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ForeXStar

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Operating status: SCAM

Website: https://forexstar.trade/

Broker violations and abnormal records
  • 2024-01-07 BrokersView has Reviewed that ForeXStar is an Unregulated Broker

    ForeXStar claims to be a reliable company without presenting any information about its regulation, this broker locates in Saint Vincent and the Grenadines, we searched the Financial Services Authority (FSA) of Saint Vincent and the Grenadines but found no matching results.

    The truth is that ForeXStar is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law.

    ForeXStar is a scam.

    ForeXStar claims to be a reliable company without presenting any information about its regulation, this broker locates in Saint Vincent and the Grenadines, we searched the Financial Services Authority (FSA) of Saint Vincent and the Grenadines but found no matching results.The truth is that ForeXStar is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law.ForeXStar is a scam.

Related Complaints

Q&A

Will ForeXStar put clients' funds in a segregated bank account?

ABM Kountouretti
Indonesia
2024-01-17
ANSWER ForeXStar, unfortunately, does not seem to have any safeguards in place to protect investors' funds due to its lack of licensing. It's crucial to note that trading with an unlicensed broker often makes it extremely difficult to realize profits, and funds entrusted to such a broker are not protected.ForeXStar purports to be based in St. Vincent and the Grenadines, yet it is not registered with the Financial Services Authority (SVG FSA) in that jurisdiction. Even if it were registered with the SVG FSA, such registration would be irrelevant for online forex trading, as this offshore financial regulator does not supervise or license forex trading brokerage activities.The absence of licensing information is a significant indicator of potential fraud and should serve as a sufficient reason to caution individuals against engaging with ForeXStar. For a safer trading environment, it is advisable to opt for brokers that are subject to rigorous regulation.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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