StarfishFX Review – Shady Conditions and Platform As Key Issues

This trading firm presents itself as a UK-based company. Such a fact should raise their credibility a little bit. However, when you see the company’s website and zero functional features, you must wonder if they exist at all.

Legally not, for sure. But we strongly recommend you read this StarfishFX review until the end to find out all the irregularities. Believe it or not, there are many similar companies out there. Recognizing warning signs can be crucial to the safety of your funds.

Broker status:	Unregulated broker
Regulated by:	No regulations
Operating Status:	Active FX and CFD Trading scam
Known Websites:	https://Starfishfx.com/
Blacklisted by:	N/A
Owner:	Starfish Markets Limited
Headquarters Country:	UK (allegedly)
Foundation Year:	2023
Online Trading Platforms:	Proprietary web trader, MT4 (allegedly)
Mobile Trading:	Available (allegedly)
Minimum Deposit:	N/A
Deposit Bonus:	N/A
CFD Trading Option:	Yes, you can trade CFDs
Crypto Asset Trading:	N/A
Available Trading Instruments:	N/A
Maximum Leverage:	N/A
Islamic Account:	Not available
Free Demo Account:	Available (allegedly)
Accepts US clients:	US clients are not accepted
Global Fraud Protection Experts’ Verdict:	With an absolutely dysfunctional website and zero transparency, this broker is only to be avoided. If you get scammed somehow by StarfishFX, contact us for chargeback assistance as soon as possible.

Is StarfishFX Legit or a Scam?

The first sign of a scam is fake awards the company presents us with. Even though the awards date back to 2013, this firm was founded only one year ago, in 2023. As mentioned, they present themselves as a UK-based firm, which requires them to have an FCA license. Of course, they don’t. They also do not have other top-tier regulations like BaFin, ASIC, SEC, or similar.

Consequently, funds protection measures don’t exist. Even though the company shows a “funds security” page, it can’t be found. All in all, nothing to be attracted to.

How Does StarfishFX Work?

With the absence of StarfishFX reviews and a completely non-functional website, how they operate is truly amazing. Platforms like these often use social networks and platforms like Telegram to lure new victims. Once they sign up, they’ll be required to deposit money. Fairly, that’s logical if you want to invest.

However, the company will use all kinds of tricks to extort more and more money. Firstly, they might use a fake platform for fake results. Secondly, they might use non-existent costs and hidden fees and taxes. The ultimate goal is to extort the last penny out of all traders. If you are in that situation with this broker, it’s good to know that the play offers refund options. For more details, contact us.

Who Are StarfishFX Victims?

Generally speaking, becoming a victim of an unregulated broker is quite easy. You might get lured through a fancy ad promoting quick money schemes, and viola, you are in. That’s how tracking a company’s traffic can help you determine the primary target areas. In this case, those are:

• United States
• Indonesia

As expected, this company is not authorized by any of the local authorities to provide trading services. So, think twice before registering your StarfishFX account. For more safety tips, we invite you to read our BrightPointif review as well. Also, if any of these companies tricked you, our chargeback team is available for consultation. Send us a message and book your meeting today.

What Are Trading Platforms Available?

Trading platforms that traders can trust the most are MetaTrader and cTrader. These apps are mostly trusted because of maximum transparency, reliability, and a wide range of advanced functionalities. However, the problem starts when fake companies start using them.

In this case, once you complete the StarfishFX login process, you should receive MetaTrader 4. Yet, without transparent download options, it’s questionable whether such a platform is offered. If you get anything else but MT4, you better request a withdrawal immediately.

Is the StarfishFX Mobile Trading App Available?

Same as with desktop apps, mobile app download options with StarfishFX broker are missing. Even though the MT4 app is available in trusted stores, there is no guarantee that you can access your account with this broker there.

To learn how to investigate brokers properly and avoid their traps, read our AssetivaX review.

What Financial Instruments Does The Platform Include?

If you compare thousands of brokers right now, you will realize most offer the same instruments. Also, most of them present their offers transparently. Thus, with StarfishFX trading firm, that’s not the case. Therefore, before signing up with them, we won’t know our trading options.

Account Types Offered by StarfishFX

Another failure of StarfishFX Forex company is the account types presentation. There’s only an indication about live accounts, but no specific conditions or requirements are revealed.

With such an anonymous approach, it’s quite a mystery how anyone trusts this company. That’s why trading with top-tier licensed firms, that require only $10 to get started, makes much more sense.

Can a Trader Use a StarfishFX Demo Account?

Apparently, yes. However, accessing the StarfishFX demo account is also impossible due to the website’s poor functionality. Even if you successfully register your account, demo account availability remains questionable.

StarfishFX Fees, Spreads, Leverage and Commission

One of the most important details for traders is trading conditions, and this brokerage also hides these. If you think about it, there’s not a single relevant detail with this firm that’s fully transparent.

And now, traders have to worry about non-existent fees, commissions, and who knows how high leverage. Thus, if you keep in mind legit brokers offer a maximum of up to 1:50, you might have some clues.

Is the StarfishFX Welcome Bonus Available?

When it comes to welcome bonuses, we can’t guarantee there won’t be any. After all, the company’s T&Cs are not accessible for a reason. Also, it’s a possibility that cheesy bonus policies are hidden there. In any case, you should avoid any bonus deals from unregulated brokerages.

Is StarfishFX Withdrawal Possible?

The biggest mystery is the StarfishFX withdrawal procedure. Some possible withdrawal methods are card transfers and UnionPay. There are no other hints about the fees, processing time, or any special requirements.

Therefore, don’t be surprised if the company requires you to pay some taxes or fees to get your money out. But if that happens, you should apply for a refund immediately.

What Should I Do If I Have a StarfishFX Problem?

Issues with this scam company are practically inevitable. Since they present themselves as a UK-based firm, you can report them to the FCA if you have issues with them. Once they collect enough complaints, they can publish warnings and help other traders avoid them.

Meanwhile, we advise you to take the next step in your hands. Get in touch with our experts and find out how to recover your money. Even if you were sending money via crypto, our experts can present you with the benefits of Fusion Forensics Limited for crypto tracking. Most importantly, the first meeting with our specialists is absolutely free. Take advantage already today. Get in touch now.