Starfinex Review 2024

Starfinex Review 2024

Updated:
Updated: February 08, 2024

Attention!

This brokerage company is on the Blacklist. Working with companies on the Blacklist carries high risks of losing your money. We continuously monitor the Internet in order to identify new scams aimed at defrauding traders, and categorically do not recommend working with companies on the Blacklist.

We advise traders to choose reliable and trustworthy licensed companies from among top brokers of our rating:

Start Trading with IG Markets
Your capital is at risk.
Editorial Note: We are unable to verify the validity of reviews and publish all reviews, both positive and negative, in accordance with the Users Reviews Policy.

Summary of Starfinex Trading Company

Starfinex is a brokerage company that began its operations in 2017. The company had representative offices in Vietnam, Hong Kong, and the UAE. The website listed SVG FSA (Financial Services Authority of St. Vincent and the Grenadines) as the registrar. There was no information regarding any licenses on the site. The broker offered trading in fiat currencies, cryptocurrencies, indices, metals, energy commodities, and raw materials. Clients were offered five types of accounts with varying conditions and minimum deposits. Additionally, Starfinex provided access to PAMM and MAM accounts.
Initially, there were numerous positive reviews about the company. However, starting in 2020, clients' opinions changed as the broker ceased withdrawals. Periodically, the internet saw many positive reviews, which raised doubts among other company clients. Too many traders were unable to withdraw funds, while another group commented on the profitability of working with Starfinex. Currently, the company's website is inaccessible, and the last post on its Facebook page was made in July 2022.

User Satisfaction i

10 comments
Total score:
2 /10

Share your experience

  • Best
  • Last
  • Oldest
Avatar
Avatar
Babez
11 weeks ago

Starfinex took my money, including everything I earned from them. And it's a substantial amount — over $6,500. It's a shame not just for the money but also for the time spent. I traded currencies for almost a year, growing my capital and intending to allocate a portion for passive investments to increase income through different methods. During that time, I withdrew $100 once just to ensure there would be no issues. The money arrived quickly, so I had no doubts it would always be the same. However, when I tried to withdraw some profits, they blocked my request. Initially, they blamed technical glitches, then stopped communicating altogether. In the end, I lost everything because the site closed soon after.

Avatar
Avatar
kayabahagia
16 weeks ago

I was looking for a way to earn passively and chose іtarfinex due to their PAMM and MAM accounts. I decided to invest some money there and use the rest for trading via a social trading platform, learning from professionals' actions. Everything was going as planned. I was earning steadily and learning. I urgently needed money and decided to withdraw a portion, but I didn't see a cent. The company took my money and eventually shut down. No matter how many times I tried to contact support, I never received a response.

Avatar
Avatar
Jeevacroos
20 weeks ago

Starfinex company stole more than $2,000 from me, so I have every right to call them scammers and thieves. I wasn't familiar with trading, so I was practicing on a demo account. A manager called me and offered help, saying he would guide me and provide full support, but I needed to open a user account. I did exactly that — I opened a Standard account and deposited $100. However, the manager said it was not enough and that if he would oversee my trades, I needed to trade with larger amounts. Eventually, I deposited $2,000, which I later lost. My trading didn't go well, I quickly lost almost half the amount. When I decided to withdraw the remaining sum, they blocked my account without any explanation.

Avatar
Avatar
andysuccess
24 weeks ago

I worked with the company for over a year — trading currencies on a Standard account. Overall, I couldn't say anything bad about the entire period of collaboration. I not only traded myself but also invested some funds in a PAMM account. I managed to make a decent income in total. Withdrawing money was trouble-free, except for minor delays. But then, withdrawing became impossible. They kept canceling the requests and returning the funds to the account. The support was inconsistent in their responses and kept redirecting me to a financial specialist who repeated scripted phrases, saying the problem was being resolved, etc. I couldn't withdraw my money in the end.

Avatar
Avatar
shihan
28 weeks ago

The Starfinex company caught my attention with the opportunity to earn by investing in PAMM and MAM accounts. I chose a manager, connected to their account, and deposited $1,500. For the first couple of months, the profitability was around 25-30%, which was satisfactory. However, continuous drawdowns and losses started afterward. I changed managers but encountered the same issues. So, I decided to withdraw my funds and avoid risking more. I submitted a request and waited for a week, but the money didn't arrive, even though the request was acknowledged. I ended up not receiving anything. I contacted support, but they simply ignored me.

