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Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints!

SST

United Kingdom|Scam Brokers|
5-10 years|Suspicious Regulatory License|Counterfeit MT4/5|Regional Brokers|Suspicious Overrun|High potential risk|

https://www.china-statestreet.com/home/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Counterfeit

6
Server Name
SST-Server MT4
Server Location China

Contact

4008585875
info@sstforex.com,account@sstforex.com
https://www.china-statestreet.com/home/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Chinese (Simplified)

4008585875

Broker Information

More

Company Name

State Street Trustees Limited

Company Abbreviation

SST

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

This platform is a Ponzi Scheme. Please stay away! 7
Previous Detection : 2024-03-29
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

WikiFX Verification

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Others

Zhang Xiaoyong, boss of SST , has absconded.

Current website: (http://www.statestreetforex.com) Previous website: (https://www.china-statestreet.com) It is a scam platform. My name is Jiao Meihua. I deposited 170,000 US dollars on total in this platform . My trading account is 7717508. This account was opened with my uncle’s identity information. (Chengdu Taiyi Yawei Business Information Consulting Co., Ltd. Appeared and the legal person is Zhang Xiaoyong, The company's is registered in Longquan, Chengdu.) By querying, I knew that Zhang Xiaoyong is from Tianyuan District, Guangyuan, Sichuan. I saw the photo of his boss in his WeChat. Someone in the group also confirmed. There was a China Mobile phone number (159 ***** 617) in the name, which was turned off. But his WeChat , registered by the number, is still sending moments.I found a QQ number bound to this mobile phone number, unfortunately, I can’t add it anymore.There is a QQ number of 61 ***** 17 which belongs to the company. I added this QQ easily.Through group, I figured out that the company has absconded in April. Their license is clone.Some people in this group said the boss of the platform has been using this BYD S6 off-road vehicle for 14 years. But the owner of license Chuan A.Z763Z is Zhang Li, whose current address is No. 2008, 20th Floor, Building 1, No. 2 Jingcui West Road, Chenghua District, Chengdu. She never leak any information,let alone her boss. Her ID card is 51082 ****** 608240X. More exposures should be posted to avoid more victims being cheated. Their former company was Chengdu Daofu Enterprise Management Co., Ltd., and the legal person is Gao Meng. It was registered at No. 1, Attachment 1, No. 5, Xiaotian East Street, Wuhou District, Chengdu. Currently, the company is in a suspended state.Then I was given a business license called Sichuan Yongzhi Financial Guarantee Co., Ltd., and the corporate legal person is Du Gang. The registered address is at No. 3 Wan'an North Street, Jitou Town, Wuhou District, Chengdu. But others say that the company had collapsed 2 years ago, so the two business licenses given to me were all fake. Hope you avoid being cheated. Its so-called business including crude oil, stock index, currency, etc. are all fake.

GUAOPINBODEXUELANG
2020-01-07 16:24
Others

The boss of scam SST has run away.

I want to report SST in real-name. Current website: (http://www.statestreetforex.com) Previous website: (https://www.china-statestreet.com) It is a scam platform. My name is Jiao Meihua. I deposited 170,000 US dollars on total in this platform . My trading account is 7717508. This account was opened with my uncle’s identity information. (Chengdu Taiyi Yawei Business Information Consulting Co., Ltd. Appeared and the legal person is Zhang Xiaoyong, The company's is registered in Longquan, Chengdu.) By querying, I knew that Zhang Xiaoyong is from Tianyuan District, Guangyuan, Sichuan. I saw the photo of his boss in his WeChat. Someone in the group also confirmed. There was a China Mobile phone number (159 ***** 617) in the name, which was turned off. But his WeChat , registered by the number, is still sending moments.I found a QQ number bound to this mobile phone number, unfortunately, I can’t add it anymore.There is a QQ number of 61 ***** 17 which belongs to the company. I added this QQ easily.Through group, I figured out that the company has absconded in April. Their license is clone.Some people in this group said the boss of the platform has been using this BYD S6 off-road vehicle for 14 years. But the owner of license Chuan A.Z763Z is Zhang Li, whose current address is No. 2008, 20th Floor, Building 1, No. 2 Jingcui West Road, Chenghua District, Chengdu. She never leak any information,let alone her boss. Her ID card is 51082 ****** 608240X. More exposures should be posted to avoid more victims being cheated. Their former company was Chengdu Daofu Enterprise Management Co., Ltd., and the legal person is Gao Meng. It was registered at No. 1, Attachment 1, No. 5, Xiaotian East Street, Wuhou District, Chengdu. Currently, the company is in a suspended state.Then I was given a business license called Sichuan Yongzhi Financial Guarantee Co., Ltd., and the corporate legal person is Du Gang. The registered address is at No. 3 Wan'an North Street, Jitou Town, Wuhou District, Chengdu. But others say that the company had collapsed 2 years ago, so the two business licenses given to me were all fake. Hope you avoid being cheated. Its so-called business including crude oil, stock index, currency, etc. are all fake. Let’s get united to get the money back. If the above content is false, I am willing to pay legal responsibility. I hope that my friends will not be deceived on SST .

DATANGCHENGSHI
2019-12-31 14:59

SST · Company Summary

Note: SSTs official site - https://www.china-statestreet.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

SST Review Summary in 10 Points
Founded 5-10 years
Registered Country/Region United Kingdom
Regulation Suspicious FSPR, FCA, NFA clone
Market Instruments Not disclosed
Demo Account Not disclosed
Leverage Not disclosed
EUR/USD Spread Not disclosed
Trading Platforms MT4
Minimum Deposit Not disclosed
Customer Support Email, Phone

What is SST?

