FAQs

Spec Markets offers two types of accounts, Standard account and our market leading, Raw Spread account.

ECN Account: This account shows the raw inter-bank spread received from our liquidity providers. There is a commission charge of USD$7 per standard lot round turn.

Standard Account: We do not charge a commission on Standard accounts but instead, there is a markup applied to the spread of 1pip above the raw Inter-bank rate received from our Liquidity providers.

Further information about the different types of trading accounts available can be found on our  Account Overview page.

At Spec Markets, we offer two main account types with different pricing structures to suit various trading styles:

• Standard Account:

  There are no commission charges on Standard Accounts. Instead, we apply a markup to the spread received from our liquidity providers. This provides a simple, all-inclusive cost structure ideal for traders who prefer transparent, commission-free pricing.

• ECN Account:

  Our ECN Account displays the raw interbank spreads sourced directly from our liquidity providers. On this account, we charge a commission of USD $3.50 per standard lot (round turn). This structure is designed for traders who seek the lowest possible spreads with a fixed, transparent commission.

There are two trade account types, a Standard account and ECN account. Spec Markets does not charge a commission on Standard accounts but instead applies a spread mark up of 1 pip above the raw inter-bank prices received from our liquidity providers. ECN account shows the raw inter-bank spread received from our liquidity providers. On this account we commission of USD$7 per standard lot round turn.

Below are commission rates for different base currency accounts:

Spec Markets allows clients to open an account with as little as USD $50.

Our mission is to provide traders with the lowest spreads and fastest execution possible. To learn more about our product offerings, please check out our website.

We also strongly recommend that you thoroughly read our Terms and Conditions  , which outline the associated costs, risks, and your responsibilities, before deciding to trade with us.

This is one of the most frequently asked questions. The challenge in answering it lies in the fact that the terms ECN and STP have been interpreted differently across the industry. Broadly speaking, there are three primary business models used by Forex brokers, which differ based on how transactions are handled, and orders are executed: ECN, STP, and Market Maker.

ECN (Electronic Communication Network):

ECN refers to a network that electronically connects banks and liquidity providers to form bid and ask prices. In the Forex industry, ECN is commonly associated with brokers who stream raw interbank pricing directly to retail clients. Under this model, trades are typically executed at these raw prices and may be offset internally, with another client, or with a liquidity provider. ECN models generally offer tighter spreads and faster execution.

STP (Straight Through Processing):

STP brokers pass clients' trades directly to liquidity providers without any dealing desk intervention. Prices are streamed from the liquidity provider and passed on without any markup or internal processing. This model is similar to ECN in that it aims to deliver transparent pricing and execution, though the technical infrastructure may differ.

Spec Markets’s Execution Model:

Spec Markets is the issuer of the products it provides. We consider ourselves a Forex and CFD provider offering ECN pricing. We source prices from external, unrelated liquidity providers and pass these on to our clients without any dealing desk intervention.

To enhance price certainty and ensure fast execution, we do not offset each and every position with our liquidity providers. This approach allows us to deliver a better overall trading experience while maintaining tight spreads and rapid execution.

When you trade with us, you are trading with Spec Markets as principle, this is the case with all Forex and CFD providers globally.

We do not operate a proprietary trading book, we source our prices from external unrelated liquidity providers or directly, these prices are then passed onto you with no dealing desk intervention.

Spec Markets streams prices from its liquidity providers, who, in their turn, derive those prices from the market (or exchange) in the case of Stocks CFDs and from banks and non-bank liquidity providers in the case of Forex. The source of the underlying market price may vary for each product.

Although Spec Markets’s prices come from its liquidity providers and Spec Markets is not practically involved in the making of the price, simply streaming prices which it receives, the prices nonetheless become Spec Markets’s prices when it provides them to its clients to trade on. This is the case for all derivative products which Spec Markets offers to its clients.

Spec Markets is incorporated in Saint Lucia. While we are not required to obtain an additional license to operate in the FX/CFD industry under the jurisdiction of Saint Lucia, we are committed to adhering to industry best practices to ensure transparency, client protection, and operational integrity.

These practices include, but are not limited to:

• Client money segregation, ensuring that client funds are held separately from company funds.
• Robust risk management and compliance procedures.
• Transparent pricing and execution policies.
• Regular internal reviews to uphold the standards expected by our clients and the global trading community.

Although we may not be licensed by a traditional financial regulator, we take our responsibilities seriously and aim to provide a secure and trustworthy trading environment.

Please note that all client funds are held in segregated client money accounts with top tier banks, away from the company’s own funds. Clients with a net credit balance at the time of insolvency will be paid from funds that are held in the segregated trust accounts.

We only collect personal information which is reasonably necessary to provide you with quality products or services, conduct identification checks to meet our legal regulatory obligations and combat fraud. We do not sell your personal information to any third party for marketing purposes. Our  privacy policy  outlines how we handle our customers’ personal information in detail.

Spec Markets offers flexible leverage options ranging from 1:1 to 1:1000. You can change the leverage on your trading account via your Client Area.

Spec Markets allows you to open multiple trading accounts. You can open an additional trading account via your Client Area.

The opening and closing times of Spec Markets prices are:

Opening time: 00:01 MT5 Server Time (Monday)

Closing time: 23:57 MT5 Server Time (Friday)

Please note the trading times of certain instruments may vary; you should refer to the relevant product section on our website for specific information.

Spec Markets’s rollover occurs at 00:00 MT5 Server Time.

Identification must be provided in the form of photo ID and proof of address to enable us to verify your identity.

Photo ID

• Must be clear and visible
• Must be issued by a government agency
• Name, signature, expiry date and date of birth* must be clear

Proof of Address

• Must be no older than 6 months
• Must show the same name and address as your account application

Our AML & KYC Policy contains further information regarding our identification requirements.

No, Spec Markets does not pay interest on account balances in any currency.

Yes, we allow both hedging and scalping trading strategies. Our spreads and trading conditions are the preferred choice of many day traders and scalpers globally.

Spec Markets is not able to open new positions over the phone. However, should you wish to close out positions, please call our support team and we will accept instructions from you.

An inactivity fee is only charged if your account balance falls below USD $20 (or equivalent) and there have been no trading activities for three consecutive months.

If you decide to resume trading, the inactivity fee may be refunded at our discretion.

While demo accounts and live accounts provide similar trading experiences, the demo accounts are predominantly used for familiarizing yourself with the trading platform and educational purposes only. We do not guarantee that the performance of a demo account will be the same as that of a live account as our demo accounts are not connected to our live trading environment.