Forexsp-Overview of Minimum Deposit, Leverage, Spreads

General Information & Regulation

Forexsp, a trading name of Spot FXIT solution ltd, is allegedly an internet brokerage and investment company authorized and regulated by the State of Delaware under the Securities Investment Business Law of the Secretary of State with Register Number. 6292479, claiming to provide its clients with leverage up to 400:1, variable spreads from 2 pips on various tradable assets, as well as a choice of three different account types.

Market Instruments

Forexsp advertises that it offers a variety of monetary products in financial markets, consisting of shares, commodities, indices and forex.

Account Types

There are three live trading accounts offered by Forexsp, apart from free demo accounts with $10,000, namely Silver, Gold and Diamond. Opening a Silver account requires the minimum initial deposit amount of $100, while the other two account types with the much higher minimum initial capital requirements of $2,000 and $5,000 respectively.

Leverage

The maximum leverage ratio provided by Forexsp is much higher than most brokers, up to 400:1. 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. Forexsp reveals that the spread on the Silver account starts from 4 pips, the clients on the Gold account can experience spreads from 3 pips, while only the Diamond account can enjoy the lowest spreads from 2 pips. As for commissions, the broker claims that there are no commissions charged for opening new deals on any tradable products.

Deposit & Withdrawal

Forexsp says to accept numerous means of online and offline fund deposit choices, which include Bank wire transfers, credit/debit cards and e-wallets. The minimum deposit requirement is $100. As for the processing time of deposit requests, deposit via bank wire transfers requires 2-4 business days to process.

Customer Support

Forexsps customer support can be reached by phone: +91 022 6908 6400, +44-1224980655, email: customercare@forexsp.com, support@forexsp.com, info@forexsp.com. Besides, you can also follow this broker on some social media platforms like Facebook, Twitter, Instagram and LinkedIn. Company address: SPOT FXIT SOLUTION LTD, 3422 Old Capitol Trail #700, Wilmington, DE 19808, United States.