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STARTRADER Review 2024

By:
Vladimir Zernov
Reviewed By:
Ola Alder
Updated: Dec 9, 2024
Overall Rating
4.0
  • Trust
    3.5
  • Fees
    4.4
  • Platforms and Tools
    4.2
  • Tradable Instruments
    4.7
  • Customer Support
    3.2
  • Research
    3.1
  • Deposit and Withdrawal
    4.9
  • Account Types and Terms
    4.9
  • Education
    3.1
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.
    Chart

    Our Take on STARTRADER

    Established in 2013, STARTRADER is a versatile multi-asset CFD broker. Whether you’re interested in forex, commodities, indices, stocks, or cryptocurrencies, STARTRADER provides access to the renowned MetaTrader 4 and MetaTrader 5 platforms. Our evaluation revealed that the broker offers a moderate range of assets and competitive spreads, making it a favorable option for traders globally.

    STARTRADER Pros and Cons

    Pros Cons
    • Competitive spreads
    • Multiple deposit and withdrawal options
    • Reliable customer support
    • VPS reimbursement
    • Limited research content
    • No phone support
    • No compensation scheme

    Is STARTRADER Right for You?

    When reviewing a broker, we assess if it suits different trading strategies and trader profiles. To achieve this, we evaluate the availability of the necessary features and tools. Here’s our verdict about STARTRADER:

    Casual Trading: Acceptable Choice

    STARTRADER offers more than 850 tradable instruments at competitive spreads and two popular retail trading platforms – MetaTrader 4 and MetaTrader 5. However, the broker lacks comprehensive educational content.

    Social and Copy Trading: Perfect Match

    The broker has developed an excellent proprietary trading platform for social and copy trading, on which signal providers and signal followers can interact and benefit from each other’s needs and goals.

    Swing Trading: Acceptable Choice

    STARTRADER offers a diverse range of lower-risk securities like ETFs and higher-yield/risk assets, such as share CFDs, allowing swing traders to exploit longer-term opportunities and also hedge their market exposure. However, the broker’s swap fees were quite elevated during my test.

    Day Trading: Acceptable Choice

    Day traders can benefit from STARTRADER’s diverse instrument offering and better-than-average spreads. On the other hand, the broker does not offer any top-of-the-line research content, such as trading signals by Trading Central or Autochartist.

    Scalping: Perfect Match

    Scalpers can utilize MetaTrader’s one-click trading, allowing for instant entries. Moreover, the broker offers Virtual Private Server (VPS) hosting for low-latency trading and ultra-fast order execution speeds of around 5 milliseconds.

    News Trading: Acceptable Choice

    STARTRADER has a vast pool of liquidity providers, meaning that the broker maintains high execution standards even when the market is strained. However, it lacks robust market research, which is crucial for news trading.

    Automated Trading: Perfect Match

    The broker incorporates MT4 and MT5, which facilitate algo trading via Expert Advisors (EAs). The two platforms also have built-in strategy testers so that traders can perfect the parameters of their algorithms. Moreover, algo traders can achieve ultra-fast order execution speeds using VPS hosting.

    The broker does not provide any real stocks for value investing.

    What Sets STARTRADER Apart?

    StarTrader stands out with its competitive spreads and VPS reimbursement program, features that are particularly valuable for seasoned traders. Additionally, the broker’s cryptocurrency offerings are notably robust compared to the industry standards.

     I opened a Standard account with the STARTRADER International Pty Ltd entity and performed my tests on the desktop and mobile versions of the MetaTrader 5 platform. Some features and services may vary depending on where you reside.

    STARTRADER Main Features

    ☑️ RegulationsFSCM (Mauritius), ASIC (Australia), FSA (Seychelles)
    🗺 Supported Languages
    English, French, Portuguese, Thai, Arabic, Spanish, Chinese, Japanese, Malaysian
    💰 ProductsCurrencies, Stocks, ETFs, Crypto, Indices, Commodities
    💵 Min Deposit$50
    💹 Max Leverage
    1:500 (FSCM), 1:30 (ASIC), 1:500 (FSA)
    🖥 Trading Desk TypeNo dealing desk, ECN
    📊 Trading PlatformsMT5, MT4
    💳 Deposit Options
    PerfectMoney, Wire Transfer, Skrill, Neteller, E-wallets, SticPay, Cryptocurrencies, SolidPay, CroinPlus, BetcatPay, My Fatoorah, Credit Card, Debit Card
    💳 Withdrawal Options
    Wire Transfer, Neteller, Skrill, PerfectMoney, E-wallets, SticPay, Cryptocurrencies, Credit Card, Debit Card, My Fatoorah, BetcatPay, CroinPlus, SolidPay
    🤴 Demo AccountYes
    🗓 Foundation Year2013
    🌎 Headquarters CountrySeychelles
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    STARTRADER Full Review

