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About the company:
SpartanFX is an offshore Forex broker that offers trading currency, metals, Bitcoin, Litecoin, Ethereum, Zcash, CFDs on indices and commodities.
Company. Security of funds
TradeForexOffshore, Spartan Forex, and SpartanForex are the trade names of SpartanForex Limited, which is licensed and regulated by the Department of Finance and Treasury of the Republic of Vanuatu. The broker does not accept customers from the US and Hong Kong.
SpartanFX focuses primarily on clients from Asia.
Customers’ funds are kept in segregated accounts. A segregated account is a separate account used by brokers to store clients’ funds independently of the company’s assets. This means that a broker will not be able to use money of the customers for its own purposes. But VSFC shows a supportive attitude towards regulated companies. Therefore, due to the fact that the broker is in an offshore zone, we recommend you to study traders’ feedback on SpartanFX before investing and starting trading.
Transactions in SpartanFX are processed instantly by the STP technology, bypassing the dealing center. Apparently, there is only one account type in the company, with the help of which you can trade micro lots. There is also a demo account for testing the platform or just learning.
Minimum initial deposit
If you decide to open an account with the company, you need to deposit a minimum of $25. This amount allows traders with a limited budget to start trading.
Spreads and commissions
As indicated on the site, spreads start from 0.4 pip. However, you can meet such a value only under favorable trading conditions. And the market, as we know, is changing quite quickly. Nevertheless, this is a low value, given that in some companies spreads start from 2 pips.
We did not find any information on whether the broker charges a commission from its customers or not. At least, there is no mention of it on the website of SpartanFX.
The leverage of up to 1:500 is available in the company. This is a high level of leverage which can be offered only by some brokers. Using the leverage, a trader can quickly raise the initial capital or earn an amount equal to it. However, the leverage will also increase the loss amount in case of failure.
Like the great majority of Forex brokers, SpartanFx offers the popular MetaTrader4 platform (MT4), which you can open directly in the browser window, download the application for computers or mobile devices.
For more than 10 years, MT4 has been the favorite among brokers and traders in the online trading industry. MT4 is still much more popular than its successor MT5, despite the fact that the latter is considered more advanced.
The platform is user-friendly and supports several types of orders, hedging, and advisors. MT4 also provides various tools for graphing and technical analysis as well as many other options.
Training and analytics
SpartanFX provides its traders with educational materials: free videos and articles, electronic books. There are also webinars for traders of different levels.
It offers daily analysis of the markets of Asia, Europe, and New York; a news feed; and an economic calendar.
Phone, email, online chat, and Skype are accessible ways to contact the support service. The site is available in English. Logining in, traders can choose some of the Asian languages.
In addition to the standard methods of depositing, there are bank transfers and credit/debit cards. The broker also uses such payment platforms as China UnionPay, Neteller, FasaPay, ecoPayz, iAccount and the MegaTransfer e-wallet. Besides, SpartanFX accepts payments in Bitcoin, Litecoin, Ethereum, and Zcash.
SpartanFX 1/10 (votes 2197)