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North Star Trades

China|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://northstartrades.com/

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Contact

support@northstartrades.com
https://northstartrades.com/

Licenses

No valid regulatory information, please be aware of the risk!

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Warning: Low score, please stay away!
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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North Star Trades · Company Summary

Note: North Star Tradess official site - https://northstartrades.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Risk Warning

Online trading involves significant 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.

General Information

North Star Trades Review Summary
Founded 2022
Registered Country/Region China
Regulation No Regulation
Market Instruments Currency pairs and CFDs on precious metals, indices, energy commodities, stocks, ETFs and crypto coins
Demo Account Unavailable
Leverage 1:400
EUR/ USD Spreads 1 pip (Platinum account)
Trading Platforms MT4
Minimum Deposit 250 EUR
Customer Support Email

What is North Star Trades?

North Star Trades, based in China, currently operates without any valid regulation or oversight from a government or financial authority. Moreover, the official website of North Star Trades is inaccessible, which may imply potential issues, such as the platform absconding.

Despite the aforementioned risks, North Star Trades offers a diverse range of trading instruments across various asset classes. Clients can choose from three live account types, each with its own specific features.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros & Cons
Pros Cons
• A range of trading instruments • Website is unavailable
• MT4 supported • Not regulated
• Acceptable minimum deposit • Limited educational resources
• No demo accounts
Limited communication channels
High minimum deposit

North Star Trades Alternative Brokers

There are many alternative brokers to North Star Trades depending on the specific needs and preferences of the trader. Some popular options include:

  • LegacyFX - A leading brokerage firm providing comprehensive trading solutions across a wide range of financial instruments, including forex, stocks, commodities, and indices.

  • XM - A flexible trading platform with low spreads and a range of trading instruments.

  • Tickmill- A reliable and reputable trading broker with competitive spreads and a wide range of trading instruments, making it a good choice for experienced traders.

Is North Star Trades Safe or Scam?

North Star Trades currently has no valid regulation, which means that there is no government or financial authority oversighting their operations. Besides, the official website of North Star Trades is inaccessible, indicating that the trading platform may have absconded. These make investing with them risky.

If you are considering investing with North Star Trades, it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated brokers to ensure your funds are protected.

Market Instruments

North Star Trades offers a variety of trading instruments across different asset classes, including currency pairs and CFDs on precious metals, indices, energy commodities, stocks, ETFs and crypto coins.

  • Currency Pairs:

North Star Trades allows trading in various currency pairs, including major pairs (e.g., EUR/USD, GBP/USD) and minor/exotic pairs (e.g., USD/TRY, NZD/JPY). Currency trading involves speculating on the exchange rate fluctuations between two currencies.

  • CFDs on Precious Metals:

With North Star Trades, you can trade Contracts for Difference on precious metals like gold, silver, platinum, and palladium. CFDs enable traders to speculate on the price movement of these metals without owning them physically.

  • Indices:

North Star Trades offers CFD trading on popular stock market indices, such as the S&P 500, Dow Jones Industrial Average, or FTSE 100. These indices represent the overall performance of a group of stocks, allowing investors to trade on the broader market sentiment.

  • Energy Commodities:

Trading CFDs on energy commodities, including crude oil, natural gas, and heating oil, is available with North Star Trades. These commodities are crucial in global energy markets, and their prices can be influenced by various factors.

  • Stocks:

North Star Trades provides trading opportunities in a wide range of individual stocks from global markets. Traders can speculate on the price movements of companies like Apple, Amazon, Microsoft, or Google, among others.

  • ETFs:

Exchange-Traded Funds (ETFs) are investment funds traded on an exchange. North Star Trades allows trading CFDs on various ETFs, giving investors exposure to diversified portfolios of underlying assets, such as stocks, bonds, or commodities.

  • Crypto Coins:

North Star Trades offers trading in different cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and many others. Crypto trading involves speculating on the price movements of digital currencies within a decentralized market.

Accounts

North Star Trades offers three live account types: Silver, Gold, and Platinum. Here's a brief description of each:

  • Silver Account:

The Silver account is typically the basic account option offered by North Star Trades. It may provide access to a range of trading instruments and basic features, suitable for traders who are starting out or have minimal trading experience.

  • Gold Account:

The Gold account is usually a more advanced account option offered by North Star Trades. This includes access to a wider range of trading instruments, lower trading fees, personalized customer support, advanced trading tools, research materials, and additional educational resources. The Gold account is often aimed at traders with a higher level of experience and expertise.