    Trust

    3.5
    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    Established in 2013, STARTRADER operates through five entities across the globe. Three of these entities are regulated by ASIC, FSC Mauritius, and FSA Seychelles, while the remaining two are unregulated and registered offshore. STARTRADER offers negative balance protection and ensures client funds are held in segregated accounts for added security.

    Entity Features  Startrader Prime Global Pty Ltd Startrader Financial Markets Limited STARTRADER Ltd STARTRADER International PTY Ltd STARTRADER LLC
    Country/Region Australia, Sydney Mauritius, Ebene Seychelles, Mahe Hong Kong St. Vincent and the Grenadines
    Regulation ASIC FSC FSA Unregulated Unregulated
    Tier 1 3 3 NA NA
    Segregated Funds Yes Yes Yes Yes Yes
    Negative Balance Protection Yes Yes Yes Yes Yes
    Compensation Scheme No No Up to EUR 20,000 under The Financial Commission No Excess of Loss Policy of up to $1 million + Up to EUR 20,000 under The Financial Commission
    Maximum Leverage 1:30 1:500 1:500 1:500 1:500

    STARTRADER Regulations

    In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

    • Startrader Prime Global Pty Ltd is licensed and regulated by the Australian Securities and Exchange Commission (ASIC) under license number 421210. We rate ASIC as a Tier-1 regulator.  
    • Startrader Financial Markets Limited is licensed and regulated by the Financial Services Commission (FSC) of Mauritius under license number 66663183. We rate the FSC as a Tier-3 regulator. 
    • STARTRADER Ltd is licensed and regulated by the Financial Services Authority (FSA) of the Seychelles under license number SD049. We rate the FSA as a Tier-3 regulator. 
    • STARTRADER International PTY Ltd is registered in Hong Kong. The entity is not regulated.
    • STARTRADER LLC is registered in St. Vincent and the Grenadines with the SVGFSA. The entity is not regulated.
    STARTRADER Ltd record at FSA Seychelles
    STARTRADER Limited record at FSA Seychelles
    STARTRADER PRIME GLOBAL PTY LTD record at ASIC
    STARTRADER PRIME GLOBAL PTY LTD record at ASIC

    Understanding the Regulatory Protections of Your Account

    Brokers operate multiple entities globally, but regulatory protections vary. Some regulators enforce stricter financial standards than others, so traders should understand the safety measures of the entity they choose to open an account with.

    Here is what you need to be looking for in a broker in terms of safety mechanisms:

    • Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. All STARTRADER entities keep client funds in segregated accounts.         
    • Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. All STARTRADER entities guarantee negative balance protection. 
    • Compensation scheme. A compensation scheme protects traders against the broker’s liabilities if the company becomes insolvent. Clients of STARTRADER Ltd and STARTRADER LLC are protected by up to EUR 20,000 as the two entities are members of The Financial Commission. Clients of STARTRADER LLC are protected by up to $1 million under the broker’s Excess of Loss Policy.    
    • Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The maximum retail leverage with STARTRADER is 1:500.

    Stability and Transparency

    In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and information transparency.

    I reviewed the broker’s legal documents and policies and found everything to be in order. STARTRADER’s Client Agreement is easily accessible on the website, with all relevant information presented clearly. The language used is straightforward, making it easy for even less experienced traders to understand the terms and conditions.

    However, my main concern is the absence of live spread data on the main webpage. This lack of transparency makes it challenging for traders to accurately evaluate the broker’s fees.

    Is STARTRADER Safe to Trade With?

    In summary, my research indicated that STARTRADER can be regarded as having a sufficient level of trust and stability due to the following factors:

    • Has issued an Excess of Loss policy
    • A member of The Financial Commission
    • Guarantees the segregation of client funds and negative balance protection
    • Essential legal information is easily accessible and transparent

    Fees

    4.4
    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    I assessed STARTRADER’s trading fees to be competitive. My tests showed that spreads for the Standard Account were mostly lower than the industry average, while the swap fees were slightly higher.

