Basic Information
Registered Region 
Costa Rica
Costa RicaOperating Period
5-10 years
Company Name
Spartan Capital Markets Limited
Customer Service Email Address
info@spartanforex.com
Contact Number
+50672067179
Company Website
Global Broker Regulation Inquiry App
WikiFX
No Regulation
Score
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/10
SpartanForex
Costa Rica
|
5-10 years
|
Suspicious Regulatory License
|
Suspicious Scope of Business
|
High potential risk
http://spartanforex.com/
Website
Rating Index
Influence
Influence
D
Influence index NO.1
Indonesia 2.62Surpassed 15.70% brokers
Biz Area
Search Statistics
Advertising
Social Media Index
Contact
+506 7206-7179
info@spartanforex.com
http://spartanforex.com/
Escazu Village Trejos Montealegre, San Rafael Escazu, San José Costa Rica
LicensesNo valid regulatory information, please be aware of the risk!
Warning: Low score, please stay away!
- It has been verified that this broker currently has no valid forex regulation. Please be aware of the risk!
2
Biz Area
Website
Relevant Enterprises
Company Summary
Wiki Q&A
Comment
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Official website
Website
spartanfx.asia
82.221.136.24- 82.221.136.7
Relevant Enterprises
Spartan Capital Markets Limited
Active
Vanuatu
Registration No. 14593
Established
Related sources Website Announcement
Company Summary
| SpartanForex Review Summary | |
| Founded | 2014 |
| Registered Country/Region | Costa Rica |
| Regulation | Not regulated |
| Market Instruments | Forex, Metals, Cryptocurrencies, CFDs, Indices, Stocks |
| Demo Account | ✅ |
| Leverage | Up to 1:500 |
| Spread | 0.4 pips for EUR/USD pair |
| Trading Platform | Spartan Oracle |
| Min Deposit | $500 |
| Customer Support | info@spartanforex.com |
| +506-7206-7179 | |
SpartanForex Information
SpartanForex is an offshore forex and CFD broker offering trading in multiple asset classes including forex, metals, indices, stocks, and cryptocurrencies. It provides its own proprietary web-based platform, Spartan Oracle, with leverage up to 1:500 and access to over 100 instruments. However, it is not regulated by any recognized financial authority.
Pros and Cons
| Pros | Cons |
| Offers a wide range of tradable instruments | Not regulated |
| Demo accounts available | Minimum deposit of $500 is relatively high for new traders |
| Proprietary web-based platform with no installation needed | Islamic accounts not clearly offered or standardized |
Is SpartanForex Legit?
SpartanForex is not a legitimate broker. It is registered in Costa Rica but has no valid regulatory license from any recognized authority. Major global regulators like the FCA (UK), ASIC (Australia), and NFA (USA) also do not license it.
The domain spartanforex.com was registered on May 27, 2014, and will expire on May 27, 2026. It is currently in a locked status that prevents transfer and updates.
What Can I Trade on SpartanForex?
The broker offers a wide range of tradable products including forex pairs, indices, cryptocurrencies, metals, energy products, and stocks.
| Tradable Instruments | Supported |
| Forex | ✅ |
| Commodities | ✅ |
| Crypto | ✅ |
| CFD | ✅ |
| Indexes | ✅ |
| Stock | ✅ |
| ETF | ❌ |
Account Types
SpartanForex offers one standard live trading account and free demo accounts but does not offer Islamic (swap-free) accounts. The live account suits both beginners and experienced traders seeking low spreads and high leverage, while the demo account is ideal for practicing strategies without financial risk.
| Account Type | Available | Description | Suitable For |
| Live Account | ✅ | One main type, funding required within 30 days. | Best for beginners and regular traders. |
| Demo Account | ✅ | Free, unlimited usage for practice and training. | Great for testing strategies risk-free. |
Leverage
SpartanForex offers leverage up to 1:500, depending on the account type. For example, Micro accounts can access the full 1:500 leverage, while Standard accounts are capped at 1:300, and CFD accounts go up to 1:200.
