Introduction to StarTrader
StarTrader claims to be a global forex and CFD trading platform. The company claims to provide regulated and trustworthy trading services. However, many traders have categorized it a suspicious broker with potential fraudulent activity. After taking a closer look at the broker, there are several concerning indications that warrant attention from any prospective investor.
Website: https://www.startrader.com
Website Availability: Yes
Address: 601 Office, Business Tower, Business Village, Port Saeed, Dubai, P.O. Box 129621, UAE.
Domain Blacklisted Status: It seems there is no direct mention of this domain being on a blacklist.
Questionable Regulatory Claims
StarTrader claims to be regulated in Saint Vincent and the Grenadines…but there is no forex regulation there whatsoever. In fact, the SVG Financial Services Authority (svgfsa.com) explicitly states that they do not monitor any trading activity, hence the exposure of their customers cannot be monitored. There is not existing regulatory oversight of the broker which unfortunately exposes client funds to risks.
Troubling History and Rebranding Pattern
Another concerning note is StarTrader’s apparent history of rebranding. Originally serving as Origin ECN, and eventually also springing up as Gemini Capital Markets and IV Markets…StarTrader adopts a new name every time it accrues poor reviews. Rebranding is a frequent behavior of scam brokers to evade review and evaluation.
Withdrawal and Access Issues
Users have experienced frozen accounts, withdrawal failures, and neglected support! More than one users has lost months worth of income because promised 24 hour (or sooner) withdrawals become weeks, or a request has varied results and they didnt see a large portion of what they expected!
Frequently Asked Questions
1. Is StarTrader a regulated broker?
No! StarTrader is “regulated” by SVG – which is no consumer protection as they do not regulate forex brokers.
2. Can you trust the withdrawal process for StarTrader?
Users regularly report either aty the least extreme, long delays or at the worst delayed to the point of complete denial of their withdrawal at StarTrader – which makes it very difficult to trust it.
3. Has StarTrader changed its name before?
Yes! StarTrader does change names to make their old bad reputation go away, from the complaints about the services they provide.
How to Recover Funds from StarTrader Scam
If you’ve been scammed by StarTrader, you can still take steps to recover your lost money. Visit Report Scam to file a report and receive expert assistance.
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