Broker Review

StepOneMarkets (or Step 1 Markets) presents itself as an online broker offering trading in forex, CFDs, crypto, commodities, and more. Their marketing claims include:

• Over 150 trading instruments across asset classes

• Leverage up to 1:500 (or possibly higher in some accounts)

• Low commission, tight spreads, fast execution, and no dealing desk

• A minimum deposit requirement (e.g. USD 100)

• Various account types (Classic, Standard, ECN) with different spreads/commissions

 Red Flags

1. Not Regulated

• No valid financial license from trusted regulators (e.g. FCA, ASIC, CySEC).

• FCA (UK) issued an official warning against the firm.

2. FCA Scam Warning

• FCA warns this firm is providing financial services illegally in the UK.

3. Anonymous or Fake Company Details

• Vague or unverifiable address and company registration info.

• They use fake office locations

4. No Transparency

• No clear disclosure of owners, regulators, or legal structure.

• Website lacks proper legal documentation or real-time support.

5. Complaints About Withdrawals

• Users report withdrawals being blocked, delayed, or denied.

• Excuses like “verification fees” or extra deposits often used.

• 6. Demands for Extra Payments

• Users say they’re asked to pay more money to:

  • “Unlock profits”

  • Complete “KYC”

  • Pay withdrawal “processing” or “activation” fees

• This is a classic scam tactic.

7. Fake Profits / Account Manipulation

• Platform may show fake balances or profits.

• Trading results might not match real market data.

8. Disappearing Support

• After deposit or attempted withdrawal, communication stops.

• Support staff vanish, emails bounce, phone numbers don’t work.

9. High Leverage (1:500+)

• Excessive leverage is risky and often used by unregulated brokers to lure inexperienced traders.

• 10. Too-Good-To-Be-True Promises

• Claims of guaranteed profits, fast returns, or “VIP” investment schemes.

• No legitimate broker will promise profits.

Conclusion

Avoid dealing with steponemarkets.com