Stone X (stonexly.com) is a counterfeit brokerage, impersonating the legitimate broker Stone X (stonex.com). Established in 2023, the broker claims to offer trading services in forex, metals, crude oil, indices, and other financial products. However, it lacks proper regulatory oversight. Additionally, Stone X (stonexly.com) falsely claims to be regulated by the Cyprus Securities and Exchange Commission (CySEC), misleading investors and posing a risk. Investors should be cautious and avoid trading with such counterfeit brokers.
Company Background:
This broker is a fake platform, impersonating the legitimate broker Stone X (stonex.com), misleading investors with a similar website design and content. The official domain was registered on June 21, 2023, and has been in operation for less than a year. By imitating the image of a legitimate business, Stone X aims to gain the trust and funds of investors, but it is fundamentally a false broker, lacking legitimate regulatory oversight and a real trading platform. Investors must be cautious in their selection of trading platforms, avoiding such counterfeit platforms to prevent financial losses and unnecessary risks.
Regulatory Status:
Stone X claims to be regulated by the Cyprus Securities and Exchange Commission (CySEC: 312/16). However, according to the findings of the Cyprus Securities and Exchange Commission (CySEC), the regulatory entity holding license number 312/16 is Royal Financial Trading (Cy) Ltd, not Stone X. This indicates that Stone X is suspected of counterfeit operations and might be involved in false advertising. Investors should be particularly cautious of this situation to avoid potential risks.
Trading Products:
Stone X offers a variety of trading products, including forex, precious metals, cryptocurrencies, stock indices, and crude oil, providing investors with diverse options for trading. Investors can trade in 62 currency pairs, enjoying low spreads and fast execution. In addition to joining the markets for gold and silver to diversify their trading portfolio, Stone X also offers mainstream cryptocurrency trading, such as Bitcoin and Ethereum, providing investors with the opportunity to participate in the digital currency market. Furthermore, investors can trade major international stock indices and crude oil on the Stone X platform without paying extra fees, enjoying a transparent and convenient trading experience.
Trading Platform:
The broker offers a trading platform named "ST5", available for both PC and mobile devices (iOS and Android). However, despite its claims of providing a convenient trading experience, the lack of support from a real company behind it poses potential security risks in trading. Investors should carefully consider using this trading platform and assess its security and reliability.
Account Registration:
Users can register for a free Forex and CFD trading account in a few steps. Firstly, by clicking the "Open Real Account" button, filling out the online application form, and uploading identity and banking information for verification. After approval, the email address provided at registration will automatically receive account information, allowing trading to commence.
However, the broker has not disclosed specific account types or key information such as spreads, leverage, minimum deposits, and fees. Therefore, before registering an account, investors should exercise caution and ensure they fully understand the relevant trading terms and conditions to make informed decisions.
Customer Support:
Stone X (stonexly.com)'s customer support only offers an email contact method (support@stonexly.com). The lack of other contact options, such as phone or online service, may affect the timely communication and problem resolution between investors and the broker.
Conclusion:
Stone X (stonexly.com) is a counterfeit broker, impersonating the legitimate broker Stone X (stonex.com). Despite claiming to offer trading services in forex, metals, crude oil, indices, and more, it lacks legitimate regulation and falsely claims to be regulated by the Cyprus Securities and Exchange Commission (CySEC), misleading investors and posing risks. With less than a year of registration, mimicking legitimate business website design, and providing only email-based customer service, its trading platform "ST5" lacks real company support. Account registration is simple but lacks disclosure of specific types and key information. Investors should be wary of trading with such counterfeit brokers to avoid potential risks and financial losses.
Currently, the broker has been marked as "Suspected Fraud" on TraderKnows.
