20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
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ForexStart Review 2024
Minimum
deposit:
deposit:
- $0.1
Trading platform:
- MetaTrader4
- Mobius Trader 7
Bonus for deposit:
- 500%
Minimum
deposit:
deposit:
- $0.1
Trading platform:
- MetaTrader4
- Mobius Trader 7
Bonus for deposit:
- 500%
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Summary of ForexStart Trading Company
ForexStart is a moderate-risk broker with the TU Overall Score of 5.88 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by ForexStart clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews. ForexStart ranks 65 among 413 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
The ForexStart brokerage company caters to novice traders, as evidenced by the absence of deposit limits, which start at $0.1, the availability of bonus programs, and the ability to use expert advisors.
Since 2007, the ForexStart brokerage has served as a representative of Profiforex Corp. in Russia, offering clients a variety of financial market consulting and other services. Previously known as ForexServer, the company underwent a rebranding in 2015, changing its name and updating its logo. The broker provides traders with advantageous conditions for active Forex trading, binary options trading, and investment programs. The company’s services are available to clients of all levels of trading experience, from professionals to beginners. ForexStart provides traders with an educational program and round-the-clock support service.
| 💰 Account currency: | USD, AUD, BCH, BTC, CAD, CHF, CNY, DASH, ETH, EUR, GBP, ILS, IDR, JPY, MYR, THB, VND, LTC, NZD, RUB, UAH, XMR |
|---|---|
| 🚀 Minimum deposit: | 0,1$ |
| ⚖️ Leverage: | From 1:1 to 1:1000 |
| 💱 Spread: | From 0 pips |
| 🔧 Instruments: | Fiat currency pairs, cryptocurrencies, metals, indexes, and CFDs on stocks |
| 💹 Margin Call / Stop Out: | 0% - 100% |
👍 Advantages of trading with ForexStart:
- low minimum deposit of $0.1;
- simple and quick registration system as opening an account takes only two minutes;
- permission to use automated trading software.
👎 Disadvantages of ForexStart:
- difficulties in withdrawing funds;
- access to only 2 trading platforms;
- periodic lags of the trading platform;
- there are limited options for contacting technical support.
- company’s activities are not supervised by regulatory bodies;
- long waits for a response from tech support;
- the trading platform’s frequent bugs and lags make scalping nearly impossible.
Evaluation of the most influential parameters of ForexStart
Geographic Distribution of ForexStart Traders
Popularity in
27.47%
ZA
26.24%
DE
25.26%
US
10.75%
IT
7.38%
SG
6.67%
LK
6.37%
RU
4.02%
UA
3.7%
BD
2.04%
Others
User Satisfaction i
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Expert Review of ForexStart
The ForexStart brokerage company has been providing its services to the territory of the Russian Federation since 2007, and during that time it has earned the trust of clients from all CIS countries. The company is also a member of Traders Union and has proven to be a dependable partner who fulfills commitments.
The company’s top priority is to help new traders develop their professionalism and provide favorable trading conditions for all clients, regardless of their trading experience.
The company only provides two types of accounts: real and demo. The client can independently set up an account based on his needs, including selecting the amount of leverage and, if necessary, enabling the swap-free function (Islamic account).
During its operation, the ForexStart broker has received hundreds of reviews from traders from more than ten countries. The reviews include both positive and negative feedback.
Positive reviews are associated with the broker’s loyalty and the provision of the same conditions to all clients. Traders also note the company’s broad range of services, which include everything from active trading to investment programs and binary options. The advantages of ForexStart include a low minimum deposit of $0.1 and a quick registration procedure.
Negative reviews are related to the operation of trading platforms, which frequently fail and stutter, affecting trading. The downside is also the delay in withdrawing funds, as well as the periodic rejection of withdrawal requests without explanation. The client can contact the round-the-clock support service if any of these problems occur.
Due to the ambiguity of the reviews, we recommend that you monitor ForexStart’s position in Traders Union’s ratings and, when deciding on a broker, check the most recent reviews about its service.
Dynamics of ForexStart’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets and Products of the Broker
ForexStart allows users to earn money through active and passive trading. Investment programs are suitable for both inexperienced traders who do not know how to work on Forex and professionals who do not have time to conduct a thorough market analysis.
TIS (Trade Investor System)
This program allows the client to invest funds and earn income from trading conducted by a successful trader. Users can also become account-managing traders and earn remuneration for their work. TIS includes:
No minimum deposit to start investing.
The ability to choose an account manager from the rating presented on the website.
Receiving passive income for the manager’s trading.
The opportunity to become an account manager and receive a percentage of investors’ profits.
Important!
