SpectraFX (Spectrafx.co) claims to offer negative balance protection and standard stop-out at 30 percent. The platform dares to put leverage at 1:1000. No regulator would allow for such high leverage. Spectra FX is also holding funds from investors without consent. By this, we mean spectrafx.co is likely blocking withdrawals from members. And this is what we all need to avoid. Find out more in our exclusive SPECTRAFX REVIEW.
On the about us page, the platform promises to bring the future of trading to investors. True ECN provider is what SpectraFX refers to itself. When you land on the homepage, the platform sells the idea of a successful platform.
It’s not all rosy on the platform, as the majority of members are having withdrawal issues. It seems most of them are unable to withdraw funds. As a result, the platform is either blocking access or completely removing member login credentials.
What you need is to know is the truth about Spectra FX. The platform is unregulated and does not offer any safety net to investors. Those who signed up with the platform are now ruing the decision.
Sign up with industry regulated platform that offers realistic profit margins. Go for platforms that guarantee your safety when investing. You should also try out new investing methods, such as Coin Staking, DeFi, and Masternoding.
Spectra FX is not your average cup of tea when it comes to trading. There are a lot of loopholes we have seen on the platform. And this is the reason why we have to shun the platform. The activities we see are not in line with the industry.
When you decide to invest, the first step should be doing thorough research on the platform. Make sure to know the pros and cons before committing funds. Ask around and get to know what others are saying about the platform.
SpectraFX offers three account types, Micro, Standard, and Spreads. Each of the accounts comes with a different set of features. Most notably is the leverage set on these accounts. The platform won’t use rigid guidelines when it comes to maximum leverage.
Let’s take a closer look at each of the accounts;
Micro
It’s the most basic account, with investors having to deposit $5 as the minimum acceptable deposit. The maximum leverage set is 1:1000, with spreads set at 1.9 pips. In addition, members get a promise of having tight floating spreads.
Standard
For the standard account holder, the available minimum deposit is $1,000. The maximum leverage set for this account is 1:500. Spreads start from 1.4 pips with no considerable advantage of holding this account type.
Spread
It’s the most exclusive account type, with investors having to deposit a minimum of $5000. The leverage for this account is a bit lower but not in line with the regulator’s set leverage. You get leverage of 1:300 on the platform.
From what we have seen, the platform tries to target all classes of investors. Newbies will join for nearly free with leverage set at 1:1000. Although the leverage seems enticing, there are some huge red flags.
Regulators have set 1:100 as the absolute maximum leverage. In the States, the leverage set is 1:50 for retail traders. High leverage means you risk losing a large chunk of funds with a losing trade.
The platform greatly profits from high leverage. And this is why regulators set sufficient leverage to protect investors. Ensure you avoid such high leverage as the risks are too high for anyone to profit.
You can fund your account using bank and wire transfers. The platform sends an email with instructions on how to deposit. Once you fund the account, the balance will reflect in your account within 24 hours.
After seeing the funds in your account, you can start trading. Some trade and earn high-profit margins and those who make losses. It’s all the same as those who make winning trades don’t get to withdraw.
When the time comes for you to withdraw, the platform will show its true colors. No one gets to withdraw funds which makes the platform a far cry. It would be best to avoid it as there’s no proof of anyone profiting or withdrawing from the platform.
There’s an affiliate program available for members. Once you direct new users to the platform, you get a promise of a commission. Unfortunately, the platform fails to mention the commission, percentage, or rates.
Those who have directed other investors to sign up are ruing the decision. The members are blaming them for leading them to a platform that blocks withdrawals. And this is the reason why we must expose their affiliate program.
Avoid it at all costs and find proven platforms that offer real means of earning passive income. Spectra FX will only take advantage of your marketing skills and later fail to release your commissions.
Your funds are far from safe with a platform that fails to offer investors actual trading. In addition, the platform doesn’t comply with industry regulations. There’s no indication that the platform provides a safety net to investors.
Make sure to stay away from the platform as it doesn’t guarantee any security. The platform is also seen to pool funds in one account. Therefore, segregation of accounts is not possible as the platform holds funds in a single bank account.
If and when bankruptcy or insolvency strikes, the platform will lose the funds. And this means no member will receive any funds from the platform. So you have to avoid such platforms that put your funds at risk.
Spectra FX is an anonymous investment platform that fails to offer investors any transparency. We don’t know the names of the CEO or any of the staff members. And this makes the platform a high-risk investment and trading entity.
It would be best if you strived to avoid anonymity, especially in online trading. Unfortunately, these are the issues and red flags most won’t bother to check on the platform. Without any actual names to follow up, there’s no way of knowing who is held responsible for funds.
When deciding which platform to use, ensure you confirm the effectiveness of support. An open trading platform will provide all parties adhere to strict regulatory guidelines. And this is the reason why we must expose the platform.
There’s no live chat or any other direct means of communication. So you don’t get access to immediate support, which is a significant problem. And this is the reason why we have to expose the platform. It’s not ideal to use a platform that only relies on emails.
We see the platform trying to control the communication lines. There’s a live chat logo at the disclaimer at the footer of their homepage. These are just logos, and members don’t have real live support when trading.
Spectra FX is not a licensed platform and does not have any documents to prove it. The platform is breaking every trading rule set by regulators. Without any oversight, the platform is free to impose any trading conditions.
Regulators are in play to ensure investors enjoy fair trading conditions. Stay away from platforms that fail to offer such conditions.
There’s no way we would recommend a platform that doesn’t comply. Therefore, we recommend you stay away from spectrafx.co.
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