The online trading market is a very volatile and unpredictable one, which means that navigating through it can be quite challenging, especially if you are new to the game. As such, it is important to carry out due diligence before choosing a broker to work with. In this review, we will be taking a closer look at fx-star.com, a broker that has been in operation for a while.
Overview
Fx-star.com is an online trading platform that claims to offer forex and CFDs trading services. The broker promises traders access to a wide range of trading instruments, including commodities, cryptocurrencies, and stocks. Additionally, the broker boasts of user-friendly trading platforms and competitive trading conditions.
Is Fx-star.com Regulated?
Unfortunately, Fx-star.com is an unregulated broker. This means that there is no oversight, and the risk of fraudulent activities is significantly higher. They just mentioned and hyperlinked the button with their UK business directory registration site. We know this site only provides online business registration. Their certificate does not imply regulation.
Warnings from Financial Regulators
It is quite alarming that several financial regulators have issued warnings against fx-star.com. The Financial Conduct Authority (FCA), which is the UK financial regulator, has blacklisted fx-star.com as an illegal broker that is operating without authorization. Other regulators that have warned against the broker include the Financial Supervision Authority (EST), the Cyprus Securities and Exchange Commission (CySEC), and the Autorité des Marchés Financiers (AMF) in France.
What Currency Pairs Do They Offer?
Fx-star.com offers a wide range of currency pairs that traders can trade. These include major pairs such as EUR/USD, USD/JPY, and GBP/USD, as well as minor pairs like AUD/NZD and USD/SEK. However, before you begin trading, it is important to note that the broker does not provide favorable trading conditions.
Customer Support
Good customer support is essential for any broker. However, customer support is one of the areas where fx-star.com falls short. The broker’s customer support team is not very responsive, and it can take several days to get a response to a query. Additionally, the broker does not offer live chat support, which would make communication easier and more efficient.
Trading Platform
Fx-star.com offers various trading platforms, which include a web-based platform, a mobile platform, and the popular MetaTrader 4 platform. The platforms are user-friendly, and traders can access several tools and indicators to enhance their trading experience. However, this does not negate the fact that fx-star.com is an unregulated broker.
What Do Traders Think About fx-star.com?
A quick search on various trading forums and review sites reveals that the overall sentiment towards fx-star.com is negative. Several traders have reported issues with the broker, including poor customer support, withdrawal issues, and irregular trading conditions. Most traders have urged caution when dealing with this broker.
What To Do If You Get Scammed?
If you believe that you have been scammed by fx-star.com, the first thing you should do is contact their customer support team. If you do not receive a satisfactory response, you can take things a step further by contacting the financial regulator in your region. Additionally, you can report the fraudulent activities of fx-star.com on several websites like ours. We will analyze your case and will provide you with a free consultation and service recommendations to help you in recovering the money.
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Final Thoughts
In conclusion, after reviewing fx-star.com, we recommend that traders avoid this broker. Fx-star.com has been blacklisted by several financial regulators, which is a significant red flag. Additionally, the broker lacks transparency and offers unfavorable trading conditions. Trading with unregulated brokers always carries high risk. Therefore, it is advisable to conduct thorough research before choosing a broker to work with.
