Who Is Option Stars Global?

Option Stars Global was an online trading broker located in London, owned by Novox Capital Ltd., and founded in 2014. It offered traders opportunities to take positions in the binary and forex markets, among others, claiming that it offered its members the chance to earn spectacular returns on their investment. The platform claimed that its ‘advanced risk management system’ guaranteed consistent profits for all of its members.

The Options Stars Global website has now shut down and, in the wake of a plethora of online reviews claiming that a scam has taken place, the Options Stars Global review below looks at whether this organization was, in fact, a legit one and what options former investors have if they believe their funds were scammed away by this broker.

Is Options Stars Global Licensed?

Option Stars Global was registered and regulated in Samoa. The regulator in this territory is known to not be stringent in its role as a financial watchdog and, therefore, trading with this broker was always regarded as a risky proposition.

When choosing a broker, potential investors must satisfy themselves as to the nature of its regulation status and ensure that the organization holds all the necessary licenses; this is one of the best ways to safeguard any funds deposited.

New traders should bear in mind, too, that the nature of financial regulations varies from one country to another. For example, what is regarded as a disallowed practice in one territory may be acceptable in another, and so this should be carefully checked before placing any funds with a broker.

So, the answer to the question, ‘is Option Stars Global regulated?’ is yes, it was – but not to a high standard.

Is Option Stars Global a Scam or Legit?

There are many red flags to suggest that an Option Stars Global scam was underway. In 2018 the Austrian authorities issued an investor warning against the company, stating that it was not licensed to provide financial services in the country:

“This broker was very fast when he take money from my account. They took my money before I gave my permission. Now I can’t get them back. They don’t answer my mails so look out for these guys. I have now written to them in 3 days and still no answer.” From Trustpilot

The FCA also issued a similar statement warning potential investors that the platform was providing financial services in the UK without the proper authorization in place required to do so; the statement advised that Option Stars Global was actively targeting potential investors within the UK.

Another warning sign – and one to watch out for when considering any new broker to trade with – was the website’s claims of guaranteed consistent profits; in general, statements like this point to a scam: if it sounds too good to be true, it probably is.

Biggest Complaints Against Option Stars Global

On the review site Trustpilot, 75% of the reviews for Option Stars Global are ‘Bad.’ The most frequent Option Stars Global complaints relate to claims that the organization is a scam and that trader accounts were frozen, grievances regarding the disappearance of funds, and complaints from members about an inability to withdraw funds. Other concerns have been raised about the unresponsive nature of the customer service provision and unclear terms and conditions, including trading processes.

There are a number of online complaints, too, stating that Option Stars Global removed money from members’ bank accounts without being given permission to do so and regarding the generally unscrupulous nature of the broker’s processes.

Can I Get My Money Back From Option Stars Global?

Yes, it is possible to get an Option Stars Global refund. To go about doing so, you have two options. Firstly, you may choose to pursue the matter yourself, tracking down and confronting all of the agencies who had any part in the scam and the movement of your funds. Alternatively, you could instruct a professional chargeback company to act on your behalf and fight your case for you. The latter option generally has the greatest chance of success as a chargeback team will have the industry knowledge, expertise, and experience with similar scams to act effectively.

What Is the Chargeback Process?

To start the process of getting your Option Stars Global money back, first, choose a reputable chargeback company to work with – check online reviews from past clients and success rates as part of your research into the options available. Once you’ve decided on the team you wish to instruct, make contact with – most have an online contact form on their websites.

The chargeback representative will thoroughly discuss your case with you to ascertain if it has a high chance of success. If this is deemed to be the case, then it will be taken on by the company, and the process of document and evidence gathering will begin. Once this is completed, the team will pursue and confront all of the entities – both individuals and organizations – that had any part in the Option Stars Global scam in a bid to recover your funds. In the very likely event that this is successful, the money will be deposited directly into your bank account.

If you believe that you’ve been the victim of an Option Stars Global scam, then it is highly advisable to make contact with a chargeback company at your earliest convenience to take the first step in recouping your lost funds.

