Stonewall Capital: Is this Platform suitable for Trading?
Forex trader Stonewall Capital is a secretive one. Although the regulation of the firm is a complicated subject, it is likely to be licensed.
On the other hand, due to how poor they are, their trading conditions and web-based platform are more suggestive of an offshore corporation.
The firm’s bonus scheme and deposit policy both have a lot of room for improvement. There is a lot to discuss about this company, but altogether, we find it difficult to suggest trading with it.
Stonewall Capital: Regulation
According to Stonewall Capital, its FSCA license is from South Africa. However, this regulatory authority is not overly strict. As a result, you won’t have access to several essential protections that you would normally expect from businesses that are subject to stricter regulation.
Stonewall Capital doesn’t have Guaranteed Funds, Segregated Accounts, and Negative balance protection.
Measures like a Negative Balance Policy are not assured because FSCA-licensed businesses are not compelled to implement them. Overall, the market watchdog merely requests that brokers provide their addresses and the names of the people in charge of their companies. It keeps a list of these regulated businesses, and the increased transparency makes it more difficult for scammers to operate. A license from the South African authority is thus preferable to having nothing, but it does not offer the clients of brokers any meaningful security.
But let’s get back to Stonewall Capital. This is what the company has to say about regulation:
At the very bottom of its webpage, the licensed entity’s name and license number were shown in extremely small text. To see if they matched its records, we cross-referenced them with the FSCA register:
It appears that the regulator’s database is having some sort of technical problem because it is impossible to determine whether the firm is listed there or not. It is impossible to tell whether Stonewall Capital has a license at the time of writing. Although the firm is licensed, as you will see from the next sections, trading with it is not extremely competitive, and since the FSCA’s broker regulations are not particularly stringent, we would not be recommending it in general.
Stonewall Capital: Trading platform
Clients of Stonewall Capital have access to a web-based platform for trading. This platform leaves a lot to be desired. Here’s how it compares to the most popular programs available today:
Stonewall Capital platform doesn’t have Advanced tools, Auto trading, Custom indicators, and Mobile versions.
And this is how the software itself appears:
It provides some nice tools, such as the emotion indicator that is embedded right in. However, we are unable to recommend the basic platform due to the absence of TA tools and automatic trading.
Stonewall Capital: Minimum Deposit
Stonewall Capital’s Minimum deposit is $250.
With the subject of our review, the minimum deposit is extremely high—it must be at least $250. Nowadays, you can locate authorized businesses that provide micro accounts for a maximum of $10. Even the infrequent broker will not request more than $100, and at most $200, to begin started. We consider this to be a crucial area where the organization falls short.
Stonewall Capital: Payment methods
Stonewall Capital accepts deposits through two e-wallets and credit cards. The e-wallets are PerfectMoney and FasaPay. The three offer a respectable number of possibilities, even though the company does not take other forms of payment including wire transfers and cryptocurrency. However, the majority of registered brokers today have a lot more choices to offer, making trading even more convenient for their consumers.
What is Cryptocurrency?
A digital type of money known as cryptocurrency has no tangible counterparts, such as coins or bills, and only exists electronically. Electronic tools like cell phones, PCs, or specialist Bitcoin ATMs are frequently used in cryptocurrency transactions. Even though Bitcoin and Ether are well-known examples, there are many other virtual currencies on the market, and more are constantly being created. These cryptocurrencies offer distinctive features and applications in the fields of technology and finance, operate on decentralized networks, and are defined by their digital nature.
Stonewall Capital: Trading instruments
The organization offers a variety of markets, including Forex, Indices, Stocks, and Commodities. There are additional asset classifications available for you to employ. ETFs and cannabis are these. Overall, there are a respectable number of instruments accessible, although one significant class that is much sought after is absent. While Stonewall Capital does not allow cryptocurrency trading.
Stonewall Capital Spread
The spreads provided by this company are, by all accounts, fairly competitive. There are no additional expenses in the form of commissions that you would be asked to pay; they start at 0.6 pips for the EURUSD pair. However, Stonewall Capital is outperformed by other brokers who provide spreads that are even lower and benefit from stricter regulation.
Stonewall Capital Leverage
Any client of this firm has access to FX assets with leverage of up to 1:200. Typically, regulated brokers must prevent novices from overleveraging their positions and restrict the margin they utilize to the aforementioned percentages. However, there is no such necessity due to South Africa’s loose regulatory system. Additionally, Stonewall Capital has even less need to limit leverage if it is not licensed. It has been used by businesses as a marketing ploy!
You shouldn’t participate in high-leverage trading if you aren’t sure you can handle it. Make sure the company is licensed as well before accepting it for free; otherwise, you risk being defrauded.
Stonewall Capital: Withdrawal Requirement
Stonewall Capital has unspecified Trading volume requirements and doesn’t even have Tax on withdrawal or Minimum withdrawal.
When working with suspicious brokers, some limits are frequently encountered. One of them is also working with Stonewall Capital. When it comes time to withdraw, keep an eye out for the following:
–Stonewall Capital‘s legal documents have a Bonus clause that gives us pause. It reads as follows:
When you withdraw, the promotional funds are taken away. This appears to be done on purpose to deter customers from withdrawing money lest they forfeit their bonuses.
-There may be a minimum trading volume you must meet before you may withdraw. This volume is typically several hundred times what you deposited.
-We are happy that Stonewall Capital does not charge withdrawal fees because they are quite dubious.
-Finally, there are frequently minimum withdrawal thresholds below which you are not permitted to withdraw. Again, these are unlawful limits on your money and can occasionally be more than your total deposits.
Stone Wall Capital is a bunch of scammers. Never deposit to these scammers. My account number 807858 has been canceled three times without any explanation. My emails are not replied. People who used to contact me via WA and Phone can no longer be contacted. Don’t let all of you be fooled! Once you give them your money, they will run away!!!
First, I was asked to deposit $250. I was guided through a Zoom meeting to place orders on the platform for several days. Then, I was offered to try using Auto Trading. I was asked to deposit an additional $500 for a 2-week trial. After that, I was offered the option to use permanent auto trading, but I was asked to deposit another $2000. Subsequently, my money was not withdrawn.
StoneWall Capital is Scam
StoneWall Capital is not safe.
Thanks, Mohamad for the information
Thank you.You have done me a great favour.