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StartFX Review






StartFX is an online Forex broker based in Georgia which offers its clients access to multi-asset trading.

Finding a reputable StartFX review local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth review regarding StartFX to help you make an informed decision before opening your account or trading on their platform.

StartFX positions itself to both beginner and advanced traders, providing a simplified and user-friendly trading platform that is diverse enough for a range of trading styles.

The broker’s trading platform takes on a multi-level structure that allows users to adapt the trading terminal to their level of experience or trading strategy.

In this way, traders can adjust the setting and the number of tools they use to execute their trades as their experience level improves.

Trading is offered on the highly popular MetaTrader 4 platform, with access to a variety of financial instruments and tailored account types.

StartFX was established in George in 1998 at the height of the tech bubble, and today the broker is headquartered in Georgia.

StartFX is licensed to trade by the National Bank of Georgia, under whose regulation the broker also falls.

As such, the National Bank of Georgia fulfills the function of a financial regulator for Georgia’s non-banking sector, as no other independent financial regulators currently operate in the country.


Awards and Recognition

While StartFX has enjoyed much positive customer feedback and several good reviews, the broker has not listed any awards on its website to date.


StartFX Accounts

Prospective traders need to make an effective study of the various account types which a broker may offer, as often these accounts are designed to suit the specific needs of certain trader experience levels and strategies.

The forex industry is populated by a vast array of traders with various trading needs, which most brokers aim to meet through the provision of suitable accounts. These may include commission-free accounts, low spread accounts, and managed accounts.

On the other hand, some brokers will offer one standard account type which aims to target a certain group of clientele.

Traders should also seek out brokers who offer a free demo account, as this will allow them to conduct a test run of the broker’s features before deciding to sign up for a live trading account.


Types of Accounts and their Features

StartFX provides three different account types which cater to specific trading styles, experience levels, and trading strategies. These accounts consist of the following:

Micro Account

  • Minimum deposit: $250
  • Minimum trade size: 0.01 lots
  • Spreads: starting at 1.8 pips


VIP Account

  • Minimum deposit: $3000
  • Minimum trade size: 0.01 lots
  • Spreads: starting at 1.8 pips


Premium Account

  • Minimum deposit: $25 000
  • Minimum trade size: 0.01 lots
  • Spreads: starting at 1.8 pips


These accounts each come with a very high minimum deposit when compared to many other brokers in the industry, particularly when taking into account that these increasing deposits do not appear to come with any improved conditions.

As such, the spread starts at 1.8 pips for each of the accounts, which is not as tight as the spread offered by many other brokers, nor is it clear what additional trading instruments, analytics, or conditions come with each account.

Both the VIP and the premium accounts would appear to be positioned to more advanced or professional traders, and yet the trading conditions are the same as that of the micro account.

It is also not clear whether these more advanced account types come with an account manager, which many other VIP accounts do.

The broker does not appear to offer Islamic, or swap-free accounts, which would deter Muslim clients seeking to trade on accounts that do not incur additional interest on overnight positions, as these conditions are against Sharia law.

StartFX does offer a demo account, which is a useful means of testing the broker’s features before signing up for a live trading account and is likely the best means for potential clients to determine which account type is best suited to them.


Deposits and Withdrawals

Both deposits and withdrawals at StartFX can be done through several popular and efficient payment methods, which consist of the following:

  • Bank Wire Transfer
  • Credit/Debit Cards
  • Neteller
  • Qiwi
  • Skrill, and
  • WebMoney


Only two deposit currencies are accepted by StartFX, namely EUR and USD, which is fairly limited when compared to many other brokers in the industry.

A wide selection of deposit currencies is often preferable when trading forex, as having to withdraw from a currency other than your base currency can rack up fees that impact your profitability, typically through the payment of a conversion fee.

These conversion fees can occur both when trading and when withdrawing funds from your trading account.

On the other hand, StartFX does not appear to charge any additional fees for making deposits or withdrawals, which some other brokers do.



Cost and Fees, Commissions and Spreads

StartFX offers commission-free trading and only charges a fee from the spread.

Commission-free brokers are often considered to provide more competitive trading conditions, however, when one considers the fact that spreads with StartFX start at 1.8 pips, these rates are not as competitive as one might hope.

Many other commission-free brokers offer tight spreads that start as low as 0.6 pips, allowing for clients to execute far more profitable trades as one might expect from the conditions provided by StartFX.

Added to this, the broker has a relatively high minimum deposit requirement of $250 for its Micro account, with the deposit requirement going as high as $25 000 on the Premium account.

This high minimum deposit, coupled with the widespread, does not allow for the most competitive trading conditions, even though trades are offered commission-free.



StartFX offers a relatively high maximum leverage of 1:500, which would be most attractive to advanced traders with a higher risk appetite.