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Partnership program
Users can also earn money at ForexStart by joining the partnership program. The company offers three partnership options:
Internet partner. Suitable for active network users, bloggers, and personal website owners. The partner needs to publish a referral link to the broker on the web, and then receive a reward for each user who clicks on the link and begins trading on ForexStart.
Regional representative. It is aimed at companies that provide financial and internet services in small Russian towns. The partner’s job is to advise clients on opening a brokerage account. All promotional materials are provided by the broker.
White label. This program is intended for financial companies to expand their presence in the Forex market. The partner is required to promote a client trading platform with a personal logo. In other words, the partner becomes a sub-broker and gets the same opportunities as dealing centers.
Trading Conditions for ForexStart Users
The brokerage firm focuses on offering services to traders of various levels of professionalism, including beginners. The minimum deposit is only $0.1, making it one of the brokers with the lowest deposit requirements.
Clients appreciate the company’s convenient trading conditions: the size of leverage, the level of margin call, and the availability of swaps are all determined independently by the trader based on his needs. Another advantage of the broker is the variety of services offered: traders can access not only active Forex trading but also binary options and investment programs for passive trading.
The company pitched itself as a broker who is ready to work with inexperienced traders and provide them with an educational grounding. The main page of the broker’s website also contains analytical materials and a schedule of upcoming webinars.
If the client has any technical or other questions, he can contact the support service, which is available 24/7.
$0.1
Minimum
deposit
1:100
Leverage
24/7
Support
| 💻 Trading platform: | MetaTrader 4, Mobius Trader 7 |
|---|---|
| 📊 Accounts: | Demo, real |
| 💰 Account currency: | USD, AUD, BCH, BTC, CAD, CHF, CNY, DASH, ETH, EUR, GBP, ILS, IDR, JPY, MYR, THB, VND, LTC, NZD, RUB, UAH, XMR |
| 💵 Replenishment / Withdrawal: | Visa and MasterCard bank cards; WebMoney, QIWI, Yandex.Money, Perfect Money, Skrill, UnionPay, Bitcoin, DASH, Ethereum, Bitcoin Cash, Litecoin, and StableCoins electronic payment systems, as well as cellular communications |
| 🚀 Minimum deposit: | 0,1$ |
| ⚖️ Leverage: | From 1:1 to 1:1000 |
| 💼 PAMM-accounts: | Yes |
| 📈️ Min Order: | From 0.01 lot |
| 💱 Spread: | From 0 pips |
| 🔧 Instruments: | Fiat currency pairs, cryptocurrencies, metals, indexes, and CFDs on stocks |
| 💹 Margin Call / Stop Out: | 0% - 100% |
| 🏛 Liquidity provider: | Deutsche Bank, Bank of America, Citigroup, Goldman Sachs, Barclays, JPMorgan Chase, Credit Suisse, and UBS |
| 📱 Mobile trading: | The web version of Mobius Trader 7 |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Instant Execution, Market Execution |
| ⭐ Trading features: | Permission to use robots to automate trading; Binary options; Protection against a negative balance. |
| 🎁 Contests and bonuses: | Yes |
Comparison of ForexStart with other Brokers
| ForexStart | RoboForex | Eightcap | Exness | FxPro | XM Group | |
| Trading platform |
MetaTrader4, Mobius Trader 7 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, MT5 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading, MT5, cTrader, FxPro Edge | MT4, MT5, MobileTrading, XM App |
| Min deposit | $0.1 | $10 | $100 | $10 | $100 | $5 |
| Leverage |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:30 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0 points | From 0 points | From 0 points | From 1 point | From 0 points | From 0.6 points |
| Level of margin call / stop out |
No / 100% | 60% / 40% | 80% / 50% | No / 60% | 25% / 20% | 100% / 50% |
| Execution of orders | Instant Execution, Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | Yes | Yes | No | No | No | Yes |
Broker comparison table of trading instruments
| ForexStart | RoboForex | Eightcap | Exness | FxPro | XM Group | |
| Forex | Yes | Yes | Yes | Yes | Yes | Yes |
| Metalls | Yes | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes | Yes |
| Indexes | Yes | Yes | Yes | Yes | Yes | Yes |
| Stock | Yes | Yes | Yes | Yes | Yes | Yes |
| ETF | No | Yes | No | No | No | No |
| Options | No | No | No | No | No | No |
ForexStart Commissions & Fees
Information
Traders Union experts checked ForexStart for the presence of trading and non-trading fees. The spread set by the broker is considered a trading fee, and an additional fee for deposits to the user account and withdrawal of funds is considered a non-trading fee.
| Account type | Spread (minimum value) | Withdrawal commission |
| Real | From $1.5 | No |
Also, this broker’s trading fees were analyzed and compared to the indicators of two competing companies — RoboForex and Pocket Option. Based on the results, brokers’ trading fees were divided into three categories: low, medium, and high.
| Broker | Average commission | Level |
| ForexStart | $1.5 | Medium |
| RoboForex | $1 | Low |
| Pocket Option | $8.5 | High |
Detailed review of ForexStart
The ForexStart brokerage firm has been operating in the Russian market since 2007. During its operation, the broker established 37 representative offices in CIS countries, received over 20 awards, and gained over a thousand reviews from clients worldwide.
