General Information
STARTRADER is allegedly a broker based in Seychelles, regulated by Financial Conduct Authority (FCA), Saint Vincent and Grenadines (SVG) and Financial Services Authority Seychelles (FSA), claiming to provide its clients with a powerful MetaTrader4 trading platform, over 170 tradable financial products with leverage up to 1:500 and variable spreads from 0.0 pips, as well as a choice of two different live account types and 24/5 customer support service.
Market Instruments
STARTRADER advertises that it offers access to more than 170 trading instruments across six asset classes in financial markets, including forex, metals, indices, cryptocurrencies, shares and commodities.
Account Types
Apart from free demo accounts, there are two live trading accounts offered by STARTRADER, namely STP Account and ECN Account. Opening any class of account requires the minimum initial deposit amount of $50.
Leverage
The maximum leverage ratio provided by STARTRADER is much higher than most brokers, up to 1:500. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Spreads
Spreads are significantly affected by what type of accounts traders are holding. STARTRADER says that clients on STP Account can experience spreads starting from 1.3 pips, While the clients with ECN Account will enjoy low spreads from 0 pips.
Trading Platform Available
When it comes to trading platforms available,STARTRADER gives traders three choices: MetaTrader4, MT4 Mobile and Web Trader, available on desktop (Mac, Windows), Mobile devices like tablets and smartphones compatible with iOS and Android systems. Note that the MT4 is compatible with Microsoft Windows 2008/7/8/10 operating systems and Internet speed should be at 56 kbps or above. MT4 is known as the industry-standard trading platform, providing 50+ preinstalled technical indicators, 24 analytical tools, 3 chart types and 9 timeframes, one-click trading & trade from charts, trailing stop, Expert Advisors (EAs) for algorithmic trading and more.
Tools
STARTRADER offers traders three different kinds of tools, including VPS, Economic Calendar and News Room. The broker claims that VPS can reduce Latency and make access easier, as well as offer maximum stability, strong compatibility and a private server. Also, it offers two attractive reimbursement options for VPS services. In particular, the reimbursement cap of Tier 1 is $20 per month, while of Tier 2 is $30 per month. And the reimbursement thresholds of Tier 1 are $3000+ initial funds and 5+ trading lots monthly, while Tier 2 is $5000+ initial funds and 10+ trading lots monthly. Another tool provided by STARTRADER is Economic Calendar, which can help traders view the upcoming economic reports, previous economic events, consensus forecasts and estimated volatility. The broker also provides a newsroom, which is advertised as to be equipped with expert comments and well-analyzed reviews on the current situation of various financial markets as well as the most up-to-date brokerage news.
Deposit & Withdrawal
STARTRADER accepts deposits and withdrawals via Wire Transfer, credit/debit cards like MasterCard and Visa, cryptocurrency transfers, e-wallets such as Sticpay, Perfect Money, Skrill, Neteller and more. The minimum deposit requirement is $50. The broker says it doesnt charge any deposit or withdrawal fees, but some International Telegraphic Transfer fees may be charged by the banking institution, approximately $20. As for the processing time of deposit and withdrawal requests, any payments made via bank wire transfer could take 3-5 working days to show on an account.
Customer Support
STARTRADERs customer support can be reached through telephone: +864001201725, email: SUPPORT@STARTRADER.COM, live chat or send messages online to get in touch. Besides, you can also follow this broker on some social media platforms like Facebook, Instagram, Twitter, LinkedIn and YouTube. Registered address: Flat/Rm A, 12/F, ZJ300, 300 Lockhart Road, Wan Chai, Hong Kong.
