Warning Investors – Regarding market intermediaries
(investment and trading advisers, collective investment schemes, brokers, dealers, and transfer agents)
Introduction
Allstocknow is a trading platform that boasts a wide array of Contract for Difference (CFD) trading services, encompassing forex, stocks, indices, metals, and energies[1]. In this comprehensive review, we will delve into various aspects of Allstocknow, including its user interface, customer support, account types and trading conditions, regulation and compliance, and the perspective of actual customers. Our goal is to determine whether Allstocknow stands out as a reliable platform for traders.
User Interface and Trading Platform
Allstocknow presents a modern and intuitive website interface that facilitates easy navigation. The trading platform itself is web-based, allowing users to access it from any device with an internet connection. Notably, the platform offers a diverse set of trading tools, including charts, technical indicators, and risk management features. However, it’s worth mentioning that Allstocknow’s trading platform may not be as advanced as some of its competitors.
Customer Support
Allstocknow maintains a customer support system that includes email and live chat options. The support team exhibits a commendable level of responsiveness and is available around the clock, providing traders with assistance when they need it most.
Account Types and Trading Conditions
Allstocknow provides traders with three distinct account types: Basic, Silver, and Gold. The Basic account necessitates a minimum deposit of $250, while the Silver and Gold accounts demand minimum deposits of $5,000 and $25,000, respectively. Trading conditions on Allstocknow are competitive, featuring low spreads and high leverage opportunities for traders looking to maximize their potential returns.
Regulation and Compliance
However, there’s an important caveat to consider. Allstocknow claims to be headquartered in the Czech Republic but is not registered to trade or provide advisory services related to securities or derivatives in British Columbia (BC)[1]. The BC Securities Commission has issued a cautionary advisory concerning Allstocknow, urging residents of BC to exercise prudence when engaging with firms that lack the necessary registration[1].
Customer Reviews
To gain a deeper understanding of the platform’s performance, we examined a variety of customer reviews. Feedback regarding Allstocknow is quite mixed. Some traders have reported positive experiences with the platform, highlighting its strengths. For instance, a Reddit user shared their positive encounter with Allstocknow, despite minor challenges along the way[3]. However, not all reviews are as glowing. Scam Detector has assigned Allstocknow a “deficient trusting rank,” indicating a degree of skepticism surrounding the platform’s legitimacy[5].
Conclusion
In summary, Allstocknow positions itself as a versatile trading platform, offering CFD trading services across an array of financial instruments. The platform’s website boasts a modern and user-friendly interface, and its trading conditions are indeed competitive. Yet, Allstocknow does fall short in terms of advanced features when compared to some of its competitors. Furthermore, the cautionary advisory from the BC Securities Commission raises questions about the platform’s regulatory standing.
Customer reviews of Allstocknow exhibit a mixed bag of experiences, with some traders commending the platform and others expressing concerns regarding withdrawals and customer support. Like any investment opportunity, it is imperative to exercise caution and conduct thorough research before committing your financial resources to Allstocknow.
Citations:
[1] BC Securities Commission – Allstocknow Cautionary Advisory
[3] Reddit – User’s Experience with Allstocknow
[5] Scam Detector – Allstocknow Trusting Rank
[6] Personal Reviews – Allstocknow Review