The company is registered in Mahe, Seychelles, and certified by GURS (Global Unite Responsibility System), a reputable regulator. Client funds are safeguarded by using segregated accounts for deposit storage. ForexStart allows clients to keep up to 70% of their funds in a personal bank account or the account of a trusted third party.
ForexStart by the numbers:
-
13 years of experience in the CIS financial market;
-
37 representative offices globally;
-
Its 2 main offices are in New York and Hong Kong;
-
trader-chosen leverage ranging from 1:1 to 1:500;
-
$0.1 is the minimum deposit;
-
opening an account takes only 2 minutes;
-
21 awards for competent service delivery and progressive development;
-
100+ is the number of trading instruments available to traders.
ForexStart offers a wide range of services to both novice and experienced traders
ForexStart is a broker that aims to provide equal trading conditions to all clients, regardless of experience level.
The company provides traders with two types of accounts, both of which have the same basic trading conditions: real and demo. Thus, all clients, regardless of their experience, are treated equally, which is the broker’s goal. The trader can adjust the account according to his needs. ForexStart does not impose a fixed leverage, margin call level, or absence of swaps. All of these functions are managed by the trader independently. The client can also protect his funds on his own by using the “Segregated account” function.
In ForexStart, there are two types of order executions (Instant and Market), which allow for maximum accuracy and speed in opening and closing trades.
Furthermore, there is a function for copying traders, PAMM accounts, and investment programs that traders can use to earn money without actively participating in market trading.
Advantages:
1
quick account opening, and registration takes only 2 minutes;
2
low minimum deposit is $0.1;
3
no restrictions on the number of lots;
4
the broker permits the use of robots for trade automation.
5
a large number of deposit and withdrawal options;
6
the ability to independently set the required leverage from 1:1 to 1:500;
7
profitable partnership program;
8
a diverse range of services, including active trading, binary options, and investing
9
a comprehensive educational program for beginners;
10
unlimited time to use the demo account;
11
protection against a negative balance.
Guide on how traders can start earning profits
To begin working with ForexStart, a trader must first create a user cabinet on the broker’s website. After registering, a trader can deposit funds into his real account or switch to a demo account. The registration process takes about 2 minutes and requires no additional verification or identification from the client.
Account types:
Account Type
Description
Real account
The minimum deposit for a real account is $0.1, which can be increased at the trader’s discretion. The client can use this type of account to engage in active Forex trading, participate in investment programs, or trade binary options.
Demo account
Intended to serve as a learning environment for new traders. The account is also suitable for experienced traders who want to try out new trading strategies and styles. Trading conditions are the same as on a real account, but profit and loss do not affect the client’s capital. The demo account can be opened for an indefinite period. No deposit is required.
Trading on ForexStart is carried out through two platforms: MT4 and Mobius Trader 7. MT4 is designed for use on a PC, whereas Mobius is optimized for use on any Android, iOS, or Windows device. There is also a web version of the trading platform.
Investment Education Online
Information
In addition to comfortable trading conditions, ForexStart offers a large educational base to clients. A beginner will be able to understand the basic principles of the market with the help of articles, dictionaries, as well as detailed analyses and instructions. A professional can improve his skills by using deep analytics.
Information available in the Education section
Information not available on the ForexStart website
Cryptocurrency trading
Video tutorials
Forex trading
Video reviews on using the trading platform
Trading platform tutorials
Professional systems
Indicators
Graphic elements
Dictionary
The learning process will be more effective if, in addition to studying the theoretical part, the user applies what he has learned by trading on a demo account. This method aids in the consolidation of previously acquired knowledge and the testing of its applicability in practice.
The demo account is ideal for new traders looking to hone their trading skills and gain a better understanding of the market. A demo account will serve as a testing ground for new trading strategies and styles for an experienced trader. As a result, regardless of professionalism, the client obtains the necessary skills while not putting his capital at risk.
Security (Protection for Investors)
Information
ForexStart has a certificate from GURS. The issuance of a certificate for the provision of financial services occurs if the broker meets all of the requirements of the body that issued the certificate. Otherwise, the company does not have the legal right to provide its services.
