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Starfish foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://my.starfishfx.com/auth/register, about the company's legal and temporary regulatory information, the company's address Level 1 1 Dickens Street Napier.

Starfish Forex Broker

Basic Information

Registered Region

New Zealand

Operating Period

Company Name

Starfish Markets Limited

Abbreviation

Starfish

Company employee

Customer Service Email Address

cs@starfishfx.com

Contact Number

+852 8191 7339

Company Website

https://starfishfx.com/en/

Company address

Level 1 1 Dickens Street Napier

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

New Zealand Financial Service Corporate Revoked

Suspicious Overrun

High potential risk

Company profile

Aspect Information Registered Country/Area New Zealand Founded Year 5-10 years Company Name Starfish Markets Limited Regulation Regulatory license revoked, not currently regulated Minimum Deposit N/A Maximum Leverage N/A Spreads N/A Trading Platforms Starfish FX MT4 Terminal, Starfish FX iPhone/Android Trader, MT4 forex derivatives trading platform Tradable Assets Forex, CFDs on stocks, indices, commodities, and cryptocurrencies Account Types ECN Accounts, Demo Account, Live Account Demo Account Available Islamic Account N/A Customer Support Phone: +852 8191 7339 (English), +64 6 824 3665 (Chinese), Email: cs@starfishfx.com Payment Methods Mastercard, VISA, UnionPay Educational Tools 14 free lessons on forex trading Overview of Starfish Starfish Markets Limited, a financial service provider based in New Zealand, has had its regulatory license revoked, indicating that it is operating outside the regulatory framework. This poses potential risks for customers, and caution should be exercised when dealing with the company. Despite the availability of market instruments such as trading in over 50 currency pairs in the foreign exchange market and Contracts for Difference (CFDs) on various assets, the selection of Exchange-Traded Funds (ETFs) offered by Starfish may be limited compared to other brokers. Spread betting on different assets is also an option for customers. Account types provided by Starfish include ECN accounts for experienced traders seeking direct market access, demo accounts for practicing strategies, and live accounts for real-money trading. The company implements specific fees for their services, but they offer fee-free deposits and the opportunity to earn interest on unused funds in accounts. Multiple trading platforms are available, including the Starfish FX MT4 Terminal for comprehensive trading tools, the Starfish FX iPhone/Android Trader for mobile trading, and the MT4 forex derivatives trading platform. Educational tools, such as free lessons on forex trading, are provided to enhance traders' knowledge. Customer support can be accessed through phone and email. Reviews of Starfish on WikiFX are mixed, with some reviewers cautioning against the company while others expressing positive experiences. It is important to consider these mixed reviews and exercise caution when considering Starfish Markets Limited as a financial service provider. Pros and Cons Starfish offers a range of trading opportunities, including over 50 currency pairs, CFDs on stocks, indices, commodities, and cryptocurrencies, as well as spread betting on various assets. They provide ECN accounts for experienced traders and demo accounts for practice trading. The broker also offers the popular MT4 trading platform. However, it is important to note that Starfish has had its regulatory license revoked, operating outside the regulatory framework. Additionally, there is limited information available regarding deposit and withdrawal processes, trading fees, and specific educational resources beyond basic forex trading lessons. Reviews of Starfish are polarized, with both positive and negative experiences shared by traders. Pros Cons Offers trading in over 50 currency pairs Regulatory license revoked, operating outside the regulatory framework Provides CFDs on stocks, indices, commodities, and cryptocurrencies Limited information on deposit and withdraw Allows spread betting on various assets Vague trading fees and conditions Offers ECN accounts for experienced traders Limited educational resources beyond basic forex trading lessons Provides demo accounts for practice trading Polarized reviews, with both positive and negative experiences shared Provides popular MT4 Limited information on specific fees beyond fee-free deposit option Is Starfish Legit？ Starfish Markets Limited, a financial service provider based in New Zealand, has had its regulatory license revoked. The company is no longer regulated by the appropriate authorities and does not hold a valid license. This means that Starfish Markets Limited is operating outside the regulatory framework, which poses a potential risk for customers. It is important to exercise caution when dealing with this company and be aware of the associated risks. Market Instruments Forex: Starfish provides a range of trading options in the foreign exchange market, allowing customers to trade in over 50 currency pairs. This includes major currency pairs such as EUR/USD and GBP/USD, as well as minor and exotic currency pairs. CFDs: Starfish offers Contracts for Difference (CFDs) on various assets, providing customers with the opportunity to speculate on the price movements of stocks, indices, commodities, and cryptocurrencies. Customers can trade CFDs on popular stocks like Apple, Google, and Amazon, as well as global indices such as the S&P 500 and the FTSE 100. ETFs: While Starfish offers trading in a limited number of Exchange-Traded Funds (ETFs), the specific options and variety of ETFs available may be relatively limited compared to other brokers. Customers interested in ETF trading should consider the available options before making investment decisions. Spread Betting: Starfish allows customers to engage in spread betting, a form of speculative trading where customers can take positions on the price movements of various assets. This includes stocks, indices, commodities, and cryptocurrencies. Spread betting enables customers to potentially profit from both rising and falling markets. Pros and Cons Pros Cons Provides a wide range of trading options in the forex market, including 50+ currency pairs Limited options and variety of ETFs compared to other brokers Offers Contracts for Difference (CFDs) on various assets, including stocks and indices Limited information on specific market instruments on official website Allows spread betting on multiple assets, enabling potential profits in rising and falling markets Limited information on specific fees and conditions beyond deposit options Account Types ECN Accounts: Starfish offers ECN accounts to its clients. These accounts are designed for experienced traders who prefer direct market access and require fast execution speeds. ECN accounts provide access to the interbank market, allowing traders to trade with other market participants. They typically offer tight spreads and charge commissions on trades. ECN accounts are suitable for those who value transparency and direct market access. Demo Account: Starfish provides a demo account option for traders who wish to practice their trading strategies or familiarize themselves with the platform before committing real funds. The demo account simulates real market conditions, allowing users to trade with virtual money without any risk. It serves as a valuable tool for beginners or traders looking to test new strategies without incurring any financial losses. Live Account: Starfish offers live trading accounts for clients who are ready to trade with real money. These accounts provide access to a wide range of financial instruments and trading opportunities. Live accounts require an initial deposit, and traders can choose from different types such as Standard, Mini, or VIP accounts, depending on their trading preferences and investment size. Live accounts allow traders to participate actively in the financial markets and execute trades based on their strategies and analysis. Pros and Cons Pros Cons Offers ECN accounts for experienced traders Limited information on specific spreads and commissions Provides demo accounts for practice trading Regulatory license revoked, operating outside the regulatory framework Offers live trading accounts with access to various financial instruments Limited information on account types and their specific features Fees Starfish FX implements specific fees for their services. They offer a fee-free deposit option for all e-deposits, meaning there are no charges for depositing funds into the trading account electronically. Additionally, they provide an interest rate of 2.5% per annum on the free margin, with daily compounding. This allows traders to earn interest on the unused funds in their accounts, providing a potential source of additional income. Trading Platforms Starfish FX offers multiple trading platforms to cater to the diverse needs of traders. One of their trading platforms is the Starfish FX MT4 Terminal, which is available for download. This platform provides traders with a comprehensive set of tools and features to execute their trades. Another trading platform offered by Starfish FX is the Starfish FX iPhone/Android Trader, which is also available for download. This platform is specifically designed for mobile devices, allowing traders to access their accounts and execute trades while on the go. Starfish FX also offers the MT4 forex derivatives trading platform. Traders can download this platform to access a wide range of forex derivative products, enabling them to engage in various trading strategies and capitalize on market opportunities. In addition to the trading platforms, Starfish FX provides access to the My Account feature. Through this feature, traders can manage their accounts, monitor their trading activity, and access important account information. Furthermore, Starfish FX offers access