Spago International Review – All The Irregularities Revealed
Spago International broker claims to be under the ownership of FINANCIAL CONSULTING LIMITED. This company is allegedly registered in Hong Kong in 2018. However, the currently active domain is active only since February 2023 according to who.is.
So, there’s a bad start already. To find out more discrepancies, read this Spago International review carefully.
|Regulated By:||No Regulations|
|Is This Company Safe?||No|
|Have Warnings From:||N/A|
|Registered In:||Hong Kong (allegedly)|
|Deposit Bonus:||Not available|
|Trading Assets:||Forex, Indices, Commodities|
|Free Demo Account:||Not Available|
|How To Withdraw From This Company?||Without a trading license withdrawal issues are imminent. In those cases, you should contact our refund team to start the chargeback process.|
Legal Info: Is Spago International Legit Or A Scam?
According to Spago International, they are authorized in Hong Kong to provide trading services. However, the Financial Commission register is blank upon search of this company.
Not only that, but also every other Tier 1 regulatory database, starting with the FCA, BaFin and ASIC. Therefore, everything this broker promises to offer is now questionable.
Who Are Spago International’s Clients?
Spago-international.net is only active for a few months. Yet, they managed to reach clients all over the world. But primarily, they are targeting countries like:
- United Kingdom
All these are highly regulated countries. Therefore, don’t hesitate to share with us your experience with this broker. Ultimately, our team can advise you on how to get your money back. You just have to send us a message.
Investment Costs With Spago International
For a company claiming to be authorized, they are quite anonymous. In fact, Spago International services come without any costs. Since the company doesn’t mention any. Neither do they provide information about leverage, spreads or anything else.
From their poorly designed website, we couldn’t find any details about bonuses. Neither from their T&Cs. But you shouldn’t be surprised if you get some special bonus offer. Especially if you want to withdraw your money.
Spago International Trading Features
Spago International broker doesn’t even present you with details about their trading software. Most likely because it’s a useless web-based platform with limited functionalities. In general, something that scam brokers often use. To learn the importance of trusted software like Meta Trader or cTrader, check our BullishFXMarkets review.
Is Spago International Legit?
For a broker with quite unclear offers, you can’t expect to be legit. Especially if they operate without adequate licenses. On top of that, the company claims to be from Hong Kong, yet they show a UK phone number.
Is it to trick UK traders with a VOIP service or something else? Ultimately, you decide if you want to risk your hard-earned money with unlicensed brokers.
Available Trading Assets
Another poor thing about this broker is the Spago International offer of tradeable instruments. There are only 3 categories available. Maybe not even that, considering anonymous software. Anyway, they claim to offer:
- Forex – USD/EUR, EUR/HKD
- Commodities – gold, palladium
- Indices – FTSE100, ASX200
Surprisingly, Spago International trading account types don’t exist. Everyone gets the same unknown conditions without any protection. Practically, there’s no motivation for any trader to start the business with them.
Mobile Trading App
On top of all, the company doesn’t have a trusted mobile app. Which is a great feature to check your results on the go. That’s why in general we advise you to work with licensed brokers. Especially ones that offer MT4/MT5 or cTrader.
Another big flaw of this broker is the missing demo account. It would be a great touch to check what they really offer. Thus, they are hiding everything.
Spago International broker doesn’t offer any educational package. So, if you are a newbie you just have to rely on their advice. Yet, the broker must be licensed to advise you on trading and investing money. Another great example of shady brokers pretending to be legit, you can find in our BizzTrade review.s
Spago International Withdrawal
Important to realize is that this scam broker doesn’t even have a withdrawal policy. Not even funding methods are revealed. Therefore, they can make up anything they want to stop you from getting your money back. Unless you are talking to our experts beforehand.
Spago International customer support is another catchy topic. The company offers a web form, e-mail and UK phone number. Also, there should be an address visible, yet they hide it. Anyway, you can’t expect much of a response from an unregulated broker.
Key Information To Consider About Spago International?
In the first place, the company offers services in countries where strict regulation is required. On top of that, the company’s offer is completely mysterious. They don’t reveal any trading costs or conditions. Neither do they offer a transparent withdrawal policy. With this in mind, you know that withdrawal issues are mandatory.
On the other hand, if you know what you are doing, you can still be safe with these swindlers. If you are using cards for transfers you can get a chargeback in the first 540 days. However, very often crypto transfers are the problematic ones. But not with our refund team. To see the CipherTrace in action, feel free to book your first free consultation with our team. Get in touch today.
What is Spago International?
Spago International is allegedly a Hong Kong-based broker offering shady FX and CFD trading services.
Is Spago International a Scam?
Definitely. The company is not licensed and doesn’t have transparent T&Cs. If you had any issues, contact our refund team for advice.
What Does Spago International Offer?
The company has quite a poor and mysterious offer of currency pairs, commodities and indices.