Overview of STK
STK is a forex broker established in 2021, headquartered in the United States, and offers trading on a variety of major currency pairs via the MetaTrader 5 platform. It caters to traders with different experience levels by providing a standard floating pips account, which features competitive leverage up to 400 times and spreads starting from 1.6 pips. The broker supports both desktop and mobile trading, ensuring accessibility and convenience for its users. However, STK's claimed regulatory status under the NFA is under scrutiny, as it is suspected of using a cloned license number, which raises concerns about its legitimacy and the safety of client funds.
Is STK Legit？
STK claims to be regulated by the United States NFA (National Futures Association) under license number 0530061. However, there are suspicions that this license number may be a clone of a legitimate registration, raising concerns about the authenticity of its regulatory status. Potential clients should be cautious and verify this information independently to avoid risks associated with unregulated or falsely represented entities.
Pros and Cons
STK positions itself as a versatile trading platform offering services through MetaTrader 5, accommodating various devices and providing access to major forex markets with attractive leverage and spread options. It supports multiple deposit and withdrawal methods to facilitate trading activities. Despite these operational features, the glaring concern lies in its regulatory status, with serious allegations of using a cloned NFA license number. This casts significant doubts on the broker's reliability and safety, making it a risky choice for traders who prioritize security and regulatory compliance.
Trading Instruments
STK offers trading on major currency pairs including EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD, USD/CAD, USD/CHF, EUR/JPY, GBP/JPY, AUD/JPY, EUR/GBP, and EUR/CHF.
Account Types
STK offers a Standard floating pips account with features including leverage options from 100 to 400 times, and trading in foreign exchange and commodities. The account supports major currencies like USD, EUR, and GBP, allows trades with a minimum lot size of 0.01 and a maximum of 50 lots per trade. It provides a minimum spread of 1.6 pips and uses the MetaTrader 5 platform, enabling the use of Expert Advisors (EAs) for automated trading. Customer service support is also available.
How to Open an Account
To open an account with STK, follow these steps.
Visit the STK website. Look for the “ACCOUNT” button on the homepage and click on it.
Sign up on websites registration page and submit.
Receive your personal account login from an automated email
Log in
Proceed to deposit funds to your account
Download the platform and start trading
Leverage
STK offers leverage options ranging from 100 to 400 times for trading.
Here is a comparison table of maximum leverage offered by different brokers:
Spreads and Commissions
STK offers spreads starting from a minimum of 1.6 pips. The broker does not explicitly mention commissions, suggesting that costs may primarily be spread-based.
Deposit & Withdrawal
STK offers the following deposit and withdrawal methods:
Deposit Methods:
- Bank Remittance: Available in USD, with a processing time of 1-5 working days. Costs vary depending on the bank.
- Micro-online Banking: Supports USD transactions with a minimum deposit of $500 and a maximum of $20,000. Transactions are generally processed within 1 working day and are free of charge.
Withdrawal Methods:
- Bank Remittance: Available in USD with a minimum withdrawal of $50. Processing takes 1-5 working days and incurs a fee of $20 per transaction.
- Micro-online Banking: Supports USD transactions with a minimum withdrawal of $50. Withdrawals take 2-7 working days and are free of charge.
Both deposit and withdrawal processes prioritize requests made before 2 PM London time on weekdays, processing them the same day or the next working day. Withdrawals must be made to personal bank accounts only; third-party payments are not accepted. A withdrawal fee of $10 may apply for wire transfers, but this fee can be waived under certain conditions.
Here is a comparison table of minimum deposit required by different brokers:
Trading Platforms
STK offers the MetaTrader 5 platform, which is available on both mobile and desktop terminals. This allows traders to access a wide range of trading tools and features from various devices.
Customer Support
STK's customer support is available through multiple channels. They can be contacted at their office located at No. 1601, 16th Floor, Unit 2, Building C2, Rongke Zhigu, 555 Wenhua Avenue, Hongshan District, Wuhan, Hubei Province. For inquiries, customers can email them at info@stklimited.com or cs@stklimited.com, or call at (8627) 8773 8199.
Educational Resources
STK provides a variety of educational resources through its Forex School, including tutorials on forex knowledge, transaction exposure, and the advantages of EA (Expert Advisor) trading. Additional resources include e-books, a glossary of technical terms, forex trading tutorials, and guides on economic indicators.
Conclusion
STK offers a range of services via the MetaTrader 5 platform, including competitive leverage and spreads on major forex pairs. The platform is accessible on both mobile and desktop, catering to traders of various experience levels with educational resources and support options. However, the significant downside to STK is the cloud of suspicion over its regulatory status, which involves a potentially cloned NFA license. This raises serious concerns about the safety of trader funds and the broker's overall reliability. Traders should weigh these operational benefits against the potential risks associated with an unverified regulatory framework before deciding to engage with STK.
FAQs
Q: What is STK's regulatory status？
A: STK claims to be regulated by the United States National Futures Association (NFA) under license number 0530061. However, there are allegations that this license number may be a clone of a legitimate registration, which casts doubt on the broker's regulatory compliance.
Q: What trading platform is used by STK？
A: STK utilizes the MetaTrader 5 platform for all trading activities, which is available for use on both mobile and desktop systems.
Q: How can funds be deposited or withdrawn from STK？
A: Deposits and withdrawals at STK can be processed via bank remittance or micro-online banking, with specific terms regarding minimum and maximum transaction limits.
Q: What kind of customer support does STK provide？
A: STK offers customer support through multiple channels including email, phone, and a physical office location, aiming to assist clients with their needs.
Q: What educational resources does STK offer to its clients？
A: STK provides a comprehensive educational suite that includes a Forex School, e-books, various trading tutorials, and insights on economic indicators.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then.
start to write first comment