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Contract reading

What STARTRADER legally published, but does not want you to read

Every clause below is published by STARTRADER itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: STARTRADER Limited

sole discretionprofit voidinghidden feebonus lockcomplaintscopy tradingdeemed acceptancedefault evententity mismatchinsolvency

STARTRADER advertises negative balance protection and $30,000,000 of Lloyd's insurance. Its contract makes the first discretionary, and the insurance certificate names a different STARTRADER company. The agreement also lets STARTRADER cancel profits on trading it finds suspicious and walk away from open trades after a long list of defaults. Check which of its three client agreements is yours before you deposit.

Back to STARTRADER

Contract risk

Money at risk
7.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
4
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
20
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
20
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
7

How the 20 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical4
Warning12
Notice4

section 31 of 33is where the deepest clause sits, 94% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

2 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical$1000In the contract. Jump to the clause this comes from.Negative balance protection is a discretionary promiseCritical70%Bonus requirement. Jump to the clause this comes from.Bonus profits can be deducted for trading one product3.5%Fee you were not shown. Jump to the clause this comes from.Overnight financing includes a 3.5% yearly STARTRADER markup10 daysDocument deadline. Jump to the clause this comes from.Ten days to answer a document request, or default

What the documents say

20 clauses worth knowing about, worst first, each quoted from STARTRADER's own files

01

Every STARTRADER account card advertises negative balance protection, which should mean a loss never leaves you owing money. The contract only says STARTRADER may credit a negative balance at its discretion, after you report it, and not in abnormal markets.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

Price gaps and news spikes are when accounts fall below zero, and that is exactly when the contract switches the protection off. The risk disclosure then makes you liable for the deficit, and on a bonus account STARTRADER can refuse to clear one above $1,000.

Exhibit 1CriticalHarder than usual$1000

STARTRADER will evaluate the inquiry and at its discretion, may credit the client's account with the amount of the negative balance where the debit was during normal trading activity.
Clause 11 in STARTRADER LIMITED Client Agreement, p.39
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), ASIC (Australia), ESMA (EU)

FCA and ASIC rules, and ESMA's CFD measures in the EU, require negative balance protection for retail CFD clients, so a retail account can never end up owing money. STARTRADER's contract makes any credit discretionary, on request, and excludes abnormal markets.

STARTRADER is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 5On a bonus account the credit is used up first against a negative balance, and above $1,000 STARTRADER can refuse to clear the rest.
02

If STARTRADER suspects Suspicious Trading Activity, it can void your trades and cancel the profits with immediate effect. The definition covers holding long and short positions in similar assets at similar times, and any behaviour it deems exploitative.

Why this matters

The test is STARTRADER's own belief, which must be reasonable but need not be shared with you. It can label a winning hedge or news trade suspicious after the fact and take back its profit.

Exhibit 2CriticalHarder than usual

If STARTRADER has reasonable ground to suspect that the Client engages in Suspicious Trading Activity, STARTRADER reserves the right to temporarily or permanently suspend the Client’s trading account, recover any losses incurred in connection with the Suspicious Trading from the Client and/or void the Client’s Orders and cancel any associated profits, with immediate effect.
Clause 1.4(b)(v) in STARTRADER LIMITED Client Agreement, p.12
Read from the broker's site on Open the reference
  • Worse together with Exhibit 4Suspicious Trading Activity is itself a Default Event, so one judgement lets STARTRADER cancel the profit and end the contract along with your open trades.
03

Sharing an IP address with another client is a Default Event, and so are scalping (very fast in-and-out trading) and use of excessive leverage. STARTRADER judges each at its sole discretion, and can then end your agreement and walk away from orders you have already placed.

Why this matters

Two people on one home internet connection meet the IP test, and the profit on their open trades can end with the contract. The high leverage (borrowed trading power) STARTRADER advertises can trigger it too, once STARTRADER calls it excessive.

Exhibit 4CriticalRarely seen

same electronic identification point (i.e., IP address) as other client or communication with other clients;
Clause 1.3 Default Event (a)(i) in STARTRADER LIMITED Client Agreement, p.6
Read from the broker's site on Open the reference

Our readingMost agreements let a broker close open trades at the market price when it ends the relationship. This clause releases STARTRADER from orders already placed, and one trigger, abnormal trading conditions, has nothing to do with what you did.

