The financial sector is rapidly changing and the regulators in most developed countries have made it safer than ever before for the retail traders to get started with the markets. Sadly, there are a large number of firms which pedal fake narratives and are acting like a cancer in the system. Star Fx Pro is a broker who claims to be regulated in many regions around the world.
However, if you run a search on them, you won’t be able to find any relevant information for obvious reasons. The team behind this company is working anonymously and they have a lot of weird policies which are borderline shady to say the least. Their platform was recently established and apart from getting considerable web traffic, there isn’t anything positive about them.
The list of flaws, misrepresentations and other associated things with them is something which we cannot cover in one post. To know the crucial information about this broker and the way they interact with the public, stick with us till the end.
Is Star Fx Pro Regulated
Nowadays a lot of firms claim to be regulated even though they aren’t simply to earn the trust of the investor or trader. As most people don’t know the ways to verify or cross check the information. It makes it easier for the culprits to get away with the lies and make immense revenue in a short period of time. Star Fx Pro claims to be regulated by the CFTC, IFSC and CySEC. The names used by them are all reputable and they uphold the firms under their watch to strict standards.
One of the main problems with this platform is that they haven’t shared any registration numbers or other related details. So, we had to go old school on them, but the things we found exposed the real nature of this firm. There was no information about them on any regulatory body and as such, it clearly proves that they don’t have the best interest of their clients on their mind.
Every trader who has ever interacted with unregulated entities knows that sooner or later, the amount of risk they have to take is immense and not worth it too. To avoid facing a similar situation with no real upside, stick to the regulated exchanges or else your capital will never be safe.
Contact Information
Star Fx Pro has been around for less than a couple of months as of publishing this report. They do feature few contact information, but it doesn’t necessarily instill trust. We don’t know their exact working hours and they don’t offer multi-lingual support.
The average time required by them to handle a chase or a query is also unknown. While most brokers offer things like callback service, livechat, this one doesn’t support any of it and that kind of approach makes them feel a bit outdated.
- Address – East 14th Street, New York, NY 10003, United States
- Phone – +1 (281) 694-4523
- Email – support@starfxpro.com
Charting and Trading Platforms Offered
Star Fx Pro supposedly supports a web based trading platform along with MT 4 and 5 platforms. As we couldn’t open an account with them due to our geographical location, we cannot comment anything on it yet. Nonetheless, all of the web based trading interface offers limited functionality and no professional trader would be happy with the default offerings.
The presence of MetaTrader support is a positive sign and it opens up a whole new world of functionality and practicality to the retail traders. From employing automated systems to creating custom indicators, they can modify the things to their needs and even if they don’t know coding, they can find a lot of free indicators just by visiting a few forums.
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We don’t know whether this platform allows hedging strategies and as we don’t know the typical spreads too, it acts as a dealbreaker to the high frequency traders. If you are looking for features such as social or copy trading, then you have to look elsewhere because this firm doesn’t offer anything similar to it.
Asset Class and Spreads
According to the information we found on their website, they offer forex, cryptocurrencies, indices and commodities. Also, they claim to offer binary options to the residents of the United States. While we have already covered their legality aspect, let us make it clear that when it comes to binary options the odds will always be against the client and there is a way around it.
Spreads are said to be dependent upon the account type you choose. However, as they didn’t showcase live rates, we don’t have any metric to assess them. If you belong to the long term positional trader category, then they might be okay to proceed with, but for a lot of people, this broker will never be the perfect fit.
Moreover, we don’t know the margin level a client has to maintain in order to hold onto a position. In short, the lack of information will seriously affect people and we strongly advise you to check all the information beforehand.
Star Fx Pro Feedback
As this website was registered on 20th January 2021, we don’t have much user feedback to rely on. Generally, people always look for customer reviews on platforms such as Trustpilot or Forexpeacearmy to get a sense of actual reputation a firm has earned. Remember, reviews are not always reliable and to an extent it is possible to manipulate this aspect.
However, the truth cannot be hidden for long and as such, it is comparatively the best way to assess the health of a firm. Due to their domain era, they haven’t got much attention on any website, but if you are interested to know more about them, then just wait for few more months. After all, time will tell us everything about everyone and there is no exception to the rule it holds and implies.
Deposit and Withdrawals
All the reputable forex brokers make their policies on funding and payment crystal clear. Their goal is to make people aware of the fees involved and give them a clear idea on the fees as well. Now, due to the legal restrictions many brokers aren’t even offering welcome bonuses and speaking from experience, it is a wise move which will benefit everyone involved.
Star Fx Pro hasn’t given much information about their policies on deposits and withdrawals. In simple words, we don’t know the fees associated with transactions, payment methods they support and the processing time they need. Also, the conditions regarding inactivity fees are also kept confidential by them.
Shady brokers always mask their policies and twist the rules for their own benefit. The kind of control they have over our funds is unjustifiable and certainly that kind of behaviour should never be rewarded.
Star Fx Pro Review Conclusion
Star Fx Pro doesn’t look like a reliable broker by any means. They bluff about their certificates, lie to clients and twist any information on their platform to suit their agendas. While they may provide few so-called benefits like daily signals and negative balance protection, know that they aren’t worth the risk involved. Moreover, the accuracy of their signals aren’t verified by any third party.
So, to safeguard your best interest, it is wise to avoid them and as long as you are looking for a reliable broker, make sure they are regulated. If you have lost money to this broker or to any other fraud platform, then fill out the contact form available on this post.
We offer free consultation to everyone regardless of your location and will show you the best way to get back the funds lost. Our team has over 30 years combined experience which means the odds are definitely on your side.
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They are just one big fraud they make sure you get nothing by introducing unscrupulous policies when you are supposed to make a withdrawal. I just lost nearly $2000 to them this month
They got me for $500