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Saint Vincent and the Grenadines|1-2 years|
Suspicious Scope of Business|High potential risk|


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+44 12-3456789
Suite 305, Griffith Corporate center, Kingstown St. Vincent and the Grenadines


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Saint Vincent and the Grenadines

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Warning: Low score, please stay away! 2
Previous Detection : 2024-07-18
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

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FOREXSTAR · Company Summary

Aspect Information
Registered Country Saint Vincent and the Grenadines
Founded Year 2022
Company Name FOREXSTAR
Regulation Unregulated
Minimum Deposit $250 (Micro Account)
Maximum Leverage 1:1000
Spreads From 1.8 (Micro Account) to 0 (Zero Fixed Account)
Trading Platforms Not Clearly Specified
Tradable Assets Currencies, Stocks, Commodities
Account Types Micro, Premium, VIP, Zero Fixed
Customer Support UK-based phone number, Email (
Payment Methods Bank Transfer, Credit Card


FOREXSTAR, established in 2022 in Saint Vincent and the Grenadines, operates as an unregulated brokerage firm, which immediately raises red flags regarding its credibility and the safety of client funds. The lack of regulatory oversight suggests potential risks in areas like fair trading practices and transparency. The company's minimum deposit starts at $250 for a Micro Account, and while it offers high leverage up to 1:1000 and spreads as low as 0 on its Zero Fixed Account, these features are overshadowed by the significant concerns surrounding its operations.

The trading platforms used by FOREXSTAR are not clearly specified, adding to the ambiguity and potential insecurity of their trading environment. Although it deals in a range of tradable assets including currencies, stocks, and commodities, and offers various account types, the lack of a Demo and Islamic account limits the inclusivity and testing options for new traders.

Customer support is notably limited to a UK-based phone number and an email address, lacking immediate, real-time assistance methods like live chat. The website's poor functionality, characterized by non-functional links and a missing download section for its trading platform, further detracts from the user experience and professionalism expected from a financial services provider.



FOREXSTAR is a brokerage firm that operates in the foreign exchange market without regulatory oversight. This lack of regulation raises significant concerns for traders and investors, as unregulated brokers are not bound by the stringent rules and standards typically enforced by financial authorities. Such brokers often operate outside the protective frameworks that ensure fair trading practices, transparency, and the security of client funds. Without regulatory supervision, clients of FOREXSTAR might face heightened risks, including potential issues with fund withdrawal, opaque pricing structures, and inadequate dispute resolution mechanisms. This situation underscores the importance of thorough due diligence and the need for traders to exercise caution when engaging with unregulated entities in the Forex market.


Pros and Cons

The assessment of FOREXSTAR's services reveals a mix of advantages and disadvantages. On the positive side, the broker offers a variety of trading products across currencies, stocks, and commodities, catering to a diverse range of trading preferences. Additionally, the range of account types, including Micro, Premium, VIP, and Zero Fixed Accounts, allows traders to choose an option that aligns with their trading style and capital availability. However, significant concerns overshadow these positives. The lack of regulatory oversight is a major drawback, potentially affecting the security of client funds and fair trading practices. The limited customer support options and the poorly maintained website, lacking crucial information and functionality, further contribute to the negative aspects. These issues collectively suggest that while FOREXSTAR has some appealing features, the negatives, particularly the lack of regulation, might outweigh the positives for many potential clients.

Pros Cons
  • Variety of Trading Products
  • Unregulated Broker
  • Offers major currency pairs, stocks, and commodities
  • Lack of regulatory oversight raises concerns about fund security and fair practices.
  • Range of Account Types
  • Limited Customer Support
  • Micro, Premium, VIP, and Zero Fixed Accounts to suit different trading styles and capital.
  • Only a UK-based phone number and email for support; no real-time assistance.
  • Poor Website Functionality
  • Non-functional links and lack of clear information about trading platforms.

Market Instruments

FOREXSTAR, as a brokerage firm, offers a variety of trading products catering to the diverse needs of traders. Their portfolio includes a range of instruments across currencies, stocks, and commodities, each with unique characteristics and trading strategies.

Currencies: FOREXSTAR provides access to major currency pairs, including the most traded ones, which are essential for any forex trader. These include:

  • Major Pairs: Such as USD/EUR, USD/JPY, GBP/USD, where the US Dollar is often a base or counter currency.

  • Minor Pairs: Without the USD, like EUR/GBP, AUD/NZD.

  • Exotic Pairs: Involving currencies from emerging economies like the Brazilian Real, South Korean Won, or the South African Rand.

Trading in currencies involves understanding concepts like base and target currencies, pips, and spreads. For example, in a USD/EUR pair, USD is the base currency and EUR is the target. Profits are made on the movements of these currencies against each other.

