January 29, 2024

VStar Reviews Are They Safe vstar.com? Read Findings

VStar Reviews

Looking to read VStar reviews, you are in the right place. Read detailed reviews to know about this forex broker whether to trade here or not.

This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.

About VStar

VStar FX otherwise known as VStar.com is an offshore brokerage operating under the trade name Soho Markets Global Ltd with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients. 

What’s more, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. It also presents a zero spread difference in Buy/Sell.

Is VStar.com Regulation Claim Genuine?

First of, VStar.com presents its based in Mauritius and claim regulated by the local Financial Services Commission under the company name Soho Markets Global Ltd. But, when we checked the regulator’s register nothing came up. This means that this broker did not even manage to obtain a license from an offshore regulator that is hardly strict in its requirements.

Address
Address

Regrettably, the broker has proved to its clients that we are dealing with an impersonator. What we found — VSTAR & SOHO MARKETS LTD is actually a regulated EU company that operated under a few domains, one of them being vstarprime.com. 

Cyprus Database
Cyprus Database

Furthermore, VStar.com does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.

As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.

These are drawbacks for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.

Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website

Does VStar FX Have Account Types?

VStar FX offers different account types such as Standard STP and ECN. According to the account descriptions, the broker offers a leverage capped 1:500 and spreads starting from 1.7 pips on its STP account and from 0.3 pips on its ECN account.

Account type
Account type

VStar minimum deposit is indicated $100 based on the account type. A good start for traders if only the broker was legit and regulated.

On a quick one, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.

The broker accepts deposit via credit/debit card or e-wallets like Skrill, Neteller, and PayPal. As for withdrawal fee, deposit less than $2000, you would be expected to pay a fee of between $2 and $20.

Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!

VStar FX Provides What Trading Software?

VStar FX claims offer an advanced trading software MT5. When we tried to open an account, their website malfunctioned and we were not allowed to proceed.

Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.

Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

VStar FX Licensing and Regulation

Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.

Having said that, it is not far from believing that VStar.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website

Final Thoughts:

VStar FX located at VStar.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.

Was the information helpful? Please share with us your experience in the comment section below. Thank you!

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