Overview of Spectra Global
Spectra Global stands as a new entrant in the financial trading arena, offering clients various trading instruments and platforms such as Spectra Global Trader and MetaTrader 5. Its headquarters are based in Mauritius, and it was founded in 2023. Despite offering advanced trading tools and competitive account options, the lack of regulatory oversight remains a huge risk.
Is Spectra Global Legit？
Spectra Global is not regulated by any recognized financial regulatory authority. This lack of regulation means that there is no oversight ensuring that Spectra Global adheres to the financial industry's standards and practices, which can increase the risks associated with trading and investing through this broker. Potential clients are advised to consider the heightened risk of engaging with an unregulated entity.
Pros and Cons
Spectra Global presents a well-rounded trading experience with a wide range of instruments and account types, backed by advanced trading platforms like MetaTrader 5. The inclusion of educational resources and attractive bonuses further enhances its appeal, particularly to new traders. However, the platform's lack of regulatory oversight introduces potential security risks, and some users have reported slow customer support responses, which can be critical during urgent trading situations. These factors make Spectra Global a mixed option, offering substantial benefits but with notable risks.
Trading Instruments
Spectra Global provides trading instruments in the form of CFDs on various financial assets, including Forex for currency pairs, stocks for equity shares, indices for market benchmarks, and commodities covering precious metals, energy, and agricultural products.
Here is a comparison table of trading instruments offered by different brokers:
Account Types
Spectra Global offers three account types:
1. Gold: Variable spreads from 1.5 pips, MT5 platform, USD base currency, $500 minimum deposit, no expert advisor, 0.01 minimum volume per trade, no commission.
2. Platinum: Variable spreads from 1.2 pips, MT5 platform, USD base currency, $1000 minimum deposit, expert advisor enabled, 0.01 minimum volume per trade, no commission.
3. VIP: Raw spreads from 0.05 pips, MT5 platform, USD base currency, $25000 minimum deposit, expert advisor enabled, 0.01 minimum volume per trade, $0 to $5 commission per side.
How to Open an Account
To open an account with Spectra Global, follow these steps.
- Visit the Spectra Global website. Look for the “Open Account” button on the homepage and click on it.
- Sign up on websites registration page.
- Receive your personal account login from an automated email
- Log in
- Proceed to deposit funds to your account
- Download the platform and start trading
Leverage
Spectra Global offers leverage up to 1:500 across its trading instruments.
Here is a comparison table of maximum leverage offered by different brokers:
Spreads and Commissions
Spectra Global provides variable spreads starting from 1.5 pips for Gold accounts, 1.2 pips for Platinum accounts, and raw spreads from 0.05 pips for VIP accounts. Commissions are not charged on Gold and Platinum accounts, while VIP accounts incur commissions ranging from $0 to $5 per side.
Deposit & Withdraw Methods
Spectra Global supports the following deposit and withdrawal methods:
Deposits:
Bank Transfer: Minimum $100, USD, processing 1 to 7 working days, fee $0.
Visa/MasterCard: Minimum $100, USD, processing up to 1 hour, fee $0.
UPI: Minimum $100, USD, processing up to 1 hour, fee $0.
USDT: Minimum $100, USD, processing up to 1 hour, fee $0.
Withdrawals:
Bank Transfer: Minimum $300, USD, processing 1 to 7 working days, fee $0.
Visa/MasterCard: Minimum $100, USD, processing 1 to 7 working days, fee $0.
UPI: Minimum $100, USD, processing within 24 hours, fee $0.
USDT: Minimum $100, USD, processing within 24 hours, fee $0.
Trading Platforms
Spectra Global offers two trading platforms:
1. Spectra Global Trader: Available on Android and iOS, this user-friendly app allows seamless account management, trading over 300 instruments, and setting personalized price notifications.
2. MetaTrader 5 (MT5): A widely used, advanced trading platform available for Windows and Mac.
Customer Support
Spectra Global provides customer support for general inquiries via email at support@spectragloballtd.com, available 24/5.
Educational Resources
Spectra Global offers educational resources through its blog, providing expert insights and analysis on futures, indices, stocks, currencies, CFDs, and Forex. The content is categorized to help traders stay informed and ahead in the financial markets.
Bonus
Spectra Global offers the following bonuses:
1. Welcome Bonus: Up to $100 deposit bonus.
2. 10% Deposit Bonus: Up to $4900 deposit bonus.
3. Refer a Friend: $200 cash reward for each referred friend.
4. Referral Deposit Bonus: Referred friends receive a $180 bonus.
5. Zero Fees: No fees on deposits and withdrawals, including credit card, e-wallet, and bank wire transactions over $300.
Conclusion
Spectra Global offers a comprehensive suite of tools and resources for traders, including a variety of account types, competitive spreads, and modern trading platforms. It caters to both new and experienced traders with its educational blog and various bonuses. However, the lack of regulation is a significant downside, introducing higher risks that potential clients must weigh against the platform's features.
FAQs
What trading platforms does Spectra Global offer？
Spectra Global provides the Spectra Global Trader app for mobile users and MetaTrader 5 for desktop trading.
What is the minimum deposit required at Spectra Global？
The minimum deposit at Spectra Global starts at $100.
Is Spectra Global regulated by any financial authority？
No, Spectra Global is not currently regulated by any recognized financial regulatory authority.
What types of trading instruments can I trade with Spectra Global？
Spectra Global offers trading in Forex, stocks, indices, and commodities through CFDs.
What bonuses does Spectra Global offer to its clients？
Spectra Global offers several bonuses, including a welcome bonus, deposit bonuses, a refer-a-friend reward, and zero fees on deposits and withdrawals.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then.
2024-07-04 17:37
