Welcome to our Allstock-now.net Review.
Did they scam you? Let us know by commenting below.
Recently, we received the following complaint:
I was investing in a company called allstock-now.net. I wanted to take out $50,000 USD from the stock trades I made. I asked my broker Hugo Hewitt to send me the money. He put the money into a Guarda account. He then asked me to pay $30,000 in fees to get my money out. Now, I’m out $50,000 with my initial $20,000 investment.
So, is allstock-now.net really a SCAM?
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Allstock-now.net was registered for one year on December 16, 2022, through 101domain GRS Limited. Cloudflare and a B.M.O. LTD, a privacy service, protect it.
It has 8 backlinks from 6 referring domains.
AllStock-Now, a multi-asset CFD broker, offers a comprehensive overview of the company’s services and operational details.
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Company Overview and Services
AllStock-Now presents itself as a leading provider in online foreign exchange trading, stocks, CFD trading, and crypto services. The company emphasizes its global reach, allowing trading across multiple markets with a single account. It boasts of providing a secure, market-leading platform with unlimited access to global markets. The company also highlights its MT5 platform, which offers an upgraded experience with enhanced features.
AllStock-Now delineates its business areas as excelling in financial services, backed by advanced technologies and a professional team. Services include an economic calendar, technical analysis, daily news updates, low-fee trading with clear pricing, and educational materials. They assert a comprehensive process management for clients, from account registration to strategic planning and benefits realization.
The website details various account types – Standard, Professional, and Ultimate – each offering differing levels of customer support, leverage, market updates, and other benefits. These accounts cater to different levels of traders, with varying spreads and swaps.
Contact and Regulatory Information
The contact information for AllStock-Now includes a phone number (+44 (207) 097 74 54) and an email address (firstname.lastname@example.org).
The company is headquartered at Level 3, Business Centrum Vyšehrad, Na Pankráci, 4-Nusle, Prague, Czech Republic.
The website emphasizes the risky nature of CFD and Forex trading and advises seeking professional advice.
Potential Red Flags
- Repetitive Customer Testimonials: The customer testimonials section seems repetitive, with identical statements repeated multiple times. This lack of diversity in feedback could be a sign of fabricated reviews.
- Lack of Specific Regulatory Information: While the website contains risk warnings and advises seeking professional advice, it does not explicitly mention any financial regulatory body overseeing its operations. This omission is concerning, as legitimate financial service providers typically display their regulatory status prominently.
- High Leverage Offers: The high leverage offered in various account types (up to 1:400) is a common lure in risky trading schemes. High leverage can lead to significant losses, especially for inexperienced traders.
- Inconsistent Risk Warnings: While the website warns about the risks of CFD and Forex trading, it also promotes high returns and success stories, which could be misleading.
- Vague Company Information: The website lacks detailed information about the company’s history, leadership, and operational specifics, which is usually available in legitimate companies’ profiles.
- Generic Content: Much of the website’s content, particularly in the ‘About Us’ section, seems generic and lacks specificity. This can sometimes be indicative of a website that’s not genuinely rooted in its purported business.
For a thorough review, we move on now to seeking independent reviews or complaints about the company.
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The review of AllStock-Now, based on various online sources, raises several concerns and red flags about the legitimacy and safety of the platform.
- Recent Domain Registration and Lack of Reviews: Scamadviser notes that AllStock-Now’s domain was registered only recently, making the website quite young with few consumer reviews or social media comments. This lack of history makes it challenging to assess the credibility of the website thoroughly.
- Negative Customer Reviews: The website has garnered predominantly negative reviews on multiple platforms. For instance, it has a very low rating on Sitejabber, indicating general customer dissatisfaction. Customers have reported issues like poor communication, pushy behavior, high fees, and difficulty in withdrawing funds.
- Lack of Regulatory Oversight: A critical red flag for any investment platform is its regulatory status. AllStock-Now does not appear to have a regulatory license from a recognized financial institution, which is essential for ensuring the safety of funds and legal recourse in case of disputes.
- Common Tactics of Online Trading Scams: The approach used by AllStock-Now aligns with common online trading scams, where initial profitable trades are shown to build false confidence, followed by encouragement to invest more funds. In many cases, such platforms suspend accounts or refuse withdrawals once they believe maximum funds have been extracted from an investor.
Given these concerns, it’s advisable for potential investors to exercise extreme caution and conduct thorough research before engaging with AllStock-Now. It’s always safer to deal with regulated and well-established financial platforms to ensure the security of your investments.
The reviews of Allstock-now.net on Sitejabber reveal significant customer dissatisfaction, with the website receiving a low rating of 1.23 stars from 5 reviews. This indicates a general trend of displeasure among its users. The critical reviews highlight several serious concerns:
- Scam Allegations: Multiple reviewers have labeled Allstock-now.net as a scam. Customers have reported being pressured into investing and then finding themselves unable to withdraw their funds. For instance, one user mentioned a sudden imposition of a $10,000 maintenance fee that was not initially disclosed, hindering their ability to withdraw money.
- Frequent Changes in Domain Names: There are reports that the platform has changed its domain name multiple times, evolving from Allstocknow.com to Allstocknow.net, and then to Allstock-now.net. This is often a red flag, as legitimate businesses usually maintain consistent domain names.
- Artificially Generated Positive Reviews: Some users have expressed suspicion that the positive reviews on the site might be artificially generated, noting a lack of specificity and a uniform tone in these reviews.
