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SpaceMarket does not segregate funds in a separate account. Offshore entities even change their terms and condition inflicting hefty charges to their victims. They even ask for more money for them to process your withdrawal requests. Invest with genuine forex firms.
SpaceMarket is a forex trading company. The entity claims that investors can execute the trade at a fast speed. The broker is allegedly transparent and assures investors that everything is handled professionally. However, investors should not be easy to trust every venture that approaches them.
The entity claims that it is a customer-oriented venture. The entity brags it provides the best trading conditions for investors. Once you join the broker, the firm assures you that you shall get multiple advantages.
However, multiple investment firms in the market are legit. SpaceMarket makes the best is, unfortunately, an offshore firm. The government does not regulate them. Therefore, trading with them will only make you regret it.
Nonetheless, the venture claims to use innovative technology. We do not recommend investors use this scheme. We have concrete information that shows this is a scam. The only thing that the broker is after is to get your hard-earned money.
Instead of risking your safety in a venture that is not transparent, utilize the best forex trading brokers. These entities are genuine and regulated. Therefore, you will generate real time profits with them. The trading conditions consider the interest of clients.
SpaceMarket is a bad choice for an investment scheme. The venture nonetheless markets itself as a broker with multiple opportunities for traders. They also boast about having a variety of trading assets. Investors can trade over 60 currency pairs.
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The company has many trading instruments meant to assist clients in their daily activities. The leverage cap of this venture is very tempting. However, we recommend that you trade safely. If you do not look after yourself, then con artists are going to exploit you.
SpaceMarket has four trading accounts. Investors can therefore select the one that best suits them. Unfortunately, this firm is anonymous, and there is nothing great coming out of this company. Whoever is behind this entity only built a beautiful website.
Additionally, we also highly suspect the entity is not trading. The platform is new in the industry. They need to build trust with investors to win them over. There are pioneer firms that the company is competing with.
The only thing that we see is red flags. The legitimacy of the broker is in question. Additionally, the platform is accepting investors from all over the world without meeting the requirements. It is best to avoid depositing money in this venture.
Who is Behind SpaceMarket?
SpaceMarket is a venture that embraces anonymity. They do not disclose the people that are running their daily activities. The law requires a company to disclose the people managing the accounts of investors. Unfortunately, in this suspicious firm, there are no faces or qualifications of personnel showcased. Once they decide to go out of the market, it is going to be an impossible mission.
Trading Conditions of SpaceMarket
The platform does not offer the popular MT4/MT5 trading interface. Investors can use a web-based platform. The two software are incomparable. The EURUSD currency pair offers a spread of 3 pips that are not close to the market standard.
SpaceMarket does not have competitive products. You will not make any profits with this firm. Their leverage is 1:300. The cap is beyond what the financial bodies permit. The minimum leverage is 1:100, which is still dangerous for clients.
The company is looking out for itself only, and they are pushing traders to risky positions. Licensed platforms usually have the leverage of 1:30 up to 1:50. This protects clients from losing money.
Withdrawal and Deposit
The company allegedly accepts deposits via Wire transfers, Visa, and MasterCard. We cannot verify whether this is the real payment means. The least amount of fund that you can cash in is $250. Nonetheless, we recommend that you use the credit card option since it is the safest.
You can issue a chargeback if things go south. The entity offer bonuses to their clients. However, the government does not allow entities to provide such lucrative. This is because the money legally belongs to the platform. Therefore, traders must meet absurd trading volumes.
In most cases, you will never be able to withdrawal the promised returns. Moreover, information regarding the account inactivity is missing. It is a major red flag, and a legit broker will have all the necessary info for their clients.
The Customer Support and Contact Details
The location of SpaceMarket is at 9 Copthall, Roseau Valley, 00152 Commonwealth of Dominica. You can contact customer support via filling in a contact form or email. The entity brags that it has multi-lingual customer care.
You can reach them whenever the need arises. However, we cannot attest whether they are responsive. The firm does not have a phone number. Unfortunately, you cannot rely on an offshore broker. They will leave you high and dry. Moreover, they will ignore your messages and exit the market when you need them the most.
Invest with legit forex trading companies that invest highly in hiring the best-qualified customer care team. They will treat you as a priority,. The support is also responsive and friendly.
Is SpaceMarket a Legit Company?
No, the venture is not licensed to collect funds from investors. Widdershins Group LTD is the corporate that is responsible for the activity of this broker. It has a registration form from the commonwealth of Dominica. Sadly, this Island does not oversee the operation of forex brokers.
Therefore, the platform is operating against the law. The reason that they choose such an area is to avoid paying tax. Additionally, the firm does not have to comply with the rules and regulations set by strict financial bodies in the market.
Investment ventures must comply with the regulation of the countries they are accepting investors from. SpaceMarket may exploit investors, knowing you cannot take them anywhere. You are at their mercy, and in most cases, it never ends well with suspicious brokers.
SpaceMarket does not segregate funds in a separate account. Offshore entities even change their terms and condition inflicting hefty charges to their victims. They even ask for more money for them to process your withdrawal requests.
Furthermore, the parent company of this venture is exposed as a scam. CONSOB has issued a warning against this venture. The corporate is running multiple Ponzi schemes in the industry. They are professional in defrauding investors.
Suppose you want to trade first research to determine whether an entity is licensed. It will save you the trouble of dealing with scammers. The best companies are transparent. They also work with the tier 1 banks to safeguard the money of traders.
SpaceMarket is a platform that is managed by notorious fraudster corporate. The entity is, therefore, another Ponzi scheme in the making that wants to steal from naïve traders. The trading conditions of this broker are unfavorable. They will not hesitate to steal from you.
The company lacks a trading history. They expose their clients to severe danger. We do not know the minimum amount to cash out. Additionally, the traffic visiting this website is minimal. The con artist remains unknown as they are observing high-level discreet.
Invest with legit forex trading brokers that are transparent and reputable. You have the assurance that your money is in safe hands. Furthermore, you can trade with confidence. The best ventures protect their clients against all odds. They focus more in attaining customer satisfaction.