Most brokers, particularly those regulated in the European Economic Area and the United Kingdom, offer a maximum leverage of 1:30, or 1:50 in some cases.

This is due to the fact the European regulators recently decided to cap the maximum leverage which brokers operating within their jurisdiction could offer, due to the high risk associated with the mechanism.

While leverage can significantly increase the potential profitability of your initial investment, it can also increase the potential losses which you may incur, particularly when investing large sums of money.



StartFX does not appear to offer any bonuses or ongoing promotions at this stage, which is a pity considering the high minimum deposit and the uncompetitive trading conditions so that a trading bonus would have presented more of an incentive to smaller retail traders.


Trading Platforms, Software, and its Features

StartFX offers to trade on the highly popular MetaTrader 4 platform, which is one of the most widely used trading platforms in the industry today, as it is jam-packed with advanced trading features.

The MetaTrader 4 trading platform is designed for Forex and futures trading. With MetaTrader 4, traders can analyze financial markets, perform advanced trading operations, run trading robots (Expert Advisors) and copy deals of other traders.

The platform supports three trade execution modes, including Instant Execution, as well as 2 markets, 4 pending and 2 stop orders, and a trailing stop function. Quick trading functions allow sending trading orders straight from the chart with one click.

The built-in tick chart feature provides an accurate method for determining entry and exit points. With the rich functionality of MetaTrader 4, you can implement various trading strategies in the Forex market.

The MetaTrader 4 platform provides wide analytical opportunities. Each symbol can be displayed in 9 time-frames, allowing traders to see the price dynamics in detail.

30 built-in technical indicators and 24 graphic objects are available for the most comprehensive analysis of price dynamics.

Users can combine these tools, identify trends, determine entry and exit points, and with the wide analytical capabilities of MetaTrader 4, can thoroughly analyze market movements to catch the best time to trade.

The MetaTrader 4 platform meets the highest security standards. Data exchange between the client terminal and the platform servers is encrypted.

The platform additionally supports the use of RSA digital signatures, so that you can rest assured that your trading accounts are securely protected.

All in all, MetaTrader 4 is equipped with an impressive set of advanced trading and analytical features.

The platform provides a user-friendly interface to help you easily understand all functions and operation principles.


Markets, Products, and Instruments

StartFX offers a rich product portfolio, with access to some of the most popular asset classes, including the following:

  • Forex
  • CFDs on metals
  • CFDs on energies
  • CFDs on indices
  • CFDs on commodities
  • CFDs on shares
  • Cryptocurrencies


However, the amount of available currency pairs is not immediately available from the broker’s website.



Safety and Regulation

StartFX is an operating brand of L.A. INVEST LLC, which is authorized and licensed by the National Bank of Georgia.

As already noted, the National Bank of Georgia fulfills the regulatory role for both the banking and non-banking sector in that country, as there are currently no other independent regulatory bodies.

Brokerage, Asset Management, and Banking Business, in general, require a license in the Republic of Georgia, as provided by the National Bank, which is the central bank of the country.

The issuing of this license comes with certain conditions, including a minimum capital requirement of € 162 000. Added to this, client funds are held in segregated accounts with the bank to guard against any potential mismanagement.

While StartFX is not as well regulated as other European brokers or those who fall under the jurisdiction of the FCA, it is nonetheless a more secure option than many other offshore brokers located in more lax areas like St Vincent and the Grenadines.


Customer Support

Customer support appears to be extremely lacking with StartFX, as there were not any available contact numbers, email addresses, or even a live chat option for the broker’s support team.

This can present a serious issue for traders who need to resolve issues affecting their trades, or who might need technical support when using the platform.

The forex market is already defined by high volatility, and while these conditions often relate to higher profits, the inability to contact brokers regarding disputes or account issues can be a serious drawback, and also reflect on the broker’s overall legitimacy.



While StartFX does not appear to offer any independent research tools, such as market news, charts, or even an economic calendar, the MetaTrader 4 does come with a suite of advanced and user-friendly analytical capabilities.

When using MT4, technical indicators and line studies are built into the terminal for analytical purposes. These objects are imposed directly into the chart and allow to forecast further price changes.

At that, indicators are imposed automatically, and line studies are attached manually. Parameters of indicators can be set up manually, as well. Technical indicators can have different settings for different symbols or periods.

The use of technical indicators and line studies allows users to open and close reasonable trade positions, place and modify pending orders.

Moreover, the use of analytical means allows users to perform systematic trading activities and reduces in that way the influence of human emotions.

Along with technical indicators, custom indicators are written in MetaQuotes Language 4 (MQL4) can be used for analytical purposes.

Another advantage is the built-in Economic Calendar keeping you updated on all important current and upcoming events.

Analyzing reports and macroeconomic indicator parameters is an integral part of the fundamental analysis, and the MT4 terminal offers all you need for that.