04

Take STARTRADER's 50% deposit bonus and it can deduct profits it calls improper if more than 70% of your volume sits in specific products. Trading mostly in one direction counts too, and STARTRADER says it may not be able to show you proof.

Why this matters

Trading only gold, or only one currency pair, already puts 100% of your volume in one product. Each withdrawal also strips bonus credit from your account, which can push open positions into a stop-out (automatic closure).

Exhibit 5CriticalHarder than usual70%

During the promotion, STARTRADER reserves the right to deny the client’s qualification for participation, deduct any improper profits, or even terminate the partnership with clients if any breach of these terms and conditions is found.
Clause 4.15 in First Deposit 50% Bonus + Subsequent Deposit 20% Bonus, p.4
Read from the broker's site on Open the reference

What it costsA $1,000 first deposit earns $500 of bonus credit at 50%. Withdraw $500 of your own money and STARTRADER removes the matching share of that credit, or all of it.

Set against a regulated standard: FCA (UK), ASIC (Australia)

FCA and ASIC rules bar firms from offering retail CFD clients a bonus or other incentive to trade. STARTRADER's 50% bonus terms exclude Australia from the offer.

STARTRADER is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

05

STARTRADER's insurance page says your funds are insured up to US$30,000,000. The certificate it links names only its Mauritius company as the insured, and the $30,000,000 is a single cap shared by every claimant.

Why this matters

If your contract is with STARTRADER Limited in Seychelles, the certificate does not name your company at all. Even for a covered client, the policy pays nothing on the first $20,000 of a claim.

Exhibit 3WarningHarder than usual$20000New

INSURED: Startrader Financial Markets Limited.
Quoted in Excess of Loss Policy Evidence of Cover, p.1
Read from the broker's site on Open the reference

What it costsA covered client owed $10,000 when the company fails is under the $20,000 retention, so the policy pays nothing. A client owed $50,000 can recover at most $30,000 from it.

  • Worse together with Exhibit 6Margin payments are not client money and the insurance does not name STARTRADER Limited, so neither protects that money if the Seychelles company fails.

STARTRADER sells protections its own documents do not deliver

STARTRADER promises $30,000,000 of Lloyd's insurance and negative balance protection on every account card, in English and in Persian. Its client agreement makes the negative balance credit discretionary and excludes abnormal markets. The insurance certificate names only STARTRADER's Mauritius company and sets one $30,000,000 limit for all claimants.

Promise vs contract1 clause flagged

STARTRADER's 150% deposit bonus page lists Europe as its applicable region. Yet the STARTRADER LLC agreement has you confirm that STARTRADER never marketed or promoted anything to you.

Why this matters

That confirmation, known as reverse solicitation, can weaken a later complaint that a firm without a European licence marketed to you. STARTRADER's regulation page lists no European regulator, and its Cyprus company says it provides no trading services.

Exhibit 16WarningHarder than usual150%

STARTRADER has not engaged in any form of solicitation, marketing activities, or promotional efforts directed toward you.
Clause 1.4(c)(iii) in STARTRADER LLC Client Agreement, p.13
Read from the broker's site on Open the reference
Our own capture of startrader.com, taken on Oct 21, 2026The claim, on Applicable regions section of the 150% deposit bonus pageVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: ESMA (EU)

Under ESMA's CFD measures, firms may not offer retail clients in the EU a bonus or other incentive to trade. STARTRADER's 150% bonus page names Europe as its region.

STARTRADER is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

STARTRADER's costs sit in definitions, policies and the help centre

STARTRADER adds 3.5% a year to the financing rate on spot CFDs, in a definition on page 9 of its agreement. Card and e-wallet deposits can face a charge-back of merchant fees plus an unpriced handling fee. International wire withdrawals cost 25 units each, and no document prices the swap-free administration fee.

Cost disclosure3 clauses flagged

Hold a spot CFD (a contract on a current price) overnight and STARTRADER charges you interest at its provider's rate plus its own 3.5% a year. That 3.5% appears only in a definition on page 9 of the agreement, not on the accounts page.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

The markup applies every night you hold the position, so it adds up over months. On currency pairs STARTRADER instead adds a fee of up to 10% of each swap, the overnight interest charge.

