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Cornerstone

United Kingdom|2-5 years|
Suspicious Scope of Business|High potential risk|

https://www.cornerstonefs.com/

Website

Rating Index

Contact

+44 (0) 20 3971 4750
info@cornerstonefs.com
https://www.cornerstonefs.com/
75 King William St London EC4N 7BE

Licenses

No valid regulatory information, please be aware of the risk!

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Warning: Low score, please stay away! 2
Previous Detection : 2024-07-15
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

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Cornerstone · WikiFX Survey

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Cornerstone · Company Summary

Cornerstone Review Summary
Founded 2010
Registered Country/Region United Kingdom
Regulation No Regulation
Payment Platform Cornerstone Global Payments Network
Currencies supported Australian Dollar, Canadian Dollar, Danish Krone, Euro, Hong Kong Dollar and so on
Regional Restrictions Available in Kenya, Namibia, South Africa, Canada, United States, Greenland, Mexico, China, Singapore, Japan, Thailand, Andorra, Bulgaria, Czechia, Denmark, France, Hungary, Latvia, Luxembourg, Netherlands, Slovakia, Sweden, Austria, Croatia, Estonia, Germany, Ireland, Liechtenstein, Malta, Norway, Romania, Slovenia, Switzerland, Belgium, Cyprus, Finland, Greece, Italy, Lithuania, Monaco, Poland, Portugal, Spain, Turkey, Bahrain, Qatar, UAE, Israel, Oman, Kuwait, Saudi Arabia, Australia, New Zealand
Customer Support Phone: +44 (0) 203 971 4865
Email: info@cornerstonefs.com
Contact Form: https://cornerstonefs.com/contact-us/
Twitter: https://www.twitter.com/fs_cornerstone
Linkedin: https://www.linkedin.com/company/cornerstonefs/

What is Cornerstone?

Cornerstone, founded in 2010 and headquartered in London, is an Electronic Money Institution that provides international payment and currency management solutions for businesses and individuals. They help businesses make payments to suppliers, buy property, and pay staff in different countries.

Cornerstone's provides various services backed by Cornerstone Global Payments Network, including international payments (send and receive payments in over 58 key currencies to 150+ countries), multi-currency accounts (hold and manage multiple currencies in one account), and foreign exchange hedging (protect your business from currency fluctuations).

It should be noted that Cornerstone currently lacks valid regulation, it is indeed a significant concern. Operating without proper regulatory oversight raises potential risks for clients. Individuals and businesses engaging with it should be cautious and aware of the regulatory landscape to ensure the security and legality of their transactions.

Cornerstone's homepage

Pros & Cons

Pros Cons
  • Support for multiple key currencies
  • No Regulation
  • Available in multiple countries
  • Multi-currency account

Pros:

  • Support for multiple key currencies: The availability of 58+ key currencies on Cornerstone Global Payments Network provides users with a broad spectrum of options for conducting international transactions and currency trading.

  • Available in multiple countries: The broad coverage of countries and regions supported by Cornerstone Global Payments Network, spanning Africa, the Americas, Asia, Europe, the Middle East, and Oceania. This extensive reach allows clients to conduct international transactions in diverse geographical areas, providing flexibility and convenience for businesses and individuals engaged in cross-border activities.

  • Multi-currency account: Whether youre a business looking to hold funds in multiple currencies or an individual, Cornerstone can help you manage, maintain, and distribute funds in up to 37 currencies in the multi-currency account.

Cons:

  • No Regulation: The absence of valid regulation for Cornerstone raises considerable concerns about the oversight and compliance mechanisms in place within the company. Regulatory frameworks in the financial industry are crucial for establishing and maintaining standards that ensure the security and fair treatment of clients.

Is Cornerstone Safe or Scam?

While Cornerstone offers a wide range of supported currencies and countries, which can be convenient for international transactions. It is important to note that Cornerstone currently lacks valid regulation, which is a significant concern. The absence of proper regulatory oversight in the financial industry can pose potential risks for clients. Regulatory frameworks are essential for ensuring the security, transparency, and legal compliance of financial institutions.

Without regulation, there may be uncertainties about the company's adherence to industry standards, customer protection measures, and financial stability. It is crucial for individuals and businesses to consider these factors when evaluating the safety and legitimacy of a financial service provider.

Payment Platform

Cornerstone provides international payment services powered by the Cornerstone Global Payments Network. The Cornerstone Global Payments Network is strategically designed to provide customers with extensive transaction capabilities on a global scale.

One of the key strengths of the Cornerstone Global Payments Network lies in its ability to facilitate transactions in 150 countries. The network spans a remarkable presence in 146 jurisdictions, offering companies a diverse range of locations to establish their operations.

