Forex Start Broker Reviews and Full Information

In response to a request from one of my blog's followers, I will post a ForexStart review today. I received a large number of queries regarding ForexStart. Because the information on the official website is insufficient and a bit dubious, we recommend that you avoid using it. Because of this, investors are asking if ForexStart is a scam or a trustworthy broker.

The main website of ForexStart is accessible in seven different languages. The majority of them are languages spoken in Asian nations such as China and Indonesia. As a result, this broker is mostly focused on Asian investors.

Another thing I should point out about the official website is that it is quite amateurish and has a jumbled look to it. It has the appearance of having been created in the 1990s. As a result, obtaining information from the official website of the company for investors is quite difficult.

The most intriguing question is about to be discussed: is ForexStart a scam or a legitimate company?

What are the factors that we should consider in order to form an opinion on this matter? What are the trading conditions and account kinds that ForexStart has to offer its customers?

All of the answers to these queries may be found in our ForexStart review. If you have any more queries, please feel free to contact me via the comments box at the bottom of this page. I make every effort to respond as quickly as possible.

Let's get started with the review if you're ready.

Regulation Problem of ForexStart

Recently, I wrote that it is very difficult for newly formed brokers to get a license from an established regulatory body. I stand by that statement. Because it is difficult to create the circumstances that are necessary by these authorities to operate. Regulators such as the FCA, ASIC, CySEC, and others... However, for licensing purposes, regulators with a less renowned reputation may be favored. However, functioning as an unregistered broker is not permissible in this situation.

As stated on the "About Us" part of ForexStart's official website, the broker was established in 2007 and has received a slew of accolades since then. Therefore, we are unable to assess its performance as a freshly founded broker. All of the license issues must be resolved for the time being.

Tim Group Limited is the company that owns and operates ForexStart. This corporation is based in the Caribbean country of Saint Vincent and the Grenadines.

This island nation is a permissive zone for offshore corporations, and it is often chosen as a location for forex firms. The reason for this is because there is no regulatory body in this nation that oversees forex firms, and there are no regulations for brokers. As a result, I can claim categorically that ForexStart is an unregulated and unregistered broker.

According to the broker's official website, he is reportedly covered by the Global Unite Responsibility System (also known as GURS). However, that was the first time I heard GURS. It is not a regulator and does not have the ability to regulate it in any way whatsoever. Almost certainly, the bogus regulator was set up by the proprietors of ForexStart to deceive investors. In the first place, according to information on the GURS website, just eight trading centers are protected, and their logos are remarkably similar to one another.

Trading with unlicensed brokers carries a high level of risk. As a result of their ability to grab your funds for a number of reasons, which is a typical occurrence among unregulated brokers. As a result, I would advise you to rethink your decision before creating an account with ForexStart.

In the forex market, regulators such as the Financial Conduct Authority (FCA), CySEC, ASIC, or VFSC are well-known and have a good reputation. When selecting brokers, it would be beneficial to keep this in mind.

Account Types and Trading Conditions

ForexStart offers 3 different account types: Fixed, Standard and ECN. You can understand the features of each account by name. You can check out the other features of the account types at the table below.

The minimum deposit amount for a fixed account type is $ 1. In addition, fixed spreads are offered at this account type. Thus, you do not encounter some chronic problems during trading like spread widening. I can say that the average spread is normal for fixed spread accounts around 2 pips.The maximum leverage is 1: 500.

Payment Methods Offered by ForexStart

ForexStart accepts a large number of different deposit and withdrawal options. I believe that of the brokers that I have investigated so far, the one that provides the most choice of payment ways is eToro. As a payment method, you have the option of using wire transfer or credit / debit cards. Additionally, you will be able to access the majority of the leading e-wallet systems. Skrill, Perfect Money, Yandex, WebMoney, Moneta, and Boleto are all accepted as payment methods. The broker also accepts cryptocurrency payments in the form of bitcoin, bitcoin cash, dash, and litecoin.