AllStockNow Scam: Read Our Review Before Investing

Is AllStockNow Legit or Scam?

Run away! AllStockNow is a scam broker with numerous red flags that scream illegitimacy and fraudulent practices. This review will expose their deceptive tactics and inform you of the dangers associated with dealing with this unlicensed broker.

Company Overview

Services or Products

AllStockNow claims to offer various investment products, including:

• Stocks
• CFDs (Contracts for Difference)
• Forex (foreign exchange)
• Cryptocurrencies

However, there’s no evidence to support these claims. The platform itself is inaccessible, and no details about specific instruments are available.

Trading Platform & Leverages

AllStockNow advertises the use of MT5, a popular trading platform. This is likely a false promise designed to lure potential clients. No access to any trading platform is provided, and the platform’s functionality remains unverified.

The website mentions leverage options of up to 1:400, which is excessively high and incredibly risky, especially for beginner traders. Reputable brokers in developed regions typically limit leverage due to its potential for significant losses.

If you have lost money to companies like GalaxyEX, or Prime Capital Trade; please report it to us on our report a scam form.

Spreads and Cost of Trading

AllStockNow offers no clear information regarding spreads or other trading costs. Instead of transparent pricing, they hide crucial details and force potential clients to contact their agents, who are likely to pressure them into high-risk investments.

License and Regulations

AllStockNow is not regulated by any reputable financial authority. This is the biggest red flag, indicating a complete lack of oversight and accountability. They are even blacklisted by multiple Canadian regulatory bodies like British Council of Shopping Centres (BCSC), Customer Service Associate (CSA), (MSC), solidifying their illegitimate status.

Legal Warning Against AllStockNow

Investing with AllStockNow comes with significant legal risks. They operate illegally, and any funds entrusted to them could be lost without any legal recourse.

Deposit and Withdrawal Methods

AllStockNow remains vague about deposit and withdrawal methods, hindering any chance of investors safely retrieving their funds. This is a deliberate tactic employed by fraudulent brokers to trap victims.

AllStockNow Pros and Cons

Why Dealing With An Unlicensed Broker Is Risky

Unlicensed brokers operate outside the boundaries of financial regulations, posing several significant risks to investors:

• Loss of funds: With no legal oversight, there’s no guarantee of the safety of your deposited funds.
• Manipulation and fraud: Unregulated brokers can easily manipulate markets and engage in fraudulent activities without repercussions.
• Limited dispute resolution: In case of disputes or scams, you have limited options to seek legal recourse.
• No investor protection: Regulatory safeguards like negative balance protection and segregated client funds are absent, leaving investors vulnerable to significant losses.

Client Feedback

There aren’t any reliable client reviews available for AllStockNow. This is likely due to their short existence and limited reach.

How Can “ReviewsAdvice” Help You If You Get Scammed?

Unfortunately, “ReviewsAdvice” cannot directly assist with recovering funds lost to AllStockNow. However, we strongly advise seeking legal counsel and contacting relevant financial authorities to report your experience. Additionally, chargeback professionals may offer assistance in certain cases.

Our professionals can help you by providing free consultation and recovery service recommendations to help you in recovering the lost funds or you can report to us today by the below form.