SpToro-Overview of Minimum Deposit, Spreads & Leverage

SPTORO | 2021-11-16 17:58

Sommario：SpToro is an online broker, owned and operated by SPT Media LLC registered in St. Vincent and the Grenadines, which itself is a problem. It‘s an offshore jurisdiction that loosely regulates the financial sector and doesn’t even license the brokers operating there. As a result, the FX business is entirely unregulated and pose risks for traders and investors. The Spanish financial authority CNMV recently scrutinised SpToro and issued a warning against them. Your funds are in danger because this broker is an exposed scam.

General Information & Regulation

SpToro is an online broker, owned and operated by SPT Media LLC registered in St. Vincent and the Grenadines, which itself is a problem. It‘s an offshore jurisdiction that loosely regulates the financial sector and doesn’t even license the brokers operating there. As a result, the FX business is entirely unregulated and pose risks for traders and investors. The Spanish financial authority CNMV recently scrutinised SpToro and issued a warning against them. Your funds are in danger because this broker is an exposed scam.

Market Instruments

Tradable financial instruments available on the SPTORO platform include forex currency pairs, cryptocurrency, stocks, indices, and commodities.

Minimum Deposit

Although no information about the minimum deposit requirement is provided, when we completed our registration it turned out that SPToro accepts deposits as low as 50 USD. In any case, as this is not a legit broker however, traders should not trade with it.

Leverage

This is another piece of information, missing on the SPToro website. Unregulated brokers always offer generous leverage to attract traders. It's important that forex traders learn how to manage leverage and employ risk management strategies to mitigate forex losses.

Spreads & Commissions

SpToro offers quite a few trading accounts, with spreads and commissions in varying from different accounts. Take the EUR/USD as an example, the spread on this pair is around 2.6 pips in the Bronze account, 1. 2 pips on the Gold account, 0.7 pips on the Platinum account, and as low as 0.2 pip in the Diamond account. as for commissions for indices and equities, the commissions is 15 USD per lot World Indices, Equities US and Equities Asia on the Bronze account, 13 USD Per lot on the Gold account, 11 USD per lot for the Platinum account, and 9 USD for the Diamond account.

Trading Platform Available

When it comes to trading platform available, SPToro offerrs a SIRIX platform for PC, mobile devices and web.

Deposit & Withdrawal

SPToro does seem to accept credit cards, but many other convenient payments like wire transfer, Skrill, Neteller, PayPal are not available.

Customer Support

The SPTORO customer support team can be reached through telephone (+41225017638), and email (support@sptoro.com). Unfortunately, live chat communication is not available.

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