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.