Leverage: 1:30 | 1:500
Regulation: SVG FSA, FSA
Min. Deposit: $50
HQ: UK, Hong Kong
Platforms: MT4, MT5, Web Trader
Found in: 2013
STARTRADER is a Forex trading company, offering access to a range of popular trading instruments such as Forex, CFDs, Commodities, Indices, Shares, and Metals.
Based on our research, the broker is currently under the authorization and regulation of the Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and the Financial Services Authority (FSA) in Seychelles. We found that the firm was previously regulated by the Top-Tier FCA in the UK as well, however, has applied to cancel its authorization. The FCA’s website states that the company must still meet the authority’s standards in dealing with its UK customers.
In general, StarTrader is a good Forex broker providing competitive trading opportunities, and popular market assets through the widely used MetaTrader platforms. However, the company currently lacks a reputable license, therefore, we advise conducting comprehensive research before selecting StarTrader as your trading broker.
Per our findings, the broker offers several advantages and disadvantages important to consider. On the positive side, StarTrader offers competitive trading solutions, a low minimum deposit requirement, and access to a well-known MT4 and MT5 trading platform. The firm also provides a variety of funding methods and good trading tools.
For the cons, there is no 24/7 customer support available. Also, the broker has a limited number of financial instruments and markets for traders. Additionally, StarTrader does not hold a top-tier license, which could be a concern for traders who prioritize brokers with higher regulatory credentials.
| Advantages | Disadvantages |
|---|---|
| Competitive spreads and fees | No top-tier license |
| MT4 and MT5 | Limited trading instruments |
| Good trading conditions | Offshore licenses |
| Low minimum deposit | |
| Professional trading | |
| Funding methods |
| 🏢 Headquarters | UK, Hong Kong |
| 🗺️ Regulation | SVG FSA, FSA |
| 🖥 Platforms | MT4, MT5, Web Trader |
| 📉 Instruments | Forex, CFDs, Commodities, Indices, Shares, Metals |
| 💰 EUR/USD Spread | 1.3 pips |
| 🎮 Demo Account | Available |
| 💳 Minimum deposit | $50 |
| 💰 Base currencies | USD, EUR, GBP |
| 📚 Education | Provided |
| ☎ Customer Support | 24/5 |
According to our analysis, StarTrader offers favorable trading conditions, including competitive spreads and pricing for popular financial products. Traders can benefit from access to advanced trading platforms that provide a robust set of tools and features to enhance their trading experience.
| Ranking | StarTrader | Doo Prime | AMP Global |
|---|---|---|---|
| Our Ranking | ⭐⭐⭐⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
| Advanatges | Trading Spreads | Trading Conditions | Trading Instruments |
After considering multiple factors such as trading features, regulatory compliance, spreads, trading instruments, and user reviews, we have conducted an analysis and compiled a list of potential broker alternatives to StarTrader.
We found that StarTrader has received a few awards for its services over the years. Below is the screenshot that includes some of these awards.
No, StarTrader is not a scam. It is a regulated brokerage that ensures a low-risk trading environment. It is authorized and regulated by SVG FSA in Saint Vincent and the Grenadines and FSA in Seychelles. However, we recommend considering the variations that can arise when trading in different jurisdictions before engaging in trading activities.
Yes, StarTrader is a legit and regulated broker holding the necessary licenses in the regions it is registered.
However, the broker is regulated in offshore zones. Therefore, you should conduct your research, including reading user reviews and considering other factors, to assess the broker’s reputation and legitimacy.
See our conclusion on StarTrader Reliability:
| StarTrader Strong Points | StarTrader Weak Points |
|---|---|
| Segregated client accounts | No top-tier license |
| Negative balance protection | |
| Professional trading | |
| SSL encryption technology |
We found that StarTrader adheres to certain industry standards and compliance requirements, which include client fund protection and segregation from company funds. Additionally, the broker offers additional protections, such as negative balance protection, which ensures that clients do not incur losses exceeding their account balance.
However, we recommend carefully reviewing the broker’s documentation, legal agreements, and policies to fully understand the specific trading protections offered by StarTrader before engaging in trading activities.
Leverage can be beneficial for traders as it enables them to enter the market with a smaller initial investment. Nevertheless, they should possess a comprehensive understanding and the associated risks before participating in leveraged trading.
