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Moon Star Review | A Safe and Profitable Trading or Scam?

by Kevin Berry
Rating: 
  1.1/5   Reviews: 5
Moon Star - logo

Moon Star is yet another CFD broker promising safe and profitable trading, assistance from professional managers, five-star service, and the best platform. However, it operates without any license from regulators. Such bold and confident statements no longer affect us, but newcomers might be swayed by the eloquent words and motivational phrases. The organization hasn’t provided any legal documents and hasn’t indicated its founding date or business model. Moreover, there are very few reviews about it online. We believe we’re looking at an obvious scam. If you want to know why, join us in our investigation.

Highlights

🏛️ Country
⚠️ Regulation
🖥️ Website https://moon-star.io/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $5,000
⚖️ Minimum and Maximum Leverage 1:10-1:50
⚙️ Trading Platform WebTrader
📨 E-mail support@moon-star.io, docs@moon-star.io
📞 Phone

First Impression of Moon-star.io

Upon entering the official website, we are greeted with a typical broker resource with a standard structure: a top panel with main sections about the company, platform, and trading conditions, and a small warning at the bottom about the risks of margin trading. The website’s interface is executed in various colors, lacking any taste or design. Moon Star touts its merits and advantages but fails to provide evidence to back them up.

Moon Star - site

The broker lacks specifics and details. There’s a lot of meaningless text that offers no value to users. The content is also riddled with clichéd phrases that immediately stand out and evoke more distaste than a desire to delve deeper into the platform or register an account. In short, Moon Star’s official website appears hastily made, using a ready-made template. It’s a dull and low-quality resource.

Partnership and Bonuses

Moon Star offers an affiliate program through which traders can earn additional income. It consists of three levels: a 5% reward for the first level, 2% for the second, and 1% for the third. Rewards are paid out once the referral makes a deposit. It is unusual because the standard affiliate program for brokers involves rewards paid out from traders’ commissions. Here, the affiliate program resembles those often found in HYIPs.

Additionally, Moon Star offers deposit bonuses to its clients. However, these bonuses come with specific conditions. A client must achieve a trading volume equal to the bonus amount divided by 4. For instance, if a trader receives an $800 bonus, they need to achieve a trading volume of 200 lots before they can withdraw this bonus and any profit made from it.

Account Opening on Moon-star.io

The registration process at Moon Star is no different than most other brokers. It starts with entering personal information: name, password, email, phone number, and country. If available, an invitation code can also be entered, and users must agree to the terms. Clients must be at least 18 years old.

Registration

After this, the personal cabinet opens. Notably, there was no requirement to verify the entered contact details, which represents a significant gap in account security measures. Moreover, we couldn’t find a demo account in Moon Star, meaning platform testing can only be done using real money.

The interface of Moon Star’s personal cabinet is quite intuitive and standard. It offers two themes: dark and light. Clients can track current trades and transaction history, upload documents for KYC, deposit funds, withdraw money, and edit personal details. It’s worth noting that most features, including access to the webtrader, are only available after account activation. To activate the account, one needs to get in touch with the managers.

Moon Star - personal cabinet

Verification

Moon Star adheres to AML&KYC policies, so trading without verification is not possible here. To undergo the KYC process, one needs to upload documents: proof of identification and proof of residence. The list of suitable documents is provided in the relevant section on the official website.

Pros
  • Uploading of documents is done through the personal cabinet.
Cons
  • The firm requires a photo of a bank card.

Trading Software

Moon Star’s trading platform is a webtrader, which is also available on mobile devices (iOS/Android) and PCs (Windows). The broker promises the following advantages and features of the terminal:

  • Advanced charts.
  • Market and pending orders, including stop-loss and take-profit orders.
  • Market data watch list.
  • Alerts.
  • Technical analysis and indicators. 35+ pre-installed indicators and 40+ graphical objects.
  • 21 different time frames.
  • Market depth information.
  • Tick chart trading.

Unfortunately, it’s not possible to test the platform in practice since one first needs to activate the account through customer support. This process is unclear and odd. It seems that Moon Star uses this method to encourage potential clients to deposit funds.

