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STEP Markets

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Operating status: SCAM

Website: https://www.stepmarkets.com/

Broker violations and abnormal records
  • 2024-04-16 BrokersView has reviewed that STEP Markets is an unregulated broker

    According to its website, it claims to provide trading services such as foreign exchange, stock indexes, and cryptocurrencies. It is operated by STEP Markets LLC, and the company is registered in Montenegro. Upon investigation, no matching information was found in the Capital Market Authority of Montenegro (SCMN).

    In essence, STEP Markets is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.

    STEP Markets appears to be a scam.

    According to its website, it claims to provide trading services such as foreign exchange, stock indexes, and cryptocurrencies. It is operated by STEP Markets LLC, and the company is registered in Montenegro. Upon investigation, no matching information was found in the Capital Market Authority of Montenegro (SCMN).In essence, STEP Markets is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.STEP Markets appears to be a scam.

Related Complaints

Q&A

Is STEP Markets registered?

Guillem Quiones
Montenegro
2024-06-27
ANSWER STEP Markets appears to be a broker not registered with any financial regulators.The website of STEP Markets LLC advertises trading services in areas like forex, stock indices, and cryptocurrencies. The company purports to be registered in Montenegro. However, a thorough search did not yield any corresponding entries in the Capital Market Authority of Montenegro (SCMN) records.Not having the required license from any relevant financial regulators, STEP Markets LLC is not permitted to solicit investors. Investors should stay away from it to avoid potential risks like fraud and identity theft. To have a safer trading environment, it is recommended to opt for fully regulated brokers.
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My withdrawal request is stuck. Is STEP Markets a scam?

Kostas Anagnostakis
Gambia
2024-04-18
ANSWER Regrettably, there are no indications that STEP Markets is subject to any regulatory supervision. Moreover, BrokersView has been receiving complaints from its customers who are seeking assistance in obtaining refunds.Despite claiming to be registered in Montenegro, the broker is not licensed by the country's Capital Market Authority (SCMN). This implies that it is operating within the country without the necessary authorization.Given its unregulated status, STEP Markets presents significant risks, including fraud and identity theft. Investors who engage with this unlicensed broker are not safeguarded by regulations should any issues arise. Consequently, we strongly advise investors to steer clear of STEP Markets. For a more secure trading environment, we recommend choosing brokers that are fully regulated.
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