Space Markets (Pty) Ltd Forex Broker

FSCA Regulated - Moderate Trust

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Trust Score

7.2

OUT OF 10

Pros

Regulated by South Africa's Financial Sector Conduct Authority (FSCA) providing regulatory oversight and client fund protection
Highly competitive spreads on major indices including NAS100 with fast execution speeds and no notable slippage
Rapid withdrawal processing with same-day processing for requests submitted before 15:00 and under 24 hours for later requests
User-friendly account setup process with straightforward verification procedures and low minimum deposit requirements
Comprehensive trading platform options including both MT4 and MT5 with full functionality and mobile access
Innovative synthetic markets offering allowing weekend trading when traditional markets are closed
Dedicated customer support team providing responsive assistance via multiple channels

Cons

Limited regulatory coverage with only FSCA regulation, lacking tier-1 regulatory oversight from bodies like FCA or ASIC
Restricted product range compared to larger international brokers, particularly in cryptocurrency offerings
Customer support may experience delays during peak trading hours affecting response times
Limited educational resources compared to more established brokers in the industry
No negative balance protection explicitly mentioned in their documentation
Spreads can widen significantly during major news events and market volatility

Basic Information

Company

Space Markets (Pty) Ltd

Region

South Africa

Established

2022

support@spacemarkets.io

Phone

unknown

Website

www.spacemarkets.io

User Reviews

James Wilson Cape Town, South Africa

★★★★☆

I've been trading with Space Markets for the past 6 months, primarily focusing on indices and forex pairs. The platform execution is remarkably fast, and I particularly appreciate the competitive spreads on NAS100, which is my main trading instrument. Their weekend synthetic markets offering is innovative and provides additional trading opportunities. Customer service has been responsive, though sometimes there are delays during busy periods. I've processed multiple withdrawals, all completed within the promised timeframe. The MT5 platform integration is smooth, though I wish they offered more educational resources for advanced trading strategies.

Mohammed Rahman Dubai, UAE

★★★☆☆

Trading with Space Markets for 4 months now. While their platform is stable and execution is generally good, I've experienced some challenges with spread widening during major news events. The initial verification process took longer than expected - about 3 days for full approval. On the positive side, their synthetic markets offering is unique and useful for weekend trading. Customer support is helpful but can be slow during peak hours. The minimum deposit requirements are reasonable, but I'd like to see more diverse cryptocurrency offerings and better educational resources.

Sarah Mitchell London, UK

★★★★★

After 8 months with Space Markets, I'm thoroughly impressed with their service. I mainly trade forex and indices, and the execution speed is exceptional. Their spreads on major pairs are consistently competitive, and I've never experienced significant slippage. The weekend synthetic markets have been a game-changer for my trading schedule. Withdrawals are processed exactly as advertised - same day when requested before 15:00. The MT5 platform works flawlessly, and their mobile app is well-designed for on-the-go trading. Customer support has always resolved my queries efficiently.

Overview

Space Markets (Pty) Ltd has emerged as a notable player in the online trading industry since its establishment in South Africa. Operating under the regulatory oversight of the Financial Sector Conduct Authority (FSCA), the broker has positioned itself as an innovative trading solution provider focusing on transparency and technological advancement. The company serves a growing client base with a particular strength in the African market while maintaining a global presence. Space Markets distinguishes itself through its commitment to providing a cutting-edge trading environment combined with competitive trading conditions. The broker offers multiple account types catering to different trading styles and experience levels, with a focus on forex, indices, shares, and commodities trading. Their platform selection includes both MetaTrader 4 and MetaTrader 5, providing traders with industry-standard tools and features. A standout feature is their synthetic markets offering, enabling trading opportunities during weekend hours when traditional markets are closed. The broker maintains a strong emphasis on client fund security through segregated accounts and regulatory compliance measures. Trading conditions are competitive with tight spreads, particularly on popular instruments like major indices, and the broker has gained recognition for its rapid withdrawal processing capabilities. Their technological infrastructure is designed to ensure reliable execution speeds and platform stability, essential for both day traders and long-term investors.

