StoneX

StoneX Information

As a part of StoneX Group Inc (NASDAQ:SNEX), StoneX offers trading services in forex, futures and options. It implements fund segregation to protect customer assets. It offers a free demo account for practicing and 4 live accounts for clients to choose from. Trades are executed on StoneX Futures Trader and the iBroker mobile App.

However, there is no active regulatory information displayed on the StoneX platform.

Pros and Cons

Is StoneX Legit?

The most important factor in measuring the safety of a brokerage platform is whether it is formally regulated. StoneX is an unregulated broker, which means that the safety of users' funds and trading activities are not effectively protected. Investors should choose StoneX with caution.

What Can I Trade on StoneX?

Account Type

Except for demo accounts for practicing before commiting real money, StoneX offers four different types of live accounts target different client groups, namely Individual and Joint Accounts, Trust Accounts, Corporate Accounts, and Retirement Accounts.

Trading Platform

StoneX offers two powerful trading platforms, StoneX Futures Trader and IBROKER Mobile.

StoneX Futures Trader provides advanced features like real-time quotes, customizable charts, and a variety of order types, risk management, automation, and allocation blocks streamline trading.

While IBROKER Mobile allows users to trade on the go, offering real-time market data, alerts, and a fully customizable trading interface. The app is downloadable on iPhone, iPad, Android phones and can be accessed through the web.

Fees

StoneX charges several fees:

• Telephone order fees: $25/per order
• Check fees: first check request is free, each additional check requested in the same month will be $5; domestic delivery fees is $35 for overnight check
• Wire fees for deposit: ❌
• Wire fees for withdrawals: USD 25 for domestic wires, USD 35 for international wires
• Inactivity fees: $15 per month for inactive accounts for 3 months