Features Moon Star Korata Exton Global
Demo Account
Mobile App ✔️ ✔️
Own Development

How Can I Trade With Moon Star?

Clients can trade CFDs on forex, metals, indices, stocks, commodities, and cryptocurrencies. However, the conditions and additional features in Moon Star depend on the chosen account type.

All Info About Accounts

Moon Star offers five different tariff plans. We were astonished by the broker’s minimum deposit requirements. The first tariff demands a deposit of $5,000. It seems utterly outrageous. While popular and trusted firms allow starting even with $1 in one’s pocket, here one needs to deposit substantial amounts of money. So, what do the owners of the “Beginner” account type, where the minimum deposit is $5,000, get? Leverage up to 1:10, a dedicated manager, full support 24/5, free VPS, and a minimum trade size from 0.01 lot. Essentially, only the “dedicated manager” service holds any significance, and even then, the quality and experience of this “pro” are highly questionable.

Account types

The second account type, “Trader”, requires a deposit of $10,000. The only difference is the leverage up to 1:20. What’s the distinction? What’s the point of this tariff if it barely differs from the first one? The third tariff, “Expert”, offers a single difference – trading signals. However, there are no statistics on these signals. Are they even profitable? The fourth and fifth account types in Moon Star start with astronomical amounts that few would dare to invest, especially since the firm isn’t popular, offers unclear conditions, and significantly lags behind competitors.

Moreover, the size of commissions and spreads is unknown. So, the company adheres to a policy of secrecy and opacity, as well as the principle of extorting money with the mindset of “pay more money to get more services”. Both of these are glaring signs of a fraudulent broker. It seems our suspicions regarding Moon Star’s reliability have been confirmed.

Pros
  • None.
Cons
  • Inadequate minimum deposit requirements.
  • No demo account and swap-free option.
  • Hidden commissions and spreads.

Market Analysis and Education With Moon-star.io

In addition to assistance from a personal manager and other features described in the tariffs, Moon Star provides online stock and cryptocurrency quotes taken from the popular service, TradingView. There’s also an FAQ section, basic information about the traded asset classes, and an analytical section with widgets and tools: exchange ticker, technical analysis, market quotes, trading hours, and an economic calendar.

Deposit, Withdrawal, and Fees

Before depositing, it’s essential to activate the account. Moreover, the money transfer must be made by the same person who has verified the Moon Star account. The list of deposit and withdrawal methods isn’t disclosed, but it’s known for sure that credit/debit cards are supported. Fees and the processing time for withdrawal requests are also not specified.

Features Moon Star KLG-ctx  SageFX
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee

How Can I Contact It?

For communication with managers, only email is available. There’s no phone number or online chat. It’s also worth noting that Moon Star doesn’t have any social media accounts, even though it’s a crucial attribute for any online business.

Pros
  • None.
Cons
  • Many methods of communication are missing, such as a phone number.

Is Moon Star Dangerous?

The official website, mandatory account activation through a conversation with managers, inadequate and non-competitive trading conditions, the absence of a demo account, and the company’s secrecy – how many more red flags can one find with this broker? We still need to check the legitimate status and the company’s operating period. Then we can deliver a verdict on Moon Star.

How Long Does The Broker Work?

The foundation date is crucial for any broker. After all, the longer an organization has been operating, the more reliable and tested it is. However, when Moon Star was founded remains unknown because the website doesn’t mention it, and the registration documents with essential information are missing. The domain registration date and the few reviews online suggest that the company launched quite recently. It happened in May 2023, as that’s when the website’s domain was registered.

Domain

How Is Moon Star Regulated?

Regulations and licensing by the company are also not mentioned on the official website. What’s also notable is the absence of a legal address. When clicking “contacts” in the personal account, a window pops up stating: “This site operates under the Moon Star brand name within the European Economic Area”. However, there’s no specific address anywhere. It’s evident that the company doesn’t have a license, as any broker with regulation would surely provide this information on their website. Moreover, the absence of a legal address, documents, and other essential data also confirms the illegal status of the organization.

Economic area

Features Moon Star Lyraten  CryptoSTADT
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With Moon Star?