to Trading Central, a platform that provides traders with valuable market analysis and research tools. Traders can utilize this platform to make informed trading decisions based on the latest market trends and insights. Pros and Cons Pros Cons Offers multiple trading platforms catering to diverse needs Limited information on specific fees beyond fee-free deposit option Comprehensive set of tools and features Lack of information on additional features such as research tools Mobile trading platform for access on the go Educational Tools Starfish FX provides a range of educational tools to assist traders in expanding their knowledge. These tools include 14 free lessons on forex trading, covering various topics such as the basics of forex, foreign exchange rates, players in the forex market, major forex markets worldwide, key factors affecting exchange rates, different types of trading, fundamental analysis, and technical analysis. These lessons aim to provide traders with a solid foundation and understanding of the forex market and its intricacies, enabling them to make informed trading decisions. Payment Methods Starfish FX offers multiple payment methods for its clients. These payment methods include widely accepted options such as Mastercard, VISA, and UnionPay. These payment options provide clients with ways to fund their accounts and engage in trading activities. Customer Support Starfish FX provides customer support through various channels. Traders can contact their English customer support team at +852 8191 7339 and their Chinese (Simplified) customer support team at +64 6 824 3665. Additionally, traders can reach out to Starfish FX via email at cs@starfishfx.com for any inquiries or assistance they may require. Reviews The reviews of Starfish on WikiFX are mixed. Some reviewers have labeled it as a scam and a fraud broker, warning others to stay away due to severe slippage. However, there are also positive reviews from traders who had a pleasant experience with Starfish. They appreciated the lower spreads, smoother platform, and decent profits they were able to make. One reviewer expressed gratitude for the excellent customer support and convenience provided by Starfish. Overall, the reviews on WikiFX are polarized, with both negative and positive experiences shared by traders. Conclusion In conclusion, Starfish Markets Limited, a financial service provider based in New Zealand, operates without a valid regulatory license, which raises concerns about its legitimacy and customer protection. While Starfish offers a range of market instruments such as forex, CFDs, ETFs, and spread betting, it is important to note that the variety of ETFs available may be limited compared to other brokers. The company provides different account types, including ECN accounts for experienced traders, a demo account for practice, and live accounts for real trading. Starfish FX implements specific fees for their services, including fee-free e-deposits and an interest rate on unused funds. The company offers multiple trading platforms, including the Starfish FX MT4 Terminal and the Starfish FX iPhone/Android Trader. Educational tools are available, including free lessons on forex trading. Payment methods such as Mastercard, VISA, and UnionPay are accepted. However, it is crucial to exercise caution when dealing with Starfish due to the mixed reviews on WikiFX, with some reviewers labeling it as a scam and warning about severe slippage. FAQs Q: Is Starfish Markets Limited a legitimate company？ A: Starfish Markets Limited is no longer regulated and does not hold a valid license, posing potential risks for customers. Exercise caution when dealing with this company. Q: What market instruments does Starfish offer？ A: Starfish offers forex trading, CFDs on various assets, limited ETF trading options, and spread betting. Q: What types of accounts does Starfish offer？ A: Starfish offers ECN accounts for experienced traders, demo accounts for practice, and live accounts for real trading with different options. Q: What are the fees associated with Starfish？ A: Starfish offers fee-free e-deposits and the opportunity to earn interest on unused funds. Q: What trading platforms does Starfish provide？ A: Starfish offers the Starfish FX MT4 Terminal, Starfish FX iPhone/Android Trader, and MT4 forex derivatives trading platform. Q: What educational resources does Starfish offer？ A: Starfish provides 14 free lessons on forex trading to help traders expand their knowledge. Q: What payment methods are accepted by Starfish？ A: Starfish accepts payment methods such as Mastercard, VISA, and UnionPay. Q: How can I contact Starfish customer support？ A: You can contact Starfish customer support via phone or email, depending on the language you prefer. Q: What do the reviews say about Starfish？ A: Reviews on Starfish are mixed, with some labeling it as a scam and others praising its lower spreads and customer support. Exercise caution and consider both positive and negative experiences shared by traders.

