Our StarTrader review 2025 - 4.8/5

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StarTrader in brief

Our opinion of StarTrader

We particularly liked the low spreads and high leverage of up to 1:500, making it an attractive option for traders looking for cost-effective forex and CFD trading. The availability of MetaTrader 4 and MetaTrader 5 ensures that users have access to industry-standard platforms with advanced charting tools and automated trading capabilities. The broker's diverse range of assets, including forex, stocks, indices, commodities, and cryptocurrencies, provides traders with ample market opportunities.

We would have liked to see copy trading features or social trading integration, as this would make the platform more accessible to beginners or passive investors. Additionally, the lack of Canadian regulatory oversight (IIROC, OSC, BCSC, or ASC) may be a concern for some traders, as it limits local investor protection. While deposits are free, some withdrawal methods come with fees, which may impact cost-sensitive traders.

Who is StarTrader designed for?

StarTrader is best suited for experienced forex and CFD traders looking for tight spreads, high leverage, and a broad asset selection, but it may not be the best fit for those who prioritize copy trading or local regulatory protections.

Let's find out more about our test results.

Security and reliability 4/5

StarTrader is an offshore forex and CFD broker that has been in operation since 2019. Despite being a relatively new player in the industry, it has gained a growing client base, serving thousands of traders worldwide. The broker has positioned itself as a cost-effective and high-leverage option, appealing to both retail and professional traders.

While StarTrader has not won any major industry awards, it has received positive feedback for its tight spreads, asset variety, and MetaTrader platform support. However, the broker’s lack of strong Tier-1 regulation and limited transparency on user statistics raises concerns about its long-term reliability.

Regulation and Security

StarTrader is regulated by several offshore financial authorities, including:

• FSA (Seychelles) – Financial Services Authority of Seychelles
• ASIC (Australia) – Australian Securities and Investments Commission
• FSC (Mauritius) – Financial Services Commission of Mauritius

However, it is not regulated by major Canadian financial authorities such as:

• OSC (Ontario Securities Commission)
• BCSC (British Columbia Securities Commission)
• ASC (Alberta Securities Commission)

Since StarTrader is not registered in Canada, Canadian traders do not have protection under IIROC (Investment Industry Regulatory Organization of Canada) or CIPF (Canadian Investor Protection Fund). This means there is no local recourse if issues arise, which may be a drawback for those looking for strong investor protections.

Risk Management Features

To help traders manage their exposure, StarTrader offers:

• Negative Balance Protection – Ensures traders cannot lose more than their account balance.
• Risk Management Tools – Includes stop-loss, take-profit, and margin call alerts.
• Segregated Client Funds – Keeps client funds separate from company funds for added security.

Market and asset diversity 4/5

StarTrader positions itself as a multi-asset broker with a focus on forex, CFDs, and commodities trading. The broker offers a diverse selection of assets, covering major financial markets, including forex pairs, indices, stocks, commodities, and cryptocurrencies. However, compared to some competitors, the total number of tradable assets is somewhat limited, especially in stock CFDs and ETF offerings.

One of the broker’s strengths is its competitive forex trading environment, featuring low spreads and leverage up to 1:500. However, for traders looking for a broader range of direct stock investments or ETFs, StarTrader may not be the best choice as it primarily focuses on CFD-based trading.

Our opinion on the diversity of StarTrader's offerings

StarTrader provides a strong selection of forex pairs and stock CFDs, making it a good option for traders focused on leveraged trading. However, the limited number of indices, commodities, and cryptocurrencies, as well as the lack of direct ETF trading, slightly reduces its appeal for traders seeking a more diversified portfolio. Compared to brokers with a more extensive stock and ETF selection, StarTrader may not be the first choice for long-term investors, but it remains a solid option for forex and CFD traders.

Platforms and tools 4.7/5

StarTrader offers access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most widely used trading platforms in the industry. While these platforms are reliable and feature-rich, the broker does not offer a proprietary trading platform, which some traders might prefer for additional customization.