Is Space Markets (Pty) Ltd Safe? Regulation Analysis

Space Markets operates under the regulatory framework of South Africa’s Financial Sector Conduct Authority (FSCA), which provides oversight and establishes operational standards for financial services providers in the region. The broker maintains compliance with FSCA requirements including client fund segregation, regular financial reporting, and maintaining adequate capital reserves. Client funds are held in segregated accounts with reputable banks, separated from the company’s operational funds to ensure additional security. While the FSCA regulation provides a baseline of investor protection, it’s important to note that this represents a moderate level of regulatory oversight compared to tier-1 regulators like the FCA or ASIC. The broker maintains transparent operations and has not faced any significant regulatory actions or sanctions since its establishment. However, traders should be aware that FSCA regulation may offer different levels of investor protection compared to European or Australian regulatory frameworks. The broker implements standard KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures in compliance with international financial standards.

Trading Products and Services

Forex Trading: Comprehensive selection of major, minor, and exotic currency pairs with competitive spreads and leveraged trading options
Indices Trading: Access to major global indices including NAS100, US30, and other popular indexes with competitive spreads
Shares Trading: Direct access to international stock markets allowing traders to invest in major global companies
Commodities Trading: Range of commodity instruments including precious metals, energies, and agricultural products
Synthetic Markets: Innovative offering allowing trading during weekend hours when traditional markets are closed
Trading Conditions: Variable spreads starting from competitive levels, leverage options suitable for different trading strategies, and fast execution speeds

Trading Platforms

MetaTrader 4: Industry-standard platform offering comprehensive charting tools, multiple timeframes, technical indicators, and automated trading capabilities through Expert Advisors
MetaTrader 5: Next-generation platform providing advanced trading capabilities, additional technical tools, and enhanced market analysis features
Mobile Trading: Dedicated mobile applications for both MT4 and MT5 platforms, enabling trading on iOS and Android devices
WebTrader: Browser-based trading solution requiring no downloads, providing access to markets from any device
Platform Features: Real-time quotes, one-click trading, multiple order types, customizable charts, and comprehensive market analysis tools

Deposit and Withdrawal

Deposit Methods: Multiple secure payment options including credit/debit cards, bank transfers, and various electronic payment solutions
Withdrawal Processing: Fast withdrawal system with same-day processing for requests submitted before 15:00, and under 24-hour processing for later submissions
Account Currencies: Support for major international currencies
Verification Requirements: Standard KYC documentation required including proof of identity and address
Processing Times: Instant processing for most electronic payment methods, with bank transfers taking standard processing time
Minimum Deposits: Competitive minimum deposit requirements making the platform accessible to various trader levels

Customer Support

Space Markets provides comprehensive customer support services through multiple channels. Their support team is available during market hours to assist with trading-related queries, technical issues, and account management. Support channels include live chat, email, and dedicated contact forms. The team demonstrates strong product knowledge and technical expertise, particularly in platform-related queries. Response times are generally quick, though they may extend during peak trading hours. Support is primarily offered in English, with documentation and resources available in multiple languages. The broker maintains a comprehensive FAQ section and knowledge base to assist clients with common queries and platform guidance.

Frequently Asked Questions (FAQ)

Q: Is Space Markets a regulated broker?
A: Yes, Space Markets (Pty) Ltd is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. This regulation requires the broker to maintain strict operational standards, segregate client funds, and follow proper compliance procedures. While this provides a level of oversight, traders should note that FSCA regulation offers different protections compared to tier-1 regulators like the FCA or ASIC.

Q: What are the trading platform options available?
A: Space Markets offers both MetaTrader 4 and MetaTrader 5 platforms, available on desktop, web, and mobile devices. These platforms provide comprehensive trading tools, technical analysis capabilities, and automated trading options. The MT4 platform is popular among forex traders, while MT5 offers additional features and markets. Both platforms are fully supported with regular updates and technical assistance.

Q: How long do withdrawals take to process?
A: Withdrawals at Space Markets are processed efficiently, with same-day processing for requests submitted before 15:00 and under 24-hour processing for later submissions. The actual receipt of funds may vary depending on the payment method used, with electronic payments typically being faster than bank transfers. All withdrawals require account verification in compliance with regulatory requirements.

Q: What are the unique features of Space Markets?
A: Space Markets distinguishes itself through several key features, including synthetic markets trading during weekends, competitive spreads on major indices, rapid withdrawal processing, and user-friendly platform integration. The broker also offers comprehensive trading tools, multiple account types to suit different trading styles, and dedicated customer support services.