Company Profile
Company Profile
Review summary
General Information & Regulation
Stellar FX is allegedly a forex broker registered in China that claims to provide its clients with over 200 tradable markets with flexible leverage up to 1:600, variable spreads from 0.0 pips and zero commissions on the Webtrader trading platform, as well as a choice of three different live account types and 24/5 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that Stellar FX does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.07/10. Please be aware of the risk.
Market Instruments
Stellar FX advertises that it offers access to a wide variety of options in more than 200 markets, covering shares, indices, forex, energies, agriculture and metals.
Account Types
Stellar FX claims to offer three types of live trading accounts, namely Open Bronze, Open Gold and Open Platinum. The minimum initial deposit amount is €250 for the Open Bronze account, while the other two account types have much higher minimum initial capital requirements of €500 and €1,500 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Open Bronze account can experience leverage of 1:100, the Open Gold account holders have the leverage of 1:300, while only the Open Platinum members can enjoy the maximum leverage of 1:600. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
Stellar FX claims that different account types can enjoy quite different spreads. Specifically, the spread on the Open Bronze account starts from 0.2 pips, the Open Gold account has spreads from 0.1 pips, while only the Open Platinum account holders can enjoy raw spreads from 0.0 pips. All charging no commissions.
Trading Platform Available
The platform available for trading at Stellar FX is a Webtrader. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
From the logos shown at the foot of the home page on Stellar FXs official website, we found that this broker seems to accept numerous means of deposit and withdrawal choices, consisting of Visa, MasterCard, Maestro, Bank Transfer, Wire Transfer and e-wallet. The minimum deposit requirement is €250, while there is no mention of what the minimum withdrawal amount is.
Bonuses
Stellar FX claims to offer a welcome bonus for different account types. In particular, a bonus of 5% for the Open Bronze account, 25% for the Open Gold account and 30% for the Open Platinum account, yet we cannot be sure if the bonus can be withdrawn without any limitation.
In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.
Customer Support
Stellar FX‘s customer support can be reached from Monday to Friday by email: support@stellarfx.io or send messages online to get in touch. However, this broker doesn’t disclose other more direct contact information like telephone numbers or the company address that most brokers offer.
Risk Warning
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
