The trade market is one of the riskiest yet profitable markets that are flourishing online. With millions of people joining every second, it is safe to say that online investment is being preferred by a lot of people to increase their money and get more profits. However, all this hard-earned money will go to the hands of online scammers and cyber criminals if not handled carefully. We review all the scam brokers who are trying to steal the money from innocent customers of the trade market and help you in steering clear of these bad guys. GT Stox is a trade broker who, unlike others, does not have much information listed on their website. This is a very skeptical move from their side and we will be discussing why.
About GT Stox:
By the law, all the investing companies and trade brokers that are in the market must register themselves with the regulatory authority of the country they trade-in. They must also acquire a license that is approved by the same regulatory body. In the case of GT Stox, the company is neither registered with any of the regulatory authorities nor does it have a license. Moreover, the Financial Conduct Authority, commonly known as FCA of the UK, has released a warning against GT Stox on their website. FCA states on their website that GT Stox is not authorized by them and that the company is targeting people in the UK. they further state that according to their sources, GT Stox is conducting activities that usually requires their authorization. Several customers expressed their grievances on the internet stating how they were robbed by this scam company. One of them stated that GT Stox is a total rip off. He proceeded by saying that the members of this so-called company showcase unprincipled behavior. Another customer explained how GT Stox completely cut him off and did not even pay his remaining amount that was lying in their account after the customer lost a major amount of money in investment by this company. Another lady expresses her concern over the internet against this company stating that despite being warned several times about this company and how fake it is, she still decided to make an account with GT Stox. Her life changed soon after when the same company that she had put a lot of faith in cheated her and stopped her from retrieving her money. She further writes that she lost almost 6000 US dollars to GT Stox.
The Final Verdict:
GT Stox, despite working and conducting its trade operations in the United Kingdom, is said to be registered in the Commonwealth of Dominica. Now, despite being a legit country and not a made up name, this claim is still false as Dominica does not have strict regulatory authorities. Hence, such countries are called offshore zones and, it is very easy to get a license from such countries. People can book a license from across the world with no proof whatsoever. Therefore, on the basis of our research, we conclude that GT Stox is a potential fraud broker and, we strongly advise you not to trade with this company.