Stocks: FOREXSTAR offers trading in stocks, allowing investors to buy shares in various companies. Key points include:

  • Exchanges: Stocks can be traded on major exchanges like NYSE, NASDAQ, and other global markets.

  • Types of Stocks: Diversification is possible with different stock types from small, mid, to large-cap companies.

  • Ticker Symbols: Each stock is identified by a unique ticker symbol.

  • Trading Strategy: The goal is to buy stocks at a lower price and sell them at a higher price.

FOREXSTAR emphasizes the importance of portfolio diversification across various sectors and geographies.

Commodities: Traders at FOREXSTAR can engage in commodity trading, which includes:

  • Hard Commodities: Like gold, silver, crude oil, and iron ore.

  • Soft Commodities: Agricultural products such as wheat, rice, and beans.

  • Futures Contracts: Commodities can be traded through futures contracts, allowing traders to speculate on the future price of these goods.

Commodities are traded on exchanges like CBOT or NYMEX and offer a way to hedge against inflation or diversify investment portfolios.

Market Instruments

Account Types

FOREXSTAR offers a variety of account types, each tailored to different trading styles and levels of experience.

Micro Account:

This account type is designed for novice traders or those who prefer to trade with small volumes. The Micro Account offers spreads starting from 1.8 and requires a minimum deposit of 250 USD. It allows for flexible leverage up to 1:1000, accommodating aggressive trading strategies. Traders can choose their base currency from a diverse range including USD, EUR, GBP, AUD, JPY, BTC, PLN, and CZK. The minimum lot size is set at 0.01, and there is no commission on trades. This account type also provides 24/7 access to a dedicated account manager and a dealing department transaction hotline, ensuring support is always available.

Premium Account:

Targeted at more experienced traders who are willing to invest a higher capital, the Premium Account requires a minimum deposit of 1,000 USD. It offers slightly tighter spreads starting from 1.6 and also features a high leverage option up to 1:1000. The base currency options are the same as the Micro Account, providing flexibility in trading. Like the Micro Account, the minimum lot size is 0.01, and there is no commission charged. Premium Account holders also benefit from the continuous support of a dedicated account manager and access to the dealing department transaction hotline.

VIP Account:

The VIP Account is tailored for high-volume professional traders, with a significantly higher minimum deposit requirement of 10,000 USD. This account type offers even lower spreads, starting from 1.4, catering to traders looking for the best possible trading conditions. The leverage available is up to 1:1000, and the base currency is limited to USD. The minimum lot size remains at 0.01, and there is no commission on trades. VIP account holders have the advantage of 24/7 access to a dedicated account manager and the dealing department transaction hotline, providing an enhanced trading support experience.

Zero Fixed Account:

This account type is unique in offering zero spread, appealing to traders who prefer trading with the tightest possible spreads. The minimum deposit is set at 500 USD, and the leverage available is up to 1:500, which is lower than the other account types. The base currency options are USD and EUR. The minimum lot size is 0.01, but unlike other account types, the Zero Fixed Account does charge a commission on trades. This account also provides continuous access to a dedicated account manager and the dealing department transaction hotline.

Account Types


FOREXSTAR offers a high trading leverage of up to 1:1000, which is considerably higher than typical standards in the forex market. This leverage ratio means that traders can control a position 1000 times the size of their actual invested capital. For instance, with a $1,000 investment, a trader can manage a $1,000,000 position. While this high leverage can significantly amplify potential profits, it also proportionally increases the risk of substantial losses, making it a tool that requires careful risk management.

Spreads and Commissions

FOREXSTAR offers different spreads and commission structures across its various trading accounts, tailoring to the diverse needs of traders.

Micro Account:

  • Spreads: This account type offers spreads starting from 1.8, which is suitable for novice traders or those trading smaller volumes.

  • Commissions: There are no commissions on trades, making it a cost-effective option for those starting out or with limited capital.

Premium Account:

  • Spreads: The Premium Account features slightly tighter spreads, beginning from 1.6. This can be beneficial for more experienced traders who deal with larger trade sizes.

  • Commissions: Similar to the Micro Account, the Premium Account does not charge any commission, thus allowing traders to manage their costs more effectively.

VIP Account:

  • Spreads: Offering the lowest spreads among the account types, starting from 1.4, the VIP Account is designed for high-volume, professional traders.

  • Commissions: Despite the low spreads, this account also benefits from having no commission on trades, which can significantly reduce trading costs for active traders.

Zero Fixed Account:

  • Spreads: Unique among the account types, the Zero Fixed Account offers zero spreads, appealing to traders who prioritize trading with the tightest spreads available.

  • Commissions: Unlike the other accounts, this account charges a commission on trades. The presence of a commission with zero spreads makes it a preferred choice for some traders, especially those who trade frequently or in large volumes.

