StateHills Review by Scam Helpers Team
StateHills may seem like a sensible alternative for both active traders and casual investors, given that it is advertised as a top-tier broker serving traders for more than 17 years. StateHills claims to be a Swiss business located in Worbstrasse 237 3008 Bern, Switzerland and offers a variety of financial assets. They lure traders by claiming to provide everything a trader could need for a profitable trading experience, including a very consumer-friendly interface, great analysis tools, and minimal costs.
We then learned that the business was neither registered nor licensed in Switzerland or anywhere else but is still operating. Even on their website, statehills.com, it doesn’t say that they are licensed by the Swiss Financial Market Supervisory Authority.
When the Swiss Financial Market Supervisory Authority began to oversee the forex market, all brokers must hold a valid license from them. Besides, StateHills was blacklisted by three regulators, the Swiss Financial Market Supervisory Authority (Switzerland), Federal Financial Supervisory Authority (Germany), and Financial Market Authority (Austria).
We know for sure that StateHills is just another unlicensed broker who tries to get people to buy from them by making big claims that are all lies. Keep in mind that working with unregistered, unregulated brokers could easily result in you walking away empty-handed.
Warning signs of StateHills broker
After taking a look at their website, we found numerous warnings that should be enough for you not to invest in them. Some of the reasons why we include StateHills as an unregulated broker.
StateHills Review: Regulation And Safety Of Funds
Being an unregulated firm is the worst thing, and it makes you an exploitative cheat. StateHills is a scam, and your money is at risk.
By investing your money in an unregulated and unlicensed broker, you are indirectly putting your funds in danger. For that reason, we ask our readers to invest with brokers who have licenses from authorities like FCA, ASIC, FMA, etc. Authorized brokers are covered by many prerequisites, and a large number of them apply anti-fraud practices. As such, they are the specific inverse of what these brokers and others like them represent.
StateHills Deposit And Withdrawal Methods And Fees
There is a reason why these fraudsters, as well as many other scammers, would frequently advise you to deposit in cryptocurrency. You cannot get a chargeback on such transactions because they are entirely irreversible and all of them are recorded in a ledger that cannot be modified later. Depositing money with scam brokers is therefore, rarely a good idea. If you have already invested your money with StateHills, you should immediately ask for a withdrawal as your money is not safe with an unregulated broker.
With StateHills, if you ask for a withdrawal, they will postpone the process by giving some reasons for a long time so you can find no alternative to file a complaint.
Commitments of Ensured Benefits
Any moneymaking promises in the financial market come with a risk. Some brokers will attempt to let you know that their financier can assist you with turning ensured benefits when you utilize their platform.
If you get attracted by such brokers, there’s a chance of getting scammed by them.
How to keep yourself safe from scam brokers?
- Do good research about the broker. Go through reviews and pick a broker with positive reviews. A conventional web search can give experiences into whether negative remarks could simply be a disappointed broker or something more serious.
- Ensure the reviews do not contain anything negative about the broker’s withdrawal process.
- If you are happy with your examination on a specific broker, then trade for a while first, and afterward attempt to make a withdrawal.
- If you face some issues, discuss them with your broker. If it doesn’t go well, file a complaint and share your experience online with everyone.
Is StateHills Legit or a scam: Final Thoughts
It is clear from the StateHills review that this broker is not right for trading. We unequivocally encourage all traders and investors to keep away from StateHills and similar brokers. If you really want to trade online, find a broker who is regulated and has trusted and positive reviews.
Also, if you are a victim of the StateHills scam, or other scams like the forex scam, cryptocurrency scam, binary scam, etc., file a complaint here to get your funds back. Scam Helpers can process your complaint and help you in fund recovery. We should begin and determine the matter before the harm is considerably greater. Your one step can save you and other people from being cheated by such brokers.
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