The broker StarkMarkers advertises itself as the world’s leading online trading provider. It also promises traders to gain profit from its unlimited opportunities. Sadly, no trading conditions are disclosed on the website of the broker. To some investors, all the offerings of StarkMarkers may look lucrative, but there is a catch. The broker is not regulated. In this StarkMarkets review, we will discuss possible benefits and demerits of this broker. Readers are advised to make a note of every point we made here. It will be beneficial.
To make this StarkMarkets review unbiased, we will discuss all the possible benefits and demerits of this broker one by one. First, let’s look at the benefits of StarkMarkets. The broker provides a leverage ratio of 1:500. This leverage ratio is very lucrative and can make a decent profit. However, high leverage ration also has high loss occurring capacity. For the same reason, regulate markets like Japan, and the USA banned them altogether. The StarkMarkets demerit is its unregulated nature. The company named Swissgems LTD based in Sofia, Bulgaria, is the owner of the StarkMarkets brand. The Bulgarian brokers must be regulated by a local financial body Financial Services Commission or any other EU based authority. Sadly, we couldn’t see the name of StarkMarkets in the registry of FSC. Nevertheless, the broker is unregulated and could not provide brokerage services. Not to surprise, the broker is blacklisted by Italian financial regulator CONSOB. The broker has salty charges for dormant accounts, withdrawals, maintainable of account are few to mention. Such fees and charges are primarily associated with scam brokers only. Legit brokers do not burden their clients with such salty expenses. The trading platform offered for trading is not MetaTrader; instead, a web-based concealed platform provides. The spreads we saw while testing a web-based trading platform was high. The spread of 3 pips can be seen on the dollar-euro fx pair. It is high and can drive the cost of trading high. The minimum investment required at StarkMarkets is $1000, and it is multifold higher than the market average. The payments at this broker are limited, and it accepts payment via only two channels cards and bank wire transfer.
Is StarkMarkets scam or legit?
The broker we are dealing here is a definite potential scam. The broker makes a false allegation of regulation. The trading conditions are missing from the website and are not profit-making. The broker StarkMarkets is a potential scam broker 2020.