Star Trader Review: Hostile Broker

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Star Trader Review: Hostile Broker

Star Trader ( is another Chinese targeted brokerage firm with unknown interests. StarTrader is another re-invention after their Star Trader Robot was deemed unworthy. These brokers are anonymous and targeting Chinese traders all over the world. Complaints have reached our help desk in regards to how the broker is treating members. With no withdrawals available, it is clear this is a rogue platform. To protect our readers, we must expose the platform. Read this genuine STAR TRADER Review for more.

Star Trader Review

About Star Trader

The company which claims to be operating and running the platform is Star Trader PTE Limited. We conducted a thorough research and found no such company exists. Most of the company registers do not have such a company. A search using web engines reveals no such existing company. And this is an indication we are dealing with an anonymous company profile. With anonymity comes a scam broker out to steal from unsuspecting investors. It is best to stick with top rated brokers with a solid trading reputation.

Star Trader is a well-planned scam platform out to steal from unsuspecting online investors. The broker is targeting Chinese investors based in America and Europe. Only scam artists post such false information and post false documents. We will later reveal how the platform has been using false license and registration details. It is best to stay away from this platform and never use any of their products.

Assets Listed

The broker claims to have commodities such as oil. They also claim to offer Forex, Indices, and Stock trading assets. Precious metals listed include Gold and Silver. There is no indication of the leverage and spreads available on the Forex entities. And lack of information regarding trading features is another worrying trend. These scam brokers want to steal from investors without them sweating. Such platforms must be exposed to help keep the online trading world safe from impostors.

Business Owner

Anonymity is the name of the game when it comes to scam brokers. The company has not named any CEO or CFO which is a huge problem. With the company’s information missing from the engines, it is clear we are dealing with a fraud. Scam brokers will create false company information to throw off investors. It is best to get the full ownership details of the platform before committing. Anonymity is a dangerous character to associate with.

Domain Details

According to the trusted domain register, their website was recently created. The website was created on 9th November 2019. And this makes the platform less than six months old as of publishing this article. The claim of having over seven years of online trading experience is a lie. These scam brokers are using false dates to try and buy their reputation. Thanks to having reliable domain registers, we can verify when the broker actually opened shop.

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License and Registration of Star Trader

Star Trader is NOT LICENSED OR REGISTERED by the NFA. These scam brokers have posted a false document with the initials NFA AUTHORIZATION on it. Scam brokers will do or say anything to try and make their platform appear legit. And this is as a result of some investors demanding to see actual authorization details. These scam brokers have converted a word document into a certificate template. The information is not visible as it would be in a real license certificate.

To confirm their license status, we had to reach out to the National Futures Association. The NFA has no such platform listed on their register. Other regulatory bodies we contacted were planning to issue a warning in regards to this broker. The CFTC is one of the many regulatory bodies which plan to blacklist the broker. With complaints reaching other European regulatory bodies, the broker will soon be banned. It is best to steer clear as the broker has no intention of offering transparent trading services.

Limitations of Star Trader

Account Types

Star Trader Account Types

Star Trader is not vivid on the account types available on their platform. Most of the victims claim they were urged to give control of their accounts to an account manager. It would seem the platform offers a PAMM account type which is not the case. The entire platform has no information regarding account features. And this is a huge problem to members as they don’t know the acceptable minimum deposit.

Customer Support

Another disturbing issue with Star Trader is lack of vivid information regarding contact and support. Members have been complaining of sluggish response time with the emails. With scam brokers, they try and resist any contact with would be victims. And this is another valid reason to stay away from this illicit platform. These are scam brokers who just want investors to deposit funds with them.

Funding Accounts

These are clear scam artists as they don’t indicate their depository channels on their homepage. Members are promised that the deposit will reflect on their account which is not the case. Most of the victims claimed to try and file a chargeback with the bank to no avail. It is why investors need to know that a broker offers depository and withdrawal methods before signing up.

Personal Account Manager

These scam brokers have hired call agents to act as account managers. They call members demanding that they deposit more funds to increase their chances of winning. And this is one of the many reasons why we should expose the platform. Star Trader is using unconventional means to sign unsuspecting investors. And this is another reason why everyone should stay away from this platform.

Trading Platform

Star Trader is claiming to use MT5 trading terminal as their tool of trade. After careful checking out their account page using a member’s account, this is not the case. The platform is actually using a custom made platform which has no security software. Lack of DDoS protection and SSL encryption is evident with the slow response time. Trading with such a platform is risky as it invites attacks from third parties. It is best to avoid the platform and go for products and services recommended by experts.

Safety of funds with Star Trader

The safety of funds is not guaranteed with a broker who has no trading history or record. With an anonymous broker, segregation of accounts is far from taking place. It means Star Trader is pooling funds in one account which is against trading regulations. There’s no compensation plan in play as dictated by trading laws. The broker does not participate in any compensatory scheme. And this is another reason to stay away from the platform.

Scam or Legit Star Trader

Star Trader Trading Platform

Avoid this broker as they have false documentation. Mark their promotional emails as spam and stay away from any links sent. Warn your family and friends from joining any of their affiliate programs. These are scam brokers who will stop at anything to get your funds. StarTrader is a scam which authorities should shut down from the web.

Bottom Line

By adding the broker to our scam blacklist, we ensure no one else falls for their trap.

Stay safe by using Forex products which have been given the green light by the trading community. An excellent example is credible brokers with a solid background.

All traders should focus on using reliable and safe trading products and services.

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