STICPAY Scam Warnings Over Withdrawal Refusals

Multiple traders report that STICPAY withdrawals are being delayed for weeks or not processed at all, raising major reliability concerns. A respected Japanese FX site and trading forums have issued public cautions warning against using STICPAY for broker deposits or withdrawals. STICPAY itself clarifies it is an electronic money service, not a bank, regulated in Mauritius and Labuan, meaning client recourse depends on filing complaints through those jurisdictions. Both individual users and brokers are advised to stop routing funds through STICPAY until there is sustained evidence of normal operations. If funds are already stuck, users should document everything, escalate complaints in writing, and consider chargebacks or broker-assisted re-routing.

Multiple recent, documented user reports describe withdrawals that are delayed for weeks or not processed at all when using STICPAY. A major Japanese FX information site has issued a public caution not to route broker withdrawals or deposits through STICPAY at this time. STICPAY’s own legal pages confirm it is not a bank, operating as an electronic money wallet under Mauritius/Labuan frameworks—important context for how complaints and recovery routes work. Until these issues are transparently fixed, do not use STICPAY for any deposit or withdrawal. If you have funds trapped, follow the step-by-step recovery plan further below.

What we can state with evidence today

1) Users are reporting prolonged withdrawal failures and very slow payouts

In April–May 2025, multiple public reviews describe withdrawal requests pending for weeks—far beyond the wallet’s stated timelines. These are not isolated older posts; they’re this year’s complaints and name specific request dates and amounts.

2) Trading communities have flagged STICPAY as an unreliable payout partner recently

On Deriv’s official community forum (June 11, 2025), a detailed thread cites failed large transactions, low daily limits far below expectations, and days of unresponsiveness from STICPAY, with the broker and the wallet each deflecting accountability. This is a fresh, concrete example of the pattern users are reporting.

3) A respected Japanese FX information portal issued a formal caution on August 22, 2025

Kaigai-Toushi (a long-running, widely referenced resource for Japanese FX traders) published a notice stating many cases of “withdrawal refusals” have been reported and advising against using STICPAY for broker deposits/withdrawals right now. This is a current, dated advisory—not a rumor thread.

4) STICPAY’s legal status matters for how your money is protected (and how you complain)

STICPAY’s Terms of Use clarify that your account is an “electronic money account,” not a bank account, governed by Mauritius law for the Mauritian entity (STIC LTD; license GB20026026, FSC Mauritius) and by Labuan, Malaysia rules for STIC Financial Ltd (LFSA MB/21/0073). It also lists the UK and US among “countries not allowed,” which is material for users expecting recourse under UK/US regimes. This isn’t a judgment; it’s the wallet’s own disclosure and dictates where you escalate complaints.

What this means for traders and brokers right now

• Operational risk is elevated. When a wallet repeatedly fails to process withdrawals on time, or at all, you face liquidity and counterparty risk at the wallet layer—not just at the broker. The cost is not only money; it is operational downtime and reputational harm (for firms) and opportunity loss (for traders).
• “It’s just a delay” is not a plan. A payment partner should absorb routing issues and communicate proactively. The pattern we’re seeing includes silence or generic responses, forcing users to become their own case managers.
• Your legal path is specific. Because this is e-money (not a deposit in a bank), your escalation route is regulatory/ombudsperson in Mauritius or Labuan, not a traditional bank deposit scheme. Knowing that route—and documenting everything—is key.

Do this now (individual users)

1. Stop sending any new funds through STICPAY. Use bank transfer, card (with clear refund rules), or a different wallet with a clean, verifiable track record at your broker.
2. If you have a pending withdrawal, create a complete case file: Transaction IDs, wallet balance screenshots, timestamps, KYC status, and all email/chat threads. Note the promised service-level timeline versus actual elapsed days.
3. Escalate in writing to STICPAY Support (keep it factual and timestamped). Reference the transaction ID(s), request an unambiguous status, and ask for a dated commitment to complete payout.
4. Parallel escalation to your broker. If the broker pushed you to STICPAY as the only route, request a fallback payout method (bank wire or equivalent) and a written confirmation of when they will switch the route.
5. Raise a formal complaint with the regulator/ombudsperson that has jurisdiction over STICPAY’s entity handling your account:
   • Mauritius (FSC / Ombudsperson for Financial Services): complaint process and forms are public; you can file after first complaining to the institution.
   • Labuan FSA (Malaysia): complaint channels and a standard complaint form exist.