Client funds are safeguarded by segregated accounts. A trader at ForexStart can keep up to 70% of his deposit in his personal bank account or the account of a trusted person. To do so, the client needs to request the “Segregated account” option, pass verification, and wait for company confirmation.
👍 Advantages
- The company is certified by GURS
- Client funds are reliably safeguarded thanks to new segregated account standards
👎 Disadvantages
- Absence of bodies regulating the company’s activities
- The funds’ protection function must be activated at the client’s request; it is not enabled by default
- All documents are available on the broker’s website for free
Withdrawal Options and Fees
-
ForexStart clients are not charged for the deposit or withdrawal of personal funds. This option is free. The broker does not charge a non-trading fee for the provision of its services.
-
The following deposit and withdrawal methods are available: Visa and MasterCard bank cards, cellular communications, and electronic payment systems such as WebMoney, QIWI, and Yandex. Money, Perfect Money, Skrill, UnionPay, Bitcoin, DASH, Ethereum, Bitcoin Cash, Litecoin, and StableCoins.
-
Withdrawal requests are processed by the Finance Department from 10 a.m. to 5 p.m., Moscow time. Deposits to the user account are instantaneous. Withdrawing funds can take from several hours to several days.
-
To withdraw funds, the client must enter a special password that is provided to him after registration. The password for withdrawing funds can be changed through the user account.
Customer Support Service
Information
ForexStart provides its clients with round-the-clock support. A trader can contact a specialist at any time of day or night with questions or issues, which the support service will address.
👍 Advantages
- 24-hour support service
- Traders are assisted by experts
👎 Disadvantages
- The work of the support service is not sufficiently prompt
- Limited communication methods
Communication with the support service can be done using:
-
the email address specified in the Contacts section;
-
feedback forms on the website.
Contacts
| Foundation date | 2006 |
| Registration address | New York, NY 10038, USA, 160-180 Water St, off 3416 |
| Official site | forexstart.com |
| Contacts |
Email:
support@forexstart.com,
Phone: +1 917 993 96 90 |
Review of the Personal Cabinet of ForexStart
To make your acquaintance with
the ForexStart broker as comfortable as possible, take a closer look at the registration procedure and take a
virtual tour of your user account.
1
The registration and login buttons can be found on the broker’s homepage. If you already have an active account with the broker, go to the upper right corner of the page and click the Personal Area button. If you are visiting a ForexStart broker’s website for the first time, click on the “Open an account” button to the right of the logo.
2
If you are registered with a ForexStart broker, you will see an authorization window after clicking on the Personal Area button. To access your user account, enter your email address and password, and then click the Login button. If you can’t remember your password, click the “Forgot your password?” link and follow the on-screen instructions.
3
After clicking the Open an account button, a new user is taken to a page with personal data fields. Here, enter your full surname, first name, and patronymic, as well as your email address and a password, and then repeat it on a separate line. Before registering on the broker’s website, you can become acquainted with all of the necessary documents, links to which can be found on the right. After opening a real account, the user selects whether he requires a cent or dollar account.
4
After entering the details, the broker provides a unique password that is required to withdraw personal funds. Be sure to save this password.
The trader can enter additional data on this page at will. This step completes the registration process, and the user can access the Mobius Trader 7 trading platform or the user account by clicking the “Personal Area” button.
After clicking the “Personal Area” button, an authorization window appears, in which you must enter your login information — email and password. Then, repeat the steps.
In the user account, the user can select the type of account — real or demo — as well as the currency for the real account.
After creating an account, the user has access to account settings as well as the deposit and withdrawal functions. To the left of the Deposit button is a settings icon, where the client can select the appropriate leverage, the margin call level, and make the account Islamic by enabling the swap-free function.
The user account is divided into several sections: “Accounts”, “Profile”, “Investments”, “Partners”, and “Options”.
From the “Accounts” section, you can open new accounts, configure them, as well as deposit and withdraw funds. A demo account is also opened there. This section also includes a transaction history, a function of transfer between accounts, a transaction archive, and a balance history.
The “Profile” section contains user account settings such as changing personal data, the password to the user account, and the password for withdrawing funds. From this section, you can contact support service with a problem or question, as well as view alerts and event logs.
From the “Investments” section, users can view activity on PAMM accounts, use the “Copy trade” service, and monitor accounts.
The “Partners” section contains all of the materials required to participate in the broker’s referral program.
The “Options” section takes a user to binary options trading by default.
Disclaimer:
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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FAQs
Do reviews by traders influence the ForexStart rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about ForexStart you need to go to the broker's profile.
How to leave a review about ForexStart on the Traders Union website?
To leave a review about ForexStart, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about ForexStart on a non-Traders Union client?
Anyone can leave feedback about ForexStart on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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