Summary

Startrader is a relatively new broker whose oldest subsidiary, Startrader Pro Limited, was founded in 2013. The broker offers CFD trading on 170+ financial assets listed on its platforms, and these assets include 50+ currency pairs, 20+ commodities, 25+ indices, 5+ bonds, 45+ cryptocurrencies, and 65+ stock CFDs. However, the broker does not provide real stocks, ETFs, options, or futures. Clients who wish to trade non-CFD instruments will not be able to do so with this broker.

They are regulated by the UK Financial Conduct Authority (FCA) and the Seychelles Financial Services Authority (FSA). In addition, this brokerage company is incorporated in Saint Vincent and the Grenadines.

This Startrader review focuses on all the essential aspects of the broker’s services. It cover’s their available assets, regulations, fees and commissions, payment methods, trading platforms, account types, and customer service. It also explores various online platforms such as Reddit, Quora, TrustPilot, and ForexPeaceArmy to provide you with a detailed summary of user opinions of this broker across these websites.

Available Assets

Startrader has 170+ trading instruments listed on their platforms. These include 50+ forex pairs, 20+ commodities, 25+ indices, 45+ Cryptos, 5+ Bonds, and 65+ share CFDs. Currently, the broker does not offer ETFs or funds. In this section of the review, we provide more details regarding each of these assets, including their spreads and leverage.

Stocks

There are over 65 share CFDs available on Startrader from reputable international companies. Clients can have access to margin trading with leverage up to 1:20 on all of these assets. Examples of stocks provided on this broker’s website include GOOG, CITI, DISNEY, and AAPL.

Indices

Clients of this broker will have access to trade 25+ indices on the MT4 or MT5 trading platforms. These indices are available with a starting spread from 0.4 pips at leverage up to 1:500 for non-UK clients. However, clients registered under Startrader’s UK subsidiary, due to FCA restrictions, can only use leverage up to 1:20. Users can trade NAS100, US30, GER40, JPN225, and many other popular market choices.

Forex

There are 50+ currency pairs available to users of this broker, consisting of major, minor, and exotic pairs. Spreads on these currency pairs start from 0.1 pips, depending on a customer’s account type. Furthermore, like indices, non-UK clients will have access to leverage up to 1:500 while UK-based traders will enjoy leverage up to 1:30. Some of the forex pairs listed on Startader are EUR/USD, AUD/USD, CAD/JPY, and USD/TWD.

Commodities

Startrader provides 20+ agricultural and energy products as commodities through spot and futures CFDs. Examples include Wheat-C, Sugar-C, Gas-C, and Cocoa-C. They also list a wide range of Metal CFDs such as  XAGUSD, XAGEUR, XAUUSD, XAUAUD, GAUUSD, and XAUUSD.m. Commodities available on this broker are offered with a starting spread from 0.7 pips at leverage up to 1:500 for non-UK customers and 1:20 for UK clients.

Cryptocurrencies

The broker also offers 45+ crypto CFDs, including stablecoins such as Bitcoin, Ethereum, Cardano, and meme coins like Dogecoin. Traders can place orders on any of these available assets via the broker’s various platforms. The specific leverage varies depending on the coin and the trader’s country of residence. However, the highest leverage available to non-UK clients is up to 1:200 while UK residents can only use leverage 1:5 due to FCA limitations.

Bonds

There are 7 bonds listed on the Startrader and they include popular instruments such as Euro-Bund Futures, Euro-BOBL Futures, UK Long Gilt Futures, and EURIBOR Futures. The highest leverage available on this asset for non-UK traders is up to 1:100 and 1:5 for UK traders.

Stock Trading at Startrader

Startrader does not have a very large stock offering compared to many other brokers. They list 65+ stock CFDs as available for trading on their platform. They do not provide any real shares to customers. Here in our review, we cover the essentials of stock trading with this broker. We discuss its fees and commissions as well as the possibility of trading with leverage.

Available Stock Exchanges at Startrader

There are several share CFDs on the broker from well-known companies across different sectors such as engineering, entertainment, and technology. Below, we list the available exchanges on Startrader.

Stock Trading Fees & Commission at Startrader

Traders who engage in stock trading may be charged a mark-up or mark-down (the difference between the price at which this broker takes a principal position and the Transaction execution price with the client) or a commission. However, in some circumstances, Startrader may combine both options.

Stock Trading Leverage at Startrader

Startrader offers margin trading on its MT4 platform. This means that customers can take on much larger positions in the market than their current account balance. The leverage for trading Stock CFDs on this broker is up to 1:20.