   Provide your full case file and a clear ask: immediate release of funds, explanation for breach of stated timelines, and confirmation of remedial measures.

6. If you funded STICPAY by card or bank transfer, speak to your issuer. Ask about chargeback or recall procedures for undelivered services. Your success depends on how funds were loaded and your issuer’s rules, but it’s often the fastest way to restore liquidity. (This step is general consumer banking practice; it complements but doesn’t replace the regulatory complaint.)
7. Preserve everything. Don’t delete emails, tickets, or app logs. If you must record calls, comply with local law and disclose where required.

Do this now (brokers and fintechs)

• Suspend STICPAY routing for both deposits and withdrawals until documented, sustained stability is proven. Communicate the change to clients with exact dates and replacement rails (bank transfer, card, other vetted e-wallets).
• Offer immediate alternatives for any client with funds currently parked in STICPAY and be willing to re-route payouts. Publish a brief service bulletin so support teams can point clients to a single, authoritative update.
• Monitor STICPAY tickets on behalf of clients where you originated the payout. If a client’s funds are stuck, take ownership of the escalation chain and provide date-stamped updates.
• Document everything for your compliance file: volume affected, tickets opened, response times, outcomes, and any fees charged to clients due to re-routing.

Frequently asked questions (practical, not promotional)

Can I rely on broker pages that still list STICPAY?

Not safely. Some brokers’ pages are not real-time and may show a method even when it’s degraded in practice. Prioritize methods where payout speed is under the broker’s direct control (e.g., bank transfer) and where your bank’s dispute rights are clear. If a broker insists STICPAY is the only route, escalate and request an alternative.

Does STICPAY say withdrawals can be declined?

Yes. Its own terms say transactions may be declined at their discretion; they also emphasize it’s an electronic money account (not a bank). This shapes expectations and your recourse path.

Who exactly regulates STICPAY?

Per its terms: STIC LTD is registered with the Mauritius Financial Services Commission (Payment Intermediary Services GB20026026). STIC Financial Ltd is registered with Labuan FSA (Money Broking & Payment System operator MB/21/0073). Complaints should follow the relevant jurisdiction’s process.

Is there any quick fix?

There’s no universal “unlock.” The fastest outcomes typically come from card chargebacks/recalls (if applicable), broker-assisted re-routing, and regulatory complaints backed by a thorough paper trail. (Use the complaint links provided.)

Model complaint template you can adapt

Subject: Formal Complaint – Non-payment of Withdrawal (STICPAY Transaction ID: [ID])

To Whom It May Concern,
I submitted a withdrawal on [date] for [amount, currency] (Transaction ID [ID]). Your published guidance indicates processing within [stated timeline]. As of [today’s date], [X] business days have elapsed without settlement or a credible ETA.

Requested action:
1) Immediate release of funds to [destination details];
2) Written confirmation of the root cause and the exact settlement date;
3) Reimbursement of any fees/charges caused by the delay.

Attached: screenshots of the transaction, account balance page, identity/KYC confirmation, full email/chat history.

If unresolved by [reasonable deadline, e.g., 5 business days], I will escalate to [Mauritius Ombudsperson for Financial Services / Labuan FSA] and to my funding institution for remedy.

Sincerely,
[Your name]
[Account email / phone]

Bottom line

• Do not use STICPAY for deposits or withdrawals until there is clear, sustained, and independently verifiable evidence that payouts are functioning normally again.
• If your funds are stuck, act now: build the record, press STICPAY and your broker in writing, and file with the correct regulator/ombudsperson based on STICPAY’s own legal disclosures.

Sources for the five most load-bearing facts

• Recent user reports of prolonged, unresolved withdrawals (April–May 2025).
• Deriv community post citing failed large transaction and unresponsiveness (June 11, 2025).
• Japanese FX site advisory cautioning against using STICPAY for broker payouts (Aug 22, 2025).
• STICPAY’s own Terms of Use: e-money account (not a bank), Mauritius/Labuan governance, license numbers.
• Official complaint channels: Mauritius Ombudsperson/FSC and Labuan FSA.

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