SPM Finance Review: Broker Reliability Check
According to information from SPM Finance, the company is one of the leading brokers in Europe and the CIS, ranking in the top 20. Previously, they focused on working with legal entities, but starting from 2020, they also offer services to retail investors. Recently, the first reviews about this company have emerged, raising doubts. Therefore, it was decided to conduct a check of the SPM Finance broker to provide reasoned information.
Main Company Information
The official SPM Finance website is available exclusively in Russian, suggesting that it is not a European company, but rather a local financial firm mainly targeting traders from CIS countries. The company claims that their trading turnover for 2020 amounted to 673.6 billion dollars, and they also received the Tagline Awards for 2021.
Analysis of the information provided by the Whois service revealed that the information about the long and successful operation of SPM Finance is inaccurate. Their website was launched only in July 2022, so reviews about the company began to appear recently.
It is important to note that reliable organizations do not hide their experience and are transparent in their relationships with clients, striving to earn users’ trust.
Licensing Situation
The lack of access to the company’s legal documents indicates its illegal activities and the absence of intent to fulfill its obligations to clients. Checking with the Turkish regulator, considering the declared presence of an office in Istanbul, yielded no results. Additionally, SPM Finance is not listed in either the Central Bank of Russia registry or the Agency of the Republic of Kazakhstan for financial regulation and market development. Such behavior violates Federal Law 460-FZ, which requires registration of financial intermediaries and licensing.
Scammers avoid providing the necessary documents and regulating relationships with clients, confirming their dishonest intentions.
Investment Opportunities
Reviews about SPM Finance point to their intention to deceive inexperienced investors. The company offers various tariff plans, starting from “Bronze” with a minimum deposit of $250 to “Platinum” with a contribution of $5000. Additionally, there are investment programs with durations from 1 to 90 days, promising returns of up to 1% daily.
- “Bronze” – entry threshold $250, leverage up to 1:10;
- “Silver” – minimum deposit $500, leverage up to 1:50;
- “Gold” – starting contribution $1000, leverage up to 100x;
- “Platinum” – contribution $5000, leverage up to 500x.
Warnings from experienced traders highlight the risks associated with investing in SPM Finance and their intention to deceive clients.
Conclusions
After the analysis conducted, it can be concluded that SPM Finance is an unserious company operating without licenses and official registration. Their activities are based on deception and manipulations, aimed at avoiding responsibility and unjustifiably capturing investors’ funds. It is recommended to avoid cooperation with this company to prevent financial losses and negative experiences.
