Space Markets Forex Broker

Space MarketsReview Summary Founded2023-03-15 Registered Country/RegionSouth Africa RegulationUnregulated Market InstrumentsForex, Indices, Stocks Demo Account/ LeverageUp to 1:2000 SpreadFrom 0.0 pips Trading PlatformMT5 Min DepositR50 Customer Supportsupport@spacemarkets.io 010 035 5120 WhatsApp: 071 339 7548Space Markets Information Space Markets (Pty) Ltd is a brokerage firm in the forex trading industry. It offers various types of foreign exchange trading accounts, including Standard Account, Pro Account, etc. The minimum deposit is only R50, which provides investors with a relatively low trading threshold. The platform supports the MT5 trading platform and is equipped with a variety of trading functions and tools. It provides foreign exchange trading, and also covers index trading and stock trading, with a relatively rich range of trading products.Pros and Cons Pros Cons Various trading toolsUnregulated MT5 availableTrading involves risks Minimum deposit of R50Some unclear fees Leverage up to 1:2000 Spread as low as 0 pipsIs Space Markets Legit? Space Markets (Pty) Ltd claims to be a financial services provider registered with and regulated by the FSCA, but there is no clear evidence.What Can I Trade in Space Markets? Space Markets offers forex trading, including major currency pairs (such as EUR/USD, GBP/USD), minor currency pairs, and exotic currency pairs. Traders can also choose index trading and stock trading. Tradable Instruments Supported Forex✔ Indices✔ Stocks✔Account Type Account Type Standard Pro SniperUltra Micro Space 100Swap Free/Islamic ECN MinimumR50R50R50R50R50R50 Spread1.5 pips0.0 pips0.0 pips0.5 pips0 pips0 Pips Commissions$0$7$0$0$0$10 Bonus0%0%0%0%100%0% PlatformMT5MT5MT5MT5MT5MT5 Max Leverage1:20001:5001:10001:5001:5001:500 Zero IndicesNoNoYesNoNoNoSpace Markets Fees The spread of most accounts can be as low as 0 pips, or there is no direct commission. However, there is a commission cost of $150 per lot for zero-spread indices. For specific commissions, you can refer to the information about account types.Leverage The maximum leverage is 1:2000. The leverage is set at different ratios based on the account balance/net worth. Different account types also have their respective maximum leverage limits. For example, the maximum leverage of the sniper account is 1:1000. Account balance/net worth range (USD) Maximum leverage ratio 0 - 1,0001:2000 1,001 - 2,0001:1000 2,001 - 5,0001:500 Above 5,0001:300Trading Platform The platform provides the MT5 trading platform, which offers real-time market data to help traders keep abreast of market dynamics. At the same time, it supports trading on mobile devices, facilitating investors to participate in trading anytime and anywhere.Deposit and Withdrawal Space Markets supports various methods, including traditional bank transfers, credit/debit card transactions, e-wallet payments, etc., for deposits, and the funds can arrive quickly. The withdrawal process is also convenient, and the platform promises to complete withdrawals within 24-48 hours.Bonus Only the Space 100 account offers a 100% bonus, and there is no bonus for other accounts.