Starfish FX Review

MIN. DEPOSIT $100
Up to 500:1
Up to 20% BONUS
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Starfish FX
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Overview

Company Information Starfish FX is one of the most famous New Zealand Forex and binary options trading broker. The company is a subsidiary of Starfish Capital and operates under the… more

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Details

BrokerStarfish FX
Website URLhttps://starfishfx.com/en/
HeadquartersNew Zealand
Support Number+64 6 824 3665
Support Emailcs@starfishfx.com
Support TypesPhone, E-mail
LanguagesEnglish, Chinese
Minimum 1st Deposit$100
Minimum Trade Amount0.1 lots
BonusUp to 20%
PayoutUp to 500:1
Free Demo AccountYes
Regulated Yes
RegulationMinistry of Finance, Vanuatu
Account TypesClassic, PRO, VIP
Deposit MethodsVisa, Visa Electron, MasterCard, Delta, JCB, Maestro, Wire Transfer, China UnionPay, Skrill
Withdrawal MethodsVisa, Visa Electron, MasterCard, Delta, JCB, Maestro, Wire Transfer, China UnionPay, Skrill
Types of AssetsForex,
Account CurrencyUSD, EUR, GBP, CHF
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Starfish FX is one of the most famous New Zealand Forex and binary options trading broker. The company is a subsidiary of Starfish Capital and operates under the Starfish Markets Ltd. name. It was created in 2010, and their headquarters are located in Auckland, New Zealand. Starfish FX became very popular in a short amount of time and had already spread their operations and have offices in Sydney, Tokyo, London and New York. Despite having an office in the US, however, they don’t allow US traders on the platform. The company is fully registered and operates under the authority of Vanuatu. They have the FSPR and FSCL licenses and are a legal online trading entity since December 2011. This online broker is very famous in Asia, and you can easily see why. Starfish FX has already won many awards and has been the Best Trading Platform in Asia for three consecutive years (2013-2015). It also won “Most Credible & Influential Brand in China” and “Best Forex Customer Service Award 2015” also in China. It was recognized as one of the top Asian brands in 2013.

 

Trading Information

Starfish FX offers three types of accounts for their clients. The Starfish Classic, Starfish PRO and Starfish VIP. The classic account has a $2000 minimum deposit limit and offers all the benefits you need from a standard account. It’s perfect for newbies that want to learn how to trade without risking too much money. Minimum deal size is 10 000 and spreads (fixed) go from 2.5 pips for majors. Leverage is 1:500. The PRO account has a $10000 minimum deposit requirement and offers some beneficial spread options. The fixed spreads here go from 2.0 pips, and you get a $5 advantage to every trade you make. The VIP account will cost you a whopping $50 000, and it’s made only for experienced traders with a lot of funds. It will give you even tighter spreads and a leverage of 1:100. You have a total of 83 trading instruments at your disposal, and they are available for every type of account.

 

Trading Platforms

As far as trading platforms are concerned, there is no surprise here. Starfish FX went with the proven MT4 platform that has been used for decades. It will give you all the flexibility you need, and you can set it up. However, you like it. It’s suitable for both Mac and Windows desktop computers. It also has a mobile version which you can download from the Apple Store or the Google Play Store. The MT4 is very easy to use, and usually, there aren’t any bugs that will spoil your trading experience. What’s interesting is that Starfish FX has made the effort to create a Binary Options dedicated MT4 platform. What it means is that if you’re looking for clean and hassle free binary options trading experience they have got you covered. Also, many brokers that offer the MT4 as their main platform, usually don’t have a WebBased (with no additional downloads or installation required) one. Starfish FX has made such a platform available, and traders can use it everywhere as long as there is an internet connection.

 

Security and Customer Services

As a fully licensed online trading broker, every trader can have their peace of mind that they won’t have any legal issues with the company. The security at Starfish FX is top notch, and it’s even shown on their website. There is a very secure SSL encryption on their login and registration page which ensures all personal data will be protected. Customer services are excellent, and it’s not surprising that the company has won an award for it. You can contact the business’s representative using the two phone number provided (one in New Zealand and on in China). You can also send an email to visit them at their office. The website is translated in English and Chinese, and customer support is available in both languages. Now, it ‘d be good to see the company implementing a Live chat or Skype customer support options as they are very popular right now. The educational resources available on their website are something you might want to check out. They’re very informative and easy to understand.

 

Deposits and Withdraws

As we already mentioned the minimum deposit for the platform is $2000. To transfer the funds into your account, you can use a lot of payment methods. The people at Starfish FX are very proud of their Zero Deposit Fee option for all e-deposits. What it means is that there are no charges whatsoever for transferring money into your account. Currencies supported for the deposit are USD, EUR, GBP, and CHF. Withdrawals can be made the same way you deposited the funds. They usually take a couple of days to process the payment, but it rarely goes over 5-7 business days. There are no withdrawal charges, and the only thing you need to do is fill out a withdrawal form.

 

Deposit Bonus and Loyalty Programs

Throughout the years, Starfish FX has made many tempting bonus offers. From a $50 no deposit bonus to a 30% deposit bonus. Today their bonus offer is up 20% bonus credits on deposits for the social trading platform ZuluTrade. The other bonus is more of a commercial about their VIP account tight spreads. These might not seem like the most tempting offers, but make sure to check their promotions frequently. They are updated every couple of months and are releasing bonus codes for free deposits.

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