Shady Website Full of Malevolent Lies

JulstarCorp claims to be a perfectly well-regulated trading platform with multiple reputable trading licenses. The website promises users top trading conditions, high leverage, tight spreads, and low fees.

However, the whole brokerage business is one big hoax cunningly designed to deceive unwary traders and steal all their funds. If you are a victim of this devious scheme, read our JulstarCorp Review and find out how you can recover your hard-earned money!

Legal Info: Is JulstarCorp Regulated?

First, we shall debunk the JulstarCorp regulation lies. The website swears by several licenses from reputable financial market authorities. This is a cunning ruse used to deceive unwary traders.

We started checking the background of the alleged Swiss provider and immediately found a regulatory warning against the platform issued by the UK’s Financial Conduct Authority (FCA) on November 27, 2023. 

The broker, like FBK Markets, is not licensed to provide Forex trading services and therefore, the platform is potentially a trap for all the funds placed on it.

According to the FCA, if you trade with the JulstarCorp broker, “you won’t have access to the Financial Ombudsman Service if you have a complaint. You also won’t be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong.”

Instead of trusting unlicensed tricksters, you should stick to regulated providers operating under the supervision of esteemed financial authorities such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), BaFin (Germany), MAS (Singapore), CySEC (Cyprus), etc.

Who Are JulstarCorp’s Targets?

According to godaddy.com/whois, the julstarcorp.com website domain was created on April 28, 2019. For four and a half years now, the financial swindler has mainly been targeting unsuspecting traders who reside in the following countries:

• United Arab Emirates;
• Turkiye;
• Cyprus.

Each of these countries has heavy financial regulations and laws in force to prevent unauthorized imposters from defrauding local traders. 

One common law stipulates that each brokerage firm is required to possess a necessary license or permit. JulstarCorp directly violates their rules by offering users leverage higher than allowed in Europe (1:30) or the UAE (1:20). Such misconduct prompted the FCA to issue a warning against the platform.

Which Trading Platform Is Available?

JulstarCorp’s trading platform is a relatively simple web-based trading terminal that supports popular trading instruments such as Forex currency pairs, indices, commodities, precious metals, stocks, and cryptocurrencies. 

Despite the promising advertising on the bogus website, the platform fails to deliver. The interface is pretty lackluster, consisting of just some basic charts, graphs, and indicators. Beginners may find this terminal attractive but seasoned traders cannot benefit from it. 

There are no advanced tools and no demo account option, implying you cannot try out the platform for a free trial period. Check out our CoinW review to learn why that’s a bad thing.

If you want a pure trading experience, you should stick to licensed providers that support recognized third-party software such as MetaTrader 4, MetaTrader 5, SiriX, or cTrader. 

MT platforms are arguably the best in the industry, enabling traders to utilize sublime tools such as automated & algorithmic trading, advanced charting, live market reports, API integration, 20+ timeframes, EAs, lightning-fast order execution, etc.

Available Live Account Types

Leverage, Spreads, Commissions, Demo Account

When it comes to the trading conditions, the website is full of discrepancies. The maximum leverage that JulstarCorp offers is capped at either 1:100 or 1:500, which, as we mentioned, is significantly higher than the legal cap in force in top-tier jurisdictions. 

High leverage can amplify potential profits but also potential losses, making leverage trading a particularly risky sport. 

As for the spreads, the bid/ask gap for the benchmark EUR/USD pair is 1 pip, which is competitive but the commissions were not disclosed. Scammers are known for having hidden fees.

Another big red flag is that there is no demo account. If you are a beginner, you should not be risking real money straight away. That’s why every legitimate broker nowadays offers a free demo account. JulstarCorp does not, which is why you should avoid this platform. 

Deposit and Withdrawal Process

JulstarCorp states there are several available payment methods that can be used to fund live trading accounts:

• Credit/debit cards (MasterCard, VISA);
• Wire transfers;
• Cryptocurrencies.

In case you deposited funds via MasterCard or VISA credit/debit cards, you can request a chargeback at the issuing bank within 540 days and reverse the transaction. Wires can be reversed via a recall but this action can only work for transactions yet to be completed.

The reason why scammers prefer crypto payments is that they are extremely hard to trace and undo, plus such a method allows them to remain anonymous and run their schemes.

To reverse crypto transactions, you’re going to need to seek out professional assistance as these types of payments can be a nightmare to undo. Luckily, we have a team of experts that can help you recover your funds.

Key Facts To Consider About JulstarCorp

To sum up, we give our honest verdict – JulstarCorp is an anonymous phony broker mainly targeting traders from the UAE, Cyprus, and Turkiye. This provider was recently blacklisted by the FCA.

We do not recommend the platform because it is unregulated and not transparent at all. In case you’ve lost money to the JulstarCorp scam, you must seek our professional help to recover your funds!

Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.

Let us know if this broker stole your money.

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