SEVEN STAR FX Review - Is This Broker Legit and Safe? - WikiFX
Abstract：SEVEN STAR FX is not regulated and does not provide services to certain regions. Both demo accounts and Islamic accounts are available.
| SEVEN STAR FXReview Summary | |
| Founded | 2008 |
| Registered Country/Region | Mauritius |
| Regulation | No regulation |
| Market Instruments | Currencies, indices, metals, energies, soft commodities, CFD futures, cryptocurrencies |
| Demo Account | ✅ |
| Leverage | Up to 1:1000 |
| Spread | From 0.0 pips (ECN, VIP Account) |
| From 1.3 pips (Standard Account) | |
| Trading Platform | MT5, MT4 |
| Minimum Deposit | $50 |
| Copy Trading | ✅ |
| Customer Support | Contact form |
| Tel: +1 315 277 2288 | |
| Email: Support@sevenstarfx.com | |
| Address: Level 5 The Core Building Cybercity Ebene, Republic of Mauritius | |
| Social media: Instagram, YouTube, Twitter, Facebook, LinkedIn | |
| Regional Restrictions | The USA, UK, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus |
SEVEN STAR FX was registered in 2008 in Mauritius, which offers trading services related to currencies, indices, energies, cryptos and so on. It provides three types of accounts, with a minimum deposit of $50 and a maximum leverage of 1:1000. What's more, it also provides demo accounts and Islamic accounts. However, it is not regulated and it does not provide services to certain regions.
Pros and Cons
| Pros | Cons |
| MT4 and MT5 supported | High leverage ratio |
| Low minimum deposit | Lack of regulation |
| Multiple channels for customer support | Regional restrictions |
| Demo account and Islamic account | Commission fees charged |
| Copy trading services provided | |
| Long operation time | |
| Popular payment options | |
| Diverse tradable assets |
Is SEVEN STAR FX Legit?
No, SEVEN STAR FX is not regulated by financial regulatory authorities in Mauritius, which means the company lacks regulation from its registration site. Please be aware of the risks!
What Can I Trade on SEVEN STAR FX?
SEVEN STAR FX provides a number of products, including currencies, indices, metals, energies, soft commodities, CFD futures, and cryptocurencies.
| Tradable Instruments | Supported |
| Currencies | ✔ |
| CFD Futures | ✔ |
| Metals | ✔ |
| Energies | ✔ |
| Soft Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Stocks | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Account Type & Fees
SEVEN STAR FX provides three types of accounts: Standard, ECN, and VIP Account. Besides, demo accounts and Islamic accounts are also available. Commission fees vary according to the types of accounts.
| Account Type | Minimum Deposit | Maximum Leverage | Spread | Commission |
| Standard | $50 | 1:1000 | From 1.3 pips | ❌ |
| ECN | $5,000 | 1:500 | From 0.0 pips | $5 |
| VIP | $25,000 | 1:500 | From 0.0 pips | $2.5 |
Leverage
The leverage ranges from 1:500 to 1:1000, which are not low. Traders need to consider carefully before investing, since high leverage is likely to bring high potential risks.
Trading Platform
SEVEN STAR FX uses MT4 and MT5 as its trading platforms. MT4 and MT5 are commonly used platforms, which are stable and safe.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | PC, web, mobile, mac | Beginners |
| MT5 | ✔ | PC, web, mobile, mac | Experienced traders |
Copy Trading
SEVEN STAR FX offers copy trading services, which enables clients to learn from top traders. Beginners can follow experienced traders, and they can explore their own trading strategies.
Deposit and Withdrawal
SEVEN STAR FX supports a number of payment options.
| Deposit Options | Minimum Deposit | Deposit Fees | Deposit Processing Time |
| Bitcoin | $5 | ❌ | Instant |
| Neteller | 1% | ||
| Skrill | 1% | ||
| fasapay | 0.5% | ||
| MasterCard | 1% | ||
| VISA | 1% | ||
| RegularPay | / | ||
| Wire Transfer | $100 | / | 2-7 working days |
| Tether | $50 | / | Instant |
| Withdrawal Options | Minimum Withdrawal | Withdrawal Fees | Withdrawal Processing Time |
| Bitcoin | $50 | ❌ | Instant |
| Neteller | ❌ | Instant | |
| Skrill | ❌ | Instant | |
| MasterCard | ❌ | 2-10 business days | |
| VISA | ❌ | 2-10 business days | |
| RegularPay | Depending on bank | 2-10 business days | |
| Wire Transfer | ❌ | Instant | |
| Tether | ❌ | Instant |
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