StarTrader leverage is offered according to SVG FSA and FSA (Seychelles) regulations:
Per our research, the broker offers Standard and ECN accounts that might suit the needs of different traders. The initial deposit required for all account types is $50.
| Pros | Cons |
|---|---|
| Fast and easy account opening | None |
| Low minimum deposit | |
| Demo account |
Opening an account with a broker is quite an easy process, as you can log in and register with StarTrader within minutes. Just follow the opening account or sign-in page and proceed with the guided steps:
StarTrader provides access to popular trading instruments, such as Forex, CFDs, Commodities, Indices, Shares, and Metals. However, the availability of specific trading instruments may vary depending on the entity, so we advise conducting thorough research to determine the range of options available.
Reviewing the broker’s fee structure we discovered that it offers competitive pricing for trading services. While the broker does not charge for deposits and withdrawals, additional fees may be applicable during trading activities. So, carefully review the broker’s fee structure and terms and conditions to gain a comprehensive understanding of the associated charges and their potential impact on trading operations.
| Fees | StarTrader Fees | Doo Prime Fees | AMP Global Fees |
|---|---|---|---|
| Deposit fee | No | Yes | Yes |
| Withdrawal fee | No | Yes | Yes |
| Inactivity fee | No | Yes | No |
| Fee ranking | Low/Average | Low/Average | Low/Average |
Based on our test trade, the broker provides competitive and tight spreads, with an average spread of 1.3 pips for the EUR/USD currency pair in the Forex market.
However, spreads can vary based on market conditions, volatility, and liquidity, so consult the broker’s website or contact customer support for detailed information on the spreads they offer for specific instruments and account types.
| Asset/ Pair | StarTrader Spread | Doo Prime Spread | AMP Global Spread |
|---|---|---|---|
| EUR USD Spread | 1.3 pips | 0.1 pips | 0.5 pips |
| Crude Oil WTI Spread | 1 | 3 | 2 |
| Gold Spread | 1 | 1 | 1 |
There are a variety of payment methods for broker’s clients to deposit funds into trading accounts including Bank Wire, Credit/Debit cards, Skrill, and Neteller. However, some payment methods may have specific requirements or restrictions depending on the client’s bank or other financial institutions involved.
Here are some good and negative points for StarTrader funding methods:
| Advantage | Disadvantage |
|---|---|
| Fast digital deposits | None |
| Variety of funding methods | |
| No deposit and withdrawal fees |
To open a live trading account with the broker, clients need to deposit $50 as an initial deposit amount for all trading accounts.
StarTrader minimum deposit vs other brokers
| StarTrader | Most Other Brokers | |
| Minimum Deposit | $50 | $500 |
Based on our analysis, the withdrawal process is both convenient and swift. The broker does not charge fees for the withdrawal of funds in most countries.
To initiate a withdrawal fund from your trading account, the brokerage firm provides a set of typical steps that can be followed:
The broker provides traders with access to highly recognized and popular MetaTrader 4 and MetaTrader 5.
The platforms offer a wide range of features including technical indicators, trading analysis tools, intuitive interfaces, multiple execution options, and various order types, which are suitable for various trading strategies.
| Platforms | StarTrader Platforms | Doo Prime Platforms | AMP Global Platforms |
|---|---|---|---|
| MT4 | Yes | Yes | No |
| MT5 | Yes | Yes | Yes |
| cTrader | No | No | No |
| Own Platforms | Yes | No | No |
| Mobile Apps | Yes | Yes | Yes |
We found that the broker’s Web Trader simplifies the trading experience, allowing traders to buy and sell assets effortlessly. With a user-friendly interface and real-time market data, this online platform enables quick decision-making. Web Trader also seamlessly integrates with MT4 and MT5, providing an accessible trading experience directly from your web browser.
The broker offers 24/5 customer support via live chat, email, and social media channels. Also, the support team includes trading experts who can assist with technical support, analysis recommendations, general inquiries, and operational issues.
See our find and ranking on Customer Service Quality:
| Pros | Cons |
|---|---|
| Quick responses | No 24/7 customer support |
| Supportive customer service | |
| Live chat and email |
Finally, the broker’s educational materials cover learning materials and educational videos catering to both beginners and experienced traders, all designed to enhance the knowledge and skills of traders. However, we found that it lacks in offering seminars and webinars.
To sum up, StarTrader is a regulated brokerage firm that offers competitive trading conditions, access to a range of financial instruments, and advanced trading platforms. The broker provides favorable pricing, along with tight spreads for various trading activities. Another plus is the low minimum deposit requirement and the availability of different payment methods.
In general, StarTrader provides a reliable trading environment suitable for traders at different skill levels. However, we advise conducting your research and evaluating whether the broker’s offerings suit your specific trading requirements, also considering the regulatory environment and potential variations across jurisdictions.
Based on Our findings and Financial Expert Opinions StarTrader is Good for:
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