Spmarket24 Review: Spmarket24.com Scam!

Spmarket24 Review, Spmarket24 Company
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Spmarket24 Review
  • Fund Safety
  • Regulation
  • Customer Support
  • Client Feedback
1.1

Summary

Spmarket24 is a forex broker that promises its client’s faster and easier execution of trades. Additionally, the platform offers educational material on forex trading.  Unfortunately, the platform is a scam only interested in investor’s money. Choose to invest with reputable forex trading brokers.

There are too many companies offering forex brokerage services. Unfortunately, most of them are fraudulent operations only after people’s money. Before investing, investors should do enough research to avoid these scammers. Ensure a company can assure you of your funds’ safety before investing. Spmarket24 is an investment firm that deals with the trade and brokerage of CFDs on forex. It is a registered entity in the Marshall Islands, an offshore country in the pacific.

Spmarket24 Review, Spmarket24 Company

Additionally, they claim to have 20 years of experience in the market, which is a lovely resume.

They promise easier and quicker services to their clients, and this is very attractive. Sadly, this is a standard narrative among all scammers. They will do anything to convince clients to invest with them.

Luckily, there are many legitimate forex brokers in the market. They have been there for a long time and have massive experience. They deliver services with full transparency as promised.

Additionally, they operate under stringent regulation. These companies will serve you without compromising on your peace of mind. If you are new in the forex market, beware of companies that paint a good picture of themselves.

Spmarket24 Review

There are several assets that you can trade on Spmaket24.com. These include indices, commodities, stocks, and crude oil. Some of the commodities they deal with are, Metals such as gold, platinum, and copper.

The company promises to provide the tools you need to meet your goals. However, this company may not be what they want you to believe. They claim to have global recognition. Unfortunately, this is not true. This company has only been around for less than a year. There is no way they are as popular as they want you to believe.

Spmarket24 promises to make trading easy for clients. To ensure this, they promise no hidden charges and no surprise. Additionally, they promise excellent trading and learning support. For this, they promise free forex trading education.

However, it is impossible to determine the value of this free trading education. This is because the company does not reveal who their experts are. It is impossible to know what kind of trading experience these people have.

Customer Support.

A reliable customer support system is necessary. It helps the clients keep in touch with the company in case of an inquiry, comment, or problem. SpMarket24 provides a few platforms for this. Firstly, they have a phone number with which you can reach them. This number is +41 626 746 727.

Spmarket24 Scam Review, Spmarket24 Contact Information

Additionally, you can reach them via the email support@spmarket24.com.  Also, there is a live chat option. However, it seems not to work. The company also provides a few links to some social media platforms. Unsurprisingly, these links do not work. This shows unprofessionalism by the people running this company. Scam platforms do not pay much importance to customer support, yet it is crucial in every organization.

Account Types

Spmarket24 provides several account types for clients. First, the Mini account. It is suitable for novice investors who would like to start their forex career at a slower pace. The minimum deposit is $250 with leverage of up to 1:50. The option of hedging and expert advisors is also available. However, no personal trading trainer, SMS trading alerts, nor VIP trading support.

The second account is the Bronze account. This account is suitable for those willing to delve deeper into the forex world hence a higher minimum deposit. The minimum deposit is between 5,001 dollars to 10,000 dollars.

The Bronze account has several perks over the Mini account. These include a personal trading trainer, and traders get SMS trading alerts. However, you don’t get the option of a VIP trading support.

The third account is the Silver account, their best-selling account. Traders start with a minimum deposit of between 10,001 and 15,000 dollars.

The fourth and final account is the Gold account. This one is for ambitious traders wishing to take advantage of all features. The minimum deposit is 15,000 plus dollars.

Both the silver and gold account offer the option of VIP trading support.

Spmarket24 Founders and Physical Location

For full trust and credibility, it is good to know those behind a company. Unfortunately, we do not know the founders of Sparks24. Do not invest with mysterious people on the Internet. It is common for fraudsters to hide their identities on the Internet. This way, they can easily escape the law after committing a crime. Those who get scammed cannot file a legal claim against them. Run while you still can.

Spmarket24 is a firm in the Marshall Islands. An offshore country. Sadly, this is no good news. It’s a country with a horrible reputation. The Marshall Islands is a jurisdiction with very lax laws.

Consequently, it’s a hotbed of scammers and fraudulent companies. Safety of your funds is not guaranteed. If lost, the laws of the country may not help you recover your funds.

They are operating from this country for a reason. They are only looking to scam people and quickly get away with it.

Regulation and Fund Safety

Always invest with well-regulated companies to ensure your funds are safe. Well regulated companies meet all the legal requirements to operate in a country. Unfortunately, there is no reliable forex regulator in the Marshall Islands.

Consequently, this company has no regulation. There are too many risks in investing in unregulated companies. They are operating illegally. This means they are at the risk of getting closed by the law.

Consequently, this company cannot assure you of your funds’ safety. Regulatory bodies ensure companies have the right banking set up to protect customer funds. As this company is unregulated, there is no assurance of the right conditions.

Spmarket24 Domain Insight.

The company’s official domain is spmarket24.com.The company states that it has been in the market with an experience of over 20 years. This is very attractive as you can work with people with proper knowledge in forex trade.

However, this does not seem to be the case. A quick search on Whois.com paints a different picture. First, they lied about their experience. The official registration date for the company is April 13th 2020. There is no good reason to lie to investors about their period in the market. The only reason they would do this is if they are scammers.

Also, their rank in terms of traffic on this website is deficient. They rank 2,042,286. This is very low for a company that claims to be very popular globally.

Final Verdict

This company is very untrustworthy. It operates in a country with shady laws. Consequently, the company is providing financial services without regulation. This is illegal in many jurisdictions. Moreover, it is very risky to trade with unlicensed platforms, and your fund safety is compromised.

Even worse, the founders are unknown. Always invest with companies that reveal their full list of founding members. There are just too many risks involved in this case. Knowing the founders means there is someone responsible in case something happens. Moreover, we cannot tell the value of the educational material they offer.

Luckily, there are many legitimate forex brokers in the market. Such companies have been in the market for long and have proven full transparency over time. When it comes to brilliant services, they deliver. Additionally, they have proven to be fully transparent, competitive and reliable.

 

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