Starfish broker review

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How to login to Starfish?

Starfish Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a Starfish Account Registering for a Starfish account is the first step toward accessing its educational tools and resources. Below is a detailed guide on how to

Starfish Forex Broker - Complete Information Guide

1. Broker Overview

　　Starfish Markets Limited, established approximately 5 to 10 years ago, is a forex and CFD broker that claims to operate primarily from the United Kingdom. However, the company's actual registration is in New Zealand, where it previously held a financial services license that has since been revoked. This lack of a valid license raises significant concerns regarding its legitimacy and regulatory compliance. The broker operates privately and is not publicly listed.

　　Starfish primarily targets retail traders and investors looking to engage in forex trading, offering access to various trading instruments, including currency pairs and CFDs. Despite its claims of being based in the UK, the presence of a Hong Kong country code and confusion around its operational base has led to skepticism about its actual location and regulatory standing.

　　Over the years, Starfish has faced challenges, particularly concerning its regulatory status. The revocation of its license by New Zealand's Financial Markets Authority (FMA) is a critical milestone that has impacted its reputation. The broker's business model focuses on providing trading services to individual retail clients, but its lack of regulation raises significant risks for potential investors.

　　In summary, Starfish operates as a forex broker that, despite its claims of legitimacy, has faced serious regulatory issues and lacks the necessary licenses to ensure safe trading practices.

2. Regulation and Compliance Information

　　Starfish is currently unregulated, having lost its license from the New Zealand Financial Markets Authority (FMA). The revocation of the license means that the broker does not hold any valid regulatory oversight, which poses a significant risk to clients. The company previously operated under the registration number 272925 in New Zealand, but this license has been revoked.

　　Due to its unregulated status, Starfish does not adhere to the stringent compliance measures typically required by recognized financial authorities. This includes the absence of customer fund segregation policies, which are crucial for protecting client deposits in the event of the broker's insolvency. Moreover, Starfish does not participate in any investor compensation schemes, which further exposes clients to potential financial loss.

　　The broker's Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures are also questionable. The lack of transparency regarding these processes raises concerns about the safety and security of client information and funds. Given these factors, it is highly advisable for potential clients to exercise caution and thoroughly assess the risks associated with trading through an unregulated broker like Starfish.

3. Trading Products and Services

　　Starfish offers a variety of trading products, primarily focusing on the forex market. The broker provides access to over 50 currency pairs, including major, minor, and exotic pairs. This extensive offering allows traders to engage in diverse trading strategies across different market conditions.

　　In addition to forex, Starfish provides Contracts for Difference (CFDs) on various assets, including stocks, indices, commodities, and cryptocurrencies. However, the range of CFDs may be limited compared to other brokers. The broker also allows spread betting on several assets, giving clients the opportunity to profit from both rising and falling market conditions.

　　Despite offering a range of trading products, the frequency of updates and the introduction of new instruments are not clearly communicated, leaving traders uncertain about the availability of additional trading opportunities. Starfish's services are primarily geared towards retail traders, with limited offerings for institutional clients or white-label solutions.

　　Overall, while Starfish provides a broad selection of trading products, the lack of regulatory oversight and transparency in its operations raises concerns about the reliability and safety of trading with this broker.

4. Trading Platforms and Technology

　　Starfish supports the popular MetaTrader 4 (MT4) trading platform, which is widely recognized for its advanced trading capabilities, including automated trading through Expert Advisors (EAs). The MT4 platform offers a user-friendly interface, comprehensive charting tools, and a variety of technical indicators, making it suitable for both novice and experienced traders.

　　In addition to the desktop version of MT4, Starfish provides a mobile trading application compatible with both iOS and Android devices. This mobile platform allows traders to manage their accounts and execute trades on the go, enhancing flexibility and accessibility.

　　Starfish operates on an ECN (Electronic Communications Network) model, which facilitates direct market access for traders. This execution mode is designed to offer tighter spreads and faster order execution, although specific details about spreads and commissions are not readily available.

