Trading Space

Overview

Trading Space, a company based in the United Kingdom, presents itself with suspected fake regulation claims by the FCA and ASIC. Offering various account types from Basic to Diamond, the platform requires minimum deposits ranging from $250 to $300,000, with leverage of up to 1:200. However, concerns arise regarding the credibility of its regulatory status. Customer support is reported as lacking in responsiveness and effectiveness. Moreover, the website remains perpetually unavailable, contributing to suspicions of it being a scam.

Regulation

Trading Space claims to be regulated by the FCA in the UK and ASIC in Australia, but there are suspicions that these claims are fake. It's best to be cautious when dealing with them as their regulatory status may not be legitimate.

Pros and Cons

Trading Space lacks any evident advantages, making it crucial to scrutinize its numerous drawbacks. These include suspected fake regulation claims by FCA and ASIC, a website that remains consistently inaccessible, ineffective customer support, and a notable lack of transparency and reliability.

Account Types

Trading Space offers five account types: Basic, Silver, Gold, Platinum, and Diamond.

1. Basic Account: This account has a maximum leverage of 1:20, requires a minimum deposit ranging from $250 to $10,000, and offers a minimum spread of 3 pips.

2. Silver Account: With a maximum leverage of 1:50, the Silver account demands a minimum deposit between $11,000 and $50,000. The minimum spread for this account type is 2 pips.

3. Gold Account: The Gold account provides a maximum leverage of 1:100. To open this account, traders need to deposit between $51,000 and $150,000. The minimum spread is 1.5 pips.

4. Platinum Account: This account offers a maximum leverage of 1:150. The required minimum deposit is higher, ranging from $160,000 to $300,000. The minimum spread for Platinum account holders is 0.5 pips.

5. Diamond Account: The highest tier, the Diamond account, provides a maximum leverage of 1:200. It is an invite-only account, meaning traders must receive an invitation to access it. The minimum spread for this account type is 0.1 pips.

These account types cater to traders with varying levels of experience and investment capabilities, offering different levels of leverage, minimum deposits, and spreads to suit their needs.

Leverage

The maximum trading leverage offered by this broker is up to 1:200. Leverage is a tool that allows traders to control a larger position size with a relatively small amount of capital. With a leverage ratio of 1:200, traders can control a position size that is 200 times larger than their initial investment. This means that for every $1 of capital deposited, traders can trade with up to $200 in the market. While leverage can amplify potential profits, it also increases the risk of losses, as losses are also magnified in proportion to the leverage used. Therefore, traders should exercise caution and implement risk management strategies when trading with leverage.

Spreads

The spreads vary across the different account types offered by this broker:

• Basic Account: Minimum spread of 3 pips.

• Silver Account: Minimum spread of 2 pips.

• Gold Account: Minimum spread of 1.5 pips.

• Platinum Account: Minimum spread of 0.5 pips.

• Diamond Account: Minimum spread of 0.1 pips.

Spreads refer to the difference between the bid price (the price at which you can sell) and the ask price (the price at which you can buy) of a currency pair or financial instrument. Lower spreads generally indicate better pricing for traders, as they reduce the cost of entering and exiting trades. Therefore, as traders move up the tiers of account types, they benefit from progressively narrower spreads, potentially enhancing their trading profitability.

Customer Support

Customer support provided by support@tradingspace.pro is lacking in responsiveness and effectiveness. Traders encountering issues or requiring assistance may face delays or inadequate solutions, leading to frustration and dissatisfaction. The lack of prompt and helpful support diminishes the overall trading experience, leaving traders feeling unsupported and disenchanted with the platform's service quality.

Conclusion

In conclusion,Trading Space raises significant concerns. Despite their claims of regulation and the array of account options, there's a cloud of doubt surrounding their credibility. The fact that their website is perpetually inaccessible, combined with poor customer support, leaves traders feeling uneasy and unsupported. It's a stark reminder to tread carefully in the trading world and to prioritize safety and reliability above all else.

FAQs

Q1: Is Trading Space regulated？

A1: Trading Space claims regulation by the FCA in the UK and ASIC in Australia, but doubts linger about the legitimacy of these claims.

Q2: What is the maximum leverage offered？

A2: Trading Space offers a maximum leverage of up to 1:200, allowing traders to control larger positions with a relatively small amount of capital.

Q3: What are the minimum deposit requirements？

A3: Minimum deposit requirements vary depending on the account type, ranging from $250 to $300,000 for the Basic to Platinum accounts, respectively.

Q4: Are there different account types available？

A4: Yes, Trading Space offers five account types: Basic, Silver, Gold, Platinum, and Diamond, catering to traders with varying levels of experience and investment capabilities.

Q5: How do spreads differ among the account types？

A5: Spreads vary across the account types, with narrower spreads offered for higher-tier accounts. The Basic account has a minimum spread of 3 pips, while the Diamond account offers a minimum spread of 0.1 pips.

Risk Warning

Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities. Additionally, the content of this review is subject to change, reflecting updates in the company's services and policies. The review's creation date is also relevant, as information could have become outdated. Readers should confirm the latest information with the company prior to making any investment decisions. The responsibility for utilizing the information provided herein lies exclusively with the reader.