BarclayStone(Br-stone.online) is a strange offshore broker that operates in a mysterious manner that is concerning to say the least. The owners or the parties operating this platform are unknown and there are a lot of things about them that act like a red flag.
For starters, transparency is not present, legal documents are not found. Moreover, even the policies regarding deposits and withdrawals along with trading fees are not clearly outlined.
In other words, the chances of anyone making money with them is almost non-existent and not to mention, the longevity of this firm also does not look great. Trading is more accessible to the retail side now.
While the financial markets are a Godsend for skilled traders, one needs to be adequately prepared and more importantly, you should choose a good broker. Ideally, retail traders should always stick with regulated entities or the odds will be stacked against them. If you are looking for complete information on BarclayStone, then stick with us till the end.
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BarclayStone Legal Stance
BarclayStone is operated by Barclay Stone Limited which is registered in St. Lucia. Technically, they are not regulated and as far as security of a client’s money goes, this firm is not the kind of thing one should trust.
Every year millions of dollars are lost to offshore brokers and due to the way loose regulation exists in certain regions, the crooks are able to get away with almost anything. If you are serious about becoming a trader, then do not forget to put in time to research the broker that suits your trading style.
Preferably, look for brokers with valid licenses that offer negative balance protection and tight spreads. Offshore brokers might offer more benefits like matching deposit bonus or high leverage, but it is not worth it due to the uncertainties present. After all, you cannot grow wealth without ensuring security of funds, right?
This firm is apparently operating from the United Kingdom. They have not published their office hours or response time. However, there are few contact details put up by them and they will be listed below. We did not find any information about their actual whereabouts.
The ways of getting in touch with them include email, telephone and contact form. Looking at the way they are conducting their operations, something seems to be fishy about them. Otherwise, why would they shy away from revealing their address?
- Phone – +44 122 445 9822
- Email – firstname.lastname@example.org
BarclayStone Trading Platform
BarclayStone offers a web trader and MT5 trading platform. They claim to offer a free demo account, but we weren’t able to test it out as the interface forced us to sign up with them before giving us access. Obviously, we are not naive enough to trust them with our personal details. We have no clue about the spreads and swap rates.
Web trader is not sophisticated which means professional traders will be annoyed to use it to say the least. The MT5 platform is good and it supports a lot of things such as EA trading, custom indicators. However, as we do not know the liquidity providers and the execution speed of this broker, it will be a gamble if you deposit with them.
Swap rates are also a grey area and if you are a positional trader, then it is impossible for you to know whether you will get your money’s worth with them. Also, we do not know whether they restrict certain types of trading strategies such as HFT and scalping. All in all, it is a very confusing portal that lacks in almost all aspects.
Leverage and other conditions
This platform offers upto 1:400 leverage. Asset class offered is also adequate and it involves cryptocurrencies, stocks and currencies. We do not know whether high leverage is offered to every asset, so it might be worth it to speak with the customer support before making any move.
Information on dormant accounts and other trading costs are also not mentioned. While the leverage they offer might be attractive, do not get tricked by it. Keep in mind that high leverage carries high risk and unless you have a solid plan, you should not mess around with it.
After taking a close look, we are indeed sad to report that there is nothing about them that provides them any sort of edge over the competitors in the sector.
BarclayStone Account Types
There are 7 account types offered by this broker. To open an account with them one needs around $250, but if you want added benefits, then it can easily go over $25,000. There are tons of regulated brokers that offer the same service for less than one tenth of the price.
Account types that require more capital provide trading signals and personal 1 on 1 classes as well. However, as the signals are not audited in any way, we cannot comment on them. Trading signals are a dangerous tool and you should always be aware of the risks beforehand.
Things like win ratio, drawdown percentage should be estimated beforehand or else chances are you might lose everything. Lastly, this broker also talks about paying certain interest on the capital for a few account types. Again, due to lack of clarification, we do not know whether this is something good or just another gimmick.
Deposits and Withdrawals
Minimum capital required to get started with BarclayStone is $250. The supported payment methods are debit and credit cards. Terms and conditions regarding funding can change at any point and just like most unregulated entities, they have the upper hand when it comes to changing any policy they want without providing prior notice.
Dormant fee is also high and it amounts to around $100 monthly. Processing time is not clear and the minimum withdrawal amount is also not specified. They do provide matching deposits, but be careful with it and read the terms and conditions completely before pulling the trigger.
After all, bonuses are meant to increase their odds, not yours right? All in all, the conditions created by them are not encouraging traders in any way.
BarclayStone User Feedback
This broker flaunts positive comments on their platform. The narrative is tightly controlled by them and it becomes obvious if you take a look at the feedback section. Nonetheless, do not fall for it because it is most probable fake. Moreover, the identities of the so-called users are also next to impossible to verify.
As this platform does not get much traffic, there is no information or discussions about them on third party forums. The crumbled pieces present in the user review aspect is a red flag and as such, you should always be very conservative with them.
At the end of the day, we cannot possibly trust a firm that lies about most of the things associated with their business model.
Is BarclayStone a Scam?
BarclayStone may not be an outright flyby scam, but it does show a lot of traits that are beyond dangerous. They are lead from offshore locations, the trading costs are high, the conditions are not clear. Plus, policies can be changed by them as and when they want.
Moreover, they even lack user reviews. So, on what basis, can you possibly trust them with your money? As the risk exposure is way off the charts, it makes the most sense to simply walk away from them.
This broker is not something you should be excited about, they lie about most of the things about themselves and they do seem to have tons of conflicts of interest with their clients.
If you have already lost money to them, then reach out to us immediately and we will help you through the recovery process for free. Our goal is to educate the retail side and put an end to scams by raising awareness.
Kindly share your opinion on BarclayStone by commenting below.