First, you need to register an account by providing personal details. Then, you must contact the broker's managers to activate the account. After that, you can proceed with KYC and depositing funds. However, a demo account is not available.

Is Moon Star Legit?

The company doesn't mention any licenses on its website. Also, a legal address and documents are missing. The broker operates illegally, and there's a high probability that it's not even legally registered.

How Risky Is It?

Trading with Moon Star is a 100% risk. Such firms invariably turn out to be scams, so your money will be stolen.
Kevin Berry
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Expert Opinion

I wonder if there are people who believed the scammers and invested money? Because the minimum deposit at Moon Star is very high, hardly any beginners could afford $5,000. At the same time, the number of negative factors with this broker is off the charts. There are terrible trading conditions, a lack of reviews online, and complete secrecy and anonymity of the company. The scammers didn’t even provide a legal address or founding date. Have you ever seen a safe intermediary not providing essential details? I haven’t. And here, nothing is known about the firm. Does it even exist? Judging by everything, it doesn’t.

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Moon Star rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

5 reviews about Moon Star

Jordan October 5, 2023 - 18:02
Made a request, they're not responding
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I emailed them, but never received a response. I made an inquiry to Moon Star regarding licenses and other guarantees. It’s been two weeks now, and I’m still waiting for a reply. I suspect it’s just a fraudulent firm posing as a brokerage intermediary, but in reality, they’re stealing people’s money. However, I could be wrong.

Reply
Useless October 16, 2023 - 12:38
Here is an example of a scam broker
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Here’s an example for everyone of where you definitely shouldn’t trade. Moon Star is a lousy scam broker with fake advantages, a fake platform, and fake trading. There’s nothing genuine or real here. The only thing real here is the scam, and that’s it. Nothing more. Be prepared for these scammers to steal all your money and take it for themselves.
There’s no license here, no legal address, and no legal documents. The founding date isn’t mentioned, but this scam began its fraudulent activity only in 2023 and is unlikely to last much longer.
Most likely, we’re dealing with a serial scam project. Most likely, Moon Star has similar scam websites, created by the same anonymous group of fraudsters. In short, there are plenty of downsides and red flags here. One thing is for sure and clear, it’s a scam and fraud broker. So, please don’t even think about investing here. Don’t feed the fraudsters, swindlers, and criminals with your money.

Reply
Arie December 29, 2023 - 19:29
Moon-star.io is really 100% scammer
The level of trust
Quick withdrawal of funds
Efficiency of technical support

In recent days (9 November) I came into contact with Moon-star.io arbitration.
They called me for several days for transfer my wallet to their platform for more profits.
An arbitrage analyst from Moon-star.io took over my screen with Quick support and transferred my wallet from Bitvavo to my Trust Wallet and then sent it from my Trust wallet to their platform.
I think I made a very wrong move in giving this permission to him. I doubted this when he asked me:
If someone from Bitvavo asked you if anyone helped you with this campaign, you should say NO.
After two days I asked him to withdraw my wallet and send it to my Trust Wallet. He said I can do it but I can not send it to Trust Wallet. I can send it only to Exodus. I said OK. He did it and send my balance 2960 euro to my Exodus.
After that he said you should not see the amount on your Exodus. He said you at leest have to 10 percent of BTC on your Exodus.
Then I understood that he is a real scammer. Since then, I have sent two emails to them, but have had no response while they have called me dozens of times so far. On advice, I didn’t answer their phone. Please don’t trade with them. Moon-star.io is dangerous.

Reply
Jvdv January 11, 2024 - 19:13
Once you got in they ask more and more
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Moonstar io likes to get all they can from your account by telling about insurances and nonesense they ask more and more money before you are able to withdraw. Now the withdrawal has been on hold because a background check about the invested money is requiered. The way to check my bank account money is by sending 50% to a wallet provided by Fenra or some similar name i dont know. I guess I can say Goodbye to my hard needed money. I can provide the request as shown to me.

Reply
charly January 17, 2024 - 15:34
opgelicht
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Ja ik was te laat, had mij er eerder in moeten verdiepen. ruim 50.000.= weg, ben er ziek van.

Reply

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