Stake-Hub Review – Anonymity Brings About Dishonesty

Who is Stake-Hub even? The website certainly doesn’t give away the smallest detail about this incognito company. Fresh and new to the market, they act like they’re a god-given solution to profitable Forex trading. 

What’s more, they reveal absolutely no data on their parent company, any physical address or trading certificates. The entire deal is worthless if it’s not supported by the regulatory framework and directives. And that seems to exactly be the element where Stake-Hub fails to deliver. So, our Stake-Hub review examines the circumstances around this Forex newcomer and why they’re so secretive about their entire conduct.

Is Stake-Hub a Scam Broker?

We don’t like to jump to conclusions without finishing a thorough research first. Only after putting together all the facts we gathered can we make a final verdict. But conducting our investigation of Stake-Hub was somewhat made difficult with the severe lack of starting information. We’re convinced Stake-Hub remains tight-lipped about their company for a reason.

Since the website doesn’t give any company address to check which jurisdiction they operate from, we had to look through various registers. This would mean combing through the databases of as many Tier 1 regulators as we could. Strangely enough, the results were always the same. FCA, CySEC, NFA, FINMA, CNMV, and CONSOB have no idea who Stake-Hub is and who runs it. We recommend reading about Volofinance, as they function on a similar principle.

It started seeming like Stake-Hub doesn’t comply with any laws and regulations governing the provision of financial services. Otherwise, they would proudly announce it. A Forex license is the ultimate verification proof of a broker being fully trustworthy and legitimate. Stake-Hub clearly doesn’t have one. They wouldn’t hesitate to show it off otherwise, as we all know how hard it is to acquire a premium trading license. 

We say hard because every company first has to provide proof of being stable and financially well-equipped. This is done by depositing a hefty amount of cash upon applying for a license. Depending on the jurisdiction, this requirement goes up to $20 000 000, how much it’s demanded in the US. 

A license means the broker provides the latest and safest trading conditions and environment for their users. Those are segregated bank accounts, leverage cap at 1:30 (EU, UK and AUS) and 1:50 (US). 

Another vital method of reducing the risk of loss is negative balance protection. Furthermore, there’s a compensation fund, that guarantees the users being able to get payouts if the broker doesn’t manage to deliver them in case of bankruptcy. 

Ultimately, the rules of absolute transparency bypass the jurisdiction. This is a universal rule which ESMA enforces in the EEA through MiFID. Stake-Hub shows no respect for these colossally important criteria when they’re so anonymous and unrevealing. Since not a single proof of their regulation exists, we can’t label them as safe or trustworthy. Be cautious!   

Stake-Hub Platforms – A Software Comparison

The process of getting to the trading area was fairly simple. All you have to do is register. However, placing trades is a no-no unless you’ve made your first deposit. How expensive and ridiculously high that requirement is, we can’t help but think this sort of shallow terminal isn’t worth it. Bitsterzio offers something similar and just as unreliable and non-functional.

If compared to the indisputable industry rulers like MT4, MT5 and cTrader, the Stake-Hub terminal is just so poor in features and options it’s sad. If you’re willing to say goodbye to the complex analytical tools, Expert Advisors and 1-click-trading, then this is just the right software for you. But every trader deserves the best trading environment available for the price they pay. And Stake-Hub isn’t able to provide you that. 

What Financial Instruments Does The Platform Include?

Despite the lack of advanced trading tools and options, Stake-Hub still allows trading a palette of financial products. Their number isn’t neglectable, but let us just remind you that heavily regulated brokers can offer you more exotic and far more complex instruments from various markets. Either way, this is the set of tradable asset groups that Stake-Hub allows you access to: 

• Forex (EUR/USD, USD/JPY, GBP/USD, EUR/CHF, AUD/CAD)
• Crypto (BTC, BCH, ADA, DOT, DOGE, XRP, LTC)
• Commodities (Wheat, Sugar, Platinum, Nickel, NGas, Crude Oil)
• Indices (VIX, USDINDEX, UK100, SWISS20, ES35, DE40)
• Shares (Barclays, Kombank, Tesco, Fedex, BMW, Adidas)

