StellarFX Review – What Do We Know About This Forex Broker?

As of May 2023, the broker (stellarfx.io) has ceased operations. But you can read the article to avoid falling for similar scammers.

Is StellarFX a Scam Forex Broker?

The Eudaimon Consulting LLC is the owner of StellarFX Forex. In 2021, this company was registered in Saint Vincent and the Grenadines. We have a new scam in the form a StellarFX broker, after two brands were banned.

StellarFX should be regulated by the FCA, ASIC or CONSOB as SVG does not have a regulator for Forex companies. >We found no warnings about Eudaimon Consulting LLC in their databases.

Trading conditions are another sign that the broker is fraudulent. The EEA leverage limit is 1:30, according to ESMA rules. Similar rules apply to Australia and the UK. StellarFX, however, offers leverage up to 1:1600, which directly violates regulatory regimes.

StellarFX is an off-shore financial brokerage that does not require a license. The Federal Criminal Police began an investigation into the company after receiving a lot of complaints.

Scam Warnings against StellarFX

The German regulator, BaFin, exposed the StellarFX trading scam. After receiving numerous complaints, the German Federal Criminal Police opened an investigation.

The Italian CONSOB was another regulator to add stellarfx.io onto the banned domains list. They have blocked Eudaimon Consulting LLC as well as StellarFX brokerage.

StellarFX Scam Victims Are Living Where?

StellarFX reviews that are negative tend to be from:

• Italy
• Austria
• Switzerland
• UK
• Spain

This website is currently active since March 2022, and already has a bad reputation. We expect more authorities to join CONSOB (BaFin) and stop this cyber-fraud.

How does this scam broker find victims?

We were not surprised to find out about the various schemes they use because the trading company’s owner has a lot of experience. They promote their trading services via Google Ads and Facebook.

Once you are hooked, they will pressure you to make immediate investments. Employees may contact you by phone, email, WhatsApp, Telegram, or WhatsApp messages.

To extort even more money, the alleged account managers will send fake financial plans and promotions to you once you have activated your account. These boiler-room agents will give you fake results from their clients and promise you can make as much as them. You will get more if you are willing to pay more now.

You may see comments on Facebook or Instagram that praise fraudulent companies like StellarFX. These comments were paid for, so you shouldn’t believe the words you read.

StellarFX promises big profits and trading tips

Once the brokers agents reach you, they will make sure that you deposit the funds as soon as possible. StellarFX requires a minimum deposit of 250 EUR. They’ll convince that this is not too much money considering that you could make thousands of dollars in profit.

Account managers will create different plans for you, guaranteeing you higher returns and making it easier to invest.

These people will stop you from withdrawing the profit they claim you made. If you persist, they might even block your trading account and deny you access to funds.

StellarFX WebTrader Platform

StellarFX is a trading platform that allows online trading. It boasts the best features and the lowest spreads.

Trading novices can access a basic WebTrader, which is actually available to traders. You can choose from a variety of chart types, indicators and trading history. There is also the option to deposit additional funds. Advanced tools like EAs cannot be enabled.

Scam brokers often promote their platforms as unique software that lures inexperienced investors. There are better options like MT4,MT5 and cTrader. These are well-known names in the industry and you should keep an eye out for them.

What is a chargeback?

Chargebacks are a way for your bank to recover funds from the merchant. We recommend that you contact us immediately to begin the process. We will have a free consultation to discuss how we can recover your money right away!

StellarFX: Video

Below you will find a short video about StellarFX. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about StellarFX!