Barclay Stone Review: This Shady Forex Platform Cannot Be Trusted
Barclay Stone is a dubious offshore trading platform that already claimed many victims. Using the name of a renowned UK bank will not help this scammer evade our truthful analysis. This Forex broker has no legit trading license.
Barclay Stone’s bogus website has been “under construction” for a while but that did not stop us from gathering evidence against the scam. It’s all here in our Barclay Stone Review.
|Regulated by:||No regulation|
|Is This Company Safe?||No|
|Known Websites:||br-stone.com, br-stone.net/pl|
|Have Warnings from:||KNF. Financial Commission|
|Registered in:||St. Lucia|
|Trading Platforms:||MT5, WebTrader|
|Minimum Deposit:||250 USD|
|Trading Assets:||Forex, Indices, Commodities, Stocks, Crypto|
|Free Demo Account:||No, only live trading accounts|
|How to Withdraw from This Company?||Since this company is unlikely to return your money – contact your bank, Financial Regulator, or simply Reach out to us for professional assistance in recovering your funds.|
Legal Info: Is Barclay Stone Legit or a Scam
What did we find out about Barclay Stone Ltd? We found an official warning against the BR Stone broker issued by the Polish Financial Supervision Authority (iosco.org). The regulator says that the shady company is based in the offshore domain of St. Lucia.
Furthermore, there is a warning against BarclayStone from the Financial Commission, an independent self-regulatory organization and external dispute resolution body, dedicated specifically to Forex. When an independent entity flags a platform as a scam, it speaks volumes.
Instead of trusting offshore scammers such as BR Stone and goldenrodfx, we suggest you find a legit provider regulated by a reputable financial market authority.
Top-tier regulators such as the FCA (UK), CFTC (US), ASIC (Australia), CySEC (Cyprus), CNMV (Spain), etc. require brokerage companies to possess a substantial minimum operating capital (i.g. 730,000 EUR or 20,000,000 USD), offer clients negative balance protection, a segregated account, and even a compensation scheme (i.g. up to 20,000 EUR).
Who Are Barclay Stone’s Targets?
According to atlaq.com, the Barclay Stone website domain was created on June 10, 2020, and expired on the same day this year. Since then, the illicit broker has mainly been targeting traders who live in the following countries:
The Polish KNF’s warning against Barclay Stone indicates that the phony broker is not compliant with the laws and regulations of the European Securities and Markets Authority (ESMA), which are in force in the European Economic Area.
This implies that Barclay Stone cannot legally operate in Germany or Sweden either. The US, Israel, and Canada have even heavier regulations and are off-limits to Barclay Stone.
Trader Reviews and Negative Barclay Stone Experience
Several trading forums are full of negative reviews and complaints against the Barclay Stone Scam. The websites we visited are personal-reviews.com and forexpeacearmy.com. Some reviews even suggest that this scam is run by Russians.
There is no doubt anymore – Barclay Stone is a despicable financial swindler. Please heed these warnings and stay away from cutthroat platforms such as Barclay Stone and FxxTrader.
I was scammed 16000usd by Barclay Stone Ltd.
They claimed they are uk regulated company. But they are group of russian sitting in Azerbayjan in Baku and stolen my money asking me to give them 10000usd to keep my positions open til war is over because thwir bank is russian.
- ForexPeaceArmy, March 31, 2022.
Barclay stone is a scam and notorious group of rogues soley working to take hard working people raw cash in broad day light in the name of making or maximizing profit. Do NOT fall prey to their scams and too good to be true webinar and news…
- PersonalReviews user, November 27, 2021.
Leverage, Commissions, Spreads, Fees and Taxes
Barclay Stone’s leverage can be scaled up to 1:400, which is typical of offshore brokers. They often offer extremely high leverage to attract traders. It is crucial that the greater the leverage, the greater the risk of losing your funds. More often than not, high leverage works against you.
The cyber con artist did not disclose the trading costs, i.e. spreads and commissions. Such a lack of transparency regarding the trading conditions is alarming.
Trading Platforms Available
The Barclay Stone platform selection includes the widely popular MetaTrader 5 and a web-based platform. The former offers built-in technical indicators for advanced chart analysis, the algorithmic trading option, new types of pending orders, live market reports, etc.
MT5 also boasts a clear and simple interface, the ability to use multiple trading accounts simultaneously, new timeframes and indicators, and a built-in strategy tester, making the choice of both novice and advanced traders.
On the other hand, WebTrader offers basic charts, indicators, and graphs but lacks any remotely advanced tools. It fails in comparison to MT5.
Having withdrawal issues? We can help you recover your hard-earned funds.
Mobile Trading App
The Barclay Stone app is available on Android and iOS mobile phone systems. Mobile trading is a big advantage.
Traders can utilize neat features and trade on the go as they wish. On the flexibility side, it is an extremely useful tool. However, trading on an unregulated and fraudulent platform is a terrible idea.
Available Trading Assets
As far as the Barclay Stone trading instrument portfolio goes, the broker offers the following trading instruments:
- Forex currency pairs – EUR/USD, GBP/CAD, AUD/CHF…
- Indices – S&P 500, NASDAQ 100, DAX 30…
- Commodities – gold, crude oil, gas…
- Stocks – Apple, Bank of America, Coca-Cola…
- Crypto – BTC, ETH, USDT…
The Barclay Stone Login page shows seven different live account types:
- Basic – 250 USD;
- Standart – 2,500 USD;
- Silver – 5,000 USD;
- Gold – 10,000 USD;
- Platinum – 25,000 USD;
The last two types require traders to first contact the broker. The Silver account and all the higher tiers allegedly offer “silver”, “gold” spreads, etc. But the specific pips and commissions were not revealed.
To make matters worse, this company does not offer a risk-free demo account, which is a red flag. Barclay Stone wants traders to open a live account right away and invest real money so that the scammer can steal it.
If you lost money to the Barclay Stone Scam, book a free consultation with us and we will go through your case.
Barclay Stone Withdrawal Process
Funds can be deposited on the Barclay Stone trading platform via two payment methods:
- Credit/debit card (Visa, MasterCard);
- Wire transfers.
The minimum deposit is 250 USD. Withdrawal processing time ranges from two to four business days. As for the fees, Barclay Stone claims to charge up to 3.5% on credit card payments depending on the account type. Wire transfer processing time may take up to 7 days, and the broker charges a fixed commission fee of 35 USD.
Key Information To Consider About the Barclay Stone Scam
To sum up, Barclay Stone is an offshore trading scam, blacklisted by the Polish KNF and the Financial Commission. Active since 2020, the scammer has mainly been targeting traders from the US, Sweden, Germany, Israel, and Canada.
Do not invest in this fraudulent platform. If you are a victim of the Barclay Stone scam, book a free consultation with our team and we will explain how the chargeback process works. Credit/debit card payments can be reversed via a chargeback, which can be requested at the issuing bank within 540 days of the transaction.
What Is Barclay Stone?
Barclay Stone is an offshore Forex & CFD trading scam that defrauded many unsuspecting traders.
Is Barclay Stone Reliable?
Barclay Stone is not reliable. This shady platform has been blacklisted by the Polish regulator and the Financial Commission.
When Was Barclay Stone Founded?
The Barclay Stone website domain was created on June 6, 2020, but expired on the same day this year.
Where Is Barclay Stone Located?
The Polish KNF claims that the Barclay Stone scam broker is based in the offshore domain of St. Lucia.