    STARTRADER Trading Fees

    For this review, I tested the Standard Account, which features floating spreads, swap/rollover fees, and zero commissions. STARTRADER also offers a commission-based account.

    STARTRADER Spreads

    I tested StarTrader’s spreads on 2 December 2024 during the London and New York opens. The results are shown in the table below:

    Instrument Live spread AM Live spread PM Industry Average
    EURUSD 1.4 1.2 pips 1.08 pips
    GBPJPY 1.3 2.1 pips 2.44 pips
    Gold (XAUUSD) 20 18 pips 25 pips
    WTI Oil 0.05 0.02 pips 0.03 pips
    DAX  0.6 0.40 basis points 2.4 basis points
    Dow Jones  1.3 1.0 basis points 3.3 basis points
    Apple n/a 0.20 points 0.25 points
    Tesla n/a 0.30 points  0.5 points
    Bitcoin $34.24 $41.18 $35.5

    My findings indicate that broken down by asset class and compared to the industry average, STARTRADER charges low spreads on commodities, share CFDs, and indices, average spreads on currency pairs, and slightly elevated spreads on cryptocurrencies.

    Swap Fees

    A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

    The values listed below are for one full base currency contract (100,000 units).

    Instrument Swap Long Swap Short
    EUR/USD Charge of $6.47 Credit of $2.57
    GBP/JPY Credit of $12.8 Charge of $30.88

    My tests showed that STARTARDER’s swap charges are average to high compared to the industry benchmark. Please keep in mind that rollover charges change over time.

    Non-Trading Fees

    STARTRADER does not charge inactivity or other non-trading fees.

    Are STARTRADER’s Fees Competitive?

    My hands-on testing revealed that STARTRADER boasts highly competitive fees for trading in a range of assets, including GBP/JPY, Gold, Apple, Tesla, DAX, and Dow Jones. However, I estimated that the spreads for EUR/USD and Bitcoin are less competitive.Platforms and Tools

    4.2
    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    STARTRADER incorporates the standard suites of MetaTrader 4 and MetaTrader 5. It has also developed a proprietary trading platform for social and copy trading and offers a Virtual Private Server (VPS) hosting for low-latency trading.

    Platform/Tool Suitable For
    MetaTrader 4 Basic technical analysis, simple order execution, automated trading
    MetaTrader 5 Basic technical analysis, simple order execution, automated trading
    MT4/MT5 Apps Trading on the go
    Copy trader Replicating the winning strategies of other traders
    VPS Hosting Low-latency trading

    STARTRADER MT5 Desktop

    The desktop version of the MetaTrader 5 platform features multiple essential tools, such as one-click trading, an alarm setting option, and a market depth tool. These allow traders to examine various market developments from different angles and exploit the underlying trading opportunities in multiple ways.

    MetaTrader’s depth of market tool
    MetaTrader’s depth of market tool

    MT5 is arguably best suited for automated trading via its Expert Advisors (EAs). The platform also has an intuitive strategy tester, allowing experienced algo traders to tweak the parameters of their strategies so that they can be used under different market conditions.

    MetaTrader 5’s main panel
    MetaTrader 5’s main panel

    The MetaTrader platform is easy to navigate. Even beginner traders can quickly learn where the charts, account info, and watch lists are. However, its cumbersome charts make the platform somewhat difficult to use.

    STARTRADER’s MT5 platform is available on both Windows and Mac and supports 52 different languages, including English, French, Spanish, German, Arabic, Chinese, and more.

    In addition to the above-mentioned depth of markets tool, MT5 also features:

    • Alerts-Setting Option: Traders can set alerts for when the price of a given instrument falls/rises to a predetermined level, which could potentially signal a viable entry opportunity.
    • Watchlist Customization: Traders can populate watchlists with their favorite instruments and track market changes more easily.
    • One-click Trading: This feature enables instant market entries at the spot price and is invaluable for high-precision traders, such as scalpers.
    • Trading from the Chart: Traders can place conventional trading orders directly from the chart, specifying the entry price, volume level, stop and take-profit levels, and more.

