Brokers Station Review
Brokers Station might look like a legit brokerage, but when you investigate closer you will find just another fraud. Without being licensed by any internationally recognized regulatory body, Brokers Station has a very questionable reputation. It seems that the company does not value the transparency much. For this reason, you will not find any specific information about the company’s activity, management board info and so on.
We definitely discourage you from signing up with Brokers Station. However, if you still want to know more about this broker, then welcome to our Brokers Station review.
Opening an Account
Registering an account is quite quick and easy at Brokers Station. Although this might seem as an advantage, it is not in fact. This broker is not interested in delivering the high-quality standards of trading to the customer. First of all, there are only 3 account currencies available – USD, EUR and GBP. Secondly, the broker does not try to validate your background and previous experience with an aim to provide the most suitable products.
Instead, it merely pushes you to choose between several account types. Generally, there are five live accounts and a free demo in access. All trading is conducted either on MetaTrader 4 or on the specialized Brokers Station web-based platform. Brokers Station review identified that the available instruments include FX, CFDs on Commodities, Indices and Stocks.
The Description of Trading Accounts at Broker Station
The first account to mention is called Trial. As the name suggests, most of the features supplied by Brokers Station Forex are disabled here. So, for the small deposit of $250, you may get an access to the binary trading, up to 10% deposit bonus, social trading, economic calendar tips, pro chart station and 1 on 1 coaching. The withdrawal processing time is claimed to be 5 business days.
Next comes Conservative account. It requires the minimum deposit of $1,000 to be opened. Conservative offers its owners the trading coverage of binary options and Forex with the Shared Wallet feature, leverage up to 1:200, deposit bonus up to 25%, spreads from 3.3 pips and the access to the glossary. All other features are the same as in Trial.
Although this broker is a market maker, the third account is called ECN. This account has a complete focus on Forex trading, hence binary options are not available. New features include the floating spreads from 0.3. (though instead there should have been commissions if the broker was a true ECN), leverage up to 1:400, deposit bonus up to 45%, partial access to webinars, personal strategy advisor and analyst floor support. This account, however, needs the generous minimum deposit of $5,000. The withdrawal processing time is reduced to 4 business days.
The next account in our list is International, which can be opened for depositing $15,000 on brokersstation.com scam website. Being 3 times more expensive than ECN account, this one does not offer a certainly better functionality. Apart from all previously mentioned features, International account offers static spreads from 2.2 pips, deposit bonus up to 35%, an unlimited access to webinars and withdrawal processing for 3 business days. That’s it.
The VIP requires $30,000 deposit to be opened. The account offers fixed spreads of 0.1 pip, huge leverage up to 1:1000 and the deposit bonus up to 65%.
Brokers Station Reviews: Education
Perhaps the education section is more or less okay on Brokers Station website. The broker provides access to various trading-related videos, tutorials, strategies, e-books and the glossary.
The customer support on Brokers Station scam site can be reached via three communication methods:
- Live chat
The indirect support is currently unavailable, as the FAQ is still in development.