Exhibit 7WarningHarder than usual3.5%

Reference Interest Rate means that interest rate provided by our liquidity provider plus STARTRADER’s transaction fee of 3.5% per annum.
Clause 1.3 in STARTRADER LIMITED Client Agreement, p.9
Read from the broker's site on Open the reference

What it costsOn a $10,000 spot CFD position held for a year, the 3.5% markup alone costs $350, on top of the provider's rate.

Set against a regulated standard: FCA (UK), ESMA (EU)

Under FCA and ESMA rules, firms must give retail clients an itemised breakdown of costs and charges, financing included, before they trade. STARTRADER states its 3.5% markup only inside a definition.

STARTRADER is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

STARTRADER's funding page tells you deposits are free. Withdraw card or e-wallet money after little or no trading, and its payment policy lets it charge back merchant fees plus a discretionary handling fee.

Why this matters

The policy defines neither minimal trading nor the handling fee, so STARTRADER sets both after you deposit. Its help centre also lists a 25-unit fee on each international wire withdrawal, though the payment policy says STARTRADER charges none.

Exhibit 8WarningHarder than usual$25

If Client deposits funds via Neteller, Skrill, E-wallet, Alternative Payment Methods (APM’s) or Credit Card and subsequently requests a withdrawal of these funds with no trading (or minimal trading) on their account, STARTRADER reserves the right to charge the applicable merchant fees and/or a discretionary handling fee to the Client trading account upon their withdrawal.
Clause Additional Terms 15 in Deposit & Withdrawal Policy, p.10
Read from the broker's site on Open the reference

Buried at section 31 of 33 in the Deposit & Withdrawal Policy, 94% of the way through.

What it costsWithdraw $1,000 by international wire and $975 leaves STARTRADER, before any intermediary bank takes its own charge.

On a swap-free account (no overnight interest, for religious reasons), STARTRADER charges an administration fee once you hold a trade more than 14 calendar days. No document states the amount, and the client agreement starts charges after seven days, not 14.

Why this matters

Products outside the policy's short list pay the fee every day. Keep your account under a single exposure for more than five days and STARTRADER can charge the fee backwards and deduct profit.

Exhibit 13WarningHarder than usual14 days

From Nov. 1st 2023 onwards, your account will be charged administration fees after you open the trade and hold it for more than (>) 14 calendar days.
Quoted in Swap-Free Accounts Policy, p.1
Read from the broker's site on Open the reference

Any open investigation can freeze a STARTRADER withdrawal

STARTRADER says it generally processes withdrawals within 24 hours, but it can hold any withdrawal while a chargeback, dispute or other investigation is pending. No document limits how long that hold may last. STARTRADER LLC's agreement goes further and lets that company set the timing, amount and method of every withdrawal.

Exit conditions1 clause flagged

STARTRADER can reject or hold your withdrawal while a card reversal, dispute or any other pending investigation is open, with no time limit. Of the agreement's three grounds for withholding money, one cites Australia's Corporations Act and another points back to the clause itself.

Why this matters

Your money can stay frozen while STARTRADER investigates, and nothing in the documents says when that must end. STARTRADER also owes you nothing on your deposits until every obligation on every account you hold is settled.

Exhibit 9WarningHarder than usual

STARTRADER reserves the right to reject or place on hold any withdrawal request if the Client’s trading account is subject to an ongoing chargeback process, dispute, or any other pending investigation.
Clause Withdrawals 12.1 in Deposit & Withdrawal Policy, p.9
Read from the broker's site on Open the reference

Buried at section 28 of 33 in the Deposit & Withdrawal Policy, 85% of the way through.

  • Worse together with Exhibit 10A withdrawal can trigger a source of wealth request, and an answer that takes more than 10 days turns the delay into a Default Event.

Ordinary behaviour can put your STARTRADER account in default

The STARTRADER Limited agreement lists 16 Default Events, from sharing an IP address with another client to not answering STARTRADER's emails. After one, clause 9.3(b) lets STARTRADER end the agreement and drop its obligations on orders already placed. Changes to the contract bind you after 10 banking days, or at your next trade.

