S&P Global Platts Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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S&P Global Platts is a reliable trading platform where I used to trade commodities. Their customer service was excellent, and I had no complaints about their services. However, I haven't traded with them lately. Overall, I think it's a trustworthy platform for commodity trading, and I would recommend it to anyone interested in this market.
Summary: The S P Global Platts review reveals a brokerage that, despite its long-standing history, faces significant challenges in terms of regulation and user trust. While it offers a variety of trading services, the absence of proper regulatory oversight raises concerns for potential traders.
Note: It is crucial to understand that S P Global Platts operates under different entities across regions, which can affect the overall trading experience and regulatory compliance. The methodology used for assessments aims to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 5 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 3 |
| User Experience | 4 |
| (Optional) Additional Rating | 5 |
We score brokers based on a comprehensive analysis of user feedback, expert opinions, and factual data.
Founded in 1909, S P Global Platts has established itself as a prominent name in the commodities and energy market. The broker offers a range of trading services, including access to forex, contracts for difference (CFDs), commodities, and indices. However, it does not support popular trading platforms like MT4 or MT5, which may deter some traders. Notably, S P Global Platts is currently unregulated, which poses significant risks for potential investors.
Regulated Areas/Regions: The lack of regulation is a major concern, as S P Global Platts operates without any valid regulatory oversight. This absence raises red flags for traders who prioritize safety and compliance.
Deposit/Withdrawal Currencies/Cryptocurrencies: The broker supports multiple currencies for deposits and withdrawals, but specific details on the supported cryptocurrencies remain unclear.
Minimum Deposit: The minimum deposit requirement is not explicitly stated in the sources, indicating a lack of transparency.
Bonuses/Promotions: S P Global Platts does not appear to offer any bonuses or promotions, which is a common feature among more competitive brokers.
Tradable Asset Classes: Users can trade a variety of asset classes, including forex pairs, commodities, and indices, which provides some versatility in trading options.
Costs (Spreads, Fees, Commissions): The spreads and fees associated with trading on S P Global Platts are reported to be average, but the lack of detailed information makes it difficult for traders to gauge the true cost of trading.
Leverage: The sources do not specify the leverage options available, which is critical information for traders looking to maximize their trading potential.
Allowed Trading Platforms: As mentioned earlier, S P Global Platts does not support common trading platforms like MT4 or MT5, which could limit its appeal to many traders.
Restricted Regions: There are no specific restrictions mentioned regarding geographical limitations, but the unregulated status may affect traders in certain jurisdictions.
Available Customer Service Languages: Customer support appears to be limited, with no clear indication of the languages supported, which could hinder communication for non-English speakers.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 5 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 3 |
| User Experience | 4 |
| (Optional) Additional Rating | 5 |
Account Conditions: Users have reported that the account conditions are average, with some flexibility in terms of asset classes but lacking in transparency regarding minimum deposits and fees. According to PediaFX, the broker is not recommended due to its unregulated status.
Tools and Resources: The tools available for traders are limited, particularly due to the absence of popular trading platforms like MT4 or MT5. This limitation could significantly impact user experience and trading efficiency.
Customer Service and Support: Customer service ratings are mediocre at best. Users have expressed dissatisfaction regarding the responsiveness and availability of support, which is a critical factor for traders needing assistance.
Trading Setup (Experience): The trading experience is further hindered by the lack of robust trading platforms and tools, leading to a less-than-ideal trading environment, as noted in various reviews.
Trustworthiness: The absence of regulatory oversight has led to a low trust rating among users. Many potential customers are wary of engaging with an unregulated broker, which could lead to significant financial risks.
User Experience: Overall user experience is rated poorly, primarily due to the lack of transparency, regulatory compliance, and limited trading tools. Users have shared concerns regarding the broker's legitimacy and reliability.
In conclusion, the S P Global Platts review indicates that while the broker has a long history and offers a variety of trading services, its unregulated status and lack of transparency are significant drawbacks. Potential traders should proceed with caution and consider these factors before engaging with the platform.
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