Moreover, the network supports transactions in 58 key currencies, offering users a comprehensive suite of options for conducting international transactions and managing various currency-related aspects. This diversity in supported currencies enhances the flexibility and adaptability of the platform, allowing users to navigate the complexities of the global financial landscape.

Payment Platform

Accounts

Backed by Cornerstone Global Payments Network, Multi-Currency Account offered by Cornerstone is designed for international payments. It allows businesses to hold funds in multiple currencies and facilitates individuals in opening a virtual IBAN account. Users can manage, maintain, and distribute funds in up to 37 currencies across a broad range of countries.

Accounts

How to Open a Cornerstone Account?

Follow these steps to seamlessly set up your account if you want to open an account.

Step 1: Hit the ‘Sign up’ button at the top of the page.

Navigate to the official website and initiate the account creation process by clicking on the designated 'Sign up' button.

Hit the Sign up‘ button

Step 2: Provide the required information.

Fill in your essential details, including your first name, last name, email address, mobile number, then create a secure password and confirm it.

fill in required info

Step 3: Complete the registration.

Finalize the registration process by clicking the 'Create my login' button. This action submits your information and completes the account creation procedure.

Currencies Supported

Cornerstone's support for transactions in 58 key currencies, such as the Australian Dollar, Canadian Dollar, Danish Krone, Euro, Hong Kong Dollar, and others, underscores its commitment to providing users with a versatile and comprehensive suite of options for international transactions. This diverse range of supported currencies allows businesses and individuals to engage in cross-border activities with flexibility and ease.

For businesses involved in global operations, the ability to transact in multiple currencies is crucial for managing international payments, conducting trade, and navigating the complexities of diverse financial landscapes. Cornerstone's currency support empowers users to efficiently handle various currency-related aspects, including sending and receiving funds, mitigating currency risks, and optimizing financial strategies across different regions.

Currencies Supported

Customer Service

Cornerstone demonstrates a commitment to comprehensive customer support by providing clients with multiple channels for communication. This accessibility is crucial for addressing inquiries, resolving issues, and ensuring a positive user experience.

  • Phone: +44 (0) 203 971 4865;

  • Email: info@cornerstonefs.com;

  • Contact Form: https://cornerstonefs.com/contact-us/;

  • Twitter: https://www.twitter.com/fs_cornerstone;

  • Linkedin: https://www.linkedin.com/company/cornerstonefs/;

Conclusion

In conclusion stands as an Electronic Money Institution providing international payment and currency management solutions. Its offerings include support for transactions in over 58 key currencies through the Cornerstone Global Payments Network, making it a versatile choice for businesses and individuals engaged in cross-border activities. The availability of multi-currency accounts, allowing users to hold and manage funds in up to 37 currencies, adds a layer of convenience for those navigating diverse financial landscapes.

However, the absence of valid regulation poses a significant concern. Operating without proper regulatory oversight raises questions about the security, transparency, and legal compliance within the institution. Regulatory frameworks are vital for establishing industry standards and ensuring the fair treatment of clients. Potential users are advised to approach Cornerstone with caution, carefully considering the risks associated with the lack of regulatory backing.

Frequently Asked Questions (FAQs)

Q 1: Is Cornerstone regulated?
A 1: No, Cornerstone operates without valid regulation.
Q 2: In how many countries is Cornerstone available?
A 2: Cornerstone operates in various countries, including but not limited to Kenya, Namibia, South Africa, Canada, the United States, Mexico, China, Singapore, and many European nations.
Q 3: How many currencies are supported by Cornerstone?
A 3: Cornerstone supports transactions in over 58 key currencies, providing users with a broad spectrum of options for international transactions and currency trading.
Q 4: Does Cornerstone support online payments?
A 4: Yes. You can sign up for the online platform and make payments online.
Q 5: Is a Cornerstone Online Account free to sign up for?
A 5: Yes, it is completely free to create a Cornerstone Online Account and it comes with no obligations to make a transaction.

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. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Broker Information

Company Name

Cornerstone FS PLC

Abbreviation

Cornerstone

Regulatory Status

No Regulation

Platform registered country and region

United Kingdom

Phone of the company
  • +44 (0) 20 3971 4750

Twitter
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YouTube
Company address
  • 75 King William St London EC4N 7BE

Linkedin
WhatsApp

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Customer Service Email Address
  • info@cornerstonefs.com

Company Summary

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Changerx
more than one year
I recently tried out Cornerstone Brokerage for two days using their demo account, and my experience was quite disappointing. The simulation account provided a subpar user experience. Unfortunately, the overall impression was not favorable, leading to my decision to terminate my account without any further explanation.
2024-01-11 20:55
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