FX.co ★ SpartanForex - Broker rating, review and comments

About company

SpartanForex is an Asia-based offshore forex broker that offers its clients to trade currencies, cryptocurrencies, metals as well as CFDs on indices and commodities. SpartanForex is a trade name of SpartanForex Limited. The company is licensed and regulated by the Vanuatu Financial Services Commission (VFSC). The broker focuses primarily on clients from Asia. However, SpartanForex does not accept customers from the US and Hong Kong. Under the VFSC regulation, brokers are obliged to follow certain rigid requirements. Thus, the clients’ funds should be kept in segregated accounts, i.e. separately from the company’s assets. This means that the broker will not be able to use customers’ money for its own purposes. However, VSFC shows a less strict attitude towards regulated companies which is not always favourable for traders. Therefore, we would recommend that you thoroughly study traders’ feedback about SpartanForex before trading and investing with this broker.

Trading conditions

• currencies, metals, indices, cryptocurrencies, commodities available for trading
• one account type
• micro lots trading
• demo account
• STP trading
• commissions apply
• МТ4 trading platform
• expert advisors
• trading course for beginners + free video lessons, e-books, articles, and webinars
• economic calendar
• free daily alert service
• access to outstanding fund managers
• fast deposits and withdrawals
• direct market access, no dealing desk
• no rejected trades
• all trading methods welcome
• daily analysis of European, US, and Asian markets

Trading platform

With SpartanForex, customers get access to MetaTrader 4 (MT4), the most popular trading platform among forex traders. The platform is available on computers as well as on tablets and mobile devices. The MT4 trading platform is easy-to-use trading software that provides traders with all the necessary tools to analyze the market price dynamics. МТ4 makes it easier to execute transactions as well as create and implement expert advisors (automated trading strategies). Traders especially favour this platform for a wide choice of different trading signals.

Support service

Customers can contact the support team by email, phone, or via a live chat.

Traders’ reviews

On the Net, you can find both positive and negative reviews about SpartanForex. Some traders point out that the broker provides extensive support for beginners. Besides, they are content with the user-friendly trading platform and a prompt response from the support service. Others, however, complain about a large minimum deposit, slow execution, and slippage.

Advantages:

• licensed and regulated broker
• high leverage
• great choice of trading instruments
• demo account
• МТ4 trading platform
• expert advisors
• plenty of free educational materials for beginners
• direct market access, no dealing desk

Disadvantages:

• large minimum deposit
• fees
• only one type of account
• slippage