Starlight Capital has an ordinary-looking, yet welcoming and comprehensive homepage. While nothing in particular on it would take your breath away, it’s still acceptable for a broker of such caliber. The separate sections contain all the information you want to know about a brokerage firm firsthand. The unfortunate fact is the missing regulation, which is the single valid confirmation of the broker’s credibility and truthfulness of their statements. Starlight Capital doesn’t have it.
The first confusing detail pertains to the firm’s actual location. Romania and Saint Lucia are the two countries mentioned. What is really the truth, and how fair and transparent is Starlight Capital in reality, if they are any of it at all. Our Starlight Capital review explains these and other circumstances surrounding this dubious brokerage, so stay tuned as we uncover the actual truth behind the friendly facade.
Starlight Capital got us all confused right from the start. A particular statement on the website mentions a CFTC license. This strict regulator is in charge of licensing financial entities in the US. Along with NFA, CFTC enforces one of the harshest regulatory standards in the world. All CFTC regulated brokers enter the NFA list of members. A quick check of the database gave back no results for Starlight Capital. So, this firm is not regulated the way they claim to be.
Because the company also mentions a Romanian address, we had to also check with their jurisdictional regulator, as well. ASF (Financial Supervisory Authority) is the authority that oversees the securities market and issues licenses to financial service providers on the territory of Romania. As a member state of the UN, Romania enforces the same regulatory standards as the other EEA regulators. Starlight Capital is not showing as one of their supervised entities.
Moving on to Saint Lucia, the Financial Services Regulatory Authority is their leading financial regulator. The website has a section dedicated to regulated entities in the virtual assets niche but the page is currently empty. Whether that means the website is acting up or the FSRA hasn’t regulated any brokers yet, we do not know. Either way, this is no Tier 1 regulator, and Starlight Capital would still need a premium license to be treated as a reliable and trustworthy brokerage.
Finally, the Starlight Capital page on TrustPilot says the company is located in the UK. Checking the FCA (Financial Conduct Authority) database, we could see no information on this fraud. Starlight Capital could, in essence, be located just about anywhere, but they still do not operate under any legal framework and proper supervision.
After checking with several more regulators, like CySEC, ASIC, BaFin, CONSOB and CNMV, we were certain this broker is not regulated in any way, shape or form. Without the trading authorization, Starlight Capital cannot offer proper security.
The broker can easily access and misuse your deposits, because they’re not stored in the segregated bank account. Starlight Capital also doesn’t provide negative balance protection or compensation funds. Platform of this type, just like Aurora Capital Finance, offers higher leverage than Tier 1 regulators allow. In accordance with that, maximum exposure at Starlight Capital is 1:400! And why is that so? Because this broker wants you to enter risky trades so you lose your funds quicker. So better stay away. That’s the best advice we can give you, if you do not intend to get robbed.
At the time of writing this review, Starlight Capital had about 30 reviews in total on TrustPilot. Apparently, more than 50% of the total ratings were one-star reviews. The dissatisfaction of their ex customers is painfully evident. Problems reported range from withdrawal issues to the support office being completely unresponsive. But let us not bore you with our own interpretations. You can get the whole picture from the comments by the fraud victims themselves:
Scam, do not invest. I have been waiting for my money for almost 7 months and I have no access to the website or any one from the company informing me about any change in the company. My money is locked forever now in the platform. I deeply regret my decision to abandon the reputable platform on my head name and fall victim to this scam.
STAY FAR FAR AWAY FROM THIS COMPANY. Check the response that they give to all the complaints, it is basically a copy and paste and as per contacting their customer support, they don’t have one as you call or email them. The answer is to contact your account manager who is the one that screws you up in the first place.
I have warned the bank and the police about this company. I hope they will be arrested and closed down so they stop robbing money from honest people.
This company will call you every day, several times a day, for months! They don’t take no for an answer. Even though I made it really clear that I don’t want to invest, they keep asking for my financial status as well as other personal things in the phone calls. When trying to deflect or avoid the questions (because it’s non of their business), they are just super pushy. Avoid!
If you too are experiencing any of the problems that Starlight Capital victims are reporting about, we implore you to contact us promptly so we can provide you with the needed support.
Some of the most used scam techniques have already been described by the Starlight Capital targets. For example, the most characteristic method of getting in touch with their potential victims is by stalking them on social networks. There, Starlight Capital scam agents manage to dig out any contact info and start pestering the target to invest.
By offering seemingly unparalleled trading conditions and exceptional choice of tools and instruments, Starlight Capital boiler room advocates manage to convince the investors to put money into their scam scheme. Although you may at first be reluctant to invest, sooner or later, you will decide to give it a go after listening to all the alluring stories about potential gain.
Soon after you’ve got all your bank accounts and credit cards depleted, your super friendly agent, account manager or whatever, will turn their back on you. Simply because you are no more of use to them. Your withdrawal attempts are in vain and you’ll find yourself alone and desperate. But worry not. That’s exactly why we exist. Reach out to us if you need help resolving an issue with this firm, and we’ll be quick to force them to give back your capital.
