StarLink FX – The ostensible online trader StarLink FX says it is a provider of financial services. According to the provider’s website, customers can set up an account on the website and make profitable investments with the help of the company.
According to StarLink FX, different account types are available for selection after registration, which are designed for different trading variants.
Table of contents
- StarLink FX – Trading Broker Experience
- StarLink FX Website
- Contact information of StarLink FX
- StarLink FX Authorisation
- Alerts from regulators about StarLink FX
- Online trading advice
- Lawyers advise on disputes
In addition to the question of whether StarLink FX offers an adequate service, it is important to deal with the basics of successful online trading. We will also take a position on how the StarLink FX platform should be classified compared to other investment opportunities.
Furthermore, we will assist investors and support them with detailed questions and problems in connection with StarLink FX.
StarLink FX – Trading Broker Experience
StarLink FX advertises a good overview of different financial markets and individually suitable plans for the accounts created and the investments made through them. The company has been awarded several prizes for its excellent services and has an experienced team.
StarLink FX on the web
The website of StarLink FX is available in English and can be accessed at https://starlinkfx.com/.
Operator and Trademark
The name of the online presence or the platform or the offer is not necessarily identical with the operating company. In the past, it was not uncommon for operators to operate in parallel with different trademarks.
Furthermore, it is common practice for some providers to shut down the websites of incriminated trademarks and return to the market some time later using a different trademark. For this reason, when researching news and statements about a provider, it is advisable to always note the operating company in addition to the trademark.
The respective data can be found either in the imprint or often also in the footer of a website. On the website of StarLink FX, no difference between a trademark and an operating company could be found at the time of observation.
Some service providers use their many years of practical experience to convey trustworthiness. Nevertheless, such statements are very often contradicted by the registration date of the domain. Consequently, it is necessary to check who the domain owner is and when the domain was registered. StarLink FX does not specify a concrete year of foundation. We retrieved the data for StarLink FX on 15.03.2022 with the following result:
- Domain name: starlinkfx.com
- Registry Domain ID: 2635159689_DOMAIN_COM-VRSN
- Registrar WHOIS Server: whois.namecheap.com
- Registrar URL: http://www.namecheap.com
- Creation Date: 2021-08-20T11:52:07.00Z
- Registrar Abuse Contact Email: firstname.lastname@example.org
- Registrar Abuse Contact Phone: +1.9854014545
In the Federal Republic of Germany, according to §5 of the German Telemedia Act (TMG), there are general obligations to provide information and mandatory details for the imprint. Accordingly, this obligation for “provider identification” applies to all commercially operated Internet presences.
This is because this data is intended to inform the user of an online presence who he or she is dealing with. Last but not least, the address of the website operator plays a role in the event that legal claims are to be enforced against him.
In this context, it is also important to note that the obligation to maintain an imprint also applies to foreign service providers who conduct their business activities in this country. At the time of March 2022, there was no imprint on the website of StarLink FX.
According to §6 of the German Media State Treaty (MDStV), the name of the person responsible for the content of the website must be mentioned in the imprint. This is usually a member of the provider’s management board. Identifying the responsible persons by name is not only an obligation, but also a sign of transparency.
As of March 2022, there is no information on the persons responsible for the content of StarLink FX’s website.
StarLink FX contact information
At the time of writing, the following information was available on the StarLink FX website:
- StarLink FX Email Contact: email@example.com
- Phone number of StarLink FX: +442037693655
- StarLink FX postal address: not specified
StarLink FX authorisation
The existence of a valid authorisation from an official European financial supervisory authority can be an important indicator of whether a company is a reputable service provider. This is because a company has to make a large financial outlay to obtain a licence.
