SPX Markets is an offshore Crypto and Forex CFD Broker, that opened in June 2020. The FCA has warned investor not to use this broker, read more.
For complaints or withdrawal problems, read this.
SPX Markets Review
Our review of the broker called SPX Markets finds, that the trading app they are offering investors is a white label software. They only offer a simple web-based CFD trading platform, and we could not find the Forex industry standard MT4 or MT5 trading apps. Most day traders in Canada are using the CFD broker ForTrade.
Take a look at the screenshot below, and you can see what the web-based trading platform looks like. You will see hundreds of underlying assets available for CFD trading against the Dollar or Bitcoin including; Shares, Crypto Currency, Forex Pairs, Stocks, Commodities and Market Indexes. The SPXMarkets website and trading platform is available in English or German.
They offer different account types, which require a large deposit, and the touted benefit is an account manager. Utilizing an account manager in CFD trading is not a recommended endeavor, as they profit from your losses. Minimum deposit for a bronze trading account is $1000, and they only take credit cards.
Scam Trading Apps
Warning! Before investing with an automated trading system, you should know that 99.9% of people lose money that way!
Many people read what looks like a legitimate article, about someone who made money using a trading app like “Bitcoin Era”. However, the only person making money from it, is the one who wrote the article! For a detailed explanation of how these scams operate, you should read this article.
Do your research, and first try making money are licensed broker that give you Trading Central alerts, see here.
Is SPX Markets a Regulated Broker?
Yes, SPX Markets is technically a regulated broker. They are officially owned by; Secure Currency Limited, Govant Building, Kumul Highway, 1st Floor, PortVila, Vanuatu. Secure Currency Limited is licensed by the Vanuatu Financial Services Commission, with licensed number VFSC: 14616. Their address in United Kingdom is just a PO Box at: 1 Canada Square, Canary Wharf, London E14 5AA. Official website is: https://www.SPXMarkets.com/. Contact phone number is: +442045428087, and their email address is: [email protected].
Scam Broker Investigator uses a simple method to determine if a Forex broker is legitimate or a scam broker. We check to see if the broker is licensed and regulated by any one of the popular government regulators like; IIROC Canada, FCA United Kingdom or ASIC Australia. All online brokers for Crypto or Forex, must be licensed and regulated by the financial regulatory agency in their country.
You can find popular Forex brokers that are licensed and regulated listed here.
Compare Popular Brokers
There are many Crypto and Forex brokers to choose from today, and therefore, you should first look at some popular licensed brokers.
ForTrade is a popular broker for new CFD investors, because ForTrade is regulated in Australia, England and Canada, see here.
Try a Free Demo of their easy trading app, register here.
If you are already investing with SPX Markets, please share your experience with other investors reading this review.