Is this a legitimate company.

Scam Broker Check 🛡️
1

Hello, can you look into a company by the name of STP – capitals to see if this is a legitimate trading entity. According to them , I have w withdrawal pending however they’re asking for an additional $365 a conversion fee to transfer bitcoin into Fiat in order to transfer to US currency. Is this a legitimate transaction thank you.

2

Hey there,

Thanks for your message! Is this the URL of the provider you are referring to: https://stp-capitals.com? If so, I believe it’s a scam. Please do not give them any more money.

Here are the reasons:

  1. Lack of Regulation: STP Capitals is not regulated by any financial authorities. If a company is not regulated by financial authorities, it means it doesn’t follow strict industry standards or protections. This increases the risk for you since there is less oversight. In case of problems or fraud, you would have limited ways to recover your money or resolve disputes. This is a major warning sign of a scam.
  2. Lack of Transparency: The website provides limited information about the company and does not offer clear details about its operational processes.
  3. Fee Structure: The request for an additional $365 fee to convert Bitcoin into fiat currency is unusual and raises concerns. Legitimate brokers typically deduct any necessary fees directly from the trading account rather than requiring additional payments.
  4. Customer Reports: There are indications that STP Trading has practices that could be concerning, such as unusual transaction requests or reluctance to provide clear information about fees and processes​.

If you have any further questions please let me know.

Best wishes,
Andris