7 Street Corporation is a relatively new online trading platform, with the domain registered on July 11, 2023. It claims its registered address is in Mauritius and is regulated by the Financial Services Commission (FSC) of Mauritius. The platform offers a variety of financial trading products, including forex, precious metals, commodities, indices, and stocks, and uses the widely recognized MetaTrader 5 (MT5) as its trading software. However, despite its claims of regulatory credentials, the platform exhibits significant deficiencies in transparency and disclosure of key information. Investors should exercise a high degree of caution when considering using this platform.
Background of 7 Street Corporation:
The official website of 7 Street Corporation is: https://www.7streetcorporation.com/. The domain was established on July 11, 2023. Its registered address is Hotel Avenue 11th Floor, Bramer House Cybercity, Ebene, Mauritius. The company was registered on July 19, 2023.
Regulatory Information of 7 Street Corporation:
7 Street Corporation claims to be regulated by the Financial Services Commission (FSC) of Mauritius, offering investment and trading services in financial derivatives, including forex, precious metals, commodities, indices, and stocks. Although we have verified 7 Street Corporation's registration with the FSC in Mauritius, the company has not registered its official website. This omission suggests that investors should remain cautious and further verify its legitimacy and safety when using the platform.
Account Registration Process of 7 Street Corporation:
- Users visit the 7 Street Corporation website and click the registration button.
- Fill out the application form.
- Submit identity verification/phone number verification documents.
- Deposit funds and start trading.
Account Types of 7 Street Corporation:
7 Street Corporation offers four different types of accounts, as follows:
Excellence Account:
- Minimum Deposit: $1,000
- No Commission
- Spread: From 2 basis points
- Leverage: 1:100
- Lot Size: 0.01 lot
Infinite Account:
- Minimum Deposit: $10,000
- No Commission
- Spread: From 1.5 basis points
- Leverage: 1:100
- Lot Size: 0.01 lot
Platinum Account:
- Minimum Deposit: $25,000
- No Commission
- Spread: From 1 basis point
- Leverage: 1:100
- Lot Size: 0.01 lot
Signature Account:
- Minimum Deposit: $100,000
- No Commission
- Spread: From 0.5 basis points
- Leverage: 1:100
- Lot Size: 0.01 lot
Trading Software of 7 Street Corporation:
7 Street Corporation claims to use the industry-standard MetaTrader 5 (MT5) as its trading platform. Although MT5 is widely used globally and is recognized for its powerful features and flexibility, the platform's lack of sufficient regulatory information and transparency poses risks to investors. Without clear regulatory support, even using reliable software like MT5 cannot fully guarantee the safety of investors' funds and the fairness of trading. Investors should cautiously assess the overall credibility of the platform, rather than solely relying on the software it uses.
Trading Products of 7 Street Corporation:
7 Street Corporation offers a variety of financial trading products, including forex, indices, commodities and metals, stocks, as well as other financial products. Although these products are diverse, covering multiple market areas, the platform's severe lack of transparency and regulatory information leaves investors uncertain about the safety and reliability of the trading environment. Especially in the absence of clear regulatory background, trading these products may face higher market and operational risks.
Spread, Leverage, and Commission of 7 Street Corporation:
7 Street Corporation offers account types that do not charge commissions, with a unified leverage of 1:100. The spread varies depending on the account level, ranging from a minimum of 0.5 basis points to a maximum of 2 basis points. This design aims to provide flexible trading conditions for users of different investment levels, but investors should comprehensively consider their needs and risk tolerance when making a selection.
Deposit and Withdrawal Methods of 7 Street Corporation:
7 Street Corporation does not clearly state the supported deposit and withdrawal methods, related fees, or processing times on its official website. This could mean that investors might encounter unexpected restrictions, delays, or high fees during the fund deposit and withdrawal processes. The lack of clear descriptions of fund liquidity adds significant uncertainty and potential financial risk in managing investor funds. Hence, without explicit deposit and withdrawal information, investors should remain highly cautious about the platform's fund operations and avoid unnecessary losses.
Customer Support of 7 Street Corporation:
Email: info@7streetcorporation.com
Phone: +(971) 43425662
Conclusion:
7 Street Corporation's deficiencies in regulatory information, fund operations, and transparency raise doubts about its legitimacy and reliability. Investors should cautiously evaluate the risks when choosing this platform for trading and consider potential financial pitfalls. The lack of clear descriptions of fund operations further increases the risk of using this platform, and investors should be particularly careful in making decisions. Currently, 7 Street Corporation is marked as "Suspected Fraud" on TraderKnows.