Stake-Hub Countries Of Service

The fact that they’re a newcomer on the market didn’t stop Stake-Hub from reaching out to various groups of traders. As a matter of fact, we’re quite surprised how many people they’ve been able to offer their services to. And in quite a short time at that. With an obvious preference for the more developed countries, Stake-Hub also primarily targets english and germanic speakers. Take a note of countries: 

• Germany
• United States
• Switzerland

Account Options Offered by Stake-Hub

Packages at Stake-Hub are absolutely overpriced. And for no particular reason or groundbreaking feature to justify the costs. Trading expenses lower with the price of accounts going up. 

However, we’re concerned with the advertised costs being so low in terms of spreads. With Stake-Hub supposedly charging no commission on each trade additionally made us suspicious. 

Those kinds of circumstances would be just too good to be true. Which brings us to another suspicion about the broker using these statistics as bait. More on the trading costs and leverage in one of the next sections of this review. 

For now, understand that regulated brokers ask for as little as $10 for a live trading account. On the other hand, pay attention to these account costs:

• Bronze – 12 500 EUR
• Silver – 25 000 EUR
• Gold – 75 000 EUR
•  VIP Platinum – 150 000 EUR

Can a Trader Use a Demo Account?

What was evident from the very start is that Stake-Hub doesn’t even advertise a Demo account. You immediately have to invest real cash if you want to access the features and get anywhere. 

Even if the broker offered a Demo account, you’d have to take their trading data with a grain of salt. After all, by showing amiable conditions though Demo account, unlicensed brokers attract customers to invest sooner and without asking many questions. 

Terms of Service for Stake-Hub 

In all likelihood, the most disturbing item in this doc was the one which every Stake-Hub client has to unconditionally agree to. It relates to giving the company the freedom to deduct from your trading account any sum they wish. The pretext that Stake-Hub uses is your agreement to pay any occurring fee. Whether it pertains to trading, transactions or account maintenance. 

Before becoming their investor, that’s just one of the one-sided obligations you have to accept. There’s more than just a few of these described. So, for your own sake and benefit, we advise you to carefully go through the entire doc before you agree to anything. 

Leverage, Spreads and Fees

The starting leverage at Stake-Hub is 1:100. This is already something going against any and all risk-management standards that Tier 1 regulators enforce. If you decide to pay even more than 12,500 EUR, you can increase that leverage. In that sense, it can go all the way up to 1:400 maximum.

Spreads for the Bronze account sit at 2.8 pips. These costs are somewhat average in comparison to the common industry offers. However, more expensive accounts decrease the leverage to the tightest 0.1 pips and without commission. It doesn’t mean these are the real trading costs so think well and calculate your potential expenses before you trade. 

Withdrawing Profits From Your Broker Account

The single method of withdrawing funds from your broker account at Stake-Hub goes through crypto wallets. Being untransparent and irreversible, these transactions are notoriously dangerous and unreliable. Financial swindlers use them to keep their virtual anonymity while safely performing defrauding projects. 

Since this is the only channel of transferring funds with Stake-Hub, we can’t say their money flow is safe and secure. In addition to that, the broker doesn’t have a clear withdrawal policy. 

You may expect one thing while Stake-Hub can unpleasantly surprise you with another. It may include requiring additional docs, photos of your ID and credit cards, or paying more transferring costs. 

What can I do if I was scammed by Stake-Hub?

Whatever the amount of cash was stolen from you, it shouldn’t be taken lightly. These miscreants have ways of getting access to your sensitive data and rob you even worse. It usually doesn’t stop with just one amount. So, take our friendly advice and contact us promptly so we can help you start the chargeback process. 

Also refer to us if you need any kind of other help. Just don’t refrain from action. It only encourages scammers to act boldly and strike again. The more evidence of their unscrupulous actions you provide, the more chance to alert the authorities. Government institutions have the means to engage in tracking and bringing cyber criminals to justice.