    Charts

    I consider the charts screen a platform’s most important feature. It facilitates technical analysis by providing an overview of price action behavior. Chart artists use many analytical tools and chart configuration possibilities to examine it from multiple angles. In my experience, the really important aspect of a chart is how easy it is to scale price action up and down.

    MetaTrader 5’s charts screen
    MetaTrader 5’s charts screen

    As shown above, a common issue with MetaTrader is that charts can quickly become cluttered, even with just two indicators. This can obscure price action and make it harder to perform detailed technical analysis.

    I have broken down the available analytical tools and chart configurations below:

    • 38 technical indicators: These include trend-based and volume-based indicators, along with oscillators to analyze price action and assess market sentiment, helping predict market movements.
    • 24 drawing tools: Tools like Fibonacci retracement levels and Elliott waves help identify price patterns, support/resistance levels, and breakout points. However, MT5’s design can make price action harder to interpret.
    • 21 timeframes: For multi-timeframe analysis, enabling detailed price action analysis.
    • 3 chart types: Price action can be displayed as line, bars, or candlesticks, offering diverse perspectives on trading opportunities.

    Orders

    MetaTrader 5’s order placing screen
    MetaTrader 5’s order placing screen

    MetaTrader 5 features three types of order execution: market, pending, and one-click trading (top-left corner). One-click trading allows immediate entries at the spot price.

    I have broken down the available order types on the MetaTrader 5 platform below:

    • Market orders: Used for immediate entry at the best available price. They guarantee volume filling, though the entry price may differ from the requested price.
    • Limit orders: Guarantee exact price entries but won’t be filled if the price doesn’t reach the trigger level.
    • Stop orders: They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

    MT5 Desktop: My Key Takeaways

    MetaTrader 5 is a good option for fast and simple order execution. However, its dated and rugged design falls short compared to newer, sleeker platforms. As a trader who prioritizes flexible charts that are easily scalable, I find MT5’s charting capability too rigid and less effective.

    STARTRADER MT5 App

    The MT5 mobile app affords quick and easy access to the market on the go. It is very useful for opening, terminating, and adjusting open positions. The app is available for both IOS and Android.

    The market is continually evolving, marked by periodic surges and declines in volatility. For this reason, staying on top of the latest market developments is crucial, a task made simpler through the mobile app version of MT5.

    You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades.

    Watchlist of selected instruments (1), chart window (2), order placing window (3)
    Watchlist of selected instruments (1), chart window (2), order placing window (3)

    MT5 App: My Key Takeaways

    Drawing from my extensive use of the MT5 mobile app, I found that it efficiently serves its core purpose: enabling traders to manage their positions on the go. The design is streamlined, focusing on key functionalities. Considering the inherent limitations of mobile devices, like smaller screen sizes and the lack of a physical keyboard, it’s unrealistic to expect the app to match the comprehensive features of its desktop version.

    STARTRADER VPS

    STARTRADER offers reimbursements of $20 and $30 per month for VPS services. The level of reimbursement depends on trading activity and the amount of money on the deposit. Check the details to learn more about the offering.

    opy Trading Service

    STARTRADER offers a copy trading service, which is available for both signal providers and followers on the MT4 platform.

    Tradable Instruments

    4.7
    How Did We Test the Broker's Tradable Instruments?
    For this section, we examined the broker's market offering, assessing the variety and depth of instruments and asset classes available for trading. Through our proprietary database, we then compared the results with other brokers. This comprehensive analysis allows you to determine if the broker offers the specific instruments and trading options you're looking for.
    tradable_instruments chart

    Based on my in-depth research, STARTRADER boasts a substantial array of tradable instruments spanning multiple asset classes, including forex, stocks, indices, commodities, and a notable abundance of cryptocurrencies.

    Markets Number Types  Industry Average
    Forex Pairs 60 Major, Minor, and Exotic 30 – 75
    Commodities  24 Cash and Futures 5 – 10
    Share CFDs 720+ US, UK, Germany 100 – 500
    Indices  29 Cash and Futures 5 – 10
    Cryptocurrencies 46 Major and Minor 10 – 20
    ETFs 6 Retail, Financial, Other 10 – 20

    Compared to the industry average, STARTRADER offers an average amount of currency pairs and a high amount of commodities, share CFDs, indices, and cryptocurrencies.

    What are CFDs?

    Contracts for difference (CFDs) are derivatives that speculate on the underlying asset’s price without physical ownership.

