Brokers Station Review
Brokers Station is the online trading broker with the primary focus on Forex trading. Despite the fact that Brokers Station claims to be professional and innovative, we would not recommend signing up with this broker. There are plenty of reasons for this. Read our Broker Stations scam review to find them out!
Our Broker Stations review defined the major pitfalls:
- Scarce company information
- Absence of license
- Confusing account packages
- Many sections on the website are inactive
- Disabled FAQ
So what is known about Brokers Station? Well, not so much. The broker is said to be located at the following address – the Trust Company Complex, Ajeltake Road, Ajeltake Road, Ajeltake Island Maguro Republic of Marshall Islands MH96960. Besides using a suspicious offshore location, the company disappoints by providing misleading legal information. On its main webpage, Brokers Station claims to be licensed. After a long research, we did not find any sign of regulation.
In the “About Us” section, the user is unlikely to discover anything concrete about the company behind brokersstation.com scam. Most information about Brokers Station is kept under lock and key. For instance, it is unknown when the company started offering its services, which firm owns and operates Brokers Station website etc.
Brokers Station Bonus Review
Brokers Station claims to offer the best promotions for Forex traders. This is far from the truth. The only promo available is the “Matchup Bonus”. In other words, Brokers Station promises to provide extra capital depending on the initial deposit made. The bonus starts as little as 10% up to 65%. Its size is determined by the account packages that we will discuss further in this Brokers Station review.
Overview of Trading Accounts
There are 5 live accounts for the trader to choose at this broker, namely:
Instead of offering a single well-designed real trading account, Brokers Station Forex overloads the trader with multiple but yet very similar account packages. All accounts are said to offer the trader an access to the customer support, economic calendar tips, social trading, “pro chart station”, different trading platforms and so on. For ECN, International, VIP users the broker grants the possibility to participate in webinars, enjoy the services of the strategy advisor and get 1 on 1 coaching with an expert agent.
We should admit that the broker offers pretty wide spreads, which is certainly not to the trader’s advantage. Even for the luxurious International trading account, Brokers Station offers fixed spreads from 2.2 pips. The leverage offered to the user also depends on the selected account, except for Trial. It starts from 1:200 for Conservative account but can be as high as 1:1000 for VIP traders.
Trading Platforms at Brokers Station
As one of the honest Brokers Station reviews, this broker should work more on its software solution. Brokers Station offers its proprietary web-based platform along with slightly obsolete MetaTrader 4. The webtrader might look promising at first sight, but in fact the platform is quite unstable. It is frequently lagging which can adversely affect the performance in the real market.
Deposits & Withdrawals
The broker offers payment cards, Skrill, Neteller, wires, and Sofort to make a transfer. Although deposits are free, Brokers Station scam does charge fees for processing withdrawals – 30$ or the equivalent in EUR or GBP. The withdrawal processing time depends on the account type, starting from 5 business days.