Is Starling Capital a Scam? – Here Is What I Know
If you have signed up for binary options trading programs like NEO2, Push Money App, Methodox 2.0, and others, you may have been directed to the broker named Starling Capital, which CANNOT BE TRUSTED.
Is Starling Capital a scam? After evaluating everything I do believe its a possible SCAM and you should be very hesitant to trust them.
In this Starling Capital review I’m going to be going over a few things that you need to know about this place that could keep you from losing your hard earned money.
First off, its a foreign broker.
Starling Capital Is Managed Overseas
Straight from the starlingcapital.com website, here is what it says at the bottom of the page. There are multiple foreign places where this place says it is managed. I took a screenshot of this below and you can take a look…
Now of course the fact that its foreign doesn’t necessarily mean its a scam or anything of that kind. There ARE foreign brokers that are legitimate and can be trusted, but there are also A LOT that are pure scams.
The problem with foreign brokers is that they are often unregulated. And Starling Capital is no exception, which brings me to my next point.
Starling Capital Is Unregulated… Or Is It?
Starling Capital is unregulated by the Cyprus Security & Exchange Commission, which is part of the European Union and is a great regulating entity for European binary options brokers.
However, if you search Starling Capital at SEC.gov , which is the Security and Exchange Commission’s website for the United States, you will find a result. And it shows as this…
It appears that Starling Capital is regulated under the SEC, however, this is very old. As you can see it was last updated in 2007. And the Starling Capital I’m talking about is very new.
From doing a whois search of starlingcapital.com I was able to find that this site was just created in 2016.
So I’m not sure what to make of this, but I thought I would share it anyhow.
If Starling Capital is unregulated as I suspect, and its NOT the one shown above,this is a big problem for me. Sure it could be true that they wish to go unregulated to save money in the cost of yearly regulation fees, but I suspect that they are simply an illegitimate firm.
There are no institutions regulating this place making sure that they follow guidelines. They can pretty much do anything that they want. There is no place looking over them to make sure they don’t trick and scam people.
Regulations make sure firms pay customer compensation funds so that investors get some of their money back in case of financial collapse, and they also make sure firms abide by rules against mistreating customers and have compensation plans in place for those who are mistreated.
With a unregulated firm you have none of that.
There Isn’t Much To The Website
This point is just something that adds some suspicion to the whole thing, but definitely does not prove anything. But anyway, I thought I would still touch on the fact that starlingcapital.com is not a very detailed site.
The site could be thrown together in a week pretty easily. There is just not much too it. Not many pages and not much information.
Starling Capital Complaints
There really isn’t much in the way of complaints against Starling Capital at this point, but that could just be due to it being a relatively new firm.
However, there are complaints. The most common complaints have to do with withdrawing money. It seems that you can easily invest your money through them, but when it comes to withdrawing it, its a whole new story.
You can find these complaints in comment sections and even on Ripoff Report.
Is Starling Capital a Scam? Would I Trust Them
Although there might not be enough conclusive evidence to suggest whether or not they are a scam, I still would NOT trust them. For me to invest money through a brokerage firm, I need a regulated trusted company that actually looks legitimate. And Starling Capital is just not one of them.
They are foreign, unregulated, have a lousy website, have some complaints (although not many), oh ya.. and they are the “trusted broker” of some definite binary trading software scams like NEO2, Push Money App, and Methodox 2.0.
There are just too many red flags in my opinion and not enough reasons for me to trust them.