MetaTrader 4 (MT4) – Best for forex traders

• Advanced charting with 30+ technical indicators
• Supports automated trading via Expert Advisors (EAs)
• User-friendly for beginners and professionals alike

MetaTrader 5 (MT5) – More advanced features

• Supports a wider range of assets, including stock CFDs
• Depth of Market (DOM) feature for better order execution insight
• 38+ built-in indicators and more timeframes than MT4

Trading Tools & Decision Aids

Risk Management Features – Stop-loss, take-profit, negative balance protection
Mobile Trading – Available on iOS and Android for trading on the go
Multiple Order Types – Market orders, pending orders, trailing stops
Trading Signals – Access to signals via the MT4/MT5 community
VPS Hosting – For uninterrupted automated trading (availability varies)

Fees, spreads and commissions 4.5/5

StarTrader is positioned as a low-cost forex and CFD broker, offering tight spreads starting from 0.1 pips on major forex pairs. It operates with a commission-free model on Standard accounts, while ECN account holders are charged a commission per trade but benefit from lower spreads. Compared to competitors, StarTrader’s forex spreads are highly competitive, but its stock CFD spreads and fees on withdrawals may be less favourable.

Other Fees

• Deposit Fees: No fees on deposits
• Withdrawal Fees: Fees apply (varies by method)
• Overnight Swap Fees: Charged on leveraged positions held overnight
• Inactivity Fees: Charged after 6 months of inactivity

How is StarTrader's price positioning?

StarTrader offers highly competitive spreads on forex trading, especially for EUR/USD and GBP/USD pairs, making it attractive for currency traders. However, withdrawal fees and inactivity fees are a downside compared to some competitors that offer free withdrawals. The spreads on stock CFDs and crypto trading are slightly above the market average, which may impact cost-conscious traders in these asset classes. Overall, StarTrader provides a cost-effective forex trading experience but may not be the lowest-cost option for stock or crypto CFD trading.

Customer reviews 4.3/5

StarTrader has a Trustpilot rating of 4.3/5 based on 472 reviews. Most users highlight its tight spreads, fast execution, and user-friendly platform, while some mention withdrawal fees and limited educational resources as areas for improvement. Below are three recent customer reviews from Canadian traders.

Here are some recent testimonials from Canadian users:

• David M (Toronto, ON – January 15, 2025): "I’ve been using StarTrader for about six months, and the spreads on forex pairs are some of the lowest I’ve seen. Execution is really fast, especially on MT5, and I haven’t experienced slippage so far. The only downside is the withdrawal process—it took about four business days to receive my funds, and there was a small fee. Otherwise, a solid broker for forex trading."
• Melissa R (Vancouver, BC – February 3, 2024): "The trading experience itself is smooth, and I like that they offer both MT4 and MT5. However, I wish they had more educational resources for beginners. Also, I wasn’t thrilled about the inactivity fee—I took a break for a few months, and when I came back, I noticed a small charge on my account. It’s a decent broker but could be better for long-term traders."
• Alex P. (Montreal, QC – March 10, 2025): "Great broker for forex traders! I switched to StarTrader after dealing with high spreads on my previous platform, and I immediately noticed the difference. Deposits were processed instantly, and I got access to leverage up to 1:500, which fits my trading style. I’ve made a few withdrawals, and while there are fees, they were clearly outlined, so no surprises. Would recommend it for active traders."

How is StarTrader positioned in relation to its competitors?

Conclusion of our review on StarTrader

StarTrader offers a competitive trading environment with access to forex, stocks, and CFD markets, making it a strong option for traders who prefer high leverage and low spreads. The broker's support for MetaTrader 4 and MetaTrader 5 ensures traders have access to industry-standard tools, but the lack of copy trading features and Canadian regulatory oversight may be a drawback for some investors.

Compared to its competitors, StarTrader excels in forex trading conditions but may not be the best choice for traders looking for direct stock investing, ETFs, or a Canadian-regulated platform. While it offers a low minimum deposit requirement, withdrawal fees and inactivity charges may be a concern for cost-sensitive traders.

Before opening a StarTrader account, take the time to compare the best brokers in Canada.

What types of accounts are available with StarTrader in Canada?

StarTrader offers multiple account types designed to accommodate different trading styles, from beginners to professional traders. Below is a comparison of the available account types, including their key characteristics.

Standard Account

The Standard Account is ideal for new and intermediate traders looking for a commission-free trading experience. This account type offers spreads from 1.0 pips and provides access to all available trading assets, including forex, stocks (CFDs), indices, commodities, and cryptocurrencies. With a minimum deposit of $50, it is accessible to most traders and allows leverage up to 1:500.

Raw Spread Account

The Raw Spread Account is best suited for experienced traders or scalpers who prefer lower spreads and direct market access. This account type offers spreads starting from 0.0 pips, but it comes with a commission of $3 per lot per side. It also provides the same leverage (1:500) and access to all available assets but may be more suitable for high-volume traders.

