Forex Steady (steady168.com) claims to provide investors with the best forex trading platform. The only issue we have with the platform is a lack of regulation. Being an offshore platform that lacks regulation gets you nowhere. There are a lot of risks that come with trading with the platform. And this is the reason why we must expose the platform. A few members have been complaining of failure to withdraw funds.
The homepage has no navigation, and it's only one page with no information on what to expect. Of course, you would expect better from Forex Steady especially claiming to be a globally recognized platform. But, unfortunately, what we see is nothing close to a professional forex trading platform.
We have a platform that fails to offer investors information on available leverage and spread. Instead, the platform pushes investors into depositing funds without knowing the general conditions. It's practically blind-siding investors.
You should invest in a transparent platform that offers everything on the table. There should be no hidden charges or terms from investors. Offshore trading platforms are known for taking full advantage of such platforms.
The best way to invest includes using innovative investment platforms with a proven track record. It would be best if yIn addition, you went for investment platforms that guarantee investors' safety and fair trading conditions.
When you land on the homepage, the platform does an excellent job with the design. After all, the first glance is essential, and most investors will easily fall for it. Thanks to our keen eye, we will expose the numerous red flags found on the platform.
Your priority when deciding which investment platform to use should be research. Make sure to research heavily on the platform before making a final decision. Try and find out the experiences of other investors with the platform.
Forex Steady doesn't mention any account types on the platform. We don't know the available number of accounts on the platform. It's another red flag as it shows a lack of transparency. The platform could be taking advantage of naïve investors.
No one knows the excellent leverage and spreads on the platform. We also don't know the acceptable minimum deposit with the platform. And this puts your funds at risk. The platform will accept all deposits.
If you deposit $4,000, there's another user who will deposit $500. Both of you might get the same trading conditions. It's unfair as the higher deposit means having to enjoy better trading conditions.
The platform will also take advantage by claiming more deposits warrant high opportunities. We have seen this type of strategy before. But, unfortunately, it doesn't end well for investors. And this is why we must expose the platform.
Without mentioning available leverage, the platform is putting funds at risk. And this is why we recommend using platforms that follow set guidelines on leverage and acceptable minimum deposit.
The industry has set $250 as the acceptable minimum deposit in nearly all jurisdictions. However, when it comes to leverage, it depends on the regulator. In Europe, for instance, the maximum leverage is set at 1:100.
For retail traders in the United States, the regulator puts a cap on retail traders at 1:50. Such leverage protects investors from making significant losses. However, high leverage means losing more funds which investors fail to consider.
Forex Steady claims to provide five classes of assets. These include commodities, crypto, forex, indices, and stock. In addition, you get to trade leading entities in the energy and manufacturing sector. Finally, the available crypto assets include Bitcoin, Ethereum, and Litecoin.
Forex trading is at the core of their platform. So you only get major currency pairs and a chance to trade with global markets. Members also trade-leading company stocks, an excellent example being the FAANG group stocks.
Information on who owns or runs the platform remains a mystery. Despite claiming to be a globally recognized trading platform, it's not the case. We haven't heard of the platform, just a robot with the same name.
Without the platform mentioning names, it's clear to see there's a lack of transparency. We don't know who owns or runs the platform. The names of the CEO or CFO of the entity remain hidden from members.
As an investor, you would want to invest in a reliable platform. You should know who handles funds or at least who is held responsible for them. The lack of trust from the platform indicates what kind of a platform it is.
There's a name at the disclaimer at the footer of their homepage. Forex Steady Global Limited which there are no registration documents or papers. It's a random name from the platform meant to fool naïve investors.
When looking for a viable investment platform, you should also check their support structure. Make sure to go with the one with a more direct approach to communication. ForexSteady fails to provide direct access to their support.
All we have is a platform that only offers a corresponding email address. You only get a response if you leave your message. There's no other way you can get access to their support. You don't get to see any phone number listed on the platform.
Forex Steady is not a licensed platform and does not hold any valid documents to prove it. And this means steady168.com is an unregulated trading platform. The risks that come with offshore and unregulated platforms are humongous.
You should avoid such platforms as there's no regulatory oversight. It means the platform is free to impose any trading conditions they feel like. And this is one of the reasons why we must shun the platform.
There are no documents to prove the platform has passed any compliance. And this means the platform fails to apply for a license. It puts your funds at risk as there's no protection from regulators.
It would be best if you went for platforms that enjoy the backing of regulators. These regulators include ASIC, BaFIN, CFTC, CySEC, and the FCA. Other notable regulators include CNMV, CONSOB, FINMA, FSA, and SFC.
You can fund your account using bank and wire transfers. After opening an account, the platform sends instructions on how to deposit. Once you deposit, the funds will reflect in your dashboard within 24 hours.
We don't recommend anyone to deposit funds with the platform. As fate would have it, no one gets to enjoy the fruits of their trading. A majority of members have been languishing after the platform blocked their withdrawals.
One of the few exciting features on the platform is availing MT5 trading terminals. These are some of the best trading platforms to use. In addition, the platform offers investors an engaging user experience and interface.
We recommend using MT4, MT5, and SIRIX trading terminals. What you get from these platforms is unmatched. You get over 50 technical indicators and technical analysis tools. Novice traders also use the demo function to improve their skills.
Your funds are far from safe with an unregulated platform. The platform fails to segregate accounts or offer insurance cover for deposits made. If and when the platform shuts down, no member will receive any compensation.
Please stay away from the platform or risk becoming their next victim.
We recommend you go for teste investment strategies that prove worthy. These are what successful investors are using to make realistic profit margins.
If you have any queries, feel free to leave a comment.
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