Note: Regrettably, the official website of SP Market24, namely https://spmarket24.com/, is currently experiencing functionality issues.
What is SP Market24？
SP Market24 is a trading platform that offers a wide range of trading instruments across various asset classes. The platform offers a maximum leverage of 1:50 to its clients. Additionally, SP Market24 utilizes the popular trading platform MT4. However, it is important to note that there have been reports of scams associated with SP Market24, as well as concerns about the accessibility of their official website.
If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.
Pros & Cons
Pros:
- SP Market24 supports the popular trading platform MT4, which many traders prefer for its comprehensive charting features and technical analysis tools.
Cons:
- The trading conditions of SP Market24 are unclear, particularly regarding spreads, commissions, and swaps. This can make it difficult for traders to understand the costs associated with trading.
- SP Market24 is not regulated, which means that there is no oversight from a financial authority to ensure that the broker is operating fairly and transparently.
- The website of SP Market24 is inaccessible, which could suggest technical problems, or could indicate that the broker is trying to hide information from potential clients.
- There are reports of scams associated with SP Market24, which is a serious red flag for any broker.
- SP Market24 does not have a social media presence, which means that it is more difficult for traders to research the broker and get a sense of its reputation and customer service.
Is SP Market24 Safe or Scam？
SP Market24 is not regulated, which raises concerns about the reliability and security of their trading platform. The inaccessibility of their official website further adds to these concerns. These factors significantly increase the level of risk involved in investing with SP Market24.
Before deciding to invest with SP Market24, it is of utmost importance to conduct thorough research and diligently evaluate the potential risks against the potential rewards. It is generally advised to choose brokers that are properly regulated to ensure the safety of your funds and protect yourself from potential scams or fraudulent activities.
Market Instruments
SP Market24 offers a variety of trading instruments across different asset classes.
Indices:
SP Market24 provides access to a range of global stock market indices, including popular indices such as the S&P 500, NASDAQ, Dow Jones, FTSE 100, and more. Trading indices allows investors to speculate on the performance of a specific market or sector rather than individual stocks.
Commodities:
SP Market24 offers trading in commodities such as gold, silver, crude oil, natural gas, copper, and more. Commodities are physical goods that are commonly used in various industries, and trading them can provide exposure to global supply and demand dynamics.
Stocks:
SP Market24 allows trading in individual stocks of companies listed on major stock exchanges globally. Traders can take positions on the rising or falling prices of specific stocks, potentially benefiting from the success or failure of particular companies.
Gold:
As a sought-after precious metal, gold trading is popular among investors. SP Market24 enables traders to speculate on the price movements of gold, providing an opportunity to take advantage of market volatility and global economic factors.
Energies:
Trading in energy commodities such as crude oil, natural gas, and other energy products is available through SP Market24. These instruments are influenced by various factors such as geopolitical events, supply and demand dynamics, and global economic indicators.
Account Types
SP Market24 offers four live account types with different features and minimum deposit requirements. Here are the details of each account:
- Gold Account:
The Gold account is the highest-tier account offered by SP Market24. It requires a minimum deposit of $15,001.
- Silver Account:
The Silver account has a minimum deposit requirement of $10,000. This account type offers a comprehensive set of features, including access to various trading instruments, advanced trading platforms, educational resources, and customer support services.
- Bronze Account:
The Bronze account is designed for traders with a lower initial investment capacity. It requires a minimum deposit of $5,001. Despite the lower deposit requirement, this account type still provides access to a range of trading instruments, trading platforms, and customer support.
- Mini Account:
The Mini account is the most accessible account type offered by SP Market24, with a minimum deposit requirement of $250. This account is tailored for beginners or traders who prefer to start with a smaller investment.
Leverage
SP Market24 offers a maximum leverage of 1:50 to its clients. Leverage is essentially a loan provided by the broker to increase the trading position size of a trader. It allows traders to control larger positions in the market with a smaller amount of capital. For example, with a 1:50 leverage ratio, for every $1 of trader's capital, they can control a trading position equal to $50 in value.
Leverage can be attractive to traders as it offers the potential for higher returns on investment. With a smaller amount of capital, traders can enter larger positions and potentially amplify their profits. However, it is important to note that leverage also increases the level of risk involved in trading.
Trading Platform
SP Market24 provides its clients with the popular trading platform MetaTrader 4 (MT4). MT4 is widely recognized as one of the most advanced and user-friendly trading platforms available in the forex industry. The trading platform offers a range of advanced features that allow traders to analyze the market, manage their trades, and monitor their accounts in real-time.
The MT4 platform is equipped with a range of technical analysis tools that enable traders to identify key trends and patterns in the market. These tools include a comprehensive set of indicators and charting tools that can be customized to meet the needs of individual traders. Additionally, MT4 supports the use of automated trading strategies, or Expert Advisors (EAs), which traders can develop or use existing ones to execute trades automatically.
Deposits & Withdrawals
SP Market24 provides its clients with a variety of deposit and withdrawal options to ensure convenience and accessibility.
Clients can choose from widely recognized and trusted payment methods such as VISA, MasterCard, and Maestro debit cards. The acceptance of these major credit and debit card providers allows clients to fund their trading accounts quickly and securely.
SP Market24 also supports wire transfers for deposits and withdrawals. Wire transfers offer a reliable and secure method for transferring funds directly from a bank account to the trading account.
SP Market24 accepts deposits and withdrawals through WebMoney, Skrill, and NETELLER. These e-wallet services offer a convenient and secure way to transfer funds electronically. They often come with additional features such as the ability to transfer funds between different currency accounts or make instant payments.
User Exposure on WikiFX
Our website provides reports of scams associated with trading platforms. It is advised for traders to carefully review the information available on our platform and consider the potential risks of trading on an unregulated platform such as these. In the event that you come across fraudulent brokers or have been a victim of such activities, kindly report the incident in the Exposure section of our website. We highly appreciate your cooperation and our team of experts will do their best to help you resolve the issue.
Customer Service
Customers can get in touch with customer service line using the information provided below:
Telephone: +41 626 746 727
Email: support@spmarket24.com
Conclusion
In conclusion, SP Market24 offers a wide range of trading instruments and provides four live account types with different features and minimum requirements.
However, there are many risks of trading with SP Market24. First, it is important to note that SP Market24 currently operates without regulation, and there have been reports of scams associated with the platform. Additionally, the inaccessibility of their official website raises concerns about the reliability of the trading platform. As a potential client, it is crucial to conduct thorough research and exercise caution before engaging with SP Market24.
Frequently Asked Questions (FAQs)
Risk WarningOnline trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2023-03-23 11:08
2023-02-24 16:07
