What is Cornerstone？
Cornerstone, founded in 2010 and headquartered in London, is an Electronic Money Institution that provides international payment and currency management solutions for businesses and individuals. They help businesses make payments to suppliers, buy property, and pay staff in different countries.
Cornerstone's provides various services backed by Cornerstone Global Payments Network, including international payments (send and receive payments in over 58 key currencies to 150+ countries), multi-currency accounts (hold and manage multiple currencies in one account), and foreign exchange hedging (protect your business from currency fluctuations).
It should be noted that Cornerstone currently lacks valid regulation, it is indeed a significant concern. Operating without proper regulatory oversight raises potential risks for clients. Individuals and businesses engaging with it should be cautious and aware of the regulatory landscape to ensure the security and legality of their transactions.
Pros & Cons
Pros:
Support for multiple key currencies: The availability of 58+ key currencies on Cornerstone Global Payments Network provides users with a broad spectrum of options for conducting international transactions and currency trading.
Available in multiple countries: The broad coverage of countries and regions supported by Cornerstone Global Payments Network, spanning Africa, the Americas, Asia, Europe, the Middle East, and Oceania. This extensive reach allows clients to conduct international transactions in diverse geographical areas, providing flexibility and convenience for businesses and individuals engaged in cross-border activities.
Multi-currency account: Whether youre a business looking to hold funds in multiple currencies or an individual, Cornerstone can help you manage, maintain, and distribute funds in up to 37 currencies in the multi-currency account.
Cons:
Is Cornerstone Safe or Scam？
While Cornerstone offers a wide range of supported currencies and countries, which can be convenient for international transactions. It is important to note that Cornerstone currently lacks valid regulation, which is a significant concern. The absence of proper regulatory oversight in the financial industry can pose potential risks for clients. Regulatory frameworks are essential for ensuring the security, transparency, and legal compliance of financial institutions.
Without regulation, there may be uncertainties about the company's adherence to industry standards, customer protection measures, and financial stability. It is crucial for individuals and businesses to consider these factors when evaluating the safety and legitimacy of a financial service provider.
Payment Platform
Cornerstone provides international payment services powered by the Cornerstone Global Payments Network. The Cornerstone Global Payments Network is strategically designed to provide customers with extensive transaction capabilities on a global scale.
One of the key strengths of the Cornerstone Global Payments Network lies in its ability to facilitate transactions in 150 countries. The network spans a remarkable presence in 146 jurisdictions, offering companies a diverse range of locations to establish their operations.
Moreover, the network supports transactions in 58 key currencies, offering users a comprehensive suite of options for conducting international transactions and managing various currency-related aspects. This diversity in supported currencies enhances the flexibility and adaptability of the platform, allowing users to navigate the complexities of the global financial landscape.
Accounts
Backed by Cornerstone Global Payments Network, Multi-Currency Account offered by Cornerstone is designed for international payments. It allows businesses to hold funds in multiple currencies and facilitates individuals in opening a virtual IBAN account. Users can manage, maintain, and distribute funds in up to 37 currencies across a broad range of countries.
How to Open a Cornerstone Account？
Follow these steps to seamlessly set up your account if you want to open an account.
Step 1: Hit the ‘Sign up’ button at the top of the page.
Navigate to the official website and initiate the account creation process by clicking on the designated 'Sign up' button.
Step 2: Provide the required information.
Fill in your essential details, including your first name, last name, email address, mobile number, then create a secure password and confirm it.
Step 3: Complete the registration.
Finalize the registration process by clicking the 'Create my login' button. This action submits your information and completes the account creation procedure.
Currencies Supported
Cornerstone's support for transactions in 58 key currencies, such as the Australian Dollar, Canadian Dollar, Danish Krone, Euro, Hong Kong Dollar, and others, underscores its commitment to providing users with a versatile and comprehensive suite of options for international transactions. This diverse range of supported currencies allows businesses and individuals to engage in cross-border activities with flexibility and ease.
For businesses involved in global operations, the ability to transact in multiple currencies is crucial for managing international payments, conducting trade, and navigating the complexities of diverse financial landscapes. Cornerstone's currency support empowers users to efficiently handle various currency-related aspects, including sending and receiving funds, mitigating currency risks, and optimizing financial strategies across different regions.
Customer Service
Cornerstone demonstrates a commitment to comprehensive customer support by providing clients with multiple channels for communication. This accessibility is crucial for addressing inquiries, resolving issues, and ensuring a positive user experience.
Phone: +44 (0) 203 971 4865;
Email: info@cornerstonefs.com;
Contact Form: https://cornerstonefs.com/contact-us/;
Twitter: https://www.twitter.com/fs_cornerstone;
Linkedin: https://www.linkedin.com/company/cornerstonefs/;
Conclusion
In conclusion stands as an Electronic Money Institution providing international payment and currency management solutions. Its offerings include support for transactions in over 58 key currencies through the Cornerstone Global Payments Network, making it a versatile choice for businesses and individuals engaged in cross-border activities. The availability of multi-currency accounts, allowing users to hold and manage funds in up to 37 currencies, adds a layer of convenience for those navigating diverse financial landscapes.
However, the absence of valid regulation poses a significant concern. Operating without proper regulatory oversight raises questions about the security, transparency, and legal compliance within the institution. Regulatory frameworks are vital for establishing industry standards and ensuring the fair treatment of clients. Potential users are advised to approach Cornerstone with caution, carefully considering the risks associated with the lack of regulatory backing.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