Islamic Account

The Islamic Account, also known as a Swap-Free Account, is designed for traders who follow Sharia-compliant trading principles. It is similar to the Standard Account but does not charge overnight swap fees. Instead, a slightly higher spread may apply to compensate for the absence of swaps. This account is available to Muslim traders upon request and offers the same trading conditions as other accounts.

Demo Account

The Demo Account allows traders to practice in a risk-free environment using virtual funds. It replicates real market conditions and gives access to all tradable assets on MetaTrader 4 and MetaTrader 5. The demo account can be used for an unlimited duration, making it a useful tool for beginners or those testing new strategies.

Deposits and withdrawals at StarTrader: How does it work?

StarTrader offers a good selection of deposit and withdrawal methods, covering traditional banking, e-wallets, and cryptocurrencies. Deposits are processed instantly for most methods, except for bank transfers, which take a few business days. While deposits are mostly free, withdrawal fees apply for some methods, making it less competitive than brokers offering free withdrawals.

Compared to competitors that provide local Canadian payment options like Interac, StarTrader does not support Canadian-specific methods, which could be a drawback for some traders. However, fast crypto and e-wallet withdrawals make it a strong option for traders who prioritize quick access to funds. Withdrawal fees and longer processing times for bank transfers may be a downside for traders who prefer traditional payment methods.

Does StarTrader offer copy trading?

StarTrader does not currently offer built-in copy trading or social trading features. Unlike some brokers that integrate platforms like ZuluTrade, Myfxbook AutoTrade, or MetaTrader Signals, StarTrader focuses on manual and algorithmic trading through MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

However, traders who wish to engage in copy trading can use third-party services that are compatible with MetaTrader, but this requires manual integration and is not as seamless as brokers that offer native copy trading platforms.

Since StarTrader does not provide a built-in copy trading solution, there are no direct additional fees for this service. However, if traders choose to use third-party signal providers or copy trading services, those services may charge a subscription fee or commission per trade.

What is the tax treatment of income generated by StarTrader?

Income generated by trading via StarTrader in Canada is subject to taxation under the rules set by the Canada Revenue Agency (CRA). The tax treatment depends on whether trading profits are classified as capital gains or business income.

Capital Gains vs. Business Income

• Capital Gains: If you trade occasionally and hold assets for a longer period, the CRA considers your profits as capital gains, and only 50% of the profit is taxable.
• Business Income: If you trade frequently, use high leverage, or rely on trading as your primary income, the CRA may classify it as business income, meaning 100% of the profit is taxable.

Tax Treatment Based on Account Type

• Tax-Free Accounts: If trading is done inside a Tax-Free Savings Account (TFSA), all profits are completely tax-free. However, actively trading inside a TFSA could cause the CRA to reclassify it as business income, leading to taxation.
• Registered Retirement Savings Plan (RRSP): Gains inside an RRSP are tax-deferred until withdrawal, meaning you only pay tax when withdrawing funds.
• Non-Registered Accounts: All profits from trading in a non-registered account are subject to capital gains or business income taxation.

How to Declare Trading Income in Canada

• Capital Gains: Reported on Schedule 3 of the T1 General Tax Return under "Capital Gains and Losses."
• Business Income: Declared as self-employment income on Form T2125 (Statement of Business or Professional Activities).
• Foreign Investments: If your total holdings in a foreign brokerage exceed CAD $100,000, you must file Form T1135 (Foreign Income Verification Statement) with the CRA.

Tax Withholding and Foreign Trading Considerations

• Since StarTrader is not a Canadian-registered broker, it does not withhold taxes on profits. It is the trader’s responsibility to report and pay taxes to the CRA.
• If trading foreign assets, dividends and interest may be subject to foreign withholding tax, which could be eligible for a foreign tax credit.

Points to remember while filing your taxes

• Use a TFSA for tax-free gains (CFDs and forex trading may not be eligible).
• Hold investments longer to benefit from capital gains tax treatment instead of business income taxation.
• Keep accurate records of all trades, including entry/exit prices, commissions, and exchange rates for forex transactions.
• Consult a tax professional to ensure compliance, especially if trading frequently or using leverage.

Contact: How do I contact StarTrader customer service?

FAQs

Nishadh Mohammed

Nishadh Mohammed is a seasoned news editor and financial writer, working with HelloSafe since May 2023. Nishadh has developed expertise in financial markets, insurance, and investment products, with a deep understanding of the Canadian financial landscape. He has honed his SEO skills and content marketing strategies while writing for Canadian publishing houses. Armed with a master's in Business Analytics and extensive journalistic experience, Nishadh uniquely combines data proficiency and thorough research to deliver comprehensive and accessible information.