Trading in Forex is becoming increasingly popular, and as with any financial market, there are always those who will try to take advantage of inexperienced traders. This is where scam brokers come in. In this article, we will be reviewing Starekco Ltd., a broker that has been accused of scamming its clients.
Company Overview
| Broker Status: | Unregulated Scam Broker |
| Regulated by: | Unlicensed Forex Provider / No Regulation |
| Scammers Websites: | Starekco.com (site is inactive, verified 09/22/2022) |
| Operating Status: | Inactive Forex Trading Scam / Broker Disappeared |
| Blacklisted as a Scam by: | N/A |
| Broker Owner: | Starekco Ltd |
| Headquarters Country: | UK (allegedly) |
Team
Starekco Ltd. claims to have a team of professional traders and financial analysts who have years of experience in the Forex market. Additionally, the company states that its team is highly knowledgeable and can create customized strategies tailored to the individual needs of its clients. Unfortunately, we were unable to verify these claims, and there is no information available on the qualifications or experience of their team.
Services and Products
Starekco Ltd offers a range of services and products, including Forex and CFDs trading. Additionally, they provide a web-based trading platform that allows traders to access markets from anywhere in the world. The platform is said to be user-friendly and comes with a range of tools and indicators to help traders make informed decisions.
Trading Platform
Starekco Ltd. offers MT5 platform, which is very popular and feature-riched. But, they did not provide any information or details about their MT5 platform.
License and Regulation
License Status
Starekco Ltd claims to be licensed and regulated by the FCA as they are based in the UK. But, upon further investigation, we did not find any confirmation from FCA.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Regulation Status
Additionally, Starekco Ltd. is not regulated by any reputable financial regulatory body in Europe or the United States, and they do not have a license to provide investment services in those regions. Unregulated brokers are often associated with fraudulent activities such as scams.
Why Should Not You Trust An Unlicensed Broker?
It is essential to note that investing with an unlicensed broker can be a dangerous venture. Unlicensed brokers are not held accountable by financial regulatory bodies, and there is no government body to oversee their operations. Additionally, they are not required to meet any minimum capitalization requirements or keep clients’ funds in segregated accounts. This lack of regulation and oversight can make investors vulnerable to fraudulent activities such as scams.
Legal Warnings Against Starekco Ltd.
Multiple financial regulatory bodies have issued warnings against Starekco Ltd for their unlicensed activities. These include the Financial Services and Markets Authority (FSMA) in Belgium, the Australian Securities and Investments Commission (ASIC), and the Switzerland Financial Market Supervisory Authority (FINMA). These government organizations advise investors to exercise caution when dealing with Starekco Ltd. This leaves a question about the legality of the broker’s operation.
Client Feedback About Starekco Ltd.
About Their Trading
We found several forums where clients had shared their experiences with Starekco Ltd’s trading platform. Most of the reviews were negative, with clients complaining about the slow speed of the platform, slippage, and high spreads. Additionally, clients were unhappy with the lack of advanced features and tools that other brokers offer, making it challenging to make informed trading decisions.
About Their Customer Service
Most customer reviews of Starekco Ltd. revealed dissatisfaction with their customer service. Clients claimed that the support team was not responsive or helpful, and it was challenging to reach them.
How Can Reviewsadvice Help You If You Get Scammed?
If you believe that you have been a victim of a scam or investment fraud, you can contact Reviewsadvice for assistance. We will provide you with a free consultation and service recommendations to help you in recovering the money.
Final Thought
Starekco Ltd is an unlicensed broker with a suspended license. Regulatory bodies have issued warnings against the company, and customer reviews are mostly negative. Before investing with any broker, it is essential to research and verifies their license and regulation status. Having said that, it is always wise to work with licensed brokers, which can guarantee the safety of your investment.
