[SHAKTI SINHA]

Hi

I am currently doing CFD (FX/CRYPTO/STOCK/COMMODITIES ) trading through ALLSTARSTRADING.COM. (https://www.allstarstrading.com/)

Kindly let know if it is genuine or not.

Thanks

 

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[James Barra]

Hi Shakti Sinha,

Thank you for your message.

Whilst we have not fully evaluated All Stars Trading, I’ve done some initial digging into the brokerage following your message, and I have some concerns:

1. Limited Regulation: Allstarstrading.com is operated by IOS INVESTMENTS Limited, which is registered with the International Financial Services Commission of Belize. This is considered a ‘red tier’ regulator according to DayTrading.com’s Regulation & Trust Rating, meaning it operates with less oversight compared to brokers under more stringent regulatory bodies.
2. Lack of Recognition: The broker is relatively unknown in the industry, with limited visibility in terms of reputation, reviews from other traders, or endorsements from industry professionals. This lack of a track record may increase the risk to your funds.
3. Website Quality: The website appears poorly developed, relying heavily on stock images and generic buzzwords rather than detailed, verifiable information. Furthermore, there’s little transparency about the actual individuals running the company, and I was unable to reach anyone through the listed contact number.
4. High Deposit Requirements: The minimum deposit for the Entry account is $500 – already above the industry average – and the Platinum account requires $100,000. This is a steep ask, especially when no demo account appears to be available to thoroughly evaluate the platform beforehand.

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[SHAKTI SINHA]

Dear James

Thanks for the input. Kindly let know how to recover the invested fund from this company.

 

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[James Barra]

Hi Shakti,

I’m sorry to hear that you’re worried about the safety of your funds.

If you wish to withdraw funds from a broker, there are steps you can take:

• Contact the Broker Directly: Reach out to All Stars Trading through their official communication channels and politely but firmly request a withdrawal of your funds.
• Review Withdrawal Policies: Check the broker’s terms and conditions, especially regarding withdrawals. Follow their stated procedures, where reasonable, to avoid giving them a reason to delay or reject your request.
• Keep Documentation: Keep a record of all communications, including emails, chat transcripts, or phone calls. This will be key if you need to escalate the issue.

If you aren’t able to retrieve your funds by speaking to the broker directly, there are further steps you can take:

• Involve Your Payment Provider: Some credit cards, for instance, allow chargebacks if you can prove that a service has not been provided as promised.
• File a Complaint with Regulators: Since All Stars Trading is registered with the International Financial Services Commission of Belize, you could try filing a complaint with them. They may not be as effective as regulators from stricter jurisdictions, but it could still be worth pursuing.
• Warn Others: If your attempts to recover funds fail, report the broker on trading forums, social media, and review sites to warn other traders.
• Seek Legal or Professional Help: Just be wary of unscrupulous recovery services, many of which regularly try and post on our forum (their posts are rejected).

Going forward, it’s sensible to prioritize brokers that are licensed and regulated by stringent authorities such as the FCA in the UK and ASIC in Australia.

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