General information about StateHills
According to the description on the broker’s official page, the company was founded in 2005 and specializes in Forex trading. StateHills has branches in many important economic centers: in London, Zurich, Singapore and Moscow. The broker’s mission is to provide all its traders with an exceptional trading education that can enrich their lives for many years to come.
In today’s review, we will take a closer look at the financial activities of StateHills and tell you whether you should trust them.
During the investigation, we found out that the company is located in Switzerland. For unknown reasons, the broker hides its location by specifying only a phone number and an e-mail box in the contacts.
The broker lied, saying that he has been serving clients for more than 17 years – in fact, the broker provides its black services for more than a year. Having specified such an impressive experience, the broker wanted to attract as many clients as possible to his scam.
The company operates without a license and registration in Switzerland, moreover, there is not much information about this broker on the Internet, despite its “long trading history”. StateHills does not provide any registration documents confirming that it owns a license. StateHills is just another unregulated broker that lures its clients with false statements. Be extremely vigilant when choosing a broker – cooperation with unregulated, unlicensed brokers can easily leave you with an empty wallet.
statehills.com has a very low confidence score, which indicates a high probability that it is a fraudulent website. Be extremely careful when navigating this page!
When our system evaluated statehills.com, it analyzed a number of characteristics, including information about the owner, location, popularity and other factors related to reviews, counterfeit products, threats and phishing. Using the collected data, an assessment of trust is formulated.
- The website owner uses a service to hide their identify on WHOIS;
- This website’s Alexa rank is very low;
- The registrar has a high proportion of spammers and fraudulent websites;
- This website may offer services involving high-risk cryptocurrencies;
- This website provides anonymous payment options;
- This website has been flagged as suspicious transactions;
- This website has been sanctioned or blacklisted by Complytron, yet it is a legitimate and secure site. It is therefore always prudent to conduct your own research.
StateHills Trading Accounts
StateHills offers 5 account plans that require a minimum deposit of $250 to $499,999. The amount that the broker requires for a platinum account causes surprise and laughter.
The leverage is specified only for a platinum account and is 1:400 – the standard value for illegal brokerage companies. The assets used for trading are stocks, commodities and cryptocurrency.
Another red flag of StateHills is the fact that payments are accepted only in the form of bitcoins. Legitimate brokers have the opportunity to pay for deposits by bank transfers, credit cards and electronic wallets. Scammers usually require cryptocurrencies as the only payment. Cryptocurrency is easy to manipulate everywhere and it is anonymous, which makes it ideal for getting your money without worrying about being tracked. Brokers who require cryptocurrencies as payment should immediately arouse your suspicions!
How do online scammers work?
A trader carries out a number of successful transactions and he has a desire to invest more and more in the hope of higher profits – this is a common tactic in online trading fraud. Next, the brokerage company will take all the investor’s money and freeze his account.
Moreover, many fraudulent companies may post fake licenses and regulatory addresses on their websites in an attempt to convince naive investors that they are legitimate. Just in case, it’s better to double-check your facts using several other sources. When sending money online, it is important to always stay alert.
Be extremely cold-blooded – carefully browse the website, it will immediately become clear to you that the broker is not under the jurisdiction of any particular regulatory authority. It’s a giant warning sign! The hero of our review is just another unregulated forex broker. And this indicates that consumers are not protected, and it is likely that they will get away with stealing your hard-earned money without holding the regulatory organization accountable.
What should you do if you realized that you were fooled?
Since your assets are never completely safe when they are held by an unlicensed broker, you should submit a withdrawal request as soon as possible. And that’s where things start to get complicated.
If you want to withdraw your money, regardless of whether you have made a profit or not, the procedure for withdrawing your money will be postponed for several months. In the event that they postpone it for six months, you will lose the opportunity to send a chargeback, and the money will be irretrievably lost.
You will not get your funds back, no matter how often you remind them or how insistently you demand that they withdraw them from the account. And if you signed a Managed Account Agreement, also known as a MAA, which actually gives them permission to do whatever they want with your account, they will lose all your funds, which means that you will have nothing more to ask for.
In the event that you have already placed your money with them and they refuse to return it, which is very likely, you may still have one or two ways to get your money back, so don’t worry about it.
First of all, you need to make sure that you have saved all the emails as proof that you demanded a refund from them, but they either do not give them to you, or delay the process for an excessive amount of time in order not to return your money.
You should start by initiating a refund as your very first step! And you really need to get down to it right now! Call your financial institution or the firm that issued your credit card and explain how you were tricked into making a deposit for a trading company that is not regulated and will not refund your money. This is the fastest and easiest way to get their money back, but it is also the method that will cause them the most inconvenience.
There is no way to refund the wire payment, so if you send them a payment, you will not have the opportunity to ask for help. To complete this step, you will need to take the battle to a higher level. Warn them that you will report their behavior to the appropriate authorities and file a complaint against them if this continues. This will force them to reconsider the probability of a refund.
You also have the option to write a letter or send an email to the agencies responsible for regulation. You can do a Google search to find the governing body that is responsible for overseeing forex brokers in the country where you currently reside. After that, you will be able to write a letter or compose an email in which you will tell in detail how they deceived you.
Make sure you give them this letter or email, and let them know that you will send it to the agency that regulates the industry if they don’t refund your money.
ChrisJanuary 23, 2023
Broker has long been on blacklists! Be careful, don’t fall for their tricks! The founders of this blacklisted broker are anonymous and there is no guarantee that you can get your money back!!!
Sad HartmannJanuary 23, 2023
I had a sad experience with Statehills. I wanted, like many people, to make money, but in the end, I lost it. I opened an account with this pseudo-broker and deposited money there. The manager contacted me and offered a great program, but I had to pay extra money. I transferred money to my account, and all my transactions were in the red. And all this is thanks to the fraudulent employees of this organization! First, they tricked me into giving them money, and then they just tricked me! Don’t believe their empty promises, it’s just a trick to get you to agree to transfer them as much money as possible! I hope that my experience will help someone.
Sarah MurphyJanuary 23, 2023
I invested 15,350 US dollars with scam broker FXG trade and I was denied access to my money, i was so desperately in need of help to recover all the money back to me, fortunately I came across a colleague that introduced me to a binary options trade funds recovery expert who goes by the name Mr Curtis Howard when i met him i did not believe that he could get back my money because i have been scammed a lot already and didn’t know what to do, but my guts told me to give him a try and i did, to my greatest surprise I was able to get my money back with his help kindly contact Mr Curtis Howard through his email address: firstname.lastname@example.org if you are having issues withdrawing your money from your investment broker, I assure you a successful funds recovery.