Steadysharelimited is a forex and CFD broker that claims to offer a safe and secure trading environment. However, there are a number of red flags that suggest that Steadysharelimited is a scam.
Company Overview
Steadysharelimited is a relatively new broker, having been established in 2022. The company is registered in the Marshall Islands, a well-known offshore financial center. The Marshall Islands does not have any regulations governing the forex industry, so there is no guarantee that Steadysharelimited is a legitimate broker.
The company’s website does not provide any information about its management team or trading staff. This is another red flag, as legitimate brokers should be transparent about who is running the company.
Services or Products
Steadysharelimited offers a variety of forex and CFD trading instruments, including currency pairs, commodities, indices, and stocks. The company also offers a variety of trading platforms, including MetaTrader 4 and MetaTrader 5.
However, there are a number of limitations to Steadysharelimited’s trading services. For example, the company does not offer any educational resources or trading tools. Additionally, the company’s spreads are high, which means that traders will pay more to trade with Steadysharelimited.
License and Regulations
Steadysharelimited is not regulated by any major financial regulator. This is a major red flag, as it means that there is no independent body to oversee the company’s activities. Unregulated brokers are more likely to engage in fraudulent activities, such as front-running or market manipulation.
Why Dealing With An Unlicensed Broker Is Risky?
There are a number of reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to the same regulatory safeguards as regulated brokers. This means that they are more likely to engage in fraudulent activities, such as front-running or market manipulation.
Second, unlicensed brokers are not required to keep client funds in segregated accounts. This means that your money is not protected if the broker goes bankrupt or disappears.
Third, unlicensed brokers are not required to provide dispute resolution mechanisms. This means that if you have a problem with your account, you may have difficulty getting it resolved.
Legal Warning Against Steadysharelimited
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against Steadysharelimited. The FCA has warned that Steadysharelimited is not authorized to provide financial services in the UK and that it is likely to be a scam.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are a number of negative reviews about Steadysharelimited online. Some users have complained that the company is a scam and that they have lost money trading with them. Others have complained about the company’s poor customer service.
Feedback About Their Trading
Users have also complained about the company’s trading platform. They say that the platform is buggy and that it is difficult to place trades. Additionally, users have complained about the company’s spreads, which are high.
Feedback About Their Customer Service
Customer service is another area where Steadysharelimited has received negative reviews. Users say that the company’s customer service representatives are unhelpful and that they are not able to resolve any problems that users have.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Steadysharelimited or any other broker, there are a few things you can do. First, you should report the scam to the relevant authorities. In the UK, you can report the scam to the FCA.
You should also try to get your money back. This may be difficult, but there are a few things you can do. You can try to contact the broker directly and demand your money back. You can also try to file a chargeback with your bank.
Finally, you should learn from your mistakes. Be more careful when choosing a broker in the future. Do your research and only trade with regulated brokers.
Final Thought
Steadysharelimited is a scam broker that should be avoided. If you are considering trading with Steadysharelimited, I urge you to reconsider. There are many legitimate brokers out there that offer better trading conditions and customer service.
I hope this article has been helpful. If you have any further questions, please do not hesitate to ask.
