Spacxtrade is a forex broker officially registered on March 20, 2024. This broker mainly provides users with numerous trading markets through trading platforms such as MT4, MT5, and cTrader, including forex, commodities, indices, bonds, cryptocurrencies, stocks, futures, etc. It does not operate in the United States, Canada, Israel, New Zealand, Japan, and Iran, among others.
Corporate Registration Information and Regulatory Status:
Public information on the Spacxtrade official website shows that the broker has multiple corporate entities and is regulated by different regulatory bodies.
The broker's entity registered in the United States is Spacxtrade Ltd, with the business registration number 9291655-2. This entity is authorized and regulated by the "Financial Services Authority of the United States" with the license number RD07599. In Australia, Spacxtrade's entity is International Capital Markets Pty Ltd, with the business registration number 123 289 109, regulated by the Australian Securities and Investments Commission (ASIC), license number 342893. In Cyprus, the entity is Spacxtrade (EU) Ltd, regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 493/16. In the Bahamas, the entity is Spacxtrade Ltd, business registration number 36424 C, regulated by the Securities Commission of the Bahamas (SCB), license number PIA-F629. Additionally, the copyright at the bottom of the Spacxtrade website page is attributed to Raw Trading Ltd.
Upon verification, there is no financial regulatory authority named “Financial Services Authority of the United States”. International Capital Markets Pty Ltd and Raw Trading Ltd are corporate entities of the broker IC Markets. The ASIC's official website shows the entity with the license number 342893 is DJA CAPITAL PTY. LTD, a private financial advisory firm. Moreover, CySEC does not have a record of an entity with the license number 493/16, and SCB does not have a financial classification named PIA.
Therefore, some of the corporate registration and regulatory information displayed on the Spacxtrader official website is fabricated, while other parts plagiarize the information of other companies.
Account Opening:
To open an account with Spacxtrade: Visit the broker's official website homepage, click on “OPEN AN ACCOUNT” to enter the account registration page, fill in the personal registration information as required and submit it. After submission, the account registration is successful.
Trading Accounts:
Spacxtrade offers three different types of trading accounts: cTrader Account, Raw Spread Account, Standard Account.
cTrader Account:
- Trading platform: cTrader
- Trading commission (per lot): $3.0 (round turn $6.0)
- Spread: From 0.0 pips
- Minimum initial deposit: $200
- Leverage: 1:500
- Server location: London
- Micro-lot trading (0.01): Supported
- Currency pairs: 64
- Index CFD trading: Supported
- Margin call level: 50%
- One-click trading: Supported
- Islamic account: Supported
- Allowed trading strategies: All
- Order distance limitation: Unlimited
- Programming language: C
Raw Spread Account:
- Trading platform: MetaTrader
- Trading commission (per lot): $3.5 (round turn $7.0)
- Spread: From 0.0 pips
- Minimum initial deposit: $200
- Leverage: 1:500
- Server location: New York
- Micro-lot trading (0.01): Supported
- Currency pairs: 64
- Index CFD trading: Supported
- Margin call level: 50%
- One-click trading: Supported
- Islamic account: Supported
- Allowed trading strategies: All
- Order distance limitation: Unlimited
- Programming language: MQL4
Standard Account:
- Trading platform: MetaTrader
- Trading commission (per lot): $0.0
- Spread: From 0.6 pips
- Minimum initial deposit: $200
- Leverage: 1:500
- Server location: New York
- Micro-lot trading (0.01): Supported
- Currency pairs: 64
- Index CFD trading: Supported
- Margin call level: 50%
- One-click trading: Supported
- Islamic account: Supported
- Allowed trading strategies: All
- Order distance limitation: Unlimited
- Programming language: MQL4
Trading Platforms:
The Spacxtrade official website claims to offer MT4, MT5, and cTrader trading platforms to its users, but it does not provide relevant download links, and the broker named Spacxtrade cannot be found on these platforms.
Deposit and Withdrawal:
Spacxtrade supports users in making deposits and withdrawals using credit/debit cards, electronic wallets, etc.
Conclusion:
Traderknows reminds investors that Spacxtrade is actually an unregulated scam website. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation for their investment and trading activities to avoid unnecessary financial losses.
Currently, this broker is marked as "suspected fraud" on Traderknows.
