With one of the domains already shut down and rumors about shutting down the current one as well, we’ve decided to research Status Markets broker. The company proved itself as a fraud. However, we decided to do a full check and present you with all the facts, including ways to get your money back.
Read our trusted Status Markets review to find out why not to trade with this brokerage.
- Before we move forward, we encourage you to read our recently updated AG Markets and Primefin broker reviews.
|Broker Status:||Offshore Scam Broker|
|Regulated by:||Unlicensed Brokerage|
|Scammers Websites:||StatusMarkets.com and www.status-mark.com|
|Operating Status:||Active Forex Trading Scam|
|Blacklisted as a Scam by:||FCA|
|Broker Owner:||MarCo Global Projects Ltd|
|Headquarters Country:||Marshall Islands|
|Online Trading Platforms:||WebTrader, MT4|
|Broker Deposit Bonus:||Not Available|
|Crypto Assets:||Not Available|
|Available Trading Assets:||Forex (FX), Commodities, Indices, Stocks|
|Free Demo Account:||Yes|
|Accepts US Clients:||US traders are not accepted|
|Global Fraud Protection Experts’ Verdict:||Don’t Invest in This Scam Broker!|
Is Status Markets Safe? – The Importance of Broker Regulation
As you’ve heard many times for sure, the first thing to check about the broker is their regulation. If the company is not adequately regulated, you have no guarantees for your funds. That’s why we started off our reviews with the question: Is Status Markets regulated and by whom?
What’s Wrong With Status Markets License?
The official owner of the Status Markets brand is MarCo Global Projects Ltd from the Marshall Islands. Since GLOFSA is a very lousy regulator, we’ve decided to check if Status Markets ever registered as a brand here or with Tier1 regulators in the countries of service.
We haven’t found Status Markets regulation after researching GLOFSA, FCA, ASIC, BaFin, and more. It implies we’re dealing with a scam brokerage, as suspected from the beginning of this review. Stay away from Status Markets forex broker and their scams.
Scam Warnings Against Status Markets
Unsurprisingly, broker has been blacklisted due to illicit activities. Since financial regulators all over the globe are trying to fight offshore scams, they’re publishing official warnings whenever they receive complaints, as was the case with Status Markets.
Warning Issued by FCA
The official warning against the broker came from the UK regulator, the Financial Conduct Authority. According to them, the Status Markets trading scam is widespread in the UK, and anyone who has been defrauded should report it immediately.
Status Markets Login Problems – One Of The Signs Of A Scam
Among other things, login issues could be a potential red flag when dealing with offshore scammers. Since your access to funds is directly related to your access to a trading account, you cannot view your funds or submit a withdrawal request if you cannot log in.
As per broker reviews, clients are reporting login issues whenever they ask for a payout. Once they log in, all of their funds are gone, and the broker blames it on technical errors or the client’s internet connection.
If login issues occur and it happens for more than a couple of hours, contact us immediately before it’s too late.
Supported Trading Platforms – Available Trading Software
If there’s one good thing to mention, it’s the Status Markets trading platform. The broker offers a web trader, but besides, there’s an MT4. As it’s the best platform in the industry, we praise the Status Markets broker for providing it.
You will see a small TradingView chart icon in the bottom right corner that will redirect you to the broker’s web trader from the main page. If you prefer to use an online platform instead of downloading and installing an app, this could be a perfect solution for you. Bear in mind that a web trader has fewer indicators and charts, and it’s less secure than MT4.
If you want to open a Demo account, it’s only possible through a web trader.
MetaTrader 4 Platform
As mentioned, we were pleased to see that Status Markets offers MT4 as well. It’s a platform with the highest number of charts, indicators, order, and execution types. It’s user-friendly and comes as an app you can install on your Windows or Mac device for convenient use.
Status Markets App – iOS & Android Trading
Besides the desktop version, MT4 is available as an app for Android and iOS as well. On the broker’s website, you will find a link for app download. Remember that mobile apps usually have fewer charts and indicators, but you will still have all your trading history and real-time prices available.
Status Markets Range of Trading Instruments & Markets
As per the broker’s website, there are over 100 trading assets, including:
- Currency pairs
There’s no place where we could verify the list of the assets or their diversity, but having only 100 of them doesn’t sound competitive. Moreover, knowing that you’re dealing with offshore fraud makes it irrelevant. You should not open an account with the broker anyways.
Status Markets Trading Accounts
There are 3 account types according to our Status Markets review:
The main difference is in perks such as leverage that goes up to 1:400, swap discount, and a dedicated account manager. Status Markets’ minimum deposit is $250, while there’s no information on how much you should invest to upgrade your account. However, an Islamic account is available only for those who upgrade to the Platinum account, the priciest one. We find this discrimination unfair.
Scammed By Status Markets Broker? – Talk To Our Experts Today!
Suppose you have been dealing with Status Markets and want to get your funds back. Most likely, it won’t be a straightforward process, such as submitting a withdrawal request. Unfortunately, Global Fraud Protection recently received numerous complaints from the broker’s victims and assisted many in filing a dispute.
You’re not alone. Contact us via online chat and let us help you. Book a free consultation, talk to our experts, and let’s find a way to get your hard-earned money back!
Don’t Let the Scammers Go Away for Free!
What Is Status Markets, And Should I Invest Money In It?
This is a fraudulent offshore trading broker not worth your time or money.
Are My Funds Safe With Status Markets?
Since the UK FCA has blacklisted the broker, your funds are not safe.
Does Status Markets Offer a Demo Account?
Yes, broker offers a Demo account on a web trader for all the clients.