StateHills Review – Watch Out For This Unregulated Forex Broker

As of May 2023, the broker (Statehills.com) has ceased operations. But you can read the article to avoid falling for similar scammers.

StateHills is an investment scam to avoid?

Broker StateHills failed to include the name of the owner or the law governing the Terms and Conditions. We have only a vague address in Switzerland. This EEA country has strict monetary laws and its supervisor, FINMA.

FINMA requires that brokers have a minimum capital of 1,000,000 CHF. They also need to keep client funds separate accounts and take numerous risk-reducing steps. After being checked, the StateHills regulation wasn’t found on FINMA’s register.

We tried to search other European registers such as CONSOB, BaFin, CNMV and CMVM but were unsuccessful. Simply put, StateHills Forex broker has no license.

Leverage is the final proof. If the broker were actually based in Switzerland they would have to adhere to the ESMA limit for retail traders of 1:30. This firm instead offers a maximum of 1:400 to customers, which puts their funds at risk.

We would love to hear from you about this brokerage.

This fraudulent broker is generously called StateHills and tries to keep under the radar. You should not trust this broker with your money.

Is StateHills Trading Scam Activ?

Since June 2022, StateHills has been operating a trading scam. Most victims are from:

• Australia
• UK
• Belgium
• Finland
• Norway

This is just the beginning. SimilarWeb data shows that the firm saw the greatest inflow of visitors during November 2022. Their numbers increased almost 1000% compared to October the previous year. This is a clear sign that scammers are spreading and your money may be at risk.

How does this scam broker contact victims?

A fraudulent marketing campaign by brokers is one of the main reasons for increased website traffic. The unsolicited offer was placed by the firm via Facebook, Google Ads and Instagram. It is being hidden from inexperienced retail traders like you.

After you click on the ad, brokers will call you and offer whatever you need. You can expect them to use different sales techniques and to offer more favorable terms than other trading firms.

They will give you access to private Telegram and WhatsApp chats if you deposit the initial amount. This will show you fake results and success stories. All this is done with the intention of asking for more money.

You might receive a message via social media, preferably LinkedIn from an alleged financial advisor who is sharing their knowledge.

LinkedIn can sound credible because it is a business network. Anyone can create a profile and say what they want. Do not trust scammers.

StateHills promises big profits and trading tips

StateHills broker, with its catchy slogan, promises financial freedom. This would be nice, and it’s why all traders trade. Scammers are always a possibility.

This section shows that brokers sell insurance on trades. They will try to convince you that you will share losses and they will pay out of their own pockets. Wouldn’t financial institutions be able to offer such a lucrative option if they had the money?

They can also promise and guarantee anything, as long as they are not subject to regulatory oversight. You won’t hear from them if they call you claiming that you could make millions if your account is upgraded and you pay $250K.

Once you request a withdrawal, all these stories will be forgotten. Employees will block your trading account, then vanish and refuse to contact you again.

What trading platforms are available?

The website does not mention StateHills trading platform. It’s evident that this is not an achievement. Instead, we were given a basic WebTrader when we created an account.

Browser-based platforms aren’t required to be installed, but that doesn’t make them any less useful. This brokerage does not offer reliable third-party platforms like MT4, MT5, and cTrader.

They all have an extensive range of technical indicators and trading tools, which can be customized to your liking.

What Apps can I download from StateHills Mobile?

StateHills login is only possible via a mobile web browser because the platform is completely web-based. This firm chose to offer clients both iOS and Android apps. It was simple.

MetaTrader gives you access to both desktop and mobile apps that make trading more enjoyable.

What trading assets can a broker offer?

There are four types of assets that we offer:

• Forex ( currency pairs or ) – EUR/USD/NOK/SEK/USD/ZAR
• Commodities – Gold, Natural Gas and Palladium
• Shares – Amazon, BMW and Bank of America
• Cryptocurrencies (Digital Currencies / Cryptos) – IOTA, MATIC, BNB

We find it very unfavorable to stock investors that indicies are not mentioned or offered.

StateHills Demo Account – Can I Trade For Free?

StateHills Demo Account is not available. Clients must first pay the money and then test the system at their risk.

With legitimate trading companies, there are often risk-free accounts available. These brokers can help you determine if the broker is right to you and your trading style. Scammers on the other side will try to trap you and take your money.

How do I withdraw money from StateHills

The StateHills withdrawal process is not available. The word withdrawal is not even used in legal documents, which could indicate that there is no such thing.

The firm should follow AML policies and approve payouts using the same payment method as the deposit. This is the real problem. BTC is the only option, which means transactions can be virtually anonymous.

StateHills.com Verification Issues

StateHills reviews indicate that this company causes many problems for those who need money back. They will take your money without any verification documents.

Once you submit a payout request they begin to worry about anti-money laundering laws. They require you to provide various proofs of identification, including proofs of address and the source of the money.

They may drag you along for weeks, asking for a different photo, a color one, or a better signature. They can also freeze your trading account and disappear, claiming that you only had a short time to verify it. Your money is then gone. However, that’s not all.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

StateHills: Video

Below you will find a short video about StateHills. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about StateHills!