Deposit & Withdrawal

FOREXSTAR provides its clients with the option to make deposits and withdrawals using bank transfers and credit cards, which are among the most common and secure methods for financial transactions in the trading industry. For deposits, clients can transfer funds directly from their bank accounts or use their credit cards, ensuring a quick and efficient transfer of capital into their trading accounts. Similarly, for withdrawals, earnings can be transferred back to the client's bank account or credited to their credit card, depending on their preference. Both methods are known for their reliability and security, but it's important to note that processing times and potential fees may vary depending on the client's bank or credit card provider, as well as any applicable regulations or policies of FOREXSTAR.

Deposit & Withdrawal


FOREXSTAR's website presents certain limitations and concerns regarding user experience and trustworthiness. Firstly, the website does not clearly specify the trading platform it uses. This lack of information can be a significant drawback for traders who are accustomed to popular platforms like MetaTrader or cTrader and rely on specific platform features for their trading strategies. Moreover, the absence of a download section for the trading platform further adds to the inconvenience, as it prevents traders from easily accessing the necessary tools to begin or continue their trading activities.

Secondly, a notable number of links on the FOREXSTAR website are non-functional or lead to dead pages. This is a concerning issue as it not only hampers the user experience but also raises questions about the website's maintenance and the broker's overall reliability. Functional and up-to-date website content is a basic expectation from a reputable financial services provider. Dead links can be a red flag for potential clients, suggesting a lack of attention to detail or, in a worst-case scenario, questioning the legitimacy of the broker itself. It is crucial for traders to exercise caution and conduct thorough due diligence when encountering such issues, especially when considering entrusting funds to a brokerage.


Customer Support

FOREXSTAR's customer support appears to be limited and potentially inadequate, which could be a major concern for traders seeking reliable and accessible assistance. The primary contact number provided for English support is a UK-based number (+44 12-3456789), which might not be convenient for international clients due to potential time zone differences and the cost of international calls. Furthermore, the lack of multiple contact numbers for different regions or languages suggests a lack of comprehensive global support, potentially leaving non-English speaking clients underserved.


In summary, FOREXSTAR presents a range of concerning issues that potential clients should carefully consider. The lack of regulatory oversight is a significant red flag, as it implies potential risks in terms of fund security, transparency, and fair trading practices. The absence of clear information about the trading platform, combined with the absence of a downloadable platform, further adds to the uncertainty and inconvenience for traders. Additionally, the presence of numerous non-functional links on their website raises serious questions about the broker's reliability and commitment to maintaining a professional online presence.

Furthermore, the customer support options are notably limited and potentially insufficient, lacking real-time assistance methods like live chat, and providing only a single contact number and an email address. This could lead to challenges in getting timely support, particularly for international clients.

Overall, these factors collectively paint a picture of a brokerage that may not meet the standards expected in the trading industry, and traders should proceed with caution and conduct thorough due diligence before engaging with FOREXSTAR.


Q1: Is FOREXSTAR regulated by any financial authorities?

A1: No, FOREXSTAR operates without regulatory oversight, which means it does not adhere to the stringent rules and standards enforced by financial authorities. This lack of regulation raises concerns about fund security, fair trading practices, and transparency.

Q2: What types of trading accounts does FOREXSTAR offer?

A2: FOREXSTAR offers several account types, including Micro, Premium, VIP, and Zero Fixed Accounts, each with varying minimum deposits, spreads, and leverage options. These accounts are designed to cater to different levels of trading experience and investment capacities.

Q3: Can I trade commodities and stocks with FOREXSTAR?

A3: Yes, FOREXSTAR provides trading options in various market instruments, including currencies, stocks, and commodities like gold, silver, crude oil, and agricultural products. This allows for portfolio diversification across different asset classes.

Q4: What are the customer support options available at FOREXSTAR?

A4: FOREXSTAR's customer support is limited to a UK-based phone number and an email address. The lack of multiple contact numbers or real-time assistance like live chat can lead to potential delays in addressing client queries or issues.

Q5: Are there any concerns about the FOREXSTAR website functionality?

A5: Yes, there are notable concerns. The FOREXSTAR website lacks clear information regarding its trading platform and does not offer a download section for it. Additionally, many links on the website are non-functional, which raises questions about the site's maintenance and the broker's overall credibility.

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more than one year
Disappointed with FOREXSTAR broker. I've faced 'connection issues' for the third time in less than a month. No trouble logging into any other website, so it's not my internet. If you have open positions, the risk is significant.
2024-01-12 18:58
A 狼
more than one year
Even though I haven't seen anyone claiming to have been scammed by FOREXSTAR, I would advise everyone to be vigilant because the company doesn't seem reliable enough when it comes to security.
2023-03-09 10:56


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