Sparklo is a cryptocurrency trading platform that claims to offer a high return on investment. However, there are a number of red flags that suggest that Sparklo is a scam.
Company Overview
Sparklo is a relatively new company, having been founded in 2022. The company’s website is poorly designed and contains a number of grammatical errors. There is no information about the company’s founders or management team.
Does Sparklo Have Any License?
Sparklo does not have any licenses to operate as a financial services provider in any jurisdiction. Their website’s “About Us” section only tells some sentences about them. No mention of licenses or regulations to provide this kind of trading service.
Does Any Authority regulate Sparklo?
Sparklo is not regulated by any financial authority. We did not find any regulation from any regulatory organizations about them.
Sparklo Pros and Cons
Pros:
- Professionally designed website.
- New trading ideas.
Cons:
- The company is not licensed or regulated.
- There is no information about the company’s founders or management team.
- There have been reports of customer complaints.
How Does Sparklo Reach To Their Prey?
Sparklo reaches out to potential victims through a variety of channels, including:
- Online ads
- Social media
- Cold calls
The company’s ads often make unrealistic promises of high returns with little or no risk. They also target people who are new to cryptocurrency trading.
Technical Details of Sparklo
Minimum Deposit:
The minimum deposit to open an account with Sparklo is $10,000.
Trading Platform:
Sparklo uses the MetaTrader 5 trading platform. This is a popular platform that is used by many legitimate brokers. However, there have been reports of problems with the Sparklo version of the platform. Also, they don’t provide any demo account to check the platform and trading capacity.
Spread:
The spreads on Sparklo are competitive. However, they can widen significantly during times of market volatility.
Leverages:
Sparklo offers high leverages up to 1:1000. This means that you can control a large position with a small deposit. However, high leverage can also magnify your losses.
Packages and Products They Offer
Sparklo offers a variety of packages and products, including:
- A basic package that allows you to trade cryptocurrencies
- A premium package that gives you access to more features, such as technical analysis tools and educational resources
- A VIP package that provides you with a dedicated account manager and other VIP services
Their VIP packages have three options:
Withdrawal and Deposit Method
Sparklo offers a variety of withdrawal and deposit methods, including:
- Credit cards
- Debit cards
- Bank transfers
- Cryptocurrency
What Do Their Previous Traders Say?
There have been a number of complaints from previous traders of Sparklo. These complaints include:
- Problems with withdrawals
- Account freezes
- Unrealistic profit promises
- Shady marketing practices
Summing Up- Why Should Not You Trust Sparklo
There are a number of reasons why you should not trust Sparklo. The company is not licensed or regulated, the website is poorly designed, and there have been a number of customer complaints. Additionally, the company’s marketing practices are shady and they make unrealistic promises of high returns.
If you are looking to invest in cryptocurrency, it is important to do your research and choose a legitimate broker. Sparklo is not a legitimate broker and you should avoid it at all costs.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to Sparklo, you may be able to get your money back through a chargeback. A chargeback is a dispute process that allows you to get your money back from your credit card company if you have been scammed.
But, reporting to financial authority or chargeback claiming cannot always solve the problem. For a quick solution, you should contact us. We will analyze the case and will provide you with a free consultation to help you recover the lost funds.
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Final Thought
At the end of this article, we finally tell you that this broker cannot be trustworthy. Your investment is not safe with this broker. If you want to invest or a novice broker, you can find a reliable broker from our broker list.
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