Star Profit Trading portrays itself as an acclaimed and regulated forex broker, yet it operates as an internet scam preying on individuals unfamiliar with financial trading. This assessment aims to elaborate on why Star Profit Trading lacks legitimacy as a financial services provider and suggests alternative brokers with greater credibility.
Star Profit Trading Regulation
| Guaranteed Funds | Segregated Accounts | Negative balance protection | |
| Star Profit Trading | ❌ | ❌ | ❌ |
| UK regulated brokers | £85 000 | Yes | Yes |
| EU regulated brokers | €20 000 | Yes | Yes |
| AU regulated brokers | No | Yes | Yes |
| US regulted brokers | Yes | Yes | No |
Legitimate forex brokers are transparent about their legal entity, location, licenses, and regulatory oversight. Conversely, a lack of such information or its improper presentation typically signals a scam.
In contrast, Star Profit Trading remains entirely anonymous. Nowhere is a company name provided, not even in the Terms and Conditions. Additionally, the Terms and Conditions reference another brand, Crypto Time Finance Pro, indicating a likely connection to previous fraudulent endeavors by the same operators.
Star Profit Trading offers a UK contact address, and their homepage displays an image of what appears to be a license. However, this document is fraudulent and lacks any mention of a company name.
A review of the UK Financial Regulator’s register reveals a cautionary statement indicating that Star Profit Trading is not authorized as a financial services provider.
Trading Platform
Star Profit Trading asserts to provide the widely acclaimed trading platform, MetaTrader 5 (MT5). However, upon registration, users are unable to access this software. Instead, they encounter an imitation trading platform on Star Profit Trading’s dashboard. This imitation lacks real order placement functionality and fails to display essential parameters such as spreads, margin requirements, and other fundamental aspects.
It’s recommended to reach out to one of the numerous reputable brokers providing MetaTrader 5 (MT5) or the enduringly popular MetaTrader 4 (MT4). These platforms have earned their leadership status by offering extensive features, such as customizable options, support for multiple accounts, and the ability to design and implement custom scripts for automated trading and backtesting trade strategies.
Minimum Deposit
Star Profit Trading mandates a minimum investment of 500 USD. However, with significantly lower amounts, you can open a trading account with some of the industry’s top brands.
Payment Methods
| Deposit time | Withdrawal time | Price | |
| Bank wire | 2-5 business days | 5-10 business days | $25+ |
| Credit card | Instant | 24 hours | Free |
| PayPal | 1 hour | 24 hours | 2% |
| Skrill | 1 hour | 24 hours | 2% |
| Neteller | 1 hour | 24 hours | 2% |
| Crypto | 24 hours | 24 hours | Fee depends on crypto |
In the deposit menu of Star Profit Trading we see multiple cryptocurrencies and several e-wallets. But when selecting any of the conventional methods, a message pops up to contact support. In practice, only cryptocurrencies are available as a deposit method.
This is a common tactic employed by financial scammers. They prefer cryptocurrencies as a payment method because it offers them a level of anonymity and prevents victims from requesting refunds.
Although there are legitimate brokers that accept digital currencies like Bitcoin, they typically offer other transparent payment methods such as credit/debit cards, bank transfers, or popular e-wallets like PayPal, Neteller, or Skrill.
Trading Instruments
Star Profit Trading lacks both the legal authorization and the technological infrastructure necessary for facilitating trading in financial instruments. Additionally, it promotes cryptocurrency trading, a practice prohibited for brokers legitimately based in the UK.
Star Profit Trading Spread
Star Profit Trading advertises low spreads and commissions, but as previously mentioned, this fraudulent broker lacks genuine trading software. It’s prudent to invest in financial markets solely through licensed and reputable brokers.
Leverage
| Currency | Stocks | Crypto | Gold | Indices | |
| Star Profit Trading | 500:1 | 500:1 | 500:1 | 500:1 | 500:1 |
| UK regulated brokers | 30:1 | 5:1 | ❌ | 20:1 | 20:1 |
| EU regulated brokers | 30:1 | 5:1 | 2:1 | 20:1 | 20:1 |
| AU regulated brokers | 30:1 | 5:1 | 2:1 | 20:1 | 20:1 |
| US regulated brokers | 50:1 | ❌ | ❌ | ❌ | ❌ |
Star Profit Trading’s promotion of “generous” leverage at 1:500 serves as further evidence of its fraudulent nature. A UK licensed broker cannot legally offer such risky levels of leverage. While high leverage presents the potential for larger profits, it also significantly increases the risk of substantial losses. Leading regulators impose restrictions on leverage for retail traders to mitigate these risks.
Regulated brokers only provide higher leverage to professional clients who meet stringent criteria for capital and experience, foregoing the protections available to retail traders.
If you’re not eligible as a professional trader but are willing to undertake the risk of high-leverage trading, the most viable option is to utilize the services of an offshore affiliate associated with an established brand.
Withdrawal Requirements
| Trading volume requirement | Fee/Tax on withdrawal | Minimum withdrawal | |
| Star Profit Trading | Not specified | Not specified | Not specified |
| UK regulated brokers | No | No | No |
| EU regulated brokers | No | No | No |
| AU regulated brokers | No | No | No |
| US regulated brokers | No | No | No |
While Star Profit Trading may not explicitly outline extraordinary withdrawal conditions, scams of this nature often employ hidden fees and other tactics to hinder the withdrawal process. These traps frequently relate to the bonuses offered, complicating attempts to retrieve invested funds.
Pros and Cons
| Pros | Cons |
| Notning to mention | Anonimous |
| Fake claims of regulation | |
| Blacklisted by the FCA | |
| Fake trading software | |
| Only crypto payments |