ForexStart is an online retail trading broker that provides traders with the intuitive MetaTrader 4 trading platforms for trading over 45 currency pairs, CFDs, binary options, cryptocurrency, and precious metals. Traders are given access to multiple live trading account options as well as a demo account to practice trading online.
ForexStart Review, Pros & Cons
- Multiple trading platforms
- A range of trading tools
- A selection of educational materials
- Different financial markets
- Unregulated broker
- No MetaTrader 5 or cTrader platforms
- Not the lowest commissions
- Not the tightest spreads
- No USA clients
- No live chat support
In this detailed ForexStart review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Operating as a representative of Tim Group Limited, ForexStart is an online trading broker that offers around-the-clock trade in the financial markets in real-time via the internet or telephone desk. Traders are provided with the MT4 platform and some trading and learning tools, while a client support team is on hand to assist them. Over the years, the broker has been honored with multiple industry awards, including the ALI FX Best Services 2010, ALI FX Best Web Trader Platform 2011, and Best Video Education Center 2012, amongst others.
There is no regulatory information on the broker’s website at the moment. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
The broker offers its services to residents of different countries and jurisdictions where the use of such services would not be contrary to local laws or regulations.
Some ForexStart features and products mentioned within this ForexStart review may not be available to traders from certain countries because of legal restrictions.
The broker provides traders with the sophisticated MetaTrader 4 trading platform for trading of the offered assets. The platform has a user-friendly interface and one-click trading functionality. It is packed with a range of analytical tools and supports automated trading using expert advisors. The broker makes the MT4 trading platform available as a desktop application for Windows and Mac computers, a WebTrader, and a mobile trading app that is compatible with Android and iOS devices.
There is also the MobiusTrader 7 trading platform, which is an intuitive trading platform that is packed with all the necessary tools for a seamless trading experience. These include interactive charts, a friendly interface, and support for all types of execution. The platform is available in desktop, web, and mobile versions.
ForexStart Trading Tools
The broker’s website is packed with a range of useful trading tools that are geared towards enhancing the trading experience of clients and ensuring they get the best out of their trades. These include a virtual private server (VPS), multiple technical indicators, and more.
Traders can also benefit from a selection of educational resources that are designed to help improve their trading expertise whilst keeping them in the know on some of the factors that can move the financial markets. Some of the educational materials include market news, webinars, a trading dictionary, and an FAQ section that offers instant answers to clients’ most common questions.
The broker offers the following trading instruments: Forex, CFDs, binary options, cryptocurrency, and precious metals.
ForexStart Accounts & Fees
Traders are allowed to open either a Cent Account or Dollar Account to start trading with the broker. Demo accounts are also provided for practice purposes.
As broker fees can vary and change, there may be additional fees that are not listed in this ForexStart review. It is imperative to ensure that you check and understand all of the latest information before you open a ForexStart account for online trading.
ForexStart offers a knowledgeable client support team that can be reached via telephone and email. The broker’s website is also available in multiple languages to reach a wider audience.
ForexStart Deposit & Withdrawal
Traders can deposit and withdraw funds using any of the following payment methods:
- Bank transfers
- Credit/Debits Cards
- Electronic payment processors
ForexStart Account Opening
To open a live trading account, click on the ‘Open an Account’ button on the broker’s website and fill in the registration form, entering the relevant details and checking the dialogue boxes.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Founded in 2007, ForexStart is a multiple award-winning trading broker that makes it possible for clients to trade several financial assets using the MetaTrader 4 trading platform. There is a wide range of trading and learning tools, and the client support team is always available to help clients. However, the broker is not unregulated which can pose as a red flag for some potential traders.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.