Regulations

Startrader is regulated and authorized by the financial and investment regulatory body in Saint Vincent and the Grenadines as well as the UK’s Financial Conduct Authority (FCA), and the Seychelles Financial Services Authority. Here in our review, we provide you with details about this broker’s company registration and its address information.

Startrader LLC: This subsidiary is located at Hinds Building, Kingstown, Saint Vincent and the Grenadines.

• Company number: 228 LLC 2019

Startrader Limited: This entity is also a subsidiary of Startrader and their contact location is at Block B, Room 2, No.2, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. They are regulated by the FSA.

• FSA Registration Number: FSA – SD049

Startrader Pro Limited: Startrader Pro Limited is the UK subsidiary of this broker. They are regulated by the FCA and located at 61 Lawnside, London, SE3 9HL, United Kingdom.

• FCA Reference Number: 600837
• Company Registration Number: 08443644

Startrader International PTY Limited: This is another entity of the broker. It is located at Room 710,7/F, Lippo Sun Plaza, 28 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong.

• Company Registration Number: 2426862

Fees and Commissions

Depending on their account type, Startrader users are expected to pay specific trading and non-trading fees. In this section of our review, we outline all the costs incurred by users of this broker.

Trading Fees

Trading fees with this broker include spreads and overnight fees. We provide further details for each of these charges below.

Spread

Startrader spreads vary based on whether a customer opens a Standard or ECN account. Standard account spreads are typically higher than ECN accounts. While owners of the former account type can enjoy spreads as low as 1.3 pips, the latter will have access to spreads from 0.1 pips.

Overnight Fees

The broker charges a fee for positions held beyond 24 hours on its platform. However, their website does not specify the exact amount.

Non-Trading Fees

Startrader does not charge a deposit or withdrawal fee. Also, this broker does not list an inactivity fee. However, customers will be expected to pay for currency conversion.

Currency Conversion Fee

Customers who engage in transactions that will require a denomination that is different from this broker’s available account base currency will be charged a small fee.

Account Types

Startrader account options include Demo, Standard, and ECN. Each of these account types offers unique features, depending on a trader’s preference. Unfortunately, they do not provide an Islamic or Swap-free account. In this part of our Startrader review, we discuss all the available account types and highlight their notable characteristics.

Demo Account

A demo account with this broker enables customers to trade freely without the risk of losing any money. Traders who opt for this account type will not be able to withdraw their earnings as they will be placing orders for financial assets with a virtual balance between $3,000 and $1,000,000, depending on their preference. Demo accounts enable Startrader clients to get familiar with the broker’s trading apps and develop or modify their strategies. This account type is valid for 30 days.

Standard Account

Unlike demo accounts, standard accounts allow users to add real money to their balance. It offers low spreads and zero transaction fees. Users will have spreads starting from 1.3 pips on some financial instruments. They will also experience fast execution speeds and enjoy negative balance protection. Furthermore, this account type gives customers access to this broker’s full range of products and all their available benefits. However, there is no dealing desk.

ECN Account

This account type offers similar features and benefits to the standard account, such as fast order execution, negative balance protection, and access to all 170+ assets provided by the broker. However, a primary difference between both is that ECN accounts provide users with access to institutional prices, albeit with added transaction fees. Clients who open this account with Startrade will be given spreads as low as 0.1 pips on some assets.

Trading Platforms

Startrader does not offer exclusive trading apps for desktop or mobile. Clients of this broker will have to download MetaTrader 4 or 5 or use the Webtrader version to begin their trading after opening a demo or live account. However, it is important to note that the copy trading feature is currently available on MT4. They are not compatible with cTrader. Therefore, traders who prefer to avoid working with the popular MetaTrader platform may struggle with this broker. Here in our Startrader review, we provide an overview of their account opening process on desktop and mobile. We also outline the features of their client area.

Desktop Trading Platforms

On desktop, clients of this broker can choose between downloading MT4 or MT5 and using the Webtrader directly from the Startrader dashboard. Below, we examine some of the features of the Webtrader as well as outline the procedure for opening an account via this medium.

User Interface

The user interface of the Webtrader is relatively intuitive. However, customers may experience slight lags compared to the desktop application. Beginners and more experienced traders should find it easy to adopt this platform as it is one of the most common trading applications available.

Design

Webtrader for desktop has a simple and straightforward design with 3 chart types, 9 time frames, and the ability for users to customize their chart layouts. Clients can read their charts and identify relevant tools relatively easily.

Indicators

There are about 30 indicators available for traders to conduct their technical analysis and make their trading decisions. Some options include Bollinger Bands, Envelopes, Moving Averages, and MACD.

One Click Trading

This feature allows traders to open and close trades faster by eliminating the need for confirmation after placing an order. It is very useful for more experienced traders who wish to minimize their execution times.