This includes instant delivery of events concerning 13 currencies and 18 countries, Calendar functions for automatic handling of news, and displaying release time on a chart.


Education and Training

StartFX does offer educational and training material that allows new traders to become better acquainted with the forex market.

For investors who want to be a part of the complex world of foreign exchange, forex education has to be on top of the list before doing some investments.

Forex education enables traders to reason and apply knowledge to important daily trading activities.

For long-term progress, it is a helpful tool that guides traders to optimal systems and the best solutions.

With a solid education, traders are prepared to make informed trading decisions instead of impulsive emotional ones that can often lead to major account disasters.

Trading currencies is not just about blindly exchanging one currency for another and profiting from the difference in prices. Traders need to at least use price charts to know how much each currency is worth.

Additionally, traders may need various indicators, signals, and oscillators to help them identify price trends and future currency price shifts.

Arming oneself with a forex education will enable you to identify what tools are available for monitoring and predicting market movements.

To this end, StartFX offers free tutorials on forex trading that you should consider checking out to become a trading expert. These will allow you to understand the basics of currency markets and the way forex works for the business of trading.



StartFX offers compelling reasons for new traders to sign up with them, including a rich product portfolio that can be traded on the popular and advanced MetaTrader 4 platform. While StartFX provides a compelling option, there are brokers which offer the same features in a far more competitive trading environment.



Risk Warning: The Company also offers CFD products which are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with GCI Trading.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Cryptocurrencies are complex, high-risk, and volatile and may result in the loss of all invested capital over a short period of time; they are not appropriate for all investors.

Investors must understand and acknowledge these specific characteristics and risks and be warned that there is no EU regulatory framework governing trading in cryptocurrency products.

CFDs and Forex are not only complex instruments, but they also have a high level of risk which may result in loss of funds that exceed the trader’s initial deposit.

Traders need to evaluate their objective, level of risk exposure and willingness to be exposed to risks.



StartFX at a Glance

Broker’s name StartFX
Headquarters Georgia
Year founded 2014
Regulating authorities National Bank of Georgia
Countries not accepted for trade This is not indicated
Demo account Yes
Islamic account (swap-free) No
Institutional accounts No
Managed accounts No
Maximum leverage 1:500
Minimum deposit $250
Deposit options Bank Wire Transfer

Credit/Debit Cards



Skrill, and


Withdrawal options Bank Wire Transfer

Credit/Debit Cards



Skrill, and


Platform(s) provided MetaTrader 4
OS compatibility Mac, Microsoft Windows, Mobile, Web, iPhone
Tradable assets Forex, CFDs, Cryptocurrencies
Languages supported on the website English, Georgian, Russian, German
Customer support languages English, Georgian, Russian, German
Customer service hours Not indicated





Trading Environment


How many instruments can I trade with StartFX?

  • Forex
  • CFDs on metals
  • CFDs on energies
  • CFDs on indices
  • CFDs on commodities
  • CFDs on shares
  • Cryptocurrencies


Which platforms are supported by StartFX?

Metatrader 4.


Does StartFX offer leverage?

Yes. StartFX offers leverage of 1:500.


What spreads can I expect with StartFX?

Spreads from 1.8 pips.


Does StartFX charge commission?

No. StartFX offers commission-free trading.


Is StartFX regulated?

Yes. StartFX is regulated through the National Bank of Georgia.


Is StartFX a recommended forex trading broker for experts and beginners?

No, while StartFX offers a simplified trading environment, the high minimum deposit and uncompetitive trading environment would deter many beginner traders


What is the overall rating out of 10 for StartFX?





What is the difference between a demo and a live trading account?

A Demo Account is a risk-free account that is funded by virtual money and allows traders to either practice trading, explore the broker’s offering, or test trading strategies in a mimicked live trading environment.


Does StartFX offer a demo account?



For how long is the demo account valid?

This information is not available but when generally comparing demo accounts between brokers, the frequent term is 30-days.


Which live trading accounts does StartFX offer?

  • Micro Account – with a minimum deposit of $250, minimum trade size of 0.01 lots and spreads that start from 1.8 pips.
  • VIP Account – with a minimum deposit of $3,000, minimum trade size of 0.01 lots, and spreads from 1.8 pips.
  • Premium Account – with a minimum deposit of $25,000, minimum trade size of 0.01 lots, and spreads from 1.8 pips.


What are the available deposit currencies for a live trading account?

USD and EUR.


Deposits and Withdrawals


What is the minimum deposit for StartFX?



How do I make a deposit and withdrawal from StartFX?

  • Bank Wire Transfer
  • Credit/Debit Cards
  • Neteller
  • Qiwi
  • Skrill
  • WebMoney


Does StartFX charge withdrawal fees?

StartFX does not appear to charge withdrawal fees


How long does it take to make a withdrawal?

This will depend on the method through which withdrawals are made along with the process involved and generally it can take between one and several business days.



Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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