History and Execution
Startrader was built not long ago at the start of the year 2019 as an international online broker and this is very evident in its aim of providing global market consumers with the latest possible means of trading. Despite its status as a relatively new player in the field, Startrader has been able to establish itself through competitive pricing and reliable services.
Mission and Vision
Startrader is built to provide a transparent trading experience in an advanced way to all of its customers. Its vision is to empower traders around the globe to discover financial goals they can reach through innovation and trust in their banking activities.
Global Office
The company is situated in Seychelles, and has offices in parts of Asia. Clients are received from over 190 countries, making it possible to arrange multilingual support and localized solutions.
Pros and Cons
Elements of Strength vs. Room for Improvement
Pros
- Competitive spreads
- Multiple deposit and withdrawal options
- Reliable customer support
- VPS reimbursement
Cons
- Limited research content
- No phone support
- No compensation scheme
Security and Regulations
Licenses
StarTrader is dealing with the Financial Services Authority (FSA) of Seychelles to acclimate itself to this regulation.
Segregated Funds And Insurance
Traders' investments are kept in distinct accounts at Tier-1 banking institutions, with the additional benefit of negative balance protection, ensuring their losses do not surpass more than what they have deposited.
Tradable Instruments:
Forex Pairs
Trade with 60-plus forex-majors, minors, and exotic currency pairs. With tight spreads and flexible leverage up to 1:500.
Commodities
Clients can place trades in famous commodities like Gold, Silver, Crude Oil, and Natural Gas at the most competitive prices and the lowest possible requirements of margins.
Indices
All major world financial markets can be accessed through the world indexes such as NASDAQ, S&P 500, FTSE 100, and DAX.
Cryptocurrencies
It allows the trader to take full advantage of digital asset volatility by supporting some of the largest cryptocurrencies such as Bitcoin, Ethereum, and Ripple.
Account Types:
STP
Minimum deposit | 0 |
---|---|
Commission | 1.0 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 1:500 |
Margin call level | 50 |
Stop-out level | 20 |
ECN
Minimum deposit | 0 |
---|---|
Commission | 0.0 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 1:500 |
Margin call level | 50 |
Stop-out level | 20 |
Fees and Charges
Spread and Commissions
Commission-less trading on Standard accounts starts at 1.0 pips and an ECN starts from 0.0 pips on raw spreads with very low commission USD 4 per lot.
Swap Rates
Overnight rates are charged to positions that are taken overnight, while a definite rate is disclosed for all bank accounts—and there is absolutely no such swap for Islamic accounts.
Inactivity Fees
As part of default policy, an inactive fee is applicable on non-utilized accounts for longer periods on STARTRADER policies.
Trading Platforms
Available tools | Forex, Shares, Indices, Commodities |
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CFD | Forex: 50 Commodities: 4 Energy: 4 Indices: 20 Stocks: 700 |
MetaTrader 4 and 5
Both platforms are available and bring many functionalities and software tools. These two platforms include the necessary bar row functions for good chart reading, excellent for use with the help of assistant software, and feature various indicators for efficient trading.
Mobile Trading Apps
Trade from your iOS or Android apps while on the go with your account allowing access still.
WebTrader
Web-based trading through WebTrader eliminates the necessity for you to install anything and is so far the easiest way to get to all required trading functions.
Customer Support
Step-by-step Process to Account Setting up
The registration process is simple through STARTRADER. Once the application is completed online, an account-type selection must be made, with any required verification documents submitted.
Verification Requirements
For international traders, verification just means sending identification via passports or national ID card and proof of address or utility bill and bank account for the client relationship manager to confirm their status.
Deposits and Withdrawals
Methods of Payments
Bank, credit/debit cards, e-wallets: StarTrader offers numerous methods to pay and makes transactions of deposits safe and feasible among these options.
Turnaround Time
Trade transfers are immediate but withdrawals take 1-3 business days, depending on the method used for withdrawal.
Charges Connected with This Purpose
There is usually no charge for many deposits in general, but withdrawal fees may be applicable to certain methods. These fees are available for further details on the site from the broker.
FAQ
Is the broker regulated?
Yes, the organization is under the regulations of the Financial Services Authority (FSA) from Seychelles.
What are the trading platforms on which a person can trade?
The broker has MetaTrader 4, MetaTrader 5, WebTrader, mobile trading apps (iOS/Android) as platforms for trading.
So, how much should a minimum deposit be made?
For standard accounts, this can start at $50 and ECN accounts would need at least $200.
What kinds of account types can be found at the brokerage?
They offer Standard, ECN, and Islamic Account options to best meet the requirements of different trading styles.
What fees and commissions are charged?
This company charges some particular fees as well as some commission on a transaction over an ECN account. There will be a 'swap rate' over an overnight. The company may be charging some inactive fees for dormancy.
What is the maximum leverage you can access?
From 1:500, leverage can be maximized depending on the account and jurisdiction.
Does this company have demo accounts?
Yes, the broker offers demo accounts through virtual funds, for users to practice and test their strategies.
If I need help, how do I talk to customer support?
24 hours is the support time, and language is no barrier to those willing to talk with support staff through phone, e-mail or live chat.