SparkXonline is a CFD broker with a domain registered on March 5, 2024. The broker mainly provides investment services in trading markets such as Forex, cryptocurrencies, indices, stocks, energy, and commodities, and does not offer services to countries and regions where it may violate local laws or regulations.
Company Registration Information and Regulatory Status
According to the public information on its website (www.sparkxonline.com), SparkXonline was established in 2016 and is regulated by the Australian Securities and Investments Commission (ASIC). However, the broker does not disclose corporate registration details or specific regulatory information.
Upon verification, the Australian Securities and Investments Commission (ASIC) does not have any record of a regulated company named "SparkXonline."
Therefore, SparkXonline (www.sparkxonline.com) is, in fact, a scam broker website with no corporate entity or regulatory oversight.
Account Opening Process
The account opening process for a SparkXonline trading account involves visiting the broker's website, clicking on "Open Account" on the homepage or "REGISTER" in the upper right corner, entering personal details such as name and email, setting a password, and submitting the information. After verification, the account will be successfully registered.
Trading Products
SparkXonline offers a variety of trading products, including Forex, indices, commodities, stocks, and cryptocurrencies.
- Forex: Involves currency exchange and is known for its high liquidity, allowing traders to profit from currency fluctuations.
- Indices: Enables speculation on the performance of a market or specific sector without trading individual stocks, providing diverse trading opportunities with higher leverage.
- Commodities: Covers essential global market resources, allowing traders to buy and sell raw materials including metals, energy, and agricultural products.
- Stocks: Allows investors to profit from the price movements and dividends of public companies without owning the actual stock.
- Cryptocurrencies: Offers opportunities for digital currency enthusiasts to profit from highly volatile assets.
Investment Plans
SparkXonline offers four different types of investment plans: STARTER ACCOUNT, CLASSIC ACCOUNT, PLATINUM, FOREX SIGNALS.
STARTER ACCOUNT:
- Minimum deposit: $500
- Minimum expected profit: $3,500
- Maximum expected profit: $5,000
- Trader education*
- Risk management
- Tax-free spread trading profits
CLASSIC ACCOUNT:
- Minimum deposit: $5,000
- Minimum expected profit: $45,000
- Maximum expected profit: $50,000
- Expert news and analysis
- Competitive spreads
- Advanced trading tools
- Tax-free spread trading profits
PLATINUM:
- Minimum deposit: $10,000
- Minimum expected profit: $99,999
- Full benefits package
- Trader education*
- Advanced risk management
- Tax-free spread trading profits
FOREX SIGNALS:
- Professional Forex signals
- Up to 10 signals per day
- 95% success rate
- 24/7 support
- Advanced trading tools
- Bitcoin payments only
- Use with any broker
Trading Platform
SparkXonline provides a self-developed trading platform, claiming an average order execution speed of less than 7.12 milliseconds, over comprehensive liquidity providers, and more than 12,000 orders per second.
Deposits and Withdrawals
SparkXonline only supports deposits and withdrawals via cryptocurrencies.
Conclusion:
Traderknows reminds investors that SparkXonline is a fraudulent broker that lures investors with promises of high returns. In reality, it has no corporate entity or regulatory oversight. Investors are advised to choose brokers with transparent information, strong regulation, and good reputation to avoid unnecessary financial losses.
Currently, this broker is marked as a "Scam" on Traderknows.
