Starleeft Review – 5 things you should know about starleeft.com

Starleeft Review – 5 things you should know about starleeft.com

Rating: 1

Beware! Starleeft is an offshore broker! Your investment may be at risk.

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We have s strange feeling like we have seen Starleeft someplace else, as if we have reviewed this broker before. It turns out that it bears resemblance to a couple of firms that we had reviewed some days prior to this one, all of which turned out to be scams! Even if Starleeft was its own thing, we still would not be impressed by it, and we doubt that its essence would have been different.

We start off with a very easy registration, one that reminded us we are dealing with a broker that will try to solicit users. Why else would it allow for such an easy access point? However, the user area was blocked to us because the broker required verification documents. We would never give is any ID copies or similar docs, and neither should our readers!

So, we have no choice but to rely on the website, a source of information that we do not trust. Bear this in mind!

And so, from the website we got forex currency pairs, commodities, bonds, indices, stocks, cryptocurrencies, and futures as the available tradeable assets. The leverage cap of 1:500 is the most common offshore brokerage value. The cost of trade is said to be 0.6 pips.The cost of trade values are all different, and it depends on which section of the website you refer to. We saw instances where Starleeft claimed a spread of 0.1 pips, of 0 pip, and others like this. So, in reality, we have no definitive spread.

Moreover, whilst opening our account, we were able to choose from fx and stock trading, but also binary options trading was made available. Yet, there was no proof of this on the website, and no binary options information exists anywhere else.

The website of the broker is available in English.

STARLEEFT REGULATION AND SAFETY OF FUNDS

We learn that Starleeft is allegedly licensed by CySEC, by ASIC, the Securities Commission of The Bahamas, and the Financial Services Authority of Seychelles. A very big claim by a very undeserving broker.

Its parent firm, Raw Trading Ltd parent firm, turns out to be the holding company of another broker, one IC Markets, a legit broker. It turns out that Starleeft is a shameless clone of IC Markets, and has taken most of the regulatory details from the original source. Starleeft has also “borrowed” the website design, and most of the texts and details.

No wonder it seemed familiar at first glance! And this explains that the FCA warns that we found later on stating the broker to be a risk to all! It seems that Starleeft has almost nothing to call its own!

Overall, Starleeft is unregulated and a risk to all. It is also a pure scam! All investments will be lost!

If one were to find a reason for investing in unlicensed brokers it would create a seismic shift in the market industry. But until then, your money will be wasted with unlicensed entities. Their only purpose is to steal money and use it for their own benefits. Not unlike regulated brokers, whose goal is to provide a stable, safe, and fair trading environment. We say go for any UKEUUS, or Aussie-regulated brokers, although there are many other great licensors out there. Financial watchdogs are responsible for sustaining the market industry as a whole, and they are what keeps everything in place. Without them, scammers would be rampant. Put your trust in them, for we have!

STARLEEFT TRADING SOFTWARE

The only thing we have to say here is that none of the promoted platforms are available. The broker advertizes three very big and popular trading softwares, but neither one of them is available.

STARLEEFT DEPOSIT/WITHDRAW METHODS AND FEES

As a final sign that the broker is not to be trusted, we give our users the last nail to the coffin: the complete lack of concrete payment information. There have not been indicated any minimum deposit requirements, nor any payment methods, or any withdrawal details.

Users that have not verified their accounts have only to guess. As for us, we can give you the most standard payment methods, but the truth is that payment terms are different from broker to broker.

The most common minimum deposit is $250, while the most popular payment methods with unlicnesed brokers are cards, bank transfers, and especially cryptocurrencies.

But that’s that. Starleeft is not worth it. It is unregulated and a risk to all!

HOW DOES THE SCAM WORK

The way the scam works is the same way it has been since the begining. Very few changes have been made since its inception.

First, the user is attracted to one of many online ads that promise wealth and prizes, or he can be triggered via an email received from the broker.

If these sound too good to be true, then the user, out of curiosity, will scout the website of the broker and either be fooled by the offers there or will immediately understand the fraudulent nature of things.

The broker will require some sort of contact method from the user, so that the scammers can keep a tab on the user. The client will then be pushed into investing as many times as possible, but the general rule is that once an initial deposit is made the user will be more willing to invest more.

At some point – it’s inevitable – the user will feel like he wants to see some of that promised money, and will ask for a withdrawal. At this point, the broker has lied his way through a couple of investments. Once the withdrawal request hits, the broker will do everything in its way to stall it or cancel it. One way or another, the user will have a very hard time receiving his money back.

WHAT TO DO WHEN SCAMMED

VISA and MasterCard have extended their chargeback periods to 540 days, meaning that user has more than enough time to file for one. This is the safest bet for your money back.

If the money invested was made through a bank, then we urge victimized users to change their bank account pass and user name ASAP. And then they should contact the bank support team and explain their situation.

Crypto investments are the riskiest of all because they are untraceable. Only the broker can repay you if it wishes to do so.

Do not put your money with recovery agents no matter how tempting it may sound. It’s the temptation that got you in this mess in the first place! Recovery agents will promise to reimburse users for an exchange fee that will be also stolen!

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