Updated on April 4, 2024
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In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding OptionStars Global due to the issues we've identified.
Is OptionStars Global Scam or Legit Broker? ▲
It is imperative to state unequivocally that engaging in trading activities with OptionStars Global is not advisable. The entity lacks any form of registration, thereby operating without a credible license. Contrary to its claims of being based in London, our investigations have unearthed that its registration traces back to Samoa, a jurisdiction known for its lax regulatory environment.
About OptionStars Global
Registered in: No Registration
Type of License: No License
Is OptionStars Global safe to trade: No
Recommended Licenses: FCA in UK & ASIC in Australia
The absence of a robust regulatory framework renders any dealings with OptionStars Global as inherently risky. It is noteworthy that the company attempts to project an image of legitimacy by falsely claiming a London address. In reality, the owning entity, New Markets S.A., is domiciled in Samoa, highlighting a deliberate attempt to mislead potential clients regarding its operational jurisdiction.
OptionStars Global operates under the guise of a legitimate trading platform, with assertions of being headquartered in the United Kingdom. Nonetheless, our thorough investigation has disclosed that New Markets S.A., the parent company, is indeed registered in Samoa. This revelation not only places the firm squarely within an offshore zone notorious for minimal financial regulation but also casts a shadow over its authenticity due to the dissemination of misleading information.
Moreover, the trading options offered by OptionStars Global are embroiled in controversy. Several reputable jurisdictions and regulatory bodies have outright banned such trading practices citing the elevated risks involved. This stance is further solidified by the accumulation of complaints and negative feedback from traders, painting a grim picture of the broker's reliability.
Adding to the broker's woes are the official warnings issued by regulatory authorities, including a notable admonition from the Austrian Financial Market Authority (FMA) in April 2018. The FMA's statement explicitly barred OptionStars Global from conducting banking and investment services in Austria, lacking the necessary licensure for such operations. This action by the FMA, followed by similar moves from other EU regulators, underscores the significant concerns surrounding the broker's activities.
Given the multitude of red flags, including the absence of a credible license, misleading location claims, and a barrage of negative trader feedback, it is our strong recommendation to steer clear of OptionStars Global. Engaging with brokers regulated by reputable financial authorities, such as the FCA in the UK and ASIC in Australia, ensures adherence to stringent financial and ethical guidelines, providing a safeguard for traders' investments.
OptionStars Global Update
Our latest findings indicate that the OptionStars Global website is no longer operational, signifying a cessation of its trading services. Despite this development, we urge potential traders to exercise caution and vigilance, avoiding any engagement with or proposals from this entity. The landscape of forex trading is dotted with credible and well-regulated brokers, and it is in the best interest of traders to align their investments with such entities for a secure and transparent trading experience.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
OptionStars Global Review 2024