Default triggers1 clause flagged

STARTRADER can change the agreement at any time. You are bound 10 banking days after it notifies you, or as soon as you place your next order, whichever is earlier.

Why this matters

An active trader accepts each change with the next trade, before the notice period has run. Notices count as received the moment STARTRADER sends them, and the STARTRADER LLC version does not even promise a notice.

Exhibit 14WarningHarder than usual10 working days

The terms of this Agreement and any transactions under it may be amended by STARTRADER at any time.
Clause 9.1(a) in STARTRADER LIMITED Client Agreement, p.36
Read from the broker's site on Open the reference

Short windows and a gag sit beside a fair complaints policy

STARTRADER may treat a statement as correct unless you report an error within 48 hours. Its 50% bonus terms tell clients whom STARTRADER judges to have traded improperly not to criticise it on social media. Its complaints policy is fairer, with a written answer due within 30 calendar days and escalation to the Financial Commission.

Complaint limits3 clauses flagged

STARTRADER may treat your trade confirmations and statements as correct unless you report an error within 48 hours of their becoming available. The agreement's dispute clause then refers you to a complaints document it never names.

Why this matters

STARTRADER can treat a statement as correct even if you find its error on day three, leaving you to prove otherwise. The separate complaints policy is fairer, with a written answer due within 30 calendar days.

Exhibit 11WarningHarder than usual2 days

STARTRADER is entitled to assume that the Confirmations and Statements are correct unless the Client notifies STARTRADER of any error within 48 hours following us giving the Confirmation or the Statements becoming available to the Client.
Clause 3.4(f) in STARTRADER LIMITED Client Agreement, p.20
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK)

FCA-licensed firms must give retail clients access to the Financial Ombudsman Service, which can consider a complaint up to six years after the event. STARTRADER may treat a statement as correct 48 hours after it becomes available.

STARTRADER is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

If STARTRADER judges your bonus trading improper, its 50% bonus terms say you have no right to post malicious comments about it on social media. Do so and STARTRADER says it will hold you legally responsible.

Why this matters

The same clause says STARTRADER may not show you proof of the breach. The newer 150% bonus terms narrow the gag to defamatory or knowingly false statements.

Exhibit 12WarningRarely seen

If clients are judged to have engaged in improper trading behavior, they do not have the right to post malicious comments or engage in activities that would damage the reputation of STARTRADER on any social media or channels; otherwise, they will be held legally responsible.
Clause 4.15 in First Deposit 50% Bonus + Subsequent Deposit 20% Bonus, p.4
Read from the broker's site on Open the reference

Our readingNon-disparagement terms belong to settlement and employment contracts. In retail bonus terms they turn a profit deduction into a decision the client is told not to discuss in public.

The only copy trading terms we found bind STARTRADER LLC and are not on the legal page. They let a signal provider take up to 50% of your copied profit, and make STARTRADER's rulings on that fee final.

Why this matters

STARTRADER caps its liability for copy trading at the fees you paid it for the service. Its help centre says STAR Copy charges no platform fee, and copy accounts get no negative balance reset.

Exhibit 19NoticeHarder than usual50%

Signal Providers are granted the discretion to set a profit-sharing ratio within a range of 0% (minimum) to 50% (maximum).
Clause 10.2(a) in Copy Trading Terms & Conditions, p.9
Read from the broker's site on Open the reference

What it costsIf your copied trades earn $1,000 above the high-water mark, a provider charging the maximum 50% takes $500.

A STARTRADER document request comes with a 10-day clock

STARTRADER can ask for proof of your source of funds and source of wealth at any time, including when you withdraw. Information still missing 10 days after a written request is a Default Event, which lets STARTRADER close your positions and end the agreement.

Document demands1 clause flagged

STARTRADER can ask at any time where your money and your wealth came from, including when you request a withdrawal. Leave a written request unanswered for 10 days and STARTRADER treats it as a Default Event.

Why this matters

A Default Event lets STARTRADER close your positions and end the agreement. The policy's own examples, payslips, tax returns and business income records, can take longer than ten days to gather.

