About CapStar FX Review
The website for CapStar FX is located at https://capstarfx.com and it was founded in 2022. It has yet to obtain any regulations, however it does provide services in English and Arabic. Accepted deposit methods include FastPay, AsiaHawala, NassWallet, Tether, and ZainCash with an unspecified minimum deposit requirement. Unfortunately, there is no free demo account available and the number of assets offered as well as the types (metals, forex, stocks, indices, energy crypto currency) are unknown. The lack of regulations is a cause of concern since this broker is registered with the St. Vincent and Grenadines Financial Services Authority but they have stated that they do not regulate forex brokers at all.
No Legal Representation
Other Important Negative Features of CapStar FX
It is critical to point out that there is no usable trading platform here and, as such, the trading conditions of this broker are irrelevant. However, not detailing these conditions is a red flag that usually alerts traders to potential scams. To prevent such issues from occurring, legitimate brokers will provide their clients with all necessary information regarding any applicable trading terms and conditions.
A key component of the trading terms which is often omitted by CapStar FX includes the minimum deposit amount. This omission should be taken as a sign of unreliable practices since it could indicate fraudulent activity. It should also be noted that high leverages like 1:100 are very risky and even illegal in certain jurisdictions. Therefore, traders should always do thorough research before deciding whether or not to trade with a given broker.
We are suspicious of CapStar FX for two reasons. The payment options offered are obscure and the fact that they accept three cryptocurrencies as part of their five payment options. These payment providers, such as FastPay, AsiaHawala, NassWallet, and Tether and ZainCash cryptocurrencies do not have a reliable reputation or broad recognition. Additionally, scammers often use crypto transactions because they are permanent and untraceable; meaning once payment is made it cannot be refunded. To ensure legitimacy, legitimate brokers provide widely known payment solutions such as credit cards, debit cards, bank transfers, wire transfers as well as online payments like Skrill, Neteller and PayPal.
CapStar FX does not indicate any of their withdrawal procedures. We are unaware of any restrictions on how much one can withdraw in a single transaction, what payment options are accepted, the length of time it takes to process requests, or potential fees associated with withdrawals.
By reading the CapStar FX Review above, One can easily conclude that the broker is a scam. There are many other eviences from the customers through the review channels that this broker is a fraudulent one. If you are a victim of CapStar FX, File a complaint with Scams Report Team and Get help in recovery.
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