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SpartanForex is an Asia-focused brokerage company providing leveraged foreign exchange trading services to clients from around the world. The broker offers training services for beginners who wish to learn to trade effectively and provides managed trading for those who want to enter the forex markets. As stated on the website, the company`s mission is to provide the platform and education so that investors could achieve well above average returns on their risky trades. The company is supervised by the Ministry of Finance and Economic Management of Vanuatu. The broker uses segregated accounts to keep customer funds.
Trading conditions
The broker offers its clients to trade the following instruments: currencies, indices, metals, commodities, natural resources, and cryptocurrencies. The minimum account size is $25. The amount is considered quite affordable, even for novice traders. The broker offers only one live trading account. Besides, beginners have the opportunity to start trading with the help of a demo account. To open a live SpartanForex trading account, you must submit an application and accept the User Agreement. Once your application is approved, you can set up a live trading account. You will have 30 days to fund it.
Spreads start from 0.4 pip. However, they are not fixed, so they will change depending on market behavior. The leverage is 1:500.
Trading platforms
SpartanForex clients can conduct trading through the following two trading platforms: the most popular MetaTrader 4 platform and the company`s own development - MC-cubed.
Support service
In order to receive assistance, you can contact the company manager in several ways:
- by phone number
- through the service of client requests by email
- via skype and live chat.
Deposit and withdrawal of funds
Clients can deposit and withdraw their funds through bank transfers, debit or credit cards, as well as using the electronic payment systems such as China UnionPay, Neteller, FasaPay, ecoPayz, iAccount, and MegaTransfer online wallet. The broker also accepts payments in Bitcoin, Litecoin, Ethereum, and Zcash.
Feedback from traders
There are many negative reviews of the company on the web. Traders complain about slow execution, slippage, as well as problems with the withdrawal of funds. At the same time, there are some positive comments, including ones from novice traders. They are pleased with the affordable initial deposit. Some clients say that their cooperation with SpartanForex is profitable. You should note that any reviews, both positive and negative, can be fake.
Advantages and disadvantages
Advantages:
- regulated broker
- affordable initial deposit
- wide range of trading instruments
- demo account available
Disadvantages:
- offshore broker
- negative feedback from traders.
Conclusion
SpartanForex is an offshore broker. Before investing, you should gain a greater insight into the company`s experience, its trading conditions, and study the feedback from traders. The reviews of SpartanForex are mixed. As for trading conditions, the broker offers a standard package of services: live and demo accounts, a reasonable initial deposit, and a popular trading platform.
