SpaceFX

Introduction

SpaceFX is a relatively new entrant to the world of online Forex and CFD trading. As such, it’s important to thoroughly evaluate this broker firm before committing your hard-earned money. This review aims to provide an unbiased look at the services, features, and potential drawbacks of SpaceFX.

Services and Features

Trading Platform

SpaceFX offers a web-based trading platform that is accessible from any device with an internet connection. While this is a convenient feature for traders on the go, the lack of a dedicated mobile app may be a drawback for some. The platform itself is user-friendly and intuitive, making it suitable for both beginners and experienced traders.

Asset Range

The range of assets available for trading on SpaceFX is quite impressive. The broker offers a wide selection of Forex pairs, commodities, indices, and cryptocurrencies. This diversity allows traders to diversify their portfolios and explore different markets.

Account Types

SpaceFX provides three types of accounts: Standard, Premium, and VIP. Each account type comes with its own set of features and benefits, including varying spreads and leverage levels. However, the high minimum deposit required for the Premium and VIP accounts may be a barrier for some traders.

Potential Drawbacks

Regulation

One of the main concerns with SpaceFX is its regulatory status. The broker is not regulated by any recognised financial authority, which raises questions about its credibility and safety. Traders should always opt for regulated brokers to ensure their funds are secure.

Customer Support

While SpaceFX does offer customer support via live chat and email, the lack of a telephone support option may be a drawback for some traders. In addition, some users have reported slow response times and lack of resolution to their issues.

Education and Research

Another potential downside of SpaceFX is its lack of educational and research resources. While the broker does provide a basic Forex education section, it lacks in-depth training materials and market analysis tools that would benefit both novice and experienced traders.

Conclusion

In conclusion, while SpaceFX offers a user-friendly platform and a wide range of assets, there are several areas where it falls short. The lack of regulation, limited customer support, and insufficient educational resources are significant drawbacks that traders should consider. As always, it’s recommended to do your own research and consider your individual trading needs before choosing a broker.