SPACE MARKETS Review: What Traders Should Know Before Depositing

SPACE MARKETS, operated by Space Markets (Pty) Ltd, is a South African broker with a R50 minimum deposit and MT5 trading. WikiFX scores it 6.17 out of 10, low enough that the safety questions should be answered before money is sent. There is an FSCA licence record, but the profile labels the platform "unregulated", and a Central Bank of Russia (CBR) warning adds a further caution signal.

Contents

01

Company Overview

02

Regulation and Safety

03

Trading Products and Accounts

04

Advantages and Risks

05

Final Thoughts

Company Overview

Space Markets (Pty) Ltd is registered in South Africa and was established in 2023. It offers forex, indices and stocks through MT5, with a R50 minimum deposit keeping the entry barrier low.

Regulation and Safety

WikiFX lists a Financial Sector Conduct Authority (FSCA) Derivatives Trading Licence for Space Markets (Pty) Ltd under licence number 53183, marked as regulated. That record does not fully settle the question: the broker's profile summary lists its regulation as "Unregulated", which sits awkwardly alongside the regulated FSCA entry. This mismatch is worth checking against the FSCA register before depositing.

A separate disclosure is more concerning. The Central Bank of Russia (CBR) added SPACEMARKETS.IO to its list of entities with detected signs of illegal activity in the financial market on 25 September 2024, citing signs of an illegal professional securities market participant. The warning is aimed at the Russian market, but it is a signal any prospective client should weigh.

Trading Products and Accounts

Trading runs on MT5, covering forex, indices and stocks. Spreads start from 0.0 pips on some accounts, and maximum leverage is advertised at up to 1:2000. The account structure is built around a low R50 minimum deposit, with a range of account types. Leverage is the main risk here: at up to 1:2000, a small adverse move can erase a retail account quickly.

Advantages and Risks

The clearest advantages are the low R50 entry point, MT5 access, instruments beyond forex, and spreads from 0.0 pips. The clearest risks are the "unregulated" profile label, the CBR warning, and very high leverage. A friendly entry point does not reduce those risks.

Final Thoughts

SPACE MARKETS is a low-cost South African broker with a genuine FSCA licence record on one side and a CBR warning plus a mismatched "unregulated" profile label on the other. The products and low deposit are real, but the regulatory picture is not clean enough to take at face value.

Before depositing, verify the FSCA licence number against the regulator's register and treat the advertised leverage as the main risk. Test withdrawals with a small amount first, and check the live score and any new complaints on the WikiFX App before committing more capital.

Finally, WikiFX would like to remind everyone that before using any US stock, futures, or forex brokers, remember to check the platform's regulatory information, trading environment, field inspection reports, user reviews, and overall rating on the WikiFX App. This will help you effectively avoid problematic scam platforms and rogue brokers, safeguarding your capital.