  • Platinum Account:

The Platinum account is typically the top-tier or premium account option offered by North Star Trades. It is designed for experienced and professional traders who require advanced trading features and benefits. The Platinum account offers the most extensive range of trading instruments, the lowest trading fees, priority customer support, exclusive market insights and analysis, advanced trading platforms, and other premium features.

Leverage

North Star Trades offers a maximum leverage of 1:400. Leverage is a common feature in the financial trading industry that allows traders to magnify their potential gains or losses by borrowing funds from their brokerage. In simple terms, it allows traders to control larger positions in the market with a relatively smaller amount of capital.

A leverage ratio of 1:400 means that for every unit of capital a trader has, they can trade with 400 times that amount. For example, if a trader has $1,000 in their account, the leverage of 1:400 would allow them to place trades equivalent to $400,000 in value. This potential amplification of trading power can be appealing to traders looking to maximize their exposure to the market and potentially increase their profits.

Leverage

Spreads & Commissions

North Star Trades offers different types of accounts, each with its own spreads.

In the Bronze (Basic) account, the EUR/USD spread is 3 pips. This spread represents the difference between the bid and ask price of the currency pair and serves as a cost for executing trades. A spread of 3 pips is considered relatively high compared to the industry average, which means that traders using this account may have a higher cost associated with their trades.

The Gold account, on the other hand, offers 2 pips spread for the EUR/USD currency pair. With pips spread, traders using the Gold account would have a lower cost for executing trades compared to the Bronze account.

The Platinum account, the highest tier offered by North Star Trades, boasts a EUR/USD cost of trade of only 1 pip. This indicates that traders using this account can benefit from a tighter spread and potentially lower trading costs. A 1 pip spread is generally considered favorable, as it implies a smaller difference between the bid and ask price, allowing traders to potentially capture more price movements in their favor.

Besides, due to the unavailable website, there is no access to find out the commission of North Star Trades.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker EUR/USD Spread Commission
North Star Trades 1 pip (Platinum account) N/A
LegacyFX 0.2 pips None
XM 0.1 pips $3.5 per lot
Tickmill 0.1 pips $2 per lot

Note: The information presented in this table may be subject to change and it is always recommended to check with the broker's official website for the latest information on spreads and commissions.

Trading Platforms

North Star Trades provides its clients with the popular trading platform MetaTrader 4, also known as MT4. MT4 is widely recognized and widely used by traders around the world for its comprehensive features and user-friendly interface. It offers a range of tools and functionalities that cater to both beginner and experienced traders alike.

One of the key advantages of the MT4 platform is its advanced charting capabilities. Traders can access various chart types, timeframes, and technical indicators to analyze price movements and make informed trading decisions. The platform also supports the use of custom indicators and automated trading strategies, allowing traders to implement their own trading systems or utilize existing ones.

MT4

See the trading platform comparison table below:

Broker Trading Platform
North Star Trades MT4
LegacyFX Trading software
XM MT4, MT5
Tickmill MT4, MT5

Customer Service

Email: support@northstartrades.com

Conclusion

In conclusion, North Star Trades is a trading platform that offers a range of services to its clients. The platform provides access to various financial markets, allowing traders to diversify their portfolios and capitalize on different trading opportunities. With its user-friendly interface and advanced charting tools, North Star Trades's trading platform, MT4, caters to the needs of both beginner and advanced traders.

However, North Star Trades has many problems. First, it doesn‘t have regulation. Second, it is because the official website of North Star Trades is inaccessible that the relevant information doesn’t be provided, which makes trade not transparent enough. Therefore, traders should verify the regulatory status of North Star Trades or any broker they choose to work with to ensure compliance with industry standards and regulatory requirements.

Frequently Asked Questions (FAQs)

Frequently Asked Questions (FAQs)
Q 1: Is North Star Trades regulated?
A 1: No. It has been verified that this broker currently has no valid regulation.
Q 2: How can I contact the customer support team at North Star Trades?
A 2: You can contact via email, support@northstartrades.com.
Q 3: Does North Star Trades offer demo accounts?
A 3: No.
Q 4: Does North Star Trades offer the industry leading MT4 & MT5?
A 4: Yes. It supports MT4.
Q 5: What is the minimum deposit for North Star Trades?
A 5: The minimum initial deposit to open an account is 250 EUR.
Q 6: Is North Star Trades a good broker for beginners?
A 6: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website.

Broker Information

Company Name

North Star Trades

Company Abbreviation

North Star Trades

Regulatory Status

No Regulation

Platform registered country and region

China

Phone of the company

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Customer Service Email Address
  • support@northstartrades.com

Company Summary

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