However, it does not automatically have to be fraud if a broker refrains from making statements about its authorisation or its own regulatory status. The following financial supervisory authorities, among others, are responsible for issuing licences and supervising financial service providers such as StarLink FX:
- Commissione Nazionale per le Società e la Borsa (CONSOB, Italy)
- Federal Financial Supervisory Authority (BaFin, Germany)
- Commission de Surveillance du Secteur Financier (CSSF, Luxembourg)
No information on regulatory licensing could be found on StarLink FX’s website as of March 2022. Interested private investors can discuss what this means in a dialogue with a lawyer from our law firm.
Warnings from regulators about StarLink FX
In the time around the writing of this article, no regulatory warnings regarding StarLink FX have yet been identified.
Before you start trading with StarLink FX and others – trading tips
Trading via online platforms such as StarLink FX is the extension of traditional trading in financial instruments into the World Wide Web. Here, as there, financiers act with the aim of generating profits through the purchase and sale of assets. Trading is no longer limited to shares.
In fact, traders can also choose from the following options, for example:
- Precious metals
- CFD Trading
- Forex Trading
- Bank Deposits
- listed index funds
- Crypto Trading with Bitcoins and Altcoins, for example Cardano
Online trading is done through intermediaries such as online brokers (like StarLink FX) or banking institutions that provide their clients with a professional trading software solution.
First and foremost, the rapid technical developments of recent years are the reason why online trading is now time-saving and convenient, and thus as accepted as it is popular.
Advantages of online trading
Digitalisation has also had a strong influence on the financial world, especially with regard to trading such as at StarLink FX. Because of the technological possibilities, trading has increased particularly significantly in speed.
Whereas investors and traders once had to place their orders by telephone, fax or post, this is now possible at the click of a mouse and at a fraction of the cost. Factors such as the term and type of trade, pricing and quantities or the key account data no longer have to be agreed personally between the StarLink FX broker and its customers.
At the end of the day, the opportunity to trade online has brought about numerous conveniences:
- Profits can be made even with a small investment.
- The speed with which trades can be processed has increased noticeably.
- The risk of losses due to gaps is decreasing.
- The range of tradable assets is broader and deeper.
- Transaction costs have dropped significantly, as personal advice on the phone is no longer necessary.
- A large number of tools can be applied automatically and immediately.
- The trading platform executes the booked orders, you only need an internet connection.
- Training opportunities for online trading, knowledge pools, analyses or trading courses are provided as standard in many places.
- Online traders can access several tools and use a wide variety of indicators.
Furthermore, online trading not only brings plus points with regard to the uncomplicated use of the trading platform. Above all, the analysis options, indicators and the various tools provide the investor with significantly more comfort.
The times when you had to draw your own charts or make your own calculations are over. Nowadays, online trading platforms offer their customers a wide variety of order types that online traders can execute independently with a day trading broker of their choice.
Modern assets: crypto trading with digital currencies
But it is not only trading as such that has been enormously influenced by digitalisation. For the advancing technologisation has provided online traders with a new field of activity: trading with digital assets. The most popular cryptocurrencies include Bitcoin and Ethereum.
Bitcoin was the first cryptocurrency ever, which is why all other digital currencies are called “alt-coins”, i.e. alternative coins. There are now a large number of tradable crypto assets and the landscape is extremely volatile. As a result, fresh coins are constantly entering the market and many disappear just as quickly as they appeared.
For online traders, this harbours opportunities as well as risks, which, in view of the constant ups and downs, are nevertheless significantly increased compared to traditional investments. For investors, freshly issued cryptocurrencies are basically like a game at the roulette table. With a little luck, the stake can be multiplied significantly.
However, the possibility of losing all the money is also extremely high. Therefore, it might be a better decision for cautious traders to focus on the strongest crypto assets in terms of market value, which have already been traded for some time and have a relatively large market capitalisation.
The alternatives to Bitcoin and Ethereum
Apart from Bitcoin and Ethereum, the Binance Coin, Solana, Cardano or Ripple should be mentioned here. Especially Cardano and Solana can be considered more modern and future-oriented compared to Bitcoin and Ethereum.
