STO Review – Unbiased Pros & Cons Revealed

WHO IS STO?      

According to research in South Africa, STO is a Cyprus-based broker and a trading name that was initially established under the AFX Group in 2009.

STO offers traders optimal trading conditions along with tradeable financial instruments which can be traded across a variety of financial markets. STO currently has offices in major financial centres including the United Kingdom, Cyprus, Italy, China, and New York City.

These offices offer traders a variety of services which is not only limited to trading but includes education, analysis, Forex indicators and market news to further enhance the trading environment and the trading experience of a variety of traders.

Through collaboration with Quantic, STO also provides comprehensive portfolio management solutions through investment products provided on an institutional level.

STO offers over 300 tradable financial instruments over comprehensive trading platforms along with offering VPS services, which is a premium subscription service, and portfolio management which is directly operated by AFX Capital Markets.

It should be noted that AFX Markets, Ltd. and AFX Capital Markets, Ltd. licences are currently on hold with both FCA and CySEC and although STO has not discontinued services, this has implicated and halted current services until further notice.

Overall Rating

• 3.0/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 100

Regulators

FCA, CySEC

Trading Platform

MT4, AFX Fast

Crypto

Yes

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

SAFE OR SCAM

In ensuring the security of client funds and avoid loss of capital for which traders cannot be compensated should brokers be unable to meet their financial obligations, traders are advised to only use regulated brokers to facilitate trading and investment activities.

STO is strictly and well-regulated by two of the strictest and most demanding regulatory entities namely the FCA and CySEC and in complying with regulations, STO is required to keep client funds in segregated accounts.

Furthermore, there is also existing regulation and authorization through CONSOB in Italy as well as compliance with MiFID in offering offshore services along with services offered by other offices within the EU.

PRO AND CONS

LEVERAGE

Leverage is an extremely useful tool which can be used to increase the chance of gains and profit by allowing traders to open positions much larger than their initial deposits.

Under FCA regulations, EU clients are eligible for leverage of up to 1:30, while clients who hold accounts under CySEC regulations are eligible for leverage of up to 1:500.

Due to the risks involved with trading leveraged and margined financial instruments, regulatory entities such as FCA have greatly restricted brokers under their authorization and regulation in providing leverage that will not result in substantial losses.

ACCOUNTS   

When compared to other brokers, STO provides a wide variety of accounts which cater individually for an array of traders who have differing levels of skills, knowledge, and experience in addition to different trading needs, objectives, and certain limits.

The accounts, along with their features, offered by STO include:

• STO Classic account – which is an entry-level account with a minimum deposit of $100, leverage of up to 1:500 and spreads that start from 1.6 pips.
• STO Premium – which caters for more experienced traders, has a minimum deposit of $2,000, spreads that start from 0.4 pips and access to 15 different chart indicators and Expert Advisors, or EAs, for free, for three months.
• PRO – this account has a minimum required deposit of $10,000 and offers spread from 0.3 pips along with leverage of up to 1:200 along with access to chart indicators and EAs, but for an extended period of six months.
• VIP – there is a minimum deposit of $50,000 and spreads which start from 0.0 and the added benefit of gaining a year free use of comprehensive trading tools.
• AFX Fast – this account is only accessible when using the AFX Fast platform which has a required minimum deposit of $2,000 which provides STP execution along with spreads from 0.4 pips.
• Crypto Account – this is a STO proprietary account through which CFDs on Bitcoin, Ethereum and Litecoin can be traded with favourable trading conditions, a minimum deposit of #500 and leverage of 1:5.
• FIX API Account – which is used for protocol used trading and allows for fast execution along with ensuring that automated systems remain incognito. Spot Forex, CFDs on metals, indices, crypto and oil liquidity can be traded on this account.
• MAAM solutions – which is provided to money and asset managers through a variety of optimization and solutions.

In addition, STO makes provision for a demo account which can either be used as a practice account for beginners, or as a risk free trading environment for traders who wish to test their trading strategies.

MARKET INSTRUMENTS

STO offers the following tradable financial instruments:

• Forex
• Commodities
• Shares
• Cryptocurrencies
• CFDs on Cryptocurrencies
• CFDs on Metals
• CFDs on indices
• CFDs on energies

FEES

The only information available on STO’s fee schedule is that of minimum deposits and spreads offered.

Minimum deposits vary from $100 to $10,000 with spreads that vary from 0.0 pips up to 1.6 pips. Trading conditions are determined by the type of account that the trader signs up for, and there are various benefits tied to each.

There is no information that would suggest that STO charges commissions on trades that are executed, but when comparing the trading conditions to that of other brokers, traders can anticipate that some commissions may be charged on certain accounts.

There is no mention of overnight fees, but when trading financial instruments such as Forex, keeping positions open for longer when the trading day has concluded attracts, in general, overnight or swap fees.

Available information does not suggest that STO provides Muslim traders with the option of converting their live trading account to that of an Islamic Account, which relieves Muslim traders of paying overnight fees which are a type of interest prohibited by the Sharia law.

In addition, STO does not charge any fees pertaining to deposits or withdrawals, with all fees being covered by STO.

