SpectraFX Forex Broker

Note: SpectraFX's official website: https://www.spectrafx.co/ is currently inaccessible normally.SpectraFXReview SummaryFounded/Registered Country/RegionUnited KingdomRegulationNot regulatedMarket Instruments80 major and exotic currency pairsDemo Account/LeverageUp to 1:1000SpreadFrom 1.2 pips (Standard account)Trading PlatformMT5Min Deposit$5Customer SupportEmail: info@spectrafx.coAddress: 76 Blenheim Road, Cheadle Hulme, Cheshire, UNITED KINGDOM, SK8 7BA SpectraFX is an unregulated broker, claiming to offer over 1100 trading instruments including 80 major and exotic currency pairs with leverage up to 1:1000 and quite low minimum deposit requirement of only $5.Pros and ConsPros Cons Popular trading platform MT5Lack regulationLow minimum deposit on the Micro accountLimited trading asset classesUnavailable websiteLimited contact methodsLack of transparencyIs SpectraFX Legit? No, SpectraFX.co is not regulated by any financial authorities currently. Traders should be careful when trading.What Can I Trade on SpectraFX? SpectraFX claims to offer over 1100 trading instruments, including 80 major and exotic currency pairs. Other popular trading asset classes like commodities, indices, stocks and cryptocurrencies are not supported.Tradable Instruments Supported Currency pairs✔Metals ❌Energies ❌Cryptos ❌Indices ❌Stocks ❌Options ❌Account Type SpectraFX offers three account types: Micro, STANDARD and ECN.Account TypeMinimum Deposit Micro $5STANDARD $1000ECN$5000Leverage SpectraFX's leverage is capped at 1:1000. Note that high leverage always earns more money, but also loses more money.Spreads The spread of SpectraFX varies by the accounts. The Standard account's spread starts from 1.2 pips, and the ECN account's starts from 0.5 pips.Trading PlatformTrading PlatformSupported Available Devices Suitable for MT4❌/BeginnersMT5✔Desktop, Mobile and WebExperienced tradersDeposit and Withdrawal SpectraFX supports deposits and withdrawals through e-wallets including Skrill, Neteller, PayPal, BitPay, FasaPay and UPay Card.