Exhibit 10WarningHarder than usual10 days

Clients acknowledge and agree that they may be required to provide information and/or supporting documents relating to the source of their funds and/or their overall source of wealth, either when submitting a withdrawal request or at any time upon STARTRADER’s request.
Clause Withdrawals 8.1 in Deposit & Withdrawal Policy, p.8
Read from the broker's site on Open the reference

Buried at section 23 of 33 in the Deposit & Withdrawal Policy, 70% of the way through.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Any timeSTARTRADER asks where your funds or your wealth came from.Withdrawals 8.1
Day 10Information still missing becomes a Default Event.1.3 Default Event (a)(xii)
After the Default EventSTARTRADER can close any or all of your open positions and end the agreement.4.6(c), 9.3(b)

Your contract may be with any of three STARTRADER companies

STARTRADER publishes client agreements for three companies, in Seychelles, Mauritius and St Vincent, and does not say which one you get. The Seychelles agreement says money paid as margin or for an order is not client money. In August 2025 the site footer named FCA and ASIC companies, and it no longer does.

Who holds your money2 clauses flagged

STARTRADER's risk disclosure promises segregated client funds. Its client agreement says money you pay as margin, the deposit that keeps a trade open, is not client money.

Why this matters

Segregation is what keeps your money out of a failed broker's estate. Money that is not client money leaves you queuing as an ordinary creditor if STARTRADER fails.

Exhibit 6WarningHarder than usual

When STARTRADER accepts money from a Client in connection with an Order, a Margin Call or a Deposit, the Client immediately receives Reciprocal Obligations from STARTRADER under the Trade Contract Terms.
Clause 2.7(h) in STARTRADER LIMITED Client Agreement, p.17
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), ASIC (Australia)

FCA and ASIC rules require firms to hold retail client money in segregated accounts on trust for the client. ASIC also bars derivative issuers from using retail client money to cover their own hedging. STARTRADER's agreement says margin and order payments are not client money at all.

STARTRADER is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

STARTRADER's legal page offers client agreements from three companies, in Seychelles, Mauritius and St Vincent and the Grenadines. The site says it assigns you one by location, but never says which, and its regulation page does not list the St Vincent company.

Why this matters

That company, STARTRADER LLC, calls itself the offshore entity and keeps the absolute right to set the timing, amount and method of any withdrawal. Check which company's name is on your contract before you deposit.

Exhibit 15WarningHarder than usual

Upon registration, you will be assigned to the appropriate entity based on your location, ensuring that all trading activities are governed by the applicable regulatory authority.
Quoted in Trading Glossary
Read from the broker's site on Open the reference

Buried at section 59 of 64 in the Trading Glossary, 92% of the way through.

Seychelles law, and a contract STARTRADER can hand on

Seychelles law governs the STARTRADER Limited agreement, which is normal for a Seychelles-licensed firm. Clause 9.2 lets STARTRADER transfer the agreement to another party without your consent. Clause 1.4(b)(i) has you promise that you trade for business and investment, not personal use.

Governing law1 clause flagged

STARTRADER can transfer your agreement to another party without your consent, and the contract does not limit who that party can be. Seychelles law governs the agreement.

Why this matters

You also promise that you trade for business and investment, not personal use, which STARTRADER can cite against a consumer protection claim. Seychelles law itself is normal for a Seychelles-licensed firm.

Exhibit 17NoticeStandard wording

STARTRADER may, however, transfer any rights or obligations it may have pursuant to this Agreement to another party without the consent of the Client
Clause 9.2(a) in STARTRADER LIMITED Client Agreement, p.37
Read from the broker's site on Open the reference
  • Worse together with Exhibit 15Clause 9.2 lets STARTRADER pass your contract to another party, and the group includes STARTRADER LLC, a St Vincent company missing from its regulation page.

STARTRADER is both your counterparty and your price-setter

STARTRADER's risk disclosure says your CFDs are principal-to-principal contracts, made directly with STARTRADER. Its client agreement lets it set the value of your open positions at its sole discretion and share your fees with others without telling you. STARTRADER publishes no conflicts of interest or order execution policy.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Counterparty risk1 clause flagged

Your CFDs are contracts made directly with STARTRADER, which also sets the value of your open positions at its sole discretion. It can share the fees you pay with others, such as the introducer who referred you, without telling you.

Why this matters

When the other side of your trade also prices it, you need an outside reference to check against, and the documents name none. STARTRADER publishes no conflicts of interest or order execution policy.