We wish we could tell how Starlight Capital has a long history full of success behind them. In actuality, the brokerage has only existed a little less than a full year. During this period, they’ve spread across a number of countries and continents, just like plague.
Unfortunately, the number of victims keeps growing, and we can only hope the authorities will be quick to react and shut them down before any more investors lose their hard-earned funds. For now, most of the complaints come from traders residing in the following countries:
Starlight Capital uses only the most simple trading application out there – the Web Trader. By itself it’s not such a bad program, and you can run it without downloading or installing anything, directly from your Browser of choice.
The selection of trading applications is almost as important as broker regulation. All the favorable market conditions won’t help you much if you don’t have the right tools for the job. When selecting a broker, look for one that supports the MetaTrader4, MetaTrader5 or cTrader software.
Starlight Markets offer a relatively small diversity of trading instruments. These are nothing exotic or out of the ordinary, and the spreads are nothing earth shattering either. That said, a good portion of the most popular assets are available.
Let’s have a look at which instruments Starlight Capital has to offer:
The only difference is that Starlight Capital is not so greedy, at least with their cheapest account. Here are the accounts now, as well as their pricing:
Unlike the vast majority of these scammers, Starlight Capital does offer a Demo Account to their traders. It is available at any time, while logging into the Web Trader. Although this is a good way to test different trading scenarios and new ideas, you shouldn’t take it very seriously.
Remember – scam brokers fake all their market information. The same goes with a Demo as well. The only purpose of a Demo is to hook new potential victims. They don’t represent any actual trading conditions, and very often make the asset speculation seem easy and very profitable. The reality is quite different.
Not much different from any other financial swindler we usually review, Starlight Capital pushes traders into risky investments. The fraudster achieves this by exposing traders to high leverage of up to 1:400. Needless to mention, this breaches all known Tier 1 regulatory rules that limit the leverage to 1:30 or 1:50 at most.
Minimum spreads available for EUR/USD are set to 0.7 pips. Such tight spreads could rival the offer of some of the world’s most popular and respected brokers. If only they were true. But considering this website is controlled by a fraudster, you cannot expect these trading parameters to be genuine.
Another dangerous aspect you should always examine in detail before investing are the fees. TOS at Starlight Capital are not overly explanatory of these elements. The broker only mentions a withdrawal fee of 1% with a minimum withdrawal fee of 30 USD/GBP/EUR and the maximum withdrawal fee of 300 USD/GBP/EUR will be deducted from your balance with every withdrawal you make.
Inactivity fee is also present. In the event that no transaction has been executed through your Account for 30 consecutive days, the site charges your account with dormant account fees in the amount of 99 USD/ GBP/ EUR per each such period.
Starlight Capital accepts many types of different payment options. These should, in paper, include Bank Cards, such as Visa, MasterCard and Maestro. The truth is a bit different. These swindlers say that they do not accept unmonitored transactions, and that in order to deposit or withdraw, you need to contact an Account Manager – or better said Boiler Room Agent, beforehand.
We know that many people complain about problems when it comes to Withdrawals from Starlight Capital. Because they employ Boiler Room Agents at every corner, these people will invent any reason as to why you can’t withdraw your money. In the end, payout may even prove to be impossible, or subject to insane fees that take a good portion of your money either way.
After all we’ve seen with Starlight Capital, we can say with certainty that this company is a front for a broker scam. They lack any regulation, and the company information is so jumbled and messed up you can hardly tell where the company HQ is located. The broker actively uses Boiler Room Agents to persuade as many people as possible to invest with Starlight Capital, only to pull the rug from underneath the poor guys’ feet.
In the case you have already invested with Starlight Capitals and find yourself in a bind, you should consider asking for legal help. Our team of legal experts are on hand to aid you in recovering your assets. We’d like to hear from you, so we have implemented a Live Chat for the shortest response time possible. Don’t let your money go to waste! Contact us as soon as possible, for the longer you wait, the greater the chances your funds are gone for good. And remember, our first consultation is absolutely free.
Starlight Capital is a fraudulent broker with no valid regulation or authorization for the work they allegedly provide. We don’t recommend investing with this broker. In the case you have already deposited funds with Starlight Capital, consider seeking legal advice as soon as possible.
The minimum deposit amount for Starlight Capital is “250, which yields access to the cheapest live account this broker offers.
Starlight Capital offers a number of different trading assets, and these do include both Cryptocurrencies and a large number of different CFDs.
Starlight Capital is a fraudulent broker with no valid regulation or authorization for the work they allegedly provide. We don’t recommend investing with this broker. In the case you have already deposited funds with Starlight Capital, consider seeking legal advice as soon as possible.
The minimum deposit amount for Starlight Capital is “250, which yields access to the cheapest live account this broker offers.
Starlight Capital offers a number of different trading assets, and these do include both Cryptocurrencies and a large number of different CFDs.
The post Starlight Capital Review – Friendly And Nice But A Scam Nonetheless appeared first on Global Fraud Protection.
