Think of trading with SpearGpt.com platform? Is this broker a reliable broker to trust? You seem to be uncertain about the broker let’s read SpearGpt reviews to know about this forex broker whether to use or not.

This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.

About SpearGpt FX

SpearGpt FX otherwise known as SpearGpt.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients. 

The broker is completely anonymous. It has not revealed any legal information about itself or its alleged registration address.

Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.

SpearGpt Minimum Deposit

SpearGpt deposit does not specify its minimum deposit for clients. The starter account promises a spread starting at 3 pips.

In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.

As for the funding methods, SpearGpt accepts Visa/Mastercards, bank transfers and cryptocurrency transfers. But both methods result in technical error messages on the deposit menu.

Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!

SpearGpt Withdrawal Policies and Platform

SpearGpt withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements  that must be met before a withdrawal.

On its website, SpearGpt offers a simplified platform for trading binary options, a type of trading that is banned by almost all financial regulators because it is associated with many exploits and scams.

Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.

The broker SpearGpt leverage can get up to 1:100. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.

Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website

Is SpearGpt a Scam Forex Broker?

First of, SpearGpt.com has not revealed any legal information about itself or its alleged registration address. The absence of any credible data about this broker’s identity is quite worrisome to be honest, as we don’t actually know who stays behind it.

There’s no legal documentation or corporate background either, so this page happens to be virtually anonymous.

Again, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.

Remember that reputable brokers would never hide such essential details, just the opposite – they always display all the data regarding their identity and regulation straight away.

Argument Against Trading With An Unlicensed and Unregulated Broker

Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.

Having said that, it is not far from believing that SpearGpt.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website

Verdict:

SpearGpt FX located at SpearGpt.com appears like a trustworthy trading broker, however, you should not take the words they say. It is a non-regulated cryptocurrency broker offering financial services to clients. By all appearances, the advice to traders remains to steer clear from unlicensed forex broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.

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