Star Funds Management Pty Ltd is a forex broker that was registered in 2023, headquartered in Australia. Star Funds Management Pty Ltd primarily offers investors trading services in financial products such as forex, indices, precious metals, energy, and cryptocurrencies.
Company Background:
Star Funds Management Pty Ltd is an emerging broker registered in Australia, established for less than a year. The official website domain of Star Funds Management Pty Ltd was registered on March 23, 2023, and details regarding the company's specific entity, registration address, and office location in Australia are currently unclear.
Star Funds Management Pty Ltd claims on its official website to be regulated by the Australian Securities and Investments Commission (ASIC) and holds an ASIC regulatory license 488828. However, according to ASIC's inquiry results, Star Funds Management Pty Ltd itself has not obtained a retail forex license, and the authorization received does not cover its business operations, so it is not currently effectively regulated.
Prospects:
As a newly established broker, Star Funds Management Pty Ltd is still in the initial stages of development. Its specific operating conditions and business practices remain to be observed and assessed by the market further. However, due to the lack of effective regulation, investors should be particularly cautious about the potential risks when dealing with this company.
How to Open an Account?
To open an account with Star Funds Management Pty Ltd, users can visit its official website and click the "Register" button to start the registration process. The registration page requires users to fill in personal information, where only an email address is needed. The broker will send a verification code via email, and after submission, users can log in. Once logged into the trading platform, customers can perform deposit and withdrawal operations and start trading. The account registration page supports multiple languages including English, Traditional Chinese, and Japanese.
Account Types:
The official website of Star Funds Management Pty Ltd does not mention information related to trading accounts. According to the information displayed on its FAQ page, the broker claims to offer floating spreads, a trading leverage of 1:100 - 1:500, but details such as minimum deposit, trading commission, margin call level, stop out level, and minimum trade volume are not clearly published.
Trading Software:
Star Funds Management Pty Ltd provides users with a proprietary trading platform named Star Funds Management Pty Ltd FX6, available only for mobile download. The platform supports opening both real and demo accounts, allowing users to choose between virtual or actual trading according to their needs. There is no entity backing behind this trading platform, which may pose certain trading risks.
Website Design:
The website design of Star Funds Management Pty Ltd is highly similar to that of RIVER, BCC Markets Limited, SV Markets, ABHKFX, DEOASIS PTY LIMITED, and other brokers, suggesting a possible use of the same or similar website templates. Thus, investors need to conduct thorough due diligence and research when selecting a trading platform to ensure it meets their needs and expectations, and to be aware of potential risks.
Partners:
Star Funds Management Pty Ltd claims to partner with Goldman Sachs, an internationally renowned analytics institution. This partnership is aimed at providing investors with award-winning automated investment analysis and research tools to make the best decisions.
However, this claim has not been confirmed by the relevant institutions. Without official confirmation, such cooperation may pose the risk of false advertising. Therefore, investors should be cautious when considering this factor and may need to further investigate to determine the authenticity and reliability of the partnership.
Customer Support:
Star Funds Management Pty Ltd does not provide specific customer support services, causing difficulties for users in obtaining necessary assistance. The lack of customer support might lead to unresolved account issues, technical malfunctions, or other related matters, thus increasing the uncertainty and risk in trading.
Conclusion:
Star Funds Management Pty Ltd is a newly established forex broker in Australia. However, the lack of transparency and regulation raises doubts about its reputation. Star Funds Management Pty Ltd uses a proprietary trading platform and has not disclosed contact information. The official website of Star Funds Management Pty Ltd, along with those of ABHKFX, DEOASIS LIMITED, VLC Trade LLC, OBV Trade MT5, and other brokers, share high similarities in web design, possibly using the same template. Investors should avoid this platform to prevent unnecessary financial losses.
Currently, Star Funds Management Pty Ltd is marked as "suspected of fraud" on Traderknows.
