Space World Capital - The Forex Broker You Should Not Partner with

The lack of response to customer queries and intentional bad moves symbolize Space World Capital, a forex broker based in Comoros. Many investors are complaining about the lack of transparency in Space World Capitals operations. Although it offers smart trading software to investors, preventing them from accessing their funds outweighs whatever system-based benefits investors may have with the company. Ultimately, it boils down to the accessibility of funds, which, unfortunately, is not the case for most traders at Space World Capital.

No Client Consent, No Service - Space World Capital Has Lost Trust

Space World Capital follows the approach of providing good services initially before making everything bad for them. This is a tactic cleverly employed by the company to attract more investments from traders who dont seem to have an eye for the mountain of problems lying ahead of them. Because Space World Capital uses these funds to serve its own goals rather than those of investors.

User Report on Forceful Position Closure by Space World Capital

An India-based user complained on different platforms about the problems he faced with Space World Capital. As per his admission, he had two accounts at the forex brokerage firm. Initially, it was all smooth before it went downhill for the investor.

Space World Capital is alleged to have forcefully closed the investors gold short position of 13.5 lots at the rate of 2782.93. The actual price at the time of closure was 2713, resulting in a loss of $70,000 in one account. He further requested a withdrawal of $7,000 in his second account with the forex broker. However, that has not been processed. While he has been constantly complaining about the issue, there does not seem to be any positive response from the broker to this pressing issue.

Here are the customers reviews on different platforms

What Does WikiFX Have to Say on Space World Capital?

WikiFX, a renowned forex broker regulator inquiry app, has observed Space World Capital from various aspects concerning the forex business. While on the regulatory license aspect, it does not score a point. The broker does not hold a regulatory license to operate in the forex market.

On the software front, it does score 7.73 out of 10, but scores zero on parameters such as risk control and license.

On the ‘business’ parameter, the score of 4.95 is way short of expectations. Overall, the score remains 1.80 out of 10, clearly raising the suspicion over the transparency of forex transactions with the Comoros-based brokerage firm.

Conclusion

Space World Capital is indeed a forex broker you can ill afford because of the lack of transparency, withdrawal issues, and several other problems it compounds for investors. As an informed trader, you should not compromise on the legitimacy of a forex broker. Check their regulation status on credible apps such as WikiFX before considering trading via brokers.