Startrader Review: SVG Offshore Broker

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Startrader Review
  • Fund Safety
  • Customer Support
0.5

Summary

Startrader uses technology to provide liquidity in financial products. You can trade currencies, commodities, indices, and stocks. It was purportedly started in 1994. Whois.com, however, tells a different story. We found that the company domain was registered on 1st August 2023 and will expire in 2024.

Today, there is a plethora of online forex trading brokers on the internet. Many of these claim to offer the best trading conditions to attract investors. Unfortunately, however, some are scammers. Working only with honest and reputable crypto brokers is essential as a trader.

Startrader Review, Startrader.com Features

 

A broker like Startrader is an excellent example of these scam brokers. This scammer masquerades as a legitimate investment company. Upon closer investigation, however, one soon realizes that they are nothing like what they claim. This review will reveal some disturbing facts about this shady broker.

About Startrader

According to the company website, Startrader uses technology to provide liquidity in financial products. You can trade currencies, commodities, indices, and stocks. It was purportedly started in 1994. Whois.com, however, tells a different story. We found that the company domain was registered on 1st August 2023 and will expire in 2024.

The platform has various accounts to choose from, each with its own parameters. In one of their accounts, they offer “VIP signals.” These trade signals are supposedly so accurate that you can hardly lose. However, any experienced trader knows that there is no such thing as an accurate signal and that losses are inevitable.

Founders and Team

One of the suspicious aspects about this broker is how they hide information. They have lied about the company’s inception date, and notably, there’s no information about the founders. They haven’t also named their current leadership. Without this crucial data, it is hard to gauge their genuineness.

Startrader Review, Startrader Company

 

By examining the company leadership, one can tell if they are trustworthy. For example, if the leader’s reputation is marred with scandals, then it’s possible the company they are leading is not transparent. This is why most scam brokers don’t reveal who their leaders are.

Contact Details

As a trader, one must constantly communicate with their broker. This is because so many updates within your account can require your attention. Also, many new traders have many questions and uncertainties about the trading business. A broker should, therefore, be at your beck and call.

This broker has noted that they can contact them via email if they have any questions or need any technical or trading support. A reliable broker should have at least a phone number and a physical address. This will enable swift communication in case one has an issue.

Startrader Regulation Status

The main reason for trading is to make money. Therefore, It is sad that some traders lose money through unscrupulous, unregulated companies. If you trade with such brokers, it is likely that you will not get what they promised. Further, the withdrawal process is usually long and frustrating.

Startrader is a broker under the umbrella of Startrader a firm registered in St. Vincent and the Grenadines (SVG). This region is known for its lax financial laws and regulations.

Germany’s Federal Financial Supervisory Authority (BaFin) has recently issued a warning about Startrader noting that it is operating unlawfully in the country.

Startrader Trading Conditions

The broker offers three different accounts. The minimum deposit for a basic account is $250, and $50,000 for a gold account. The spread is below two pips, but the leverage is not specified. The broker mentioned that one advantage of trading with a bigger account is free education and signals.

Although they claim to have a cutting-edge trading platform, it only resembles others offered by unreliable brokers. There are few tools to analyze a trade on this web-based platform. Once you make a profit, the broker is not transparent about how the withdrawal process works.

Final Verdict       

With all the red flags related to this company, we can conclusively say they are scammers. As an offshore broker, they can quickly flee with your money. Most shady companies prefer to operate in offshore regions to avoid strict regulations.

There are numerous reputable crypto trading brokers you can work with instead. Financial watchdogs regulate these and are transparent in their operations. They also have a physical address so you can visit them. In the meantime, stay away from Startrader.

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