocStocks offers traders only three types of accounts:

  1. Beginner. Minimum deposit $500, leverage up to 1:50, instant execution, and standard financial plan.
  2. Experienced. From $25,000. The financial plan changes to an individual plan, and there is cryptocurrency and metals trading, and deposit insurance.
  3. Professional. From $50,000. Premium financial plan, deposit protection, and 24/7 personal support.

Account types

There are many questions regarding the trading conditions. First, why is the minimum deposit so high? The first tariff requires a minimum of $500. It is some kind of madness. And the second account type even starts at $25,000 – this is complete nonsense. Second, what about the restrictions on available asset classes at ZocDocStocks? Beginners cannot trade metals and cryptocurrencies, as these asset classes are only available on the “Experienced” tariff. Third, where are the commissions and spreads? Why are these important conditions not even mentioned? Fourth, what does deposit and insurance protection mean? Where are the explanations for these services? Fifth, where is the Islamic account?

Pros
  • Not found.
Cons
  • The broker requires a high minimum deposit.
  • Commissions are not disclosed.
  • There is no demo and Islamic account.

Market Analysis and Education With Zocdocstocks.com

Apart from the financial plan, traders don’t have access to anything else. ZocDocStocks hasn’t even provided a news feed, economic calendar, or online quotes for popular assets. Forget about any learning resources or analytics.

Deposit, Withdrawal, and Fees

ZocDocStocks only supports cryptocurrency transfers (USDT TRC-20 and Bitcoin). Commissions and processing times for withdrawal requests are not stated. Supporting only cryptocurrency as a means for depositing and withdrawing funds raises concerns about potential illegal activities. Why aren’t there convenient options like credit/debit cards, and bank wire transfers?

Features ZocDocStocks OceanFX  IronGatesFX
Debit/Credit Cards ✔️ ✔️
Electronic Payments
Crypto Transfers ✔️
Deposit Fee ✔️
Withdrawal Fee ✔️

How Can I Contact It?

You can contact ZocDocStocks representatives by phone or email. There are no other ways to get in touch with the managers. For unknown reasons, there are no online chat or social media accounts, although these are important elements for communication.

A check of the contact details may reveal something important. For example, the email of this broker might actually not exist, meaning it’s fake.

Fake email

Pros
  • None.
Cons
  • The email doesn’t exist.

Is ZocDocStocks Dangerous?

There’s no thought whatsoever that the company could be safe and profitable for trading. Quite the opposite, at this stage of the investigation, we can almost certainly conclude that ZocDocStocks is a fraudulent broker. All that’s left is to analyze the license, registration address, and founding date to finally pass judgment.

How Long Does The Broker Work?

The length of the operation is an important factor that either adds trust to the company if it’s long, or diminishes it if it’s short. Therefore, like other fraudulent firms, ZocDocStocks hides its founding date. It’s not stated on the website. However, the registration date of the website’s domain showed us when the platform was actually launched. It happened after September 27th because that’s when the website appeared.

Domain

How Is ZocDocStocks Regulated?

Having regulation is a guarantee that the broker will operate honestly and transparently. Does our investigation subject have any licenses? The firm assures us that it is headquartered in Monaco. Okay, then let’s refer to the official CCAF register and try to find the company in the list of authorized organizations. Unfortunately, there’s no ZocDocStocks there. Below, you can see the list of authorized firms, and our scam subject is not there.

ZocDocStocks - CCAF

Additionally, the user agreement mentions the jurisdiction of Belize. Maybe the company is licensed there? In the place where ZocDocStocks should be, there’s only one firm whose name starts with “Z”. And in Belize, such a firm does not exist.

ZocDocStocks - FSC

Features ZocDocStocks Oanda Finorax
European Zone ✔️
Asian Zone
American Zone
African Zone
Offshore ✔️

Frequently Asked Questions (FAQ)

How to Trade With ZocDocStocks?

First, you need to register an account. The procedure for creating a personal cabinet includes providing your name, password, email, and phone number. After that, you can replenish the deposit with a minimum of $500, noting that there is no demo account available. You will also need to go through the KYC process.

Is ZocDocStocks Legit?

We have determined that the company is not regulated. There are no licenses in Monaco or Belize. It is an illegal broker.

How Risky Is It?

We are dealing with an illegal brokerage firm, so it is easy to lose money here. Trading with ZocDocStocks is extremely high-risk.
Kevin Berry
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Expert Opinion

The scammers didn’t even bother to create something resembling a legitimate broker. They quickly set up a one-page website and started offering a minimum investment of $500 in their scam. I hope that no one falls for this fraud scheme. By the way, ZocDocStocks has a twin broker. Its name is also similar: Just For Stocks, and the website justforstocks.com closely resembles the website of our exposed hero. It’s unclear how many such clones exist. In any case, you should always check brokers, and look for their licenses and guarantees. If they don’t have them, don’t even bother registering an account, as it is pointless. Do not even think about collaborating with such organizations.

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ZocDocStocks rating

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Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

2 reviews about ZocDocStocks

Africa October 27, 2023 - 13:34
They promised earnings, but I actually lost money.
The level of trust
Quick withdrawal of funds
Efficiency of technical support

The company zocdocstocks deceived me. They promised to help with trading. They assured me that I would be trading with a personal manager who would help me make money on Forex. However, instead of help and earnings, I incurred losses. I invested $2,500 to trade, but after just a week, this amount turned into $1,000. I stopped cooperating with the scammers and started conducting transactions independently, but it didn’t help. It was just another loss of money.
In the end, I had $600 left in my balance, which I requested to withdraw. Do you think the scammers processed my withdrawal request? NO! They stopped communicating with me. My $600 is still hanging in the balance. I have already realized that these are just pixels on the screen, and the real money is long gone, in the hands of the crooks and swindlers who created the fraud broker named zocdocstocks.
It’s very frustrating to lose money this way. I hope that my sad experience will help someone refuse to cooperate with a scambroker. Do not trust illegal firms. Trade only where there is a license.

Reply
Serj December 13, 2023 - 07:55
SCAM
The level of trust
Quick withdrawal of funds
Efficiency of technical support

These are scammers, it is impossible to withdraw money there, never contact this site!

Reply

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