While there are some trading software and platforms that have done their best to provide the best sorts of experiences for budding traders, there are those that you would be better off not using. For today’s discussion, we are specifically referring to Stockpair.
For a while, we were hoping that this site/trading platform would be able to do what they were advertising to do. They gave the idea that their brokers were all professionals and that newbies would be able to have a demo account before deciding to pair up with a broker. What enticed a lot of people was the fact that they would be paired with an account manager to help guide and facilitate their trading experiences.
Here are a few horror stories that we have accumulated and have been shared with us:
Forces Options on Traders
One of the horror stories that was told to us detailed how they were assigned a broker that did not want to give the trader a demo account (despite it one of stockpair’s advertised services) and only wished the trader to immediately pay a fee to receive a certain type of account. From there, the horror continues. The broker refuses to listens to the concerns of the trader and only pushes their opinion on what would be a good trade and pressures the trader to put money into the account so that “they” would be able to start trading already.
This is always a bad sign. A good broker will never pressure you into putting your money into something you are not comfortable with.
A common horror story is that account holders suddenly find their funds depleted or their account has been suspended without any warning. The account holder would try to get a hold of Stockpair’s customer service only to be given the run around or to be flat out ignored.
As it is your money on the line here, the platform you use must always maintain communication.
There are so many more horror stories that have been shared about Stockpair. If you are still aiming to use them as a trading platform (or something like it), consider yourself fully warned.