General Information
SpaceMarket is allegedly a brokerage company based in Dominica that provides its clients with its own-designed SpacePlatform, leverage up to 1:300, variable spreads and no commissions on over 100 tradable assets, as well as a choice of four different account types and 24×5 customer support services.
Market Instruments
SpaceMarket advertises that it offers more than 100 trading instruments in financial markets, including 60 + currency pairs, metals, indices and shares.
Account Types
There are four live trading accounts offered by SpaceMarket, namely Basic, Optimal, Individual and Strategic. Opening a Basic account requires the minimum initial deposit amount of $250, while the other three account types with the minimum initial capital requirements of $2,000, $10,000 and $25,000 respectively.
Leverage
The maximum leverage ratio provided by SpaceMarket is much higher than most brokers, up to 1:300. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Spreads & Commissions
Spreads are influenced by what type of accounts traders are holding. SpaceMarket reveals that the spreads in the Basic account start from 1 pip, the clients on the Optimal account enjoy spreads from 0.7 pips, while the Individual account with spreads from 0.6 pips and the Strategic account with spreads from 0.5 pips. All charging no commissions.
Trading Platform Available
When it comes to trading platforms available,SpaceMarket gives traders its own-designed SpacePlatform. The broker claims that trading through this platform, traders can trade more conveniently and get access to their trading account from any device without downloading and installing additional software. It supports all modern browsers and operating systems, including Windows, Mac OS and Linux.
Deposit & Withdrawal
From the logos shown at the bottom of the home page on SpaceMarkets official website, we found that this broker seems to accept deposits and withdrawals via VISA, Wire Transfer, Piastrix, Maestro and MasterCard. The minimum deposit amount is $250. The processing time of Bank transfer and Wire transfer usually requires 5 business days.
Customer Support
SpaceMarket‘s customer support can be reached through email: compliance.sp@spacemarket.pro, compliance.it@spacemarket.pro, compliance.de@spacemarket.pro, compliance.ru@spacemarket.pro or send messages online to get in touch. Company address: 8 Copthall, Roseau Valley, 00152 Commonwealth of Dominica. However, this broker doesn’t disclose other more direct contact information like telephone numbers while most brokers offer.
