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Founded in 2021 by a team of industry professionals, Stockhome is a financial service provider that enables clients to trade forex and CFDs via software platforms. Operating from St. Vincent and the Grenadines, Stockhome offers more than 200 trading instruments; forex, commodities, stocks, CFDs, indices and cryptocurrencies; for trading on its platforms. Adequate measures have been implemented to engender speedy trade executions, competitive spreads and general trader security.
Security – Stockhome Review
Stockhome is the trading name of ‘Plexecon’, a company incorporated in St. Vincent and the Grenadines.
The broker states that when it receives clients’ deposits, it is kept in segregated bank accounts, which it maintains with only the multinational banks that are financially stable. Also, firewalls and secured socket layer (SSL) technology have been installed to ward off internet hackers desperate to intercept user data and steal client identities, credit card details, etc.
Account opening – Stockhome Review
To start trading with stockhome, visit its official website and register for a new account. Fill out the online form, and you will be logged into the clients’ area. You can upload your ‘proof of identity and ‘proof of residence’ documents from your area. Immediately a new version is created for you, but you will need to fund the account to commence trading. Also, Stockhome is committed to its Anti Money Laundering (AML) policy, so all clients are required to upload KYC documents.
Stockhome offers multiple tradable assets on its platforms. They are as follows.
• 50 forex pairs
• 120 stock CFDs
• 8 indices
• 70 crypto CFDs
• 5 commodities
Account types – Stockhome Review
Stockhome did not state a minimum deposit before you could open an account with its brokerage. The account currencies available are EUR, USD and GBP. All versions have negative balance protection, and every account holder is assigned a personal account manager.
Beginner traders can open the Mini account and trade with a leverage of 1:100. But with a deposit of $5,000 to $50,000, you will own a Gold account and trade with a maximum leverage of 1:200. Clients who trade huge volumes can open the Black account, which comes with a dedicated personal account manager and leverage of 1:300. You need a deposit above $50,000 to open a black account.
Islamic accounts are available on request by Muslim traders who cannot receive or pay interests because of their faith. So, Islamic accounts do not incur swap fees even when open positions are left overnight.
Trading platform – Stockhome Review
The Stockhome trading platform is available for all clients’ trades. You can choose to download and install the desktop trader if you have a windows PC. If you want to trade on the go, you can download the android version or iOS version of the mobile app. But for all other operating systems, you can use the WebTrader version, which runs on web browsers.
The platform is fast, light and user friendly. You can easily use ‘favourites’ to arrange your favourite assets in one place. When placing orders, you can choose pending charges or use risk management tools like stop loss and take profit. The charting package has four chart styles, nine timeframes, and 50 technical indicators.
To fund your Stockhome account, you can use a bank wire transfer which entails transferring your trading capital from your local bank account to your Stockhome bank accounts. This method takes about 2-7 business days before the transfer process is completed.
If you want to fund your account and start trading immediately, your best option is to use a debit or credit card. The most popular card, such as Visa or Mastercard, may be used. Additionally, you can fund your account using Bitcoin. Stockhome charges no commission on both deposits and withdrawals.
New traders may benefit from the training resources provided by Stockhome on its website.
The daily analysis is provided to all traders, irrespective of account type. Also, there are free articles teaching traders about fundamental and technical analysis, leverage and margin, and forex trading strategies.
Customer support – Stockhome Review
Stockhome is a customer-focused broker and has a support team that is available on a 24/7 basis to help its traders or prospective clients with whatever challenges they may have. You can contact the team via email or phone call.
Stockhome is a new player on the market and offers a decent solution for traders looking to start trading. Their platform is simple enough, and their trading conditions are fair.
like always, make sure you do your due diligence when you start trading with a new broker
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. Concerning margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that these products’ methods, techniques, or indicators will be profitable or will not result in losses.