History

In the History tab, clients of this broker can monitor their previous trades and take proper records to finetune their trading strategies or forecast future orders.

How to Open an Account on Startrader Desktop Trading Platform

1. Visit the broker’s website and select Open Live Account.
2. Provide your email, password, and phone number, and enter the verification code sent to the email you provided.
3. From the Startrader dashboard, select Open Account Now.
4. Enter your basic information.
5. Select your trading platform and choose between a Standard and an ECN account.
6. Specify your trading experience and source of income.
7. Verify your identity by providing all the requested documents.
8. Wait for verification and fund your account from the Startrader dashboard.

Mobile Apps

Traders who opt to trade with Startrader on their mobile devices can only do so by downloading the MT4 or MT5 app for iOS or Android. They can also make use of the Webtrader version on their native browsers. Below, we outline some of the features of the MT5 mobile app and outline the step-by-step account opening process for this broker.

User Interface

The user interface for the MT5 app is excellent. The lag time is negligible and the features are simplified so that traders, regardless of their experience level, can start placing orders quickly.

Design

This app’s design is also fantastic. Navigation is easy and customers will be able to access all the essential information they need in a single window. There are five tabs – Quotes, Charts, Trade, History, and Settings.

Indicators

Users can find this feature on the top of the mobile application. They can customize their charts by adding Trends, Oscillators, Volumes, or Bill Williams.

Search

The search function allows clients to easily navigate and find their preferred financial asset out of the 170+ options provided by Startrader.

How to Open an Account and Trade on Startrader MT5 Mobile App

1. Go to your device’s app store and download the MT5 mobile app.
2. Next, go to www.startrader.com and click on “Open Live Account.”
3. Register with your email, password, and phone number, and enter the verification code that the broker will send to your email address.
4. Next, you will be directed to a web portal. Click on Account in the dropdown menu to start creating a live account.
5. Fill out your basic information, including residence, nationality, place of birth, and phone number.
6. Choose your preferred trading platform, account type, and account base currency.
7. Determine your suitability for registration by stating your source of income and trading experience.
8. Verify your account by providing a valid ID and proof of address and agreeing to the broker’s terms and conditions.
9. After verification, you will receive an email with your login details for your account.
10. Deposit by clicking the dropdown menu of the client area to fund your account and start trading.
11. Next, open the MT5 app, click on Settings, and select New Account.
12. In the search bar at the top of your screen, type Startrader and select the broker’s live account option.
13. Enter your login-id and password and click on Sign in.

Payment Methods

There are several options for deposits and withdrawals at Startrader. This section of our review explores these methods in detail. We also provide you with important information about funding and withdrawals, such as minimum deposit amounts, transaction processing times, and any fees incurred when adding or retrieving money from a live account with this broker.

Deposit

For deposits, this broker allows customers to make use of one of these options – wire transfers, credit cards, debit cards, or e-wallets. Traders who wish to use e-wallets will be able to fund their accounts via several methods including, Neteller, Skrill, Perfect Money and STICPAY. Bank wire transfers typically take the longest time to reflect in a customer’s trading account. Customers using this method will have to wait for 3 – 5 business days before they can begin trading. It is also important to mention that Startrader does not permit third-party deposits. Individuals can only add cash to their Standard or ECN accounts from a funding source bearing their name. The minimum deposit amount on this broker is $50.

Finally, there are no deposit fees. However, users may be charged for third-party services such as bank processing.

Withdrawals

Similar to deposits, customers will be able to withdraw their funds via bank wire transfer. They can also do so with any of the available e-wallets listed by this broker. Typically, withdrawals using bank wire transfers take about 3 – 5 working days. However, in the event of unforeseen circumstances, this duration could be longer. There are no withdrawal fees, and no minimum deposit amount was mentioned.

Account Base Currency

This broker only permits users to open Standard or ECN accounts denominated in USD.

Research and Education

Our Startrader review shows that they do not have a robust range of research and educational materials. This broker’s learning resources are primarily designed for beginners. They do not provide many options for more experienced traders to develop their skills. The education page of their website consists of short articles differentiated into Basic and Intermediate categories. The Basic category covers elementary concepts relating to the forex markets, CFD trading, and trading terminologies. The Intermediate section, however, deals more with technical analysis.

In addition to short articles, they have instructional videos on the basics of forex, order types, understanding charts, and trading sessions. They also organize a regular Beginners Masterclass Webinar which is done with English or Chinese as the language of instruction. These webinars address essential topics such as understanding NFP data, and MT4 analysis.

Finally, Startrader has other useful research tools, including a News Room and an Economic Calendar. The News Room offers routine market updates and technical analysis to enable users of this broker to make better-informed trading choices. Furthermore, the Economic Calendar gives insights into upcoming events that may affect the nature of price action.

