StateHills Review – Unlicensed And Shady Brokerage Firm
StateHills Review – Unlicensed And Shady Brokerage Firm

If you are looking for an online broker, you will find out that there are a lot of options. But selecting the right forex provider remains challenging due to many scam brokers. With this in mind, we have created this StateHills review to help you avoid being scammed by this fraudster. Before we proceed, here is a quick overview of this shady brokerage company.  

StateHills claims to be based in Switzerland with offices in top business hubs like London, Zurich, Singapore, and Moscow, but it fails to provide any evidence. Moreover, as opposed to being licensed, it is exposed by the Swiss financial market regulator. On top of this, the StateHills broker renders poor services involving an unsatisfactory trading platform, high minimum deposit, and unfavorable terms of exchange. Overall, you should definitely steer clear of this financial swindler.

StateHills is an unlicensed and unregulated broker allegedly based in Switzerland, but instead of being authorized, it is blacklisted by the Swiss financial authority. In addition to this, its services are as good as this fraudulent forex provider. Thus, please avoid this fake broker for your financial safety.

Broker status: Unregulated Broker
Regulated by: Unlicensed Scam Brokerage
Scammers Websites: statehills.com
Blacklisted as a Scam by: FINMA
Owned by: N/A
Headquarters Country: Switzerland
Foundation year: 2022
Supported Platforms: Web trader
Minimum Deposit: 250 USD
Cryptocurrencies: Yes, Bitcoin, Tether, Ethereum
Types of Assets: Crypto, commodities, índices, forex, stocks
Maximum Leverage: 1:400
Free Demo Account: No
Accepts US clients: Yes

Can I Trade Safely On The StateHills Platform?

If you wonder if it is possible to trade safely on the StateHills platform, shortly, it is not. Why? It is simply because this broker is not authorized to deliver services anywhere. As said, it professes to be registered in Switzerland, but after checking the relevant registers, there are no details about a company under that name. So, this implies that StateHills is not even a registered entity. Not only that, suppose that it is a Swiss-based broker. In that case, it should be certified by FINMA. However, it lacks mandatory trading credentials; even worse, FINMA has issued a warning against this broker scam.

Likewise, its statements to have branches in the UK, Singapore, and Russia, are another pack of lies. First, there is no proof of it (e.g., a valid address). Second, there are no permits (e.g., FCA, MAS, and CBR). All in all, your funds are at high-risk at StateHills.

Arguments for Trading With a Licensed Broker

So, why take chances with unregulated brokers when there are so many advantages to investing with licensed brokerage firms? First and foremost is the protection of funds, which is ensured with legislation and numerous risk management measures. For instance, negative balance protection stops you from losing more than you deposit. 

Also,  there is a segregation of accounts, meaning that a broker holds its capital separate from your money. In such a manner, you are protected from adverse events (e.g., a broker’s financial crash). Likewise, brokerage companies accredited by tier-one supervisory bodies (FCA, ASIC, BaFin) are the most trustworthy. This is because of stringent licensing requirements and compensation schemes run by these agencies (covering traders up to 100,000 EUR).

Warnings From Financial Regulators As a Red Flag About Scam

StateHills Warnings From Financial Regulators

As mentioned, the Swiss financial authority, FINMA (Financial Market Supervisory Authority), warns against StateHills. This governing agency is responsible for controlling securities markets in Switzerland. 

Needless to say that this country is a synonym for banking and other financial services. Therefore, it is not surprising why StateHills and many other phony brokers fraudulently claim to be headquartered there. Luckily, any such a statement can be easily refuted because FINMA is considered among the best watchdogs and has exposed many fake brokers.

StateHills Available Online Trading Platform & Tools

When it comes to a trading platform, every trader knows that without adequate technology, profitable trading is not doable. Leading FX brokers supply the latest programs, such as MetaTrader 4, MetaTrader 5, cTrader, and Sirix. 

These platforms are at the top because of their cutting-edge tools (stop loss, social trading, EAs), ease of use, and versatility (enabling trading on different devices). None of these is available with the StateHills web trader. This trading software allows trading from a browser and has limited features.

Which Assets Can The Investor Trade?

Regarding what can be traded at StateHills, allegedly, you can trade with lots of trading instruments across the following financial markets.

  • Crypto: Litecoin, Dogecoin, Ripple;
  • Commodities: copper, crude oil, rice;
  • Indices: S & P 500, CAC 40, UK 100;
  • Forex: USD/EUR, AUD/CAD, CHF/GBP;
  • Stocks: Ford, Intel, Bank of America.