Exhibit 18NoticeStandard wording

It is important to understand that CFDs are principal-to-principal contracts. This means that when you open a CFD position, you are entering into a contract directly with the CFD provider, rather than through an exchange.
Clause 6 in Risk Disclosure Notice, p.7
Read from the broker's site on Open the reference

Where it sits: section 41 of 96 in the Risk Disclosure Notice, 43% of the way through.

Set against a regulated standard: FCA (UK), ESMA (EU)

Under FCA and ESMA rules, firms must tell clients about payments they share with or receive from third parties, and must publish an order execution policy. STARTRADER's agreement lets it share fees without telling you, and it publishes no execution policy.

STARTRADER is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

No inactivity fee, but small idle STARTRADER accounts are archived for good

STARTRADER publishes no inactivity fee in its documents. Its help centre says STARTRADER archives an account for good after 90 days without a login or trade, when it holds 10 units or less.

In plain words

Dormancy means an account left unused.

Dormancy1 clause flagged

STARTRADER publishes no inactivity fee, but its help centre says it archives your account for good after 90 days without a login or trade. This applies when the account holds 10 units or less of its currency.

Why this matters

Neither the help centre nor any contract says what happens to the small balance left in an archived account. Withdraw everything before you let an account go idle.

Exhibit 20NoticeStandard wording90 days

There has been no login or trading activity for 90 days or more.
Quoted in Why is my account archived and how can I reactivate it?
Read from the broker's site on Open the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The accounts page sells negative balance protection as a feature, while the contract makes any credit a discretionary decision taken after you ask.

Said in public, in English

Negative Balance Protection

Feature list on the STANDARD, ECN and Prime ECN account cards, English trading accounts page

In the contract · clause 11

STARTRADER will evaluate the inquiry and at its discretion, may credit the client's account with the amount of the negative balance where the debit was during normal trading activity.

02

The Persian home page promises protection from a negative balance, while the English risk disclosure makes you fully responsible for one.

Said in public, in Persian

محافظت از تعادل منفی

Word for word in English: Protection from negative balance

Feature list on the STANDARD and ECN account cards, Persian home page

In the contract · clause 4

You will be fully responsible for any deficit or negative balance resulting from the liquidation of your positions;

03

The page tells every visitor their funds are insured, while the certificate names only STARTRADER's Mauritius company as the insured.

Said in public, in English

To protect our clients from unforeseen circumstances and unexpected events, your funds will be insured up to US$30,000,000, in excess of US$20,000.

About Lloyd's Insurance section, English Lloyd's insurance page

In the contract

INSURED: Startrader Financial Markets Limited.

04

The help centre still describes up to $1,000,000 of cover per client, while the current certificate sets one $30,000,000 limit for all claimants together.

Said in public, in English

The policy may provide coverage of up to US$1,000,000 per eligible client in the event of insolvency of the relevant STARTRADER entity.

Help centre article How does STARTRADER protect my funds?

In the contract

SUM INSURED: USD 30,000,000 The maximum aggregate amount payable, subject to and in accordance with the limits and the terms and conditions of the Policy.

05

The funding page says deposits are free, while the payment policy lets STARTRADER charge merchant fees and a handling fee when you withdraw after little trading.

Said in public, in English

We do not charge any fees for depositing funds to your account.

FAQ answer on the English funding and withdrawal page

In the contract · clause Additional Terms 15

If Client deposits funds via Neteller, Skrill, E-wallet, Alternative Payment Methods (APM’s) or Credit Card and subsequently requests a withdrawal of these funds with no trading (or minimal trading) on their account, STARTRADER reserves the right to charge the applicable merchant fees and/or a discretionary handling fee to the Client trading account upon their withdrawal.

06

The accounts page sells high leverage, while the contract lets STARTRADER treat leverage it considers excessive as a Default Event.

Said in public, in English

With ultra-tight spreads and high leverage, you can trade on more than 1000+ products across forex, indices, metals, commodities, and shares.

Opening paragraph of the English trading accounts page

In the contract · clause 1.3 Default Event (a)(i)

use of excessive leverage;

07

The bonus page names Europe as its target region, while the agreement has the client confirm that STARTRADER never marketed to them.