SpartanForex Fees
Compared to industry standards, SpartanForexs fees are moderate to high. Spreads start from 0.4 pips across major forex pairs. Commissions vary by account type, ranging from $5 to $30 per lot.
| Account Type | Instruments | Spread (from) | Commission per Lot | Leverage |
| Micro | Forex, Metals | 0.4 pips | $25 | Up to 1:500 |
| Standard | Forex, Metals | 0.4 pips | $5–20 | Up to 1:300 |
| CFD | CFDs | Not mentioned | $30 | Up to 1:200 |
Swap Rates
SpartanForex applies overnight swap fees for holding positions past market close, with charges varying by instrument and trade direction. Although swap-free accounts are not standard, they may be available upon request with an added $5 per lot fee.
| Symbol | Long Swap | Short Swap |
| AUDCHF | 1.8595 | -3.5459 |
| AUDJPY | 2.1997 | -3.5196 |
| AUDNZD | -1.2647 | -0.4326 |
| AUDUSD | 1.4352 | -3.3127 |
| EURAUD | -3.3649 | 1.6211 |
| EURUSD | -0.5251 | -0.4951 |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for what kind of traders |
| Spartan Oracle | ✅ | Any browser-based system (Windows, Mac, Linux, Android, iOS) | Traders wanting cross-device access with no installation needed. |
| MT4 | ✅ | Windows, Mac, Android, iOS | Experienced traders needing EA (Expert Advisors), indicators, advanced charting tools. |
Deposit and Withdrawal
| Method | Min. Deposit | Min. Withdrawal | Fees | Processing Time |
| Bank Wire | $ 500 | Not mentioned | No fee from SpartanForex, but bank fees may apply. | Several business days. |
| Cryptocurrency (BTC, USDT, LTC, ETH) | $ 500 | Not mentioned | No or very low network fees. | Depends on network confirmation. |
| UnionPay (China only) | $ 500 | Not mentioned | Not mentioned | Not mentioned |
Keywords
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
Wiki Q&A
LoukiaCharilaou 
1-2 years
What platforms does SpartanForex offer?
SpartanForex offers the Spartan Oracle platform, which is web-based and doesn’t require installation, making it easy to access from any device. While I appreciate the web-based platform, I personally prefer MetaTrader 5 (MT5), which is also supported by SpartanForex. MT5 offers advanced charting tools, automated trading, and Expert Advisors (EAs) that I use in my day-to-day trading. If you’re looking for a powerful platform with more advanced features, I’d recommend MT5 over the web-based Spartan Oracle.
Broker Issues
Leverage
Instruments
Platform
Account
07-16
United States
Abu00saeed
1-2 years
What account types does SpartanForex offer?
SpartanForex offers several account types: Micro, Standard, ECN, and VIP accounts. For new traders, the Micro account with a $500 minimum deposit is a good starting point. If you’re a more experienced trader looking for tight spreads and low commissions, the ECN account with $1,000 is the best option. For traders with a larger capital base, the VIP account with a $5,000 minimum deposit offers the most benefits.
Broker Issues
Instruments
Leverage
Account
Platform
06-27
United States
Prash_007
1-2 years
Is SpartanForex a legitimate broker?
Given that SpartanForex lacks regulation, I would hesitate to label it as a fully legitimate broker. While it does provide access to diverse markets and offers useful tools like MT5, the lack of regulatory oversight poses a significant risk for traders. Without proper regulation from entities like the FCA, ASIC, or CySEC, there's no guarantee that SpartanForex adheres to industry standards. Personally, I think it’s a high-risk broker and not suitable for those who prioritize security and transparency.
Broker Issues
Regulation
06-06
United States
Darren Ross
1-2 years
How competitive are SpartanForex’s trading fees?
Spreads starting from 0.4 pips for Micro and Standard accounts are quite reasonable compared to other brokers I’ve traded with. However, the ECN accounts offer raw spreads starting at 0.0 pips, but the $10 commission per lot makes it more suitable for high-volume traders. For someone like me who doesn’t trade often, I’d likely prefer the Micro account due to its lower fees and no commissions.
Broker Issues
Fees and Spreads
05-31
United States
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