    For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars.

    One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

    What Can You Trade with STARTRADER?

    Currency Pairs Commodities 
    EURUSD | GBPJPY | USDJPY |   EURCHF | AUDUSD | USDZAR |  Gold | Crude Oil | Brent Oil | Silver | Natural Gas | Copper | Coffee | Wheat
    Share CFDs Indices
    Apple | Amazon.com | Microsoft | Citigroup | Barclays | Siemens Dow Jones 30 | Germany 40 | Australia 200 | China 50 | France 40 | Japan 225
    ETFs Cryptocurrencies
    ARK 21Shares Bitcoin ETF | iShares Bitcoin Trust | Invesco Galaxy Bitcoin ETP Bitcoin, Cardano, Ripple, Dash, Ethereum, Solana, DogeCoin

    STARTRADER Instruments: My Key Takeaways

    After more than a week of exploring STARTRADER’s range of tradable instruments, I’ve found their offerings to be well-balanced overall. The platform particularly stands out in commodities, indices, and cryptocurrencies.

    Customer Support

    3.2
    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    STARTRADER provides 24/5 customer support via email and live chat, exclusively using real human agents for personalized assistance, with notably swift response times. However, the absence of phone support slightly diminishes its score in this category.

    Live Chat Email Phone
    24/5 from the website info@STARTRADER.com  Not available

    STARTRADER Customer Support Test

    In my testing, I engaged with STARTRADER’s customer support via their online chat to inquire about key client concerns such as deposit and withdrawal options, account-based currencies, and minimum deposit requirements. I received prompt and informative responses, confirming the support team’s effectiveness in providing relevant information.

    Available Languages 
    English, Spanish, Portuguese, Chinese, Malay, French, Japanese, Thai, and Arabic

    Deposit and Withdrawal

    4.9
    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    STARTRADER provides a high number of deposit and withdrawal options, including bank transfer, credit cards, e-wallets, and cryptocurrencies. Additionally, the broker offers several local options for both deposits and withdrawals, including Egypt, Brazil, and Malaysia.

    Deposits and withdrawals at StarTrader
    Deposits and withdrawals at STARTRADER

    STARTRADER Deposits

    Deposit Method Base Currencies Fees Processing Time
    Visa/Mastercard USD, EUR No Instant
    Wire Transfer USD, EUR No 3-5 working days
    SticPay USD No Instant
    Perfect Money USD No Instant
    Skrill USD, EUR No Instant
    Neteller USD, EUR No Instant
    Direct Pay EUR No Instant
    SolidPayment USD, EUR No Instant
    Croin plus MYR No Instant
    BetcatPay  BRL No Instant
    Myfatoorah EGP No Instant
    AirTM USD No Instant
    Crypto USDT, BTC No Instant

    STARTRADER clients can fund their accounts via credit cards, a range of e-wallets, bank transfer, and crypto. In addition to USD and EUR, the broker provides several local currencies.

    STARTRADER Withdrawals

    Withdrawal Method Base Currencies Fees Processing Time
    Visa/Mastercard USD, EUR No Within 1 day
    Wire Transfer USD, EUR No 3-5 working days
    SticPay USD No Within 1 day
    Perfect Money USD No Within 1 day
    Skrill USD, EUR No Within 1 day
    Neteller USD, EUR No Within 1 day
    Direct Pay EUR No Within 1 day
    SolidPayment USD, EUR No Within 1 day
    Croin plus MYR No Within 1 day
    BetcatPay  BRL No Within 1 day
    Myfatoorah EGP No Within 1 day
    AirTM USD No Within 1 day
    Crypto USDT, BTC No Within 1 day

    STARTRADER provides a wide range of withdrawal options that are available in multiple currencies. As usual, the wire transfer is the slowest method and can take up to 5 days, while the users of e-wallets and crypto will enjoy prompt money transfers.

    Account Types and Terms

    4.9
    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    STARTRADER provides two types of accounts: spread-based and commission-based accounts. Both account types use USD as their base currency. The broker offers a demo account to test its platform and offering but does not provide an Islamic Account option.

