STEP Markets is a broker that provides trading services for Forex, stocks and CFDS for investors. STEP Markets website is https://www.stepmarkets.com/, the website only support English as the language use. According to Whois query of the website's domain name registration information shows that the company's official website domain name registration on June 21, 2023, the domain name registration time is not more than half a year ago.
Company background:
According to STEP Markets' website, the company is registered in the Republic of Montenegro. However, neither the Government of Montenegro nor the Montenegrin government electronic portal (eGovernment) could find any registration information related to the company. In addition, according to the domain name registration information queried by Whois, the company's official website domain name was registered on June 21, 2023, and the domain name registration time is not more than half a year ago.
Account Registration:
STEP Markets provides registration links for both real and demo trading accounts on their website. To open a real trading account, users can click on "Open An Account" on the homepage or the top right corner of the website. To open a demo trading account, users can click on "Accounts" on the homepage and select "Demo Account." For a real account, users need to provide their name, phone number, email, and other required information. Similarly, for a demo account, users need to provide their name, phone number, email, and other necessary details.
Account Types:
STEP Markets offers three types of trading accounts: Classic account, Gold account, and Platinum account. However, the website does not provide detailed information about the differences between these account types.
Trading Products:
On the STEP Markets homepage, the company mentions that it offers trading services for forex, stocks, and CFDs. However, there is no specific information regarding the individual trading products in these categories. Details such as spreads, margin requirements, fees, and trading hours for specific products are not provided on the website.
Trading Hours:
The website does not provide information about the trading hours for the specific trading products it offers.
Trading Hours:
The website does not provide information about the trading hours for the specific trading products it offers.
Deposits and Withdrawals:
The STEP Markets official website does not provide information about deposit and withdrawal methods, processing times, fees, or supported currencies.
Trading Tools:
STEP Markets offers two trading tools: education and analysis. The education tool includes information about the forex market and financial markets, but the analysis tool's economic news section does not contain any content.
Trading Tools:
STEP Markets offers two trading tools: education and analysis. The education tool includes information about the forex market and financial markets, but the analysis tool's economic news section does not contain any content.
Risk Disclaimer:
The website states that the company does not offer financial services to residents of certain countries or jurisdictions, including but not limited to Canada, the United States, Israel, New Zealand, North Korea, Turkey, Singapore, Indonesia, and Iran.
Regulatory Information:
The website only indicates that the company is registered in Montenegro and does not provide any information related to financial regulatory oversight. Additionally, the website does not link to any financial regulatory authority, and no regulatory information about the company is found on the Montenegro Securities and Exchange Commission (SCMN) website.
Summary:
STEP Markets raises serious concerns regarding potential fraudulent activities. Firstly, the official website lacks specific information about the trading products, including spreads, margin requirements, and trading hours, as well as deposit and withdrawal details. Secondly, the registration information displayed on the website appears to be falsified when verified. Lastly, the absence of any regulatory information on the website, coupled with the inability to verify the company's registration with the Montenegro Securities and Exchange Commission (SCMN), raises significant red flags. Based on these findings, STEP Markets is highly suspicious, and investors are strongly advised to exercise caution when considering its services. TraderKnows urges you to prioritize your financial security and avoid falling into potential fraudulent schemes.