While the former are the subject of discussion mainly due to their energy-intensive “proof of work” procedure, the latter rely on the less energy-intensive “proof of stake” mechanism. In addition, the blockchain-based projects Cardano and Solana enable the use of so-called smart contracts.
Furthermore, additional projects are emerging in the respective ecosystems, such as Solanart, a marketplace for so-called “non-fungible tokens”, or NFT for short. These can be used in decentralised finance (“DeFi”), for example.
There, they help to implement security mechanisms that guarantee the uniqueness of transactions and the correctness of each submitted order. Ultimately, investors will find an immensely wide range of cryptocurrencies to invest in.
However, crypto trading is especially recommended for investors who are particularly risk-averse. In addition, the following also applies to crypto trading: be vigilant when choosing a provider. Unfortunately, there are many documented cases of fraud and cybercrime in which crypto exchanges have played a significant role.
Risks in online trading
Not all that glitters is gold, this statement also applies to online trading and offers from brokerage firms (such as StarLink FX). Consequently, apart from the advantages, there are also a number of disadvantages that interested investors should include in their considerations:
- Enormous losses can be expected if wrong decisions are made.
- The emergence of fraudulent trading portals has led to immense risks of loss.
- Investors should keep a constant eye on price trends.
- Investors should already be experienced in trading and pursue resilient strategies.
- Compared to conventional trading, the process is rather hasty.
Especially the risky day trading is not suitable for investors who deal with the subject area of trading for the first time. This is because the danger of not correctly assessing the development of prices is immense, and corrections are difficult because of the time pressure.
Therefore, this type of trading is rather worthwhile for particularly experienced or very risk-averse investors. If you belong to this group, day trading is an option for achieving quick results. In addition, one benefits, for example, from the elimination of fees for holding positions overnight.
Because such financing costs should also be included in an overall consideration of a financial investment. Furthermore, one is literally spared the rude awakening in the morning if there were rapid and violent price changes. Such “gaps” arise quickly due to negative reports about a company.
On the other hand, one quickly sees successes if one can report a surplus at the end of a trading day. It is also relevant for day traders to compare the trading fees of the different brokers. At this point, it can be worthwhile to opt for a flat rate.
This pays off especially if you trade at a higher frequency and individually invoiced order fees would significantly reduce your earnings.
Identify risks and dangers
In order not to unnecessarily increase the risks and dangers of online trading, you should ask yourself which service provider you want to trade with on the markets. From the experience of our law firm, some questions have emerged which help to identify possible risks. With reference to the example of StarLink FX, these would be as follows:
- Is StarLink FX controlled by a European financial supervisory authority and is the provider subject to official supervision?
- Has contact with StarLink FX been established on the basis of an unsolicited telephone call?
- Are there any warnings from lawyers or law firms serving clients who have suffered losses in connection with StarLink FX?
- Is there an imprint on the StarLink FX website and can credible information about the company’s location be found?
- What experiences have other investors previously had with StarLink FX, what is the opinion in forums?
- Can I find official warnings about StarLink FX?
- Does StarLink FX promise unusually high profits and hide or downplay the dangers?
What can be done in case of losses?
As soon as you fear that you have been defrauded in online trading, it is advisable to block additional payments immediately. This applies especially to the circumstance that the trader demands additional payments to compensate for deficits. Furthermore, one should attempt to recover the lost capital.
In this context, affected investors can seek investor protection and contact the lawyers of our law firm. Our law firm examines both civil and criminal law options as well as possible claims for damages against the company and against involved payment service providers such as banking institutions.
“A private investor who loses money in online trading is truly not an isolated case. Numerous private investors are misled by the professional appearance of the companies and do not realise soon enough that they are not responsible for their loss.”
Our advice is therefore not to despair, but to act swiftly and actively. Because the prospect of recovering the lost capital is usually greater than the aggrieved investors assume. Would you like to talk to one of our lawyers about StarLink FX? Then click here to go directly to our contact area.