SST, fully known as State Street Trustees Limited, is a UK-based global firm that provides online trading services to its clientele. However, SST currently holds suspiciously clone licenses from the Financial Service Providers Register (FSPR) with number 29468, the National Futures Association (NFA) with number 0191087, and the Financial Conduct Authority (FCA) with number 186237. This raises alarm bells when it comes to trading securely. Additionally, SST has been labeled as an illegal and scam broker on WikiFX.

In the subsequent sections, our goal is to dissect and meticulously evaluate this broker's features from various standpoints, delivering clear, well-organized, and user-friendly details. If you find this intriguing, we recommend you to continue reading. Concluding the article, a concise summary will be shared, allowing you to quickly and comprehensively understand the defining attributes of the broker.

Pros & Cons

Pros Cons
• MT4 trading platforms • Suspicious FSPR, FCA, NFA clone
• Website non-functional
• Categorized as illegal and scam broker on WikiFX
• Lack of transparency
• Negative reviews from their clients

When analysing SST Limited, it is apparent that the company provides its services through the MT4 trading platform, which is a widely recognized positive aspect.

However, numerous negatives counterbalance this advantage. Notably, SST holds questionable clone licenses from regulatory bodies such as the FSPR, FCA, and NFA, which raises significant questions about the safety and legitimacy of trading with them. The broker's website is also non-functional, reducing the transparency and accessibility of its operations. SST is highlighted as an illegal and scam broker on WikiFX, casting further doubts about its legitimacy. In addition, the lack of transparency and the prevalence of negative reviews from its clients significantly damage the broker's reputation. Therefore, the drawbacks considerably outweigh the benefits, making SST a potentially risky trading option.

Is SST Safe or Scam?

When considering the safety of a brokerage like SST or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

  • Regulatory sight: The status of its FSPR (Financial Service Providers Register) license no. 29468, NFA (National Futures Association) license no. 0191087, and FCA (Financial Conduct Authority) license no. 186237, are suspected to be clones, alongside its classification as an illegal and scam broker on WikiFX, unquestionably raises concerns about the security of trading with SST. Additionally, the unavailability of their official website indicates a potential cessation of operations. Collectively, these elements intensify the overall risk factors tied to investing through this platform.

suspicious clone FSPR license
suspicious clone NFA license
suscipious clone FCA license
  • User feedback: The presence of four reports on WikiFX detailing issues with withdrawals and a run-away boss should definitely be seen as potential red flags. It is always recommended that anyone considering engaging with a broker or investment platform conducts thorough research and due diligence to avoid making decisions they may regret.

  • Security measures: So far we cannot find any security measures info on Internet for this broker.

In the end, the choice to trade with SST is an individual one. It's crucial to thoroughly evaluate the potential risks and rewards before reaching a conclusion.

Trading Platforms

Trading Platforms

SST leverages the widely respected MT4 trading platform, which is compatible across various devices, including Windows, Desktop, iOS, and Android.

This platform, celebrated for its intuitive interface, provides traders the convenience of initiating and ending trades, setting stops and entry limits all with a single click. It facilitates direct orders and modifications and allows the setting of stop-loss boundaries. In addition, the MT4 platform boasts a robust charting package, enabling in-depth market analysis options.

User Exposure on WikiFX

On our website, you will notice four reports on WikiFX relating to issues with withdrawals and an absconding boss, which undoubtedly constitute a serious warning sign. We strongly recommend all traders to thoroughly examine all available information before risking their hard-earned assets. Our website, serving as a comprehensive knowledge base, is aimed at helping traders in making informed decisions. If you have been subject to any fraudulent activities perpetrated by brokers or have fallen prey to such schemes, we strongly encourage you to report such incidents in our 'Exposure' section. We value your feedback greatly. Our committed team is devoted to handling these cases and is working hardly to provide solutions for these difficult situations.

User Exposure on WikiFX

Customer Service

SST's customer support is quite limited, providing only telephone and email as methods of communication. This restricted approach may pose challenges for immediate or diverse customer service needs.

Phone: 4008585875.

Email: info@sstforex.com; account@sstforex.com.

While these traditional methods might still provide some level of support, it might not cater to the needs of clients who prefer more immediate or diverse forms of assistance.

Conclusion

SST, an online brokerage firm situated in the UK, claims to offer trading services. However, its suspicious clone licenses from FSPR, FCA, and NFA send up immediate warning signals. Regulated brokers are obligated to align with specified financial regulations, offering a safe guard to clients. Being flagged as an illegal and scam broker on WikiFX amplifies the risk quotient for traders, subjecting them to possible deceitful activities.

Further highlighting their shortcomings, SST's non-operational website and four reports of withdrawal troubles and a run-away boss on WikiFX, suggest a lack of diligence and professionalism, promoting skepticism about their service dependability.

Therefore, individuals considering engagement with SST are urged to proceed with caution and consider other regulated alternatives that prioritize transparency, security, and accountability.

Frequently Asked Questions (FAQs)

Q 1: Is SST regulated?
A 1: No. It has been verified that this broker is currently under FSPR, FCA and NFA clone condition.
Q 2: Is SST a good broker for beginners?
A 2: No. It is not a good choice for beginners. Not only because of its suspicious clone regulatory condition, but also because of the lack of transparency and negative reports, along with the categorization of illegal and scam broker on WikiFX.
Q 3: Does SST offer the industry leading MT4 & MT5?
A 3: Yes, it offers MT4 platform.

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.

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