Score
ST5
United States|1-2 years| https://app.st5s.com/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
United States
1-2 years Suspicious Regulatory License Suspicious Scope of Business High potential riskUsers who viewed ST5 also viewed..
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Company Summary
| ST5 Review Summary in 10 Points | |
| Founded | Within one year |
| Registered Country/Region | China |
| Regulation | Unregulated |
| Market Instruments | Forex, Metal, Oil, CFD, Crypto |
| Demo Account | Not disclosed |
| Leverage | Not disclosed |
| EUR/USD Spread | Not disclosed |
| Trading Platforms | Not disclosed |
| Minimum Deposit | Not disclosed |
| Customer Support | None |
What is ST5？
ST5, a China-based brokerage firm, offers a diverse range of market instruments, encompassing Forex, Metals, Oil, CFDs, and Cryptocurrencies. Nevertheless, it's imperative to highlight that the broker currently operates without any valid regulatory oversight, which can understandably raise concerns among traders regarding the safety and security of their investments when trading with ST5.
In the upcoming article, we will systematically evaluate this broker across multiple dimensions to provide comprehensive and detailed insights. If you find this information valuable, we encourage you to read on. Following the review, we will offer a concise summary, allowing you to quickly grasp the distinctive features of the broker.
Pros & Cons
| Pros | Cons |
| • None | • Unregulated |
| • Lack of transparency on its unprofessional one-page website | |
| • No customer support channels | |
| • Negative reviews from its clients | |
| • Inactive claimed instruments |
ST5 presents a challenging picture for potential traders, with several cons outweighing any discernible pros.
Firstly, the broker operates without regulatory oversight, a significant concern for those seeking trustworthiness in their trading partner. Moreover, ST5's one-page website lacks transparency and professionalism, offering limited information. The absence of customer support channels is another drawback, as it hinders traders from seeking assistance when needed. Additionally, negative client reviews and the inactivity of claimed instruments, except for cryptocurrencies, further diminish the broker's appeal.
Is ST5 Safe or Scam？
When considering the safety of a brokerage like ST5 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: ST5 currently operates without valid regulatory oversight, a crucial consideration. Prospective clients should conduct thorough research and weigh the associated risks of trading with an unregulated broker. Regulatory supervision ensures adherence to industry standards and client protection. Traders should exercise caution and prefer regulated brokers prioritizing transparency and accountability.
User feedback: Two reports on WikiFX highlighting withdrawal issues should be viewed as significant warning signs. Before engaging with any broker or investment platform, conducting thorough research and due diligence is imperative to avoid making regrettable decisions.
Security measures: so far we havent found any security measures.
Ultimately, the decision to trade with ST5 rests on individual judgment. It is strongly encouraged to carefully weigh the potential risks and benefits before arriving at a final decision.
Market Instruments
ST5's one-page website, which appears to lack detailed information, claims to offer a range of market instruments, including Forex, Metals, Oil, CFDs, and Cryptocurrencies.
However, upon closer inspection, it appears that most of these instruments are listed as “closed” or unavailable, with only cryptocurrency trading currently active. The available cryptocurrency pairs are LTC/USD, BTC/USD, and ETH/USD.
Interested traders are advised to directly contact the broker for further clarification and to verify the status of these instruments, as the website's information may not be up to date or accurate.
User Exposure on WikiFX
The presence of two concerning reports on WikiFX, specifically regarding withdrawal issues, raises significant concerns for potential investors considering ST5. It is crucial that all traders exercise caution and conduct comprehensive research before committing to any financial investments with this broker.
To contribute to a safer trading environment, we encourage individuals who have encountered fraudulent practices or have fallen victim to broker scams to share their experiences in our 'Exposure' section. Your input is invaluable, and our dedicated team is fully committed to addressing these issues and advocating on your behalf to seek resolutions and hold wrongdoers accountable. Your participation can make a substantial difference in safeguarding the interests of fellow traders.
Customer Service
ST5 notably lacks any visible customer support channels, leaving traders with limited avenues for seeking assistance or addressing concerns.
This absence of customer support can be a significant drawback for traders who value prompt and accessible assistance when navigating the complexities of the financial markets.
It is advisable for potential clients to consider this limitation when evaluating ST5 as their trading platform and to explore alternatives that prioritize customer support and service.
Conclusion
ST5, a China-based brokerage, advertises a diverse range of market instruments, including Forex, Metals, Oil, CFDs, and Cryptocurrencies. However, upon inspection, only cryptocurrency trading appears to be active on its website.
Importantly, the broker currently operates without regulatory oversight, which raises concerns about its reliability and security.
Additionally, the one-page unprofessional website with limited information and two reports of withdrawal issues are also concerning signs.
Thus, Potential traders are urged to exercise caution and conduct thorough due diligence to assess ST5's credibility. It is advisable to explore alternative regulated brokerages that prioritize transparency, security, and accountability for a safer trading experience.
Frequently Asked Questions (FAQs)
| Q 1: | Is ST5 regulated？ |
| A 1: | No. It has been verified that this broker is currently under no valid regulation. |
| Q 2: | What kind of trading instruments does ST5 offer？ |
| A 2: | ST5 is a China-based brokerage firm claims to offer Forex, Metals, Oil, CFDs, and Cryptocurrencies as market instruments to traders. However, only crypto trading is active per their website. |
| Q 3: | Is ST5 a good broker for beginners？ |
| A 3: | No. It is not a good choice for beginners not only because of its unregulated condition, but also due to lack of transparency and negative exposures on WikiFX. |
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.