    STARTRADER Account Opening Process

    To open an account with STARTRADER, follow these steps:

    1. Go to the broker’s website and click “Open a live account”.
    2. Fill in your email and input a verification code.
    3. Set up a password for your account.
    4. In the client area, click on the Live Account to open an account.
    5. Fill in the personal details – residence country, nationality, and mobile phone number.
    6. Provide the required documents, including ID.
    Account registration at StarTrader
    Account registration at StarTrader

    STARTRADER Account Types

    Feature Standard Account ECN Account
    Commission (excluding equities) $0 $7
    Spread From 1.3 From 0.0
    Minimum Deposit $50 $50
    Leverage 1:500 1:500
    Base Currencies EUR, USD, JPY, GBP, CAD EUR, USD, JPY, GBP, CAD
    Islamic Account Yes Yes
    Demo Account  Yes Yes

    STARTRADER clients can choose between a spread-based account (Standard Account) and a commission-based account (ECN Account). In the spread-based account, the broker charges spreads and swap/rollover fees but does not charge commissions. In the commissions-based account, the spreads are tighter, but traders also have to pay commissions.

    Demo Account

    STARTRADER offers a demo account that introduces traders to the broker’s services and allows them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself prior to or alongside your live CFD account.

    Islamic Account

    STARTRADER provides Islamic accounts for swap-free trading, as mandated under Shariah law. You can contact their customer support to request additional information.

    What is CFD leverage?

    Leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of leverage. Essentially, the broker lends the trader money so that they can open bigger positions. Leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.

    STARTRADER Restricted Countries

    STARTRADER does not accept as clients residents of Afghanistan, Cuba, Eritrea, Iraq, the Islamic Republic of Iran, Israel, Liberia, Libya, Malaysia, Nicaragua, Pakistan, the Russian Federation, Somalia, the Syrian Arab Republic, Sudan, and the United States.

    Research

    3.1
    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    STARTRADER delivers daily analysis of major trading instruments along with an economic calendar. However, when gauged against industry benchmarks, their research offerings are somewhat lacking in depth and scope.

    Research at StarTrader
    Research at STARTRADER

    STARTRADER provides market research primarily through the News section on its website, featuring weekly market updates and technical analyses on high-profile instruments. These analyses typically spotlight key resistance and support levels, serving as a basic guide for traders. The platform also includes an economic calendar, which is fairly standard for brokers in the industry.

    However, when benchmarked against the industry standard, STARTRADER’s research offerings come up short. While novice traders might find value in the outlined support and resistance levels, more seasoned traders will likely need to look beyond StarTrader for comprehensive research and insights.

    STARTRADER Research: My Key Takeaways

    After tracking STARTRADER’s research articles over an extended period, I found them to be rather basic in their approach. Moreover, the research is confined to daily articles, falling short of meeting the more complex needs of seasoned traders.

    Education

    3.1
    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    STARTRADER’s Knowledge Center is filled with educational videos and articles for traders, complemented by an adequate collection of webinars. However, the latest webinar dates back to June 2023, indicating a possible lack of recent educational updates.

    Knowledge Center at StarTrader
    Knowledge Center at STARTRADER

    STARTRADER’s Knowledge Center on its website offers an array of educational resources, spanning from beginner-friendly articles to more advanced topics like Fibonacci sequences and Pivot Points.

    The broker further complements its educational suite with a substantial library of webinars available in multiple languages, including Arabic, Chinese, English, and Spanish. However, it’s worth noting that the webinar section hasn’t seen any updates since June 2023, indicating a potential hiatus in fresh educational content.

    The Bottom Line

    STARTRADER operates under five distinct entities licensed and regulated in different jurisdictions. All entities extend negative balance protection and ensure client funds are held in segregated accounts for added security.

    When it comes to asset diversity, STARTRADER offers a well-rounded portfolio that spans forex pairs, indices, stocks, commodities, and an impressive array of cryptocurrencies. The broker’s forex and stock selections are geared more toward mainstream instruments, while its offerings in indices and commodities cater well to experienced traders.

    Platform-wise, traders have the option to choose between the popular MetaTrader 4 and MetaTrader 5 platforms, in addition to a mobile app for trading on-the-go. My evaluation shows that the broker’s Standard Account features competitive fees, which adds value to its spread-based model. Further, STARTRADER offers a diverse set of deposit and withdrawal options, encompassing local payment methods and cryptocurrencies.