Who Is Option Stars Global?

Option Stars Global was an online trading broker located in London, owned by Novox Capital Ltd., and founded in 2014. It offered traders opportunities to take positions in the binary and forex markets, among others, claiming that it offered its members the chance to earn spectacular returns on their investment. The platform claimed that its ‘advanced risk management system’ guaranteed consistent profits for all of its members.

The Options Stars Global website has now shut down and, in the wake of a plethora of online reviews claiming that a scam has taken place, the Options Stars Global review below looks at whether this organization was, in fact, a legit one and what options former investors have if they believe their funds were scammed away by this broker.

Is Options Stars Global Licensed?

Option Stars Global was registered and regulated in Samoa. The regulator in this territory is known to not be stringent in its role as a financial watchdog and, therefore, trading with this broker was always regarded as a risky proposition.

When choosing a broker, potential investors must satisfy themselves as to the nature of its regulation status and ensure that the organization holds all the necessary licenses; this is one of the best ways to safeguard any funds deposited.

New traders should bear in mind, too, that the nature of financial regulations varies from one country to another. For example, what is regarded as a disallowed practice in one territory may be acceptable in another, and so this should be carefully checked before placing any funds with a broker.

So, the answer to the question, ‘is Option Stars Global regulated?’ is yes, it was – but not to a high standard.

Is Option Stars Global a Scam or Legit?

There are many red flags to suggest that an Option Stars Global scam was underway. In 2018 the Austrian authorities issued an investor warning against the company, stating that it was not licensed to provide financial services in the country:

“This broker was very fast when he take money from my account. They took my money before I gave my permission. Now I can’t get them back. They don’t answer my mails so look out for these guys. I have now written to them in 3 days and still no answer.” From Trustpilot

The FCA also issued a similar statement warning potential investors that the platform was providing financial services in the UK without the proper authorization in place required to do so; the statement advised that Option Stars Global was actively targeting potential investors within the UK.

Another warning sign – and one to watch out for when considering any new broker to trade with – was the website’s claims of guaranteed consistent profits; in general, statements like this point to a scam: if it sounds too good to be true, it probably is.

Biggest Complaints Against Option Stars Global

On the review site Trustpilot, 75% of the reviews for Option Stars Global are ‘Bad.’ The most frequent Option Stars Global complaints relate to claims that the organization is a scam and that trader accounts were frozen, grievances regarding the disappearance of funds, and complaints from members about an inability to withdraw funds. Other concerns have been raised about the unresponsive nature of the customer service provision and unclear terms and conditions, including trading processes.

There are a number of online complaints, too, stating that Option Stars Global removed money from members’ bank accounts without being given permission to do so and regarding the generally unscrupulous nature of the broker’s processes.

Can I Get My Money Back From Option Stars Global?

Yes, it is possible to get an Option Stars Global refund. To go about doing so, you have two options. Firstly, you may choose to pursue the matter yourself, tracking down and confronting all of the agencies who had any part in the scam and the movement of your funds. Alternatively, you could instruct a professional chargeback company to act on your behalf and fight your case for you. The latter option generally has the greatest chance of success as a chargeback team will have the industry knowledge, expertise, and experience with similar scams to act effectively.

What Is the Chargeback or Recovery Process?

To start the process of getting your Option Stars Global money back, first, choose a reputable chargeback company to work with – check online reviews from past clients and success rates as part of your research into the options available. Once you’ve decided on the team you wish to instruct, make contact with – most have an online contact form on their websites.

The chargeback representative will thoroughly discuss your case with you to ascertain if it has a high chance of success. If this is deemed to be the case, then it will be taken on by the company, and the process of document and evidence gathering will begin. Once this is completed, the team will pursue and confront all of the entities – both individuals and organizations – that had any part in the Option Stars Global scam in a bid to recover your funds. In the very likely event that this is successful, the money will be deposited directly into your bank account.

If you believe that you’ve been the victim of an Option Stars Global scam, then it is highly advisable to make contact with a chargeback company at your earliest convenience to take the first step in recouping your lost funds.