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SPARTANFX

SPARTANFX
About company:

SpartanFX is an offshore Forex broker that offers Forex, Metals, Bitcoin, Litecoin, Ethereum and Zcash cryptocurrencies, Indices, Minerals and Commodities CFDs.

 

Company. Fund security

TradeForexOffshore, Spartan Forex and SpartanForex are trade names of SpartanForex Limited, which is licensed and regulated by the Vanuatu Ministry of Finance and Economic Administration. The broker does not accept clients from the United States and Hong Kong.

 

SpartanFX focuses primarily on clients from Asia.

 

Client funds are held in segregated accounts. A segregated account is a separate account used by brokers to keep client funds separate from the firm's assets. This means that the broker will not be able to use clients' money for their own purposes. But VSFC is loyal to regulated companies. Therefore, due to the fact that the broker is located offshore, we recommend that you study the reviews of traders about SpartanFX before investing money and starting trading.

 

Trading conditions

Transactions in SpartanFX are processed using STP technology instantly, bypassing the dealing center. Apparently, the company has only one type of account that allows trading micro-lots, all trading methods. There is also a demo account that you can use if you want to test the platform or are just learning to trade.

 

Minimum initial deposit

If you decide to open an account with the company, then you need to deposit at least $ 25. The minimum deposit allows even traders with a limited budget to start trading.

 

Spreads and commissions

Spreads, as indicated on the website, start at 0.4 pips. However, do not expect that you will see such a value all the time, only under favorable trading conditions. And the market, as we know, is changing quite quickly. However, this is not a high value considering that in some companies spreads start at 2 pips.

 

We were unable to find information on whether the broker charges their clients a commission or not. At least SpartanFX does not write anything about this on its website.

 

Leverage

Leverage is available up to 1: 500. This is a high level of leverage that not all brokers can offer. Using leverage, a trader can quickly increase the initial capital or earn an amount equal to it. However, leverage will also increase the size of your loss if you fail.

 

Trading platforms

Like the vast majority of Forex brokers, SpartanFx offers the popular MetaTrader 4 (MT4) platform, which can be opened directly in a browser window or downloaded for desktop or mobile devices.

 

MT4 has been a favorite among brokers and traders in the online trading industry for over 10 years. MT4 is still much more popular than its successor MT5, despite the latter being considered more modern.

 

The platform is user-friendly, supports several types of orders, hedging and advisors. MT4 also provides various charting and technical analysis tools and many other options.

 

MT4 is still much more popular than its MT5 successor, even though the latter is more advanced.

 

Training and analytics

SpartanFX provides its traders with educational materials: free videos and articles, e-books. There are also webinars for traders of different skill levels.

 

Analytics include daily analysis of the markets in Asia, Europe and New York, news feed, economic calendar.

 

Support service

Phone, email, online chat and skype are all available ways to contact support. The site is available in English, traders can choose some of the Asian languages when entering their personal account.

 

Ways of payment

In addition to the standard deposit methods - bank transfers and credit / debit cards - the broker also uses the payment platforms China UnionPay, Neteller, FasaPay, ecoPayz, iAccount and the MegaTransfer online wallet. In addition, SpartanFX accepts payments in Bitcoin, Litecoin, Ethereum and Zcash.

 

Pros:

 

low minimum deposit; MT4.

 

Minuses:

 

offshore broker.

 

 

SPARTANFX is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.

In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.

The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.

What is the benefit of a broker?  

 

The broker SPARTANFX makes profit from traders' transactions, as a rule, in two main ways.

The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.

The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.

Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.

 

Ways to cheat customers  

 

We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.

The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.

Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.

In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.

 

Where are brokerage companies registered?

 

One of the key points is the place of registration and regulation of the company's activities.

Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.

However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.

If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.

But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.

And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization,   considering disputes between its members - brokers and their clients.

If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.

 

What else to pay attention to?

 

When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.

It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.

Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.

Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.

Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.

FAQ - broker questions

  • 1. Do the trader reviews impact on a rating of SPARTANFX ?

    Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker.

  • 2. How to leave a comment about SPARTANFX on the website 4ex.review ?

    In order to leave a review about the broker, go down page, enter a valid email and Your review with an overall score. Reviews are moderated and tracked by the number of comments from the same IP or email. Tech support may request the actual documents that prove that the user was or is a customer of the broker. This rule applies to negative and positive reviews. We want our portal to be honest and independent.

  • 3. Can we assume the broker SPARTANFX decent?

    Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. SPARTANFX received a score of 1 of 5 on our resource.

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