DEPOSIT AND WITHDRAWAL

STO provides traders with a variety of supported payment methods which can be used when depositing or withdrawing funds including:

• Credit/Debit Cards
• Bank Wire Transfer
• Neteller
• Skrill
• Rzelewy24
• CashU
• WebMoney
• Paysafecard, and
• Qiwi

In addition, STO supports the following deposit currencies in which deposits and withdrawals can be made:

• EUR
• USD
• GBP, and
• PLN

TRADING PLATFORMS

STO predominantly offers the use of MetaTrader 4 through which trades, and other functions pertaining to account management, can be done, but the use of the AFX Fast Platform is also offered as an additional option.

The AFX Fast Platform will be mandatory when opening an AFX Fast Account as it can only be accessed through this proprietary trading platform, but all other accounts can be run through the use of MetaTrader 4.

HOW TO OPEN AN ACCOUNT

Although there is no existing guide or additional information in opening an account with STO, it can be safely assumed that general procedures are to be followed.

This includes navigating to the STO website and selecting the option to open an account. Generally, this redirects the trader to an online application form which requires information pertaining to basic information, contact information, financial information, and more.

Once this information has been provided and the application has been submitted, there may be a waiting period that the application can be submitted to which allows for the processing and verification of provided information.

Generally, most brokers have a ‘Know Your Client’, or KYC, procedure in which traders are obliged to provide documents to prove their identity as well as their residential address.

CUSTOMER SUPPORT

STO customer support can be contacted 24 hours a day, 5 days a week, which is inline with the operating times of the Forex Market, provided that there is a weekend gap.

Support can be contacted either by email, fax, or telephone and there is also the option of using Live/instant chat. There are various offices, each with their own contact details to efficiently support clients in those regions.

EDUCATION       

STO makes provision for educational tools and resources through the following:

• Video tutorials for beginners, intermediate and advanced traders with coverage of various topics such as indicators, analysis, and more.
• Educational courses, and more.

RESEARCH         

Research tools are provided in the form of webinars, fundamental daily analysis, various trading tools and market commentary, and an economic calendar.

AWARDS

There are no rewards mentioned for STO.

CONCLUSION  

STO is a well-regulated broker that offers attractive trading conditions and a variety of options in tradable instruments and accounting options to an array of traders despite their trading objectives or needs.

There is a variety of payment methods which can be used when deposits and withdrawals are made with the added advantage that STO covers all fees with regards to both funding actions.

It should be noted that AFX Markets, Ltd. and AFX Capital Markets, Ltd. licences are currently on hold with both FCA and CySEC and although STO has not discontinued services, this has implicated and halted current services until further notice.

DISCLAIMER

There is a high level of risk involved when trading leveraged, and margined financial instruments and this level of risk may not be suitable for all traders.

Traders are advised to evaluate their level of risk along with their risk exposure and willingness to be exposed to such high levels of risk and ensure that they have adequate risk management techniques in place before investing or partaking in trading activities.

Such risks may lead to substantial losses and therefore careful deliberation is needed before making trading decisions that may potentially compromise the trader’s financial situation as losses cannot be reversed if not the fault of STO.

Overall Rating

• 3.0/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 100

Regulators

FCA, CySEC

Trading Platform

MT4, AFX Fast

Crypto

Yes

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

FAQs

Trading Environment

How many instruments can I trade with STO?

You can trade the following instruments:

• Forex
• Commodities
• Shares
• Cryptocurrencies
• CFDs on Cryptocurrencies
• CFDs on Metals
• CFDs on indices
• CFDs on energies

Which platforms are supported by STO?

Metatrader 4 and AFX Fast.

Does STO offer leverage?

Yes. STO offers maximum leverage of 1:500.

What spreads can I expect with STO?

Spreads from as little as 0.0 pips when using the VIP Account.

Does STO charge commission?

There is no indication of whether commissions are charged on trades.

Is STO regulated?

Yes. STO is regulated by FCA and CySEC

Is STO a recommended forex trading broker for experts and beginners?

Yes. STO caters for both beginners and experts.

What is the overall rating out of 10 for STO?

6/10

Accounts

What is the difference between a demo and live trading account?

A Demo Account is a risk-free account which is funded by virtual money and allows traders to either practice trading, explore the brokers offering, or test trading strategies in a mimicked live trading environment.

Does STO offer a demo account?

Yes.

For how long is the demo account valid?

This information is not available but when generally comparing demo accounts between brokers, the frequent term is 30-days.

Which live trading accounts does STO offer?

STO offers the following accounts:

• STO Classic Account
• STO Premium Account
• PRO Account
• VIP Account
• AFX Fast Account
• Crypto Account
• FIX API Account, and
• MAAM solutions

What are the available deposit currencies for a live trading account?

• EUR
• USD
• GBP, and
• PLN

Deposits and Withdrawals

What is the minimum deposit for STO?

$100.

How do I make a deposit and withdrawal with STO?

• Credit/Debit Cards
• Bank Wire Transfer
• Neteller
• Skrill
• Rzelewy24
• CashU
• WebMoney
• Paysafecard, and
• Qiwi

Does STO charge withdrawal fees?

No. All fees pertaining to withdrawals are covered by STO.

How long does it take to make a withdrawal?

This will depend on the method through which withdrawals are made along with the process involved and generally it can take between one and several business days.