Weastar Global Markets Ltd is a newly established Japanese forex broker, registered in London, UK. The broker's website offers a variety of trading products, including forex, commodities, indices, precious metals, stocks, and cryptocurrency financial related services. Weastar Global Markets Ltd is not authorized by the US National Futures Association (NFA) and carries certain trading risks.
Corporate Background:
Weastar Global Markets Ltd is a company registered in the UK, specifically established on January 4, 2024. It's located at Flat 43 Perkins House, Wallwood Street, London, England, E14 7AH. According to corporate registration inquiries, this is a company known as Weastar Global Ltd, not Weastar Global Markets Ltd. This does not match the broker's website introduction. Weastar Global Markets Ltd has a newly registered domain name, registered on January 2, 2024.
Weastar Global Markets Ltd claims to be regulated by the US National Futures Association (NFA), providing a regulatory license number of 0561011. However, it was found that the company is not authorized by the NFA, indicating inconsistencies in regulatory information. Trading with this broker may entail higher risks.
Regulation is a key element in safeguarding investors' rights and ensuring financial market transparency. In this case, the false regulatory information provided by Weastar Global Markets Ltd may affect investors' trust in the broker. Investors should be extra cautious when choosing a trading platform, ensuring it is legitimately regulated and verifying the broker's claimed regulatory information to mitigate potential risks.
Trading Products:
Weastar Global Markets Ltd primarily provides trading services of financial products such as forex, commodities, indices, precious metals, stocks, and cryptocurrencies. The broker emphasizes offering low spreads, high leverage, and various account types to meet different customers' needs. Additionally, the company provides dedicated account manager services and 24-hour online customer support.
Trading Platform:
Weastar Global Markets Ltd offers a proprietary trading platform called "TW" that is compatible with iOS, Android, and Mac operating systems.
Potential risks of a proprietary trading platform include technical issues, security vulnerabilities, lack of third-party audits and regulation, among others. These risks could lead to trade delays, data breaches, or more complex system failures, affecting trading efficiency and security. Users should carefully evaluate these potential risks before opting to use a proprietary platform.
Account Types:
Weastar Global Markets Ltd offers two types of accounts: ECN accounts and STP accounts.
Features of ECN Accounts:
- Trading Platform: TRADINGWEB
- Spread for all major currency pairs: 0.0 Pips
- Leverage Range: From 50 to 500
- Server Locations: London, New York, Tokyo
- Minimum Trade Size: 0.01 Lots
- Currency Pairs: Yes
- Index CFDs: Yes
- Maximum Trade Size: 10000 Lots
- Stop Loss Level: 30%
- Minimum Deposit: $500
Features of STP Accounts:
- Trading Platform: TRADINGWEB
- Spread for all major currency pairs: 1.8 Pips
- Leverage Range: From 50 to 500
- Server Locations: London, New York, Tokyo
- Currency Pairs: Yes
- Index CFDs: Yes
- Minimum Trade Size: 0.01 Lots
- Maximum Trade Size: 10000 Lots
- Stop Loss Level: 30%
- Minimum Deposit: $500
Spreads and Leverage:
Within the services offered by Weastar Global Markets Ltd, ECN accounts are attractive to professional and high-frequency traders with their zero spreads (0.0 Pips), providing prices close to the original market. On the other hand, STP accounts offer a spread of 1.8 Pips, more suitable for everyday traders and those who prefer a stable spread.
Regarding leverage, Weastar Global Markets Ltd offers customers a choice of leverage ranging from 50x to 500x to meet the needs of different risk preferences and trading strategies. This leverage setting allows traders to adjust according to their financial situation and risk management strategy, but high leverage also increases trading risks.
How to Open an Account?
To open an account with Weastar Global Markets Ltd, visit its official website and click on “OPEN ACCOUNT”. Users need to fill in the relevant registration information, supporting multiple language options. During the registration process, you can choose between two different account types: STP ACCOUNT or ECN ACCOUNT, depending on your trading needs and minimum deposit requirements.
Customer Support:
Weastar Global Markets Ltd's customer support options are somewhat limited, mainly through email contact. Investors can further connect with the broker by sending emails to info@weastartop.com. This support method provides only one way of communication with the platform, with potential limitations such as the inability to communicate in real-time, delayed responses, etc.
Conclusion:
Weastar Global Markets Ltd is a newly established Japanese forex broker that offers various trading products, including forex, commodities, indices, precious metals, stocks, and cryptocurrencies related financial services. The authenticity of Weastar Global Markets Ltd's corporate registration information is questionable, and the company is not authorized by the NFA, implying higher trading risks associated with this broker. Weastar Global Markets Ltd provides a proprietary trading platform "TW", which might face risks including security vulnerabilities, lack of third-party audits and regulation issues.
Currently, Weastar Global Markets Ltd is marked as "Suspected Fraud" on Traderknows.
