Verified: Spartan Forex company registered on May 27, 2014 and headquartered in Saint Vincent and the Grenadines is a broker that offers trading in Forex, cryptocurrencies, CFDs and other products.
As for regulation, it has been verified that Spartan Forex does not currently hold any valid license, so traders are advised to be aware of the risks.
Note: Spartan Forex is an unregulated broker, which means that clients' investments may not be adequately protected. The lack of regulation increases the risk of potential financial losses due to the lack of a regulatory body to hold companies accountable.
If investing with an unregulated broker, there's a good chance they'll run away with your hard-earned money without any recourse. Therefore, investors must be extremely cautious and remind everyone to stay away from these unregulated brokers as much as possible.
According to the company's official website:
SpartanForex is an Asia-based brokerage firm that offers leveraged forex trading services to clients worldwide. TradeForexOffshore, TradeSpartan, SpartanFX, and SpartanForex are trading names of Spartan Capital Services Corp.
The head of SpartanForex believes that the key to successful trading is self-discipline and risk management. Indeed, these two characteristics are necessary for survival, let alone success, when traders take advantage of a large amount of leverage when trading in the forex market.
SpartanForex provides education for newbies who want to learn to trade effectively, managed trading for those who want to participate in the forex market but don't want to trade on their own, and direct processing for experienced traders and newcomers.
SpartanForex claims that their mission and intention is to provide a platform and education to their clients so that they can earn much above-average returns from their venture capital.
Account Funding
Funds can be deposited into your SpartanForex account using the following payment methods. Account holders can request instructions via email.
1. Pay via Bank Wire Transfer
Bank Wire Transfer: International bank wire transfers are made through the SWIFT system, which can take several business days to complete. Spartan does not charge deposit or withdrawal fees. However, fees are charged by the originating bank, intermediary bank, and receiving bank.
2. Pay for Bitcoin and other cryptocurrencies with Bitcoin or Litecoin
: Bitcoin, Tether (USDT) on multiple blockchains, Litecoin, Ethereum, and other cryptocurrencies for transfers. There are no fees or very few transfer fees when transferring crypto from your wallet to ours.
3. UnionPay
UnionPay: Provides direct credit card processing services for Chinese customers.
Trading platform
SpartanForex offers their proprietary trading platform, Spartan Oracle, but it has been verified that the platform download address shown on the website cannot be opened.
Spartan Oracle combined with SpartanForex's Straight Through Processing (STP), No Dealing Desk Platform ExecutionLow
spreads – EUR/USD spreads as low as 0.5 pips (typical),
leverage up to 1:500,
24/6 customer support
,free trading signals
Trading Services
SpartanForex offers two trading options:
the Spartan Oracle trading platform – for experienced traders who can manage their own trades.
Active portfolio management – for traders and investors who don't have the time or want to manage their own accounts.
Experienced DIY traders
Straight-Through Order Processing (STP)Instant
execution, no rejection trades or requotesNo
restrictions on scalping, hedging, or trading systemsActive
portfolio management – fully manage
trades Depending on your long-term goals, risk tolerance, and time horizon, a professional currency manager will actively manage your portfolio based on your risk parameters. All transactions on custodial accounts are supervised by humans. Expert Advisors (EAs) can be used to automate the entry and exit of certain trades based on signals generated by EAs. EAs are programs installed on forex trading platforms that suggest trades and automatically execute trades (if programmed).
Unlike mutual funds or hedge funds that mix your money with other investors' funds, SpartanForex custodial accounts are opened in your name. You own currency contracts in your portfolio, so you can track the results of every trade and position in your account as if you were managing your account yourself. Your funds will still be freely used, just like any personal account.
Managed Account
Open your SpartanForex Client Portal account, and once the account is opened, you can create and fund a trading account on the platform of your choice. Trading can start in about 24 hours. In order for a third party to trade your account, the client must formally delegate trading authority to SpartanForex.
Note: Failure to complete the account application process, including providing all required documentation, within 40 days of opening an account may result in you not being able to withdraw funds until the account is approved by SpartanForex's compliance department.
Risks: Margin forex trading carries a high level of risk and may not be suitable for all investors. High leverage can be both beneficial and detrimental to you. Before deciding to engage in forex trading, you should carefully consider your investment goals, experience level, and risk appetite. You may lose some or all of your initial investment, so you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with forex trading and seek advice from an independent financial advisor if you have any questions.
SpartanForex also offers B2B and independent trader services, including white label brokerage, MT4 bridging solutions, and MAM/PAMM solutions.
Commissions
Trading fees for SpartanForex Standard Trading Group are charged in the form of commissions. Claim that the price comes directly from their liquidity provider, with no markup, and all trading costs are transparent to traders.
Their commission rates range from $5 to $25, depending on the account size and the frequency of trading associated with the account.