Avatar
Avatar
mmdpmapa
33 weeks ago

Starfinex had very good conditions for beginners, so I decided to learn Forex with this broker. I started with a Micro account, where only $5 was needed to begin. The leverage could be adjusted up to 1:500 when opening an account. The spreads were a bit high — starting from 3 pips, but I didn't expect to earn much with such a small amount. For about three months, I diligently studied trading, and when I gained some experience, I switched to the ECN Pro account and deposited $700 for trading. Unfortunately, within a month, the site stopped working. I contacted support multiple times, but no one responded. I had to bid farewell to my money.

Avatar
Avatar
Imesh-Umayanga
37 weeks ago

You should never engage with companies that operate without a license, otherwise, you'll lose your money, just like me. A manager from Starfinex called me and spoke about the prospects of collaboration, favorable conditions, and that the company planned to become the best in its segment, etc. Indeed, the conditions were not bad, especially considering that no exorbitant sums were required as a minimum deposit. I decided to try trading on the ECN PRO account. Everything was fine until I wanted to withdraw some profits. The request was canceled, and support was unresponsive. I sent numerous messages to their technical support, but I never received any meaningful response, and they didn't process the withdrawal. I lost $500, not counting the earned funds.

Contacts

Registration address 9th floor, Kham Thien Building,195 Kham Thien, Dong Da, HaNoi, Viet Nam
Unit 1411, 14/Floor, Cosco Tower, 183 Queen's Road Central, Sheung Wan, Hong Kong

We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

Articles that may help you

Best Trading Apps for 2024
For Beginners
Best Trading Apps for 2024
Alamin Morshed - May 2024
What is a Forex Spread: How it Works
For Beginners
What is a Forex Spread: How it Works
Ivan Andriyenko - May 2024
Best Trading Platforms for Online Trading
For Beginners
Best Trading Platforms for Online Trading
Mikhail Vnuchkov - May 2024
How to Identify Bearish (and Bullish) Pennant Pattern
For Beginners
How to Identify Bearish (and Bullish) Pennant Pattern
Chinmay Soni - May 2024
Investing (Investing.com) review 2024 - Top Pros and Cons
For Beginners
Investing (Investing.com) review 2024 - Top Pros and Cons
Chinmay Soni - May 2024
Momentum Indicator | Full Review
For Beginners
Momentum Indicator | Full Review
Andrey Mastykin - May 2024
Best Day Trading Online Courses in 2024
For Beginners
Best Day Trading Online Courses in 2024
Mikhail Vnuchkov - May 2024
What are derivatives and how to make money on them?
For Beginners
What are derivatives and how to make money on them?
Andrey Mastykin - May 2024
Top 10 Best Apps for Trading on iPhone
For Beginners
Top 10 Best Apps for Trading on iPhone
Mikhail Vnuchkov - May 2024

FAQs

Why has Starfinex been placed on the Forex Broker Blacklist?

Possible reasons:
• multiple complaints have been filed against Starfinex by traders claiming the broker failed to fulfil its obligations, including process withdrawals;
• the website of Starfinex is down, not updated or operates with clear errors and some features are not available;
• Starfinex has been blacklisted by the regulatory authority, and a warning has been published on the regulator’s website.

What should I do if Starfinex got blacklisted and I still have money in my account?

Don’t panic right away. First, try to find out the reason why Starfinex got blacklisted. The situation may be temporary. Contact Traders Union client service for details. If the situation is critical, try to withdraw money. The best way to do it in parts, so that the broker does not suspect that you want to withdraw your entire balance and close the account.

What should I do if I cannot withdraw my money from Starfinex?

If your broker refuses to process withdrawals under various pretexts, your algorithm of actions is as follows:
• Get a clear response from the broker’s Support Service with reference to the clauses of the Terms of Use (User Agreement). Save your correspondence and download the transaction history from your account.
• With a full package of documents, appeal to the following organizations: the broker’s regulator or corresponding law enforcement agencies. If you make your deposit with a bank transfer, try to initiate a chargeback request.
• Share your situation on traders’ forums, add the broker to blacklists of various websites, as it will help others avoid the mistake.

Is there any chance to recover my money if Starfinex is a scam?

On rare occasions, yes, for example, if the broker was a member of a compensation fund, or upon a court’s ruling.

Traders Union Recommends: Choose the Best!

Logo IG Markets
Logo eToro
Open an account
Your capital is at risk. 
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest.
Logo OANDA
Open an account
Your capital is at risk.