　　The broker's technological infrastructure, including server locations and data security measures, remains vague. Transparency regarding these aspects is crucial for traders to assess the reliability of the trading environment provided by Starfish. Furthermore, the broker does not explicitly mention any API access for automated trading or advanced trading strategies, which may limit options for algorithmic traders.

　　In summary, while Starfish offers a reputable trading platform in MT4 and mobile trading options, the lack of clarity regarding its technological infrastructure and execution model may deter potential clients.

5. Account Types and Trading Conditions

　　Starfish provides several account types, although specific details about each account's conditions remain limited. The broker requires a minimum deposit to open a live trading account, but the exact amount has not been disclosed.

　　The standard account conditions include variable spreads, but the broker does not specify the average spreads or any associated commissions. Traders are advised to inquire directly with Starfish for precise details regarding trading costs.

　　Starfish also offers an ECN account designed for experienced traders who prefer direct market access and require fast execution speeds. This type of account typically provides tighter spreads but may involve additional commissions per trade.

　　For traders looking to practice their strategies, Starfish offers a demo account option. This allows users to trade with virtual money in a simulated environment, helping them familiarize themselves with the platform and test their trading strategies without financial risk.

　　Leveraging options for various products is not clearly defined, and the broker does not specify the minimum trading lot size for different account types. Additionally, information regarding overnight fees and other potential charges is not readily available.

　　In conclusion, while Starfish offers a range of account types and trading conditions, the lack of transparency regarding specific account features and trading costs may pose challenges for prospective clients.

6. Fund Management

　　Starfish provides several deposit and withdrawal methods, including bank transfers, credit/debit cards, and electronic wallets. However, the minimum deposit requirements for different account types remain unspecified, which could lead to confusion for potential clients.

　　The broker claims to impose no fees for deposits, which is a positive aspect for traders looking to minimize their trading costs. However, the processing times for deposits and withdrawals are not clearly stated, leaving traders uncertain about how quickly they can access their funds.

　　For withdrawals, Starfish does not provide detailed information regarding the methods available or any potential limitations. This lack of clarity could be a significant concern for traders who prioritize efficient and reliable fund management.

　　Furthermore, the absence of a clear fee structure for withdrawals raises red flags regarding the overall transparency of the broker's financial operations. Traders should be cautious and ensure they understand the costs and timelines associated with fund management when dealing with Starfish.

7. Customer Support and Educational Resources

　　Starfish offers customer support through various channels, including phone and email. The support team is reportedly available in English and Chinese, catering to a broader range of clients. However, the responsiveness and efficiency of the support team have been criticized in some reviews, with reports of slow reply times.

　　The broker provides educational resources aimed at helping traders enhance their knowledge and skills. This includes 14 free lessons on forex trading, covering essential topics such as market fundamentals, trading strategies, and technical analysis. These resources are beneficial for both novice and experienced traders looking to improve their trading capabilities.

　　In addition to educational materials, Starfish offers market analysis services, including daily market insights and research reports. However, the depth and quality of these analyses are not well-documented, which may leave traders wanting more comprehensive information.

　　Despite the availability of educational resources, the overall quality of customer support and the effectiveness of these resources could be improved to better serve the needs of traders.

8. Regional Coverage and Restrictions

　　Starfish primarily serves clients in various markets, with a focus on retail traders. However, specific details regarding the geographic distribution of its regional offices are not provided, which may hinder potential clients' understanding of the broker's global presence.

　　The broker does not accept clients from certain countries, although the specific restrictions are not clearly outlined. This lack of transparency regarding geographic limitations may pose challenges for potential clients seeking to engage with Starfish.

　　In summary, while Starfish operates in multiple markets, the absence of clear information about regional coverage and client restrictions may deter traders from choosing this broker.

　　In conclusion, Starfish presents itself as a forex broker with a range of trading products and services; however, significant concerns regarding its regulatory status, transparency, and customer support warrant careful consideration before engaging with this broker.

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