    Though STARTRADER’s educational resources are robust, its research support leaves something to be desired, particularly for seasoned traders. Overall, STARTRADER has crafted a well-balanced offering that features competitive spreads, a strong lineup of tradable instruments, and a beneficial VPS service.

    FAQ

    STARTRADER is based in Seychelles.
    STARTRADER’s entities provide negative balance protection and hold clients’ funds in segregated accounts. I assessed that the broker can be considered safe.
    STARTRADER charges spreads, commissions, and swap/rollover fees.
    STARTRADER has a low minimum deposit of $50, solid customer support, and a decent educational offering which make it a worth to consider option for beginners.
    Traders can use credit cards, bank transfers, e-wallets, and crypto to deposit money into a STARTRADER account.
    The minimum deposit is $50.
    Traders can use credit cards, bank transfers, e-wallets, and crypto to withdraw money from a STARTRADER account.
    Most withdrawal methods are processed within 1 day.
    The maximum leverage is 1:500.
    To open an account with STARTRADER, visit the broker’s website and click “Open a live account”.
    StarTrader offers MetaTrader 4, MetaTrader 5, and StarTrader app.
    Yes, STARTRADER offers a demo account.
    Yes, STARTRADER is suitable for scalping.
    Yes, STARTRADER is suitable for hedging.
    Yes, STARTRADER is suitable for auto-trading.
    No, STARTRADER is not suitable for spread betting.
    Yes, STARTRADER provides VPS.
    No, STARTRADER does not operate a bank.

    See STARTRADER Full Information

    Headquarters Country
    Seychelles
    Foundation Year
    2013
    Regulations
    FSCM (Mauritius), ASIC (Australia), FSA (Seychelles)
    Publicly Traded
    No
    Number Of Employees
    211
    Trading Desk Type
    No dealing desk, ECN
    Trading Platforms
    MT5, MT4
    Restricted Countries
    Cuba, Eritrea, Malaysia, Liberia, Nicaragua, Iran, Afghanistan, United States, Somalia, Russian Federation, Syria, Israel, Libya, Pakistan, Sudan
    Supported Languages
    English, French, Portuguese, Thai, Arabic, Spanish, Chinese, Japanese, Malaysian
    Min Deposit
    $50
    Max Leverage
    1:500 (FSCM), 1:30 (ASIC), 1:500 (FSA)
    Deposit Options
    PerfectMoney, Wire Transfer, Skrill, Neteller, E-wallets, SticPay, Cryptocurrencies, SolidPay, CroinPlus, BetcatPay, My Fatoorah, Credit Card, Debit Card
    Withdrawal Options
    Wire Transfer, Neteller, Skrill, PerfectMoney, E-wallets, SticPay, Cryptocurrencies, Credit Card, Debit Card, My Fatoorah, BetcatPay, CroinPlus, SolidPay
    Time to Withdrawal
    3
    Time to Open an Account
    1
    Crypto
    Ethereum, Dogecoin, Bitcoin, Litecoin, Bitcoin Cash, Ripple, Zcash, NEO, Cardano, Stellar, EOS, IOTA, Binance Coin, Chainlink, Tezos, Uniswap, Avalanche, PegasusDAO, Metacoin, Santiment Network Token, Filecoin, Nerves, Shiba Inu
    Products
    Currencies, Stocks, ETFs, Crypto, Indices, Commodities
    Demo Account
    Yes
    OCO Orders
    No
    Offers Hedging
    Yes
    Automated Trading
    Yes
    API Trading
    No
    Guaranteed Stop Loss
    No
    Guaranteed Limit Orders
    No
    Guaranteed Fills / Liquidity
    No
    Economic calendar
    Yes
    Trading From Chart
    Yes
    One-Click Trading
    Yes
    Expert Advisor
    Yes
    Social Trading
    Yes
    Autochartist
    No
    Trading Signals
    Yes
    Platform Languages
    Italian, Chinese, Arabic, Hindi, Turkish, Thai, Korean, Vietnamese, Russian, German, Malaysian, Japanese, Polish, Indonesian
    24 Hours Support
    Yes
    Support During Weekends
    No
    Live Chat
    Yes
    Daily Market Commentary
    Yes
    News (Top-Tier Sources)
    Yes
    Webinars
    No
    Deposit Fee
    No
    Withdrawal Fee
    No
    Inactivity Fee
    No

    About the Author

    Vladimir ZernovBroker Analyst

    In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.

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