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OptionStarsGlobal
Rating:
Binary Option Programs Award
Min. Deposit
$250
Min. Investment
N/A
Regulated Broker
No

OptionStarsGlobal Broker Review

  1. OptionStarsGlobal

    OptionStarsGlobal is an unregulated forex and CFD broker operating in the UK.

    The Financial Conduct Authority (FCA) has issued a statement warning worldwide investors that OptionStarsGlobal is not authorized by the FCA and therefore is not to be trusted to be operating legally in the UK.

    So, does this mean OptionStarsGlobal is a scam? Should South African traders stay away from this CFD broker?

    Read our full review and final conclusion to find out all you need to know.

     

    The 3 Account Types

    OptionStarsGlobal offers South African traders 3 different trading accounts to choose from. The immediate problem when looking at these accounts is the massive minimum deposit required to open the first, so-called “Bronze Account”. The minimum deposit is $25,000, which is a ridiculous amount to require traders to deposit just to begin trading, and especially for complete beginners. No beginner would even consider depositing such a high amount.

    When browsing through the rest of their site, OptionStarsGlobal claim in different areas that the minimum deposit is $250.

    Tip: Trade with IQ Option instead, the best licensed broker for South African traders with a minimum deposit of only $10!

    The second problem we noticed is that the accounts listed have no information on trading conditions like spread, leverage or the minimum investment amount required to open a simple trade. This is all very important information South African traders need to know – not only when picking an account, but picking a broker to trade with.

    Tip: Check out our list of the best forex and CFD brokers for South African traders, where we compare all their trading conditions so you can make a better and more informed choice.

    All OptionStarsGlobal accounts are detailed below, along with the limited information provided for each account.

    Bronze Account

    • $25,000 – $49,000 minimum deposit
    • 1 trading strategy
    • Weekly market reviews
    • Introduction video courses

    Silver Account

    • $50,000 – $99,000 minimum deposit
    • 3 trading strategies
    • Weekly market reviews
    • Introduction video courses
    • Advanced video courses (+)
    • Daily market reviews (+)
    • Senior account manager (+) 

    Gold Account

    • $100,000 – $250,000 minimum deposit
    • 5 trading strategies
    • Weekly market reviews
    • Introduction video courses
    • Advanced video courses
    • Daily market reviews
    • Dedicated account manager (+)
    • Same-day withdrawals (+)
    • Weekly 1-on-1 trading sessions (+)

    Trading Platform & Assets

    OptionStarsGlobal gives South African investors the ability to trade CFDs in major financial markets, which include forex, commodities, stocks and indices.

    Their official website is incredibly vague, which means we could not gather more information on the exact assets or trading conditions available – as mentioned above. This lack of basic transparency is also a massive red flag when it comes to any broker and a sign the company should not be trusted.

    As for the trading platform, South African traders will have access to a simple, user-friendly web-based platform. You can access this directly from your web browser, which means it requires no unwanted downloads or installations onto your device.

    OptionStarsGlobal does not provide South African investors access to the infamous MetaTrader (MT4) platform, which is a big disappointment since this is the most popular and recognizable online trading platform.

    Customer Support

    South African users can contact the OptionStarsGlobal customer support team through the email provided on their website. They also provide a UK phone number, but no South African number.

    If you prefer to not contact OptionStarsGlobal directly, you can always take a look at their FAQ section on their website that covers all the basic questions.

    Company Info & Payment Methods

    OptionStarsGlobal accepts several payment methods, which include bank wire transfer, credit card (Visa, Mastercard, Maestro), Skrill, Neteller, Diners Club and Paysafe Card.

    Warning: South African traders are not encouraged to deposit any money with this broker.

    There was no information on their website regarding the company that owns and operates OptionStarsGlobal, which is another red flag that proves how much this company lacks any basic transparency.

    Conclusion: Is OptionStarsGlobal a Scam?

    Through our review of this CFD broker and taking into consideration the explicit warning the FCA made against this company, we have confidently concluded that OptionStarsGlobal is a scam that South African investors should stay away from at all costs.  

    The company is not regulated under any entity, lack basic transparency and information consistency throughout their website and has an official warning issued against them from the FCA themselves.

    Instead of wasting your time with another scam in the industry, trade directly with the best, licensed broker for South African traders – IQ Option!

    To find the best broker or trading software to fit your needs, you can also check out our top lists below: 

    Best Forex and CFD Brokers for South African Traders

    Best Automated Trading Robots for South African Traders

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