- Issues with Financial Advisors Associated with the Site: Several reviewers named specific financial advisors associated with Allstock-now.net, accusing them of fraudulent activities. These advisors allegedly employed tactics to extract more money from clients with no intention of allowing them to withdraw their funds.
- Warnings to Potential Consumers: The reviews include strong warnings to potential consumers about the risks of investing with Allstock-now.net. They caution against trusting the site and advise against depositing any money due to the inability to withdraw it later.
These reviews paint a picture of a platform that may be involved in deceptive practices, with a pattern of behavior that is commonly associated with financial scams. Potential clients are advised to exercise extreme caution and conduct thorough independent research before engaging with Allstock-now.net.
In addition to Allstock-now.net reviews on SiteJabber, we also found some reviews about another site, allstocknow.net, presumably the previous domain used by the owners of Allstock-now.net.
Other domains used by them:
The review of AllStocknow.net on Personal Reviews paints a concerning picture of the platform’s legitimacy and practices. Here are the key points:
- Lack of Regulation: AllStocknow.net is not under any regulating agency, which is a major red flag. This lack of regulation means that there is no oversight to ensure fair practices and protect customers’ interests. Unregulated brokers like AllStocknow.net are often a high risk as there is no assurance of their compliance with standard financial laws and practices.
- Association with Questionable Websites: The platform is also reported to work with websites offering “Automated trading software,” which is often associated with scamming schemes. This connection further casts doubt on the legitimacy of AllStocknow.net.
- Tactics of Deception: The platform is described as using aggressive tactics to persuade people to make initial deposits, promising unrealistic returns and deals. Following the deposit, clients are reportedly transferred to a “retention agent” who attempts to extract more funds from them.
- Challenges in Withdrawing Funds: There are reports of significant difficulties in withdrawing funds from AllStocknow.net. Even if withdrawal requests are submitted, the process is allegedly delayed intentionally, often leading to an inability to reclaim funds. This is a common tactic noted in many online trading scams.
- Customer Reviews and Online Reputation: The review cautions against trusting positive reviews of AllStocknow.net found online, suggesting that they might be artificially generated or paid for. The platform is accused of manipulating its online reputation through such practices.
Given these findings, potential investors are advised to exercise extreme caution and conduct thorough independent research before considering any form of engagement with AllStocknow.net. The review strongly suggests avoiding transactions with this platform due to its unregulated status and the numerous red flags indicating possible fraudulent activities.
The article you referred to provides a detailed analysis of AllStockNow, highlighting numerous concerns that suggest it’s a fraudulent company. Here are the key points summarized:
- Questionable Broker Claims: AllStockNow presents itself as a reliable and secure broker based in the Czech Republic, offering a range of financial instruments and trading on the MT5 platform. However, the article raises doubts about these claims.
- Lack of Regulatory Oversight: One of the major red flags noted is that AllStockNow does not fall under any regulating agency. This lack of oversight is a significant concern, as regulatory bodies are essential for ensuring the legitimacy and ethical operation of financial service providers.
- Suspicious Website Functionality: Users reportedly face difficulties accessing the AllStockNow website, with frequent site blockages or interruptions. This inconsistency in website availability is not typical for a legitimate financial service provider.
- Inconsistencies in Company Information: AllStockNow claims to be regulated by several financial authorities in the European Union, but the article notes that no specific regulators are mentioned, and there are no scanned copies of licenses provided. Additionally, the company’s Czech address and UK phone number raise suspicions.
- Lack of Registration with Regulators: Upon checking with financial regulators like CNB of the Czech Republic and FCA of the UK, it was found that AllStockNow is not listed as a licensee, further casting doubt on its legitimacy.
- High and Illegal Leverage: The broker offers high leverage of up to 1:400, which is illegal under EU law for retail traders. The maximum legal leverage in the EU is 1:30, indicating that AllStockNow is not complying with EU regulations.
- Questionable Domain Practices: The broker operates multiple domains (allstocknow.net, allstock-now.net, allstocknow.ru, allstocknow.com) registered simultaneously and paid only for a year, suggesting a lack of long-term commitment and potential dishonest intentions.
- Client Complaints and Scam Tactics: The review details typical scam tactics used by AllStockNow, such as persuading clients to deposit money and then blocking access to accounts and funds. Many clients have reported losing significant sums of money and not being able to withdraw their funds.
In conclusion, the article strongly suggests that AllStockNow is a fraudulent company, advising potential clients to avoid dealing with them and to be wary of their promises and practices.
Allstock-now Review Conclusion
Our comprehensive review of Allstock-now.net paints a concerning picture of its operations. The accumulation of red flags, such as the lack of regulatory oversight, high leverage offers, vague company information, and inconsistent risk warnings, all point towards the possibility of a financial scam. The pattern of behavior reported by numerous clients, including difficulties in withdrawing funds and aggressive tactics used by associated financial advisors, further supports these concerns.
The company’s recent domain registration, coupled with negative reviews across multiple platforms, including Sitejabber and Personal Reviews, and its absence from regulatory lists, suggests a lack of credibility and reliability. The use of multiple domain names and the connection with questionable websites raise additional doubts about the legitimacy of Allstock-now.net.
The Bottom Line Regarding Allstock-now
Given these findings, we strongly advise potential investors and clients to exercise extreme caution. It is always recommended to work with regulated and established financial platforms to ensure the security and safety of your investments.
If you are a victim of online scams, please let us know by commenting below, and if you have lost a significant amount of money, do not lose hope. We can help you recover your funds!
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