Customer Services

This broker’s customer service is available 24 hours from Monday to Friday. Clients can access support and receive solutions to any complaints by sending an email directly or with the query box on their website. There is also a live chat option available. Individuals who wish to send a direct email can forward their complaints to info@startrader.com. Upon sending this mail, clients should receive an initial response within 48 hours and expect resolution in the shortest time as reasonably practicable. In addition to this option, traders can also receive support by contacting this broker via their social media handles. Users can also reach them on Facebook, Linkedin, Twitter, Instagram, and Telegram.

Unfortunately, they do not list a customer service number. Therefore users may not be able to speak directly with support staff when they have any challenges with the broker’s trading platforms. Also, unlike most brokers, Startrader does not provide a help center or FAQ section for clients.

Online Reviews

In this section of our article, we visit popular discussion platforms such as Reddit and Quora to find out what users of Startrader have to say about its services. We also provide you with insights into this broker’s rating on TrustPilot and ForexPeaceArmy, two of the most popular rating platforms for brokerage companies.

What Reddit Users Say About Startrader

Unfortunately, despite several queries using the term ‘Startrader,’ we were unable to find any discussions or comments related to this broker on Reddit.

What Quora Users Say About Startrader

It may appear that this broker is relatively unpopular, as just like with Reddit, there are also no mentions of their services or relevant inquiries about them on Quora.

TrustPilot Users’ Review About Startrader

We were unable to obtain user reviews of this broker on TrustPilot because access to client comments is currently restricted by the website. TrustPilot has described the page for Startrader as a bad fit, citing that it breaches their ethical standards.

ForexPeaceArmy Users’ Review About Startrader

Startrader is presently unrated on ForexPeaceArmy since it has been reviewed by just one person. However, this review was largely negative, claiming that the broker is not trustworthy and they had difficulty retrieving their funds after making a deposit.

Other Products and Services

Apart from providing clients with the opportunity to invest in various financial assets, Startrader also provides other products and services. Below, we discuss these offerings in greater detail.

Copy Trading

Startrader is one of the few brokers that offer a copy trading feature. With Copy trading, clients can watch and replicate the trades of more experienced traders in real time. Customers can also sign up as providers and earn extra when others copy their successful trades.

Introducing Brokers

The Startrader Introducing Brokers program allows individuals to partner with the company and earn by converting clients. For each transaction conducted by a converted client, the Introducing Broker will get a reward. This program works with a multi-tiered layered structure and has an exclusive IB portal for users to monitor their performance.

Affiliate Program

The affiliate program onboards people who wish to make extra cash by promoting the Startrader brand on their websites, blogs, and social media pages. Affiliates earn a commission on every successful referral.

Money Managers

This broker offers bespoke solutions to clients who require assistance in managing their forex accounts. There are two available money management accounts – PAMM and MAM. Startrader helps owners of these accounts handle any back-office technicalities and provides real-time reports.

Is Startrader Safe?

Startrader employs some safety measures to guarantee customers that their funds are secure. It is regulated by the Financial Conduct Authority and the Financial Services Authority. They also operate segregated accounts, meaning that funds deposited by clients are kept separate from company funds and not used for other purposes apart from trading. They also offer Negative Account Balance Protection. Finally, their website is secured with 256-bit SSL encryption to ensure that their user’s personal and financial data is protected from cyberattacks.

Bottom Line

Our Startrader review shows many of its pros and cons as well as critical information that potential customers should be aware of. Startrader is relatively new. However, they are regulated in the United Kingdom and Seychelles by the FCA and FSA, respectively. They are also incorporated in Saint Vincent and the Grenadines. They are one of the few brokers that offer copy trading and they also provide relatively low spreads, depending on a client’s account type.

Unfortunately, they do not provide a large number of financial assets as their overall financial instrument offering slightly exceeds 170. They also do not offer non-CFD assets such as ETFs, real shares, options, and futures. Another drawback with this broker is that users’ comments across discussion forums are largely negative or non-existent. Furthermore, they do not have their own trading platform, and users will have to trade on MetaTrader 4 or 5 for desktop and mobile.

Startrader allows stock trading, albeit only stock CFDs. There are 65+ shares listed on their platforms from various multinational companies across several industries. Customers with a live Standard or ECN account will have access to the full range of shares and other instruments provided on their platforms. Demo accounts are also available. However, this account type expires after 30 days. There are multiple deposit and withdrawal methods, including bank transfers, credit cards and debit cards (Visa/Mastercard), and e-wallets. Finally, customers can only open accounts that are denominated in USD.