Nonetheless, keep in mind that StateHills is a fraudster. So, this offer is meaningless. If you want to buy/sell popular tradable assets under advantageous trading conditions, you must choose legit brokerage companies.

Where Does StateHills Engage In Fraud? – Countries Of Service

In terms of countries of service, StateHills is an unauthorized broker scamming traders from

  • UK
  • Australia
  • Belgium
  • Norway
  • Finland.

As can be noticed, this scammer is running scams in Europe. So, if you are looking for forex brokers in these countries, trade only with those licensed under FCA, ASIC, FSMA, Finanstilsynet, and FIN-FSA. Remember, if you come across StateHills, please ignore it regardless of how lucrative its offer seems.

Additionally, we strongly advise you to avoid the fraudulent brokers RXK Capital, Syos Space, and BitAurox.

Trader’s Reviews of StateHills

With reference to StateHills reviews available online, they are predominantly negative. Customers or better say victims complain that this investment scam doesn’t allow them to draw funds out. This is so typical for con artists. They promise you profitable opportunities to rope you into depositing. In reality, you end up defrauded. Therefore, be careful about easy earnings.

 What Are the Different StateHills Account Types?

Speaking of live trading accounts, the following types are on offer at StateHills.

  • Basic: 250 USD starting deposit
  • Standard: 10,000 USD starting deposit
  • Silver: 50,000 USD starting deposit
  • Gold: 100,000 USD starting deposit
  • Platinum: 200,000 USD starting deposit.

As it can be concluded, this account offer comes with hefty sums. Moreover, it resembles online trading scams. Thus, don’t pay attention to this plain rip-off.

StateHills Provides a Demo Account Option?

When it comes to a demo account, this option enables traders to pick up trading styles, build strategies, and test platforms and conditions. In other words, it provides a real trading experience without costs and risks. 

Since fraudsters can capitalize on this free practice account, they rarely provide this option. Similarly, it can’t be found among the offer of accounts at StateHills.

About Leverage, Spreads, and Fees

As for the StateHills trading environment, it contains conditions that also point out that this company is a scam. First, its leverage is too high, i.e., 1:400. Although leverage can help you with making better profits, it requires knowledge and is risky for retail traders. For this reason, the ratio is restricted in some jurisdictions (1:30 in the EU, UK, and Australia). 

On the subject of spreads at StateHills, they are reportedly 0.2 pips. Even though this number is considered beneficial, it is obviously manipulated to appear cost-effective and entice you.

High Minimum Deposit and Withdrawal Terms

Another common thing for all scam brokers is requesting too high minimum deposits. In the case of StateHills, it is 250 USD. Considering its status and industry norm, this amount is an unnecessary risk. Nowadays it is possible to start trading with a reputable company for as low as 10 USD. 

As regards withdrawals, they are the biggest issues when dealing with outright trading scams. Keep in mind that StateHills won’t let you make withdrawals.         

Payment Methods Available

Additionally, broker scams don’t support safe payment methods like credit/debit cards and wire transfers. It is simply because these methods can be reversed. 

Consequently, bogus brokerage firms prefer depositing in digital cryptocurrency. That is due to the fact that crypto wallets are anonymous, hence, they are hard to trace and cancel. Actually, to recover funds lost via crypto payments, you will need professional help.

Scammed by StateHills Broker? – Allow Us to Hear Your Story.

Let’s say that you are one of the victims of the StateHills scam and wonder what your options are. Firstly, act fast and report it to the relevant authorities. Then, apply for a chargeback, which depends on the means of payment. Lastly, don’t forget to alert others by leaving negative reviews.          

How Does Chargeback Work?

In relation to the chargeback process, with credit cards and bank transfers, you can do it by yourself. VISA and Mastercard offer refunds within 540 days of application. Bank transactions can be terminated but only unless they are approved by you. 

Finally, crypto payments require special skills, so you need to get in touch with cybersecurity specialists. For that reason, you can contact our company. Our chargeback experts are at your disposal.

What Is StateHills?

 StateHills is an unauthorized broker deceiving people to be based in Switzerland.

Is StateHills a Scam Broker?

 Yes, StateHills is a fraudster exposed by the Swiss FINMA.

Is StateHills Available in the United States or the UK?

Yes, StateHills is available in both countries despite the fact it is not authorized in any.

Does StateHills Offer a Demo Account?

No, StateHills doesn’t offer a demo account, which is expected from a broker scam.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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