In all projects, which are associated with money, financial transactions and large investments, everyone is interested in a reliable, honest and experienced partner. Especially important is the issue of finding a quality broker for work in the exchange sector, on online trading platforms.
There are many different brokerage companies on the Internet vying with each other to offer their services to traders. Day by day the quality of advertising is improving, so even experienced investors are having more difficulty identifying the fraudster, who hides behind bright slogans and attractive design. As for beginning traders, investors who are just taking their first steps in trading are the most unprotected category, most attractive for scammers and swindlers.
Our reviews help traders to avoid the fate of many deceived investors, tell them what to pay attention to and expose financial scams, which try to present themselves to the users as the world's most popular brokers, the work with which is sure to bring them wealth.
Let's take, for example, the object of our today's detailed study - a dubious project Status Markets, which through its official website is trying to prove its importance.
On the pages of the online resource they emphasize thousands of satisfied clients, their own worldwide popularity and the great experience of the reliable team of the brokerage company.
In fact, Status Markets is not even able to present the information correctly. So, we see that on the main page this broker tells that, joining their trading platform, the trader may comfortably trade, even from London, even from Japan, even from America.
If you scroll down the main page, the footer you can read the following: it turns out that, after all, promises are not true and there are a number of countries to which the Status Markets put restrictions and among them, oddly enough, are marked and the United States, so beautifully promised, as a suitable territory for trading.
This is a significant mistake of Status Markets, which leads to the idea that the company is cheating and traders should not trust them with their money. However, we do not stop here and continue a detailed inspection of the brokerage project Status Markets to refute or, conversely, to confirm our fears.
Types of trading accounts offered Status Markets
Presenting information about trading accounts to potential clients, Status Markets talks about its tariff plans in a traditionally promising way.
Factually, traders are offered to choose their entry key to the Status Markets trading platform from three options. These are Silver, Gold and Platinum trading accounts.
The conditions of all are different and not too generous.
The section looks uninformative: it is impossible to know the amount of the minimum deposit for those who want to become members of the trading platform Status Markets. This is reminiscent of the common practice of many fraudulent brokerage projects - they are counting on newcomers who will love the beautiful promises, but who do not understand the peculiarities of the trading sphere and have not yet figured out what data is important to work on the platform.
For example, it is known that the maximum amount of leverage is 1:400. For all three trading account variants there are different swap discounts and a dedicated account manager.
Only for registered users it becomes clear that the minimum deposit size is $250. By the way, the owners of the project forgot to mention on the site the size of the amount required to invest for the sake of upgrading your account, switching to another plan.
It should be noted that the size of the minimum deposit is alarming, because most of the regulated brokers with a good reputation set the minimum deposit at $100-150. It makes us suspect that there are hidden intermediaries whom the broker pays for participating in concealment of cash flows. It is often practiced by swindlers.
By the way, there is no information about the demo or Islamic account in the Trading Accounts section. To find out the details, I had to spend a lot of time studying the texts in different sections of the site: the Islamic account is available exclusively for traders who upgrade their status level to the most expensive Platinum trading account.
It looks more like discrimination against traders than benefits for the select few.
Status Markets Trading conditions
On its official website, the company talks about itself as a loyal and flexible broker who does everything to improve the experience, success and wealth of its clients. Among the trading conditions offered, the use of a powerful MT4 interface is indicated.
At the same time, even the demo account can only be operated through the web trader, which has much lower characteristics as well as the level of data security.
The project focuses on its key task: to create a favorable trading environment for each of its clients.
To this end, offers more than 100 trading assets, including:
- Currency pairs;
It is not possible to confirm the information about the list of 100 instruments. There is no complete list on the site, but judging by the fact that much of the information on the site is false, it makes you doubt it, too.
Practice shows that it is very short-sighted to expect positive results and profits from a fraudulent project. Promising the safety of money for traders, Status Markets deliberately deceives. After all, they offer complete security of funds and personal data of clients.
The company indicates that it works without commissions.
This is very suspicious, because it is the commissions that bring the main profit to the brokers. So, the owners of the project earn on dubious "schemes".
The site puts a lot of emphasis on training. The company talks about the provision of a quality educational program and useful materials on the subject. Alas, but there is a deception here as well. All training ends with the generalized concepts and truths that every user can find on the Internet. Extolling their trading conditions in particular and the activities of the project as a whole, Status Markets has nothing to show but advertising. There is no evidence, no figures that would confirm what they have said.
But registering new potential customers on the platform very quickly. However, in order to confirm personal information, the platform requires clients to use identifiers. For their part, they promise the absolute protection of personal information from third parties, but again nothing to confirm their words. As for protection, an SSL certificate is not a sufficient measure.
Advertising the competence of their team of consultants and executives, which includes experienced traders, not a single face is visible on the site.
To use the Status Markets platform, traders can choose to use a computer as well as Android and iOS mobile devices.
Overall, the site looks like it was created in a hurry, or by people who know very little about online trading and don't know the needs of exchange investors.
Status Markets Licenses
In the process of preparing a detailed review of Status Markets, I had to repeatedly expose it as a lie even in the most minor issues, not to mention the distortion of key data. For example, the story of the origin of Status Markets.
The site reports that their beginning dates back to 2017.
At first glance, nothing unusual, however, the company is silent about the fact that at the time it existed under another name. What is this? An insignificant detail or a conscious concealment of the facts?
Let's see what the site domain tells us, because the project operates online and would not be relevant without the site. For more information and answers, we turn to the service WhoIs.
As we can see, the site was registered on September 24, 2020, just under a year ago. And if its owners worked with the company under a different name, it has nothing to do with statusmarkets.com. The owners of Status Markets may have dozens of companies, but to summarize their experience in the marketplace is certainly not correct.
As stated in the footer of the site, Status Markets - this is not a brokerage company, but a project owned by some offshore company MarCo Global Projects Ltd, allegedly registered in the Marshall Islands.
GLOFSA is a very lousy regulator, so let's try to check whether there is legal proof of the relationship between Status Markets and the specified parent company. To do this, let's go to the regulators of the countries where they say they are allowed to operate.
There is no mention of the company on the websites of regulators such as GLOFSA, ASIC, BaFin and others. However, there is one mention on the website of the British regulator FCA.
As we can see, the data is definitely not in favor of the project. Let's look at the details the regulator offers.
The fears are confirmed - Status Markets is a typical scam, not a brokerage project.
It is definitely not worth investing in this site, because scammers do not return money to their clients.
Status Markets Reviews online
The same advice: do not trust the money to the platform Status Markets, and give real traders, which in their time, no one warned of the actions of fraudsters.
People are not saying anything new - they just describe the typical behavior of financial swindlers, which, alas, was too expensive for their customers.
Safety and security of funds with Status Markets
Naturally, this fake broker promises traders full protection of capitals and personal data.
After a detailed check of the facts in the preparation of our review, we can confidently note that the Status Markets scammer only promises, lies and does not realize all his words in practice.
Status Markets is an unethical, fraudulent brokerage project with absolutely no transparency. Its owners don't know what honesty means to their clients who they try to convince that their trading platform is reliable for investments.
The reality shatters all dreams of profit - the scammer acts without documents and registration, has no legal status and only takes the deposited money, receives profit and refuses to withdraw earnings to its clients.