Keywords
- 1-2 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
News
Exposure Honey Trap? ST5 scam revealed.
A resident of Oman found himself ensnared in a web of deception spun by the brokerage firm ST5. His harrowing experience sheds light on the unscrupulous practices employed by certain entities in the financial industry.
2024-04-02 16:06
Exposure Warning! The trader suffers a big loss after investing in ST5.
Recently, a report to WikiFX involved a victim who fell prey to a seemingly promising trading platform known as ST5MAX, operated by USDC Investment Limited. In this article, we will delve into the details of the reported incident.
2023-09-15 18:22
Review 15
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Review 15
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FX695459
United States
I am losing a principal amount of 51 thousand dollars that I transferred through coinbase in BTC. There are many people like me in this situation (I know some of them personally). We were all trapped by this scammer and would be going through a lot if it weren't for .Forteclaim.com cybersecurity company. We would have lost our money permanently. Stay away from them.
Exposure
03-21
FX6845073
Singapore
They wouldn't let me withdraw money. A few days later they sent me a letter saying they would fix the withdrawal issue and would communicate with all customers, but until now nothing happened. Forteclaim.com is coming back to life. These are all scams, stay away from them.
Exposure
03-21
FX5743883
United States
In the beginning, in 2024, I met an old friend and started dating a Hong Kong girl, her name was Kelly. She asked me to invest Soontrade5 and said every transaction was unimportant. I want to withdraw at the end of the month, but my account is frozen because I am required to pay 20% tax. How can I get my money back?
Exposure
03-19
FX244677432
United Kingdom
A group was created on the platform, and the group was full of scammers. They are not urgent to withdraw money. If they are asked to pay taxes, they will do so quickly! This is all to deceive our real users and we cannot withdraw money.
Exposure
03-19
FX57947855
United States
In 2024 I tried to withdraw $24000 from this broker but my money was not released yet and I wanted to withdraw it due to the lack of proper license and registration for this crypto platform.
Exposure
03-19
ALIS4116
Taiwan
A friend introduced me to investing in this platform and said he had a way to help me use my small amount to make great profits. As a result, money was stuck in it with more than 76,000 US dollars. I was unable to withdraw money. The customer service said I had illegally profited from hacking, so they froze it. Is this reasonable?
Exposure
03-19
Lost my confidence
Oman
I was scammed by one Chinese girl , her name Is QIU, initially she chatted with me and sent messages to wrong person. Later she continues talked nice and to invest in Soon trade5 app. I invested 20000$, initially I withdraw 100 and later when I withdraw 10000$, they asked to pay platforms tax 12.5%. After paid 10000$ tax also unable to withdraw the money. I found this is scams and trapped me in this app. Please do not invest
Exposure
03-17
Magdy6349
Egypt
was scammed by a Chinese girl into investing in the ST5 application for $3750 At the beginning she was doing for me the trading and always ask to deposit more USD to increase the Profit. She showed me how to withdraw $100 and was received $80.00 to show me that everything is fine After I had a Fund of $3750 I tried to withdraw but they asked to pay 20% from my fund amount to allow me to withdraw my fund. Later I received from Google a message that they removed the ST5MAX app from my mobile as it's fake app and could steal my personal information such as bank accounts and passwords.
Exposure
02-03
Fabio369
Brazil
Soontransfer5, Soon transfer 5, ST5 is an investment app but it belongs to scammers, you invest and they no longer give your money back.
Exposure
01-13
CYU
Taiwan
due to the emotional inducement of a malaysian man, i deposited 99999usdt into soontrade5 account one after another. there was no transaction from 2023/11/13 to 2023/11/28. however, on 2023/11/28, i found that soontrade5 could no longer use customer service. shinding ltd found my account id, i found soontrade5 is ST5 , this app no longer exists, it has been renamed soontransfer5 app, please do not use this app
Exposure
2023-11-29
FX3410054081
Saudi Arabia
I was scammed by a Chinese girl into investing in the ST5 application for $4000
Exposure
2023-11-19
FX6845073
Singapore
Initially I invested 11000 usdt, the then asked for 1300usdt for registration, then another 3000usdt as they said the 3000 investment slot was full and I needed to go to the next band which is 6000. After the duration of 5 days of how long they take to return your investment they asked for another 8000usdt to release my funds, having doing that they then asked for another 3000usdt to make transfers, at this point I was convinced I've been scammed.
Exposure
2023-11-12
Annie945
Taiwan
In the past, small-amount withdrawals were possible, but large-amount withdrawals were said to have to queue up. Unless you deposit again and pay 3888 to become a member, then you can withdraw money immediately. Now all the money is inside. Can't ask customer service to cancel large-amount withdrawals.
Exposure
2023-11-11
mandy1738
Taiwan
Use men to lure users into deposit operations, and refuse withdrawal applications under the pretext of re-deposit after making profits. The man in the picture, Matthew, blocked me afterwards. The fraudulent platform used cooperative fraud, and I was defrauded of 1.35 million Taiwan dollars.
Exposure
2023-08-07
Annie945
Taiwan
I can’t withdraw money and I don’t know what to do. Now even the customer service doesn’t respond. It’s been almost three months. Is there any way to get the money back?
Positive
2023-11-11