Why Stratton Markets Sucks In 50 Words?
Account structure! Or rather the lack of it. Let me explain: although they show 5 types of accounts, the minimum deposit requirements are not specified for either of them. On their Deposit page, it’s clearly shown that you need to deposit a minimum of $250, so I assume that’s for the Basic account, but what about the other four? Also, “assume” is not a word that I should be using but they make me do it by not providing proper, clear information, and ThatSucks!
Why Stratton Markets Doesn’t Suck In 50 Words
The owning company is CYSEC regulated, FCA authorized, they have a good web-based platform and even better desktop platform (Meta Trader 4). On top of all that, add hundreds of trading assets and there you have it – all of them, solid reasons why this broker doesn’t suck.
Is Stratton Markets A Scam?
This broker is relatively new on the scene, launched in June 2018 but for the time being there are no major red flags or scam suspicions. As mentioned in the opening section, the owning company is regulated by CYSEC and authorized by the British Financial Conduct Authority (FCA), which are two of the better known financial watchdogs, which further distances Stratton Markets from the “scam” realm. That being said, they could improve in some areas, so let’s just say that at the moment this is not a broker ThatSucks! but not a top-tier player either. With a little work, they could join the upper echelons of brokers.
Should I Open An Account With Stratton Markets?
Stratton Markets is a CYSEC licensed broker that offers Forex, Crypto and CFDs on a wide range of assets. The owning company F1Markets Limited is regulated by the Cyprus Securities And Exchange Commission under licence number 267/15. F1Markets LTD is also EEA Authorised by the British FCA, with Reference Number 744255.
Although this is a regulated broker, with Meta Trader 4 as a downloadable platform, I feel there are better options out there. Don’t get me wrong, I don’t believe you will get scammed by Stratton Markets, but there are brokers with similar trading conditions that offer a bit more professionalism. Speaking of professional – they spell it “professional” and they say they’ve built their “very own trading platform” when in fact their webtrader is built by Scipio.
We’ve already talked about the accounts but let me give you a little more details. The 5 types are Basic, Silver, Gold, Platinum, and Diamond (minimum deposits are not specified) but there’s something else: I don’t see much difference between the extra features offered by a higher-tier account and the lower ones. Leverage is 1:30 across the board, maximum volume per trade is the same, you get a Demo no matter what account you have, etc. Here’s what you don’t get for Basic and Silver: account overview. Why? A full account overview should be basic for any account. Oh wait: the Diamond account (the most expensive one) doesn’t get an account overview either. I don’t get it.
The education section consists of webinars and podcasts (available only for higher-tier accounts) and some ebooks which are available for everyone. Seems like ebooks are making a comeback because I see more and more brokers offering them for free. However, don’t expect to become an expert in the field of Forex, CFD, or Crypto after reading them, and please take what you read there with a pinch of salt. Obviously, I didn’t read all of them but skimming through, I found out that according to Stratton Markets, “Immunity” is one of the advantages of Ethereum. Umm, no – that’s Immutability. Immunity is something totally different and I think they should know that.
Overall Stratton Markets is not bad but has a few tiny things that bother me. Just when I think “Hey, this is a good broker”, they slap me with the “immunity” of Ethereum or with misspelled words. Maybe you think that’s not a big deal, but attention to detail is important when dealing with money and if you open an account, they will be dealing with your money.
The company’s listed address is Kolonakiou Avenue 43, 4103 Ay. Athanasios, Limassol, Cyprus. The broker can be contacted at phone number +351 304500236 and email [email protected]
Stratton Markets Complaints
There’s not much about this broker when it comes to online complaints. The few user comments we’ve found are positive, praising the platform and the broker as a whole. Maybe the scarcity of comments comes from the broker’s short time in business or maybe they just don’t have unsatisfied clients. As always, we will update as necessary.
Regulatory Warnings And Announcements
At the time of writing, we couldn’t locate any warnings, fines, or other types of announcements against Stratton Markets, coming from a financial authority.
Stratton Markets Withdrawal
The withdrawal methods are the “classic” ones: credit cards (Visa, Mastercard), wire transfers, and e-wallets (Neteller and Skrill). The processing time is not specified but the minimums are $10 for credit cards and $100 for wire transfers. If you use e-wallets, there are no minimums as long as the amount covers the transfer fee.
Stratton Markets Extras
Gold, Platinum, and Diamond accounts will benefit from signals from Trading Central, which is one of the best and most professional providers out there. However, a lot of brokers offer Trading Central analysis for even their lowest accounts, and considering that we don’t know how much we need to deposit for any of Stratton’s accounts other than Basic, I cannot say if it’s worth it or not.
Stratton Markets Ratings
User Friendliness 14/20
The website is available in 4 languages and it is relatively well structured, with easy to access information. The web trading platform is simplistic, thus user-friendly, demo accounts are available, as well as mobile trading platforms. Some information is missing and the website has some spelling mistakes.
Range Of Markets, Spreads And Leverage 15/20
There are literally hundreds of tradable assets to choose from, ranging from currencies to commodities, indices, stocks, and cryptocurrencies. However, the crypto offering is pretty limited: Bitcoin, Ethereum, Ethereum Classic, Dash, Litecoin, Stellar, Ripple, and Monero. The leverage goes up to 1:30 for retail clients and up to 1:400 for professional clients (these limitations are due to ESMA rules). Crypto leverage is a max of 1:2. Spreads are floating: about 32 USD for Bitcoin and 2 pips for EUR/USD. These are medium spreads (a bit on the high side) and can change according to market conditions.
Deposits And Withdrawals 12/20
The methods are credit cards (Visa and Mastercard), wire transfers, Skrill, and Neteller but the minimum deposit is uncertain. On their banking page, they show a minimum deposit of $250 and their helpdesk (a “chat” feature powered by a bot that answers only predefined questions) says $100 for credit cards and $1000 for wires. Unclear. The time it takes to complete withdrawal is also not specified.
Fees And Support 9/20
The withdrawal fees are 3.5% for cards, 20 USD/CHF/GBP/EUR for wire transfers, 3.5% for Neteller, and 2% for Skrill. This is not so bad but Stratton Markets also applies a monthly inactivity fee which starts after 2 months (pretty fast) and it’s huge: 80 EUR for 2 to 3 months of inactivity, 120 EUR for 3 to 6 months, and 200 EUR for over 6 months. If the client’s account is denominated in other currency than EUR, the fee will be paid in that currency.
They also charge a monthly maintenance fee, whether you trade or not. That fee is 10 EUR or equivalent to the client’s account currency. Support consists of a bot that can only answer a set of premade questions so we can call that a glorified FAQ, not live chat. Of course, there’s email and phone but that means giving them your contact details.
Stratton Markets Extras 14/20
Regulation, Meta Trader 4, and technical analysis provided by Trading Central. However, the latter is only available to clients with top-tier accounts and the requirements are not known.