Said in public, in English

Applicable regions Europe

Applicable regions section of the 150% deposit bonus page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of startrader.com

In the contract · clause 1.4(c)(iii)

STARTRADER has not engaged in any form of solicitation, marketing activities, or promotional efforts directed toward you.

What changed quietly

STARTRADER's legal documents have no earlier review, so there are no changes to show.

  • REWRITTENClause · 20250813 to 20260916

    The cover changed from up to $1,000,000 for each claimant to one $30,000,000 limit shared by all claimants.

    SUM INSURED: USD 30,000,000 The maximum aggregate amount payable, subject to and in accordance with the limits and the terms and conditions of the Policy.

  • REWRITTENClause · 20250813 to 20260916

    The insured company changed from STARTRADER LLC to STARTRADER Financial Markets Limited, and neither certificate names STARTRADER Limited.

    INSURED: Startrader Financial Markets Limited.

  • REMOVEDClause · 2025-08-05 (archived) to 2026-10-21 (as read)

    The site footer no longer names an FCA-regulated STARTRADER company.

  • REMOVEDClause · 2025-08-05 (archived) to 2026-10-21 (as read)

    The footer also dropped the ASIC-regulated company, which STARTRADER's help centre still lists.

The documents this reading is based on

20 files, all published by STARTRADER. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording STARTRADER publishes.

How this reading was done

Every clause above was read out of a document STARTRADER publishes itself

This reading was published on .

Documents
17 of 20downloaded from the broker's site, and 17 read in full
Pages opened
34pages walked to find those documents, footer links included
Older copies
3earlier versions downloaded
Marketing pages
11public pages set against what the contract says
Languages
EN vs FAthe language it advertises in, against the language it contracts in
Position measured
5clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

STARTRADER Limited

STARTRADER's legal page offers three client agreements: STARTRADER LIMITED in Seychelles (FSA licence SD049), STARTRADER Financial Markets Limited in Mauritius (FSC licence GB24203371) and STARTRADER LLC in St Vincent and the Grenadines (registration 228 LLC 2019). The site says each client is assigned a company by location, but no page says which. This review treats the Seychelles agreement as the main contract. The Mauritius agreement has the same clauses apart from the company, licence and governing law. STARTRADER LLC is not on STARTRADER's regulation page, and its own agreement calls it the offshore entity. STARTRADER (CY) Limited in Cyprus states that it offers no trading services.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

STARTRADER's complaints policy is clear. It promises an acknowledgement within 7 calendar days and a written answer within 30. Any extension is capped at 30 more days, and you can escalate to the Financial Commission. The payment policy says withdrawals are generally processed within 24 hours, and STARTRADER pays card and e-wallet merchant fees for clients who trade. The agreement charges nothing for currency conversion, and no published document sets an inactivity fee. Its help centre describes automatic clearing of eligible negative balances every 3 minutes, which is better than the contract requires. Its insurance article also admits that only certain STARTRADER companies are covered. Every PDF carries a date in its file name, so changes can be traced.

No earlier copy of the July 2026 client agreements is available, so it is not possible to say which of their clauses are new. Earlier copies are compared only for the Lloyd's insurance certificate, from August 2025, and for two web pages from August and September 2025. This review covers the STARTRADER LIMITED agreement in full, and every clause where the STARTRADER LLC agreement differs from it. The STARTRADER Financial Markets Limited agreement is compared with the Seychelles one rather than reviewed on its own. The review does not cover the privacy policies of STARTRADER LLC and STARTRADER Financial Markets Limited, the terms of the 1% switch allowance, or any terms for the separate Copy Trade portal. STARTRADER publishes only an evidence of cover for its Lloyd's policy, not the policy itself. Without an account, it is not possible to see which company a new client is assigned to. We also could not reconcile STARTRADER's margin levels: the agreement gives 80% in clause 4.3 and 100% in clause 11 for the margin call, and the help centre gives a 20% stop-out.

How to check any of this yourself

Every quote above links to the STARTRADER file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document STARTRADER publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge STARTRADER on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 21, 2026.

If you represent STARTRADER and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on STARTRADER. Whether its licence is real and current is a separate check on the broker profile.

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