Wikilix
Contract reading

What SpaceMarket legally published, but does not want you to read

Every clause below is published by SpaceMarket itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: Space Markets (Pty) Ltd

sole discretioncounterparty riskdeemed acceptanceprofit voidingforum waiverhidden feeoffshore entitydormancywithdrawalsbonus lock

Space Markets can take 15% of a deposit you ask back before trading it. Two idle months start a $10 monthly fee that ends with your balance forfeited. The site advertises 1:2000 leverage; the contract grants 1:200 without a request. Synthetics are priced by your counterparty's own random number generator, outside the FSCA licence.

Back to SpaceMarket

Contract risk

Money at risk
8.2/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
7
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
17
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
12
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
5

How the 17 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical7
Warning10
Notice0

section 35 of 41is where the deepest clause sits, 85% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical15%Fee you were not shown. Jump to the clause this comes from.A 15% charge for taking back money you did not tradeCritical$10Fee on an unused account. Jump to the clause this comes from.Two idle months start a $10 monthly fee that ends in forfeitureCritical8Withdrawal limit. Jump to the clause this comes from.Withdrawals run on a policy Space Markets does not publishCritical14 working daysTime to complain. Jump to the clause this comes from.Complaining lets Space Markets close your open trades

What the documents say

17 clauses worth knowing about, worst first, each quoted from SpaceMarket's own files

01

Deposit money, then ask for it back before you have traded enough, and Space Markets can keep 15% of it. Clause 9.5 sets the charge at 15% of the deposited funds. Neither the deposits page nor the withdrawals page mentions it.

In plain words

Dormancy means an account left unused.

Why this matters

You lose $150 on a $1,000 deposit for changing your mind. Clause 9.3 sets the bar low. If you never hold a trade for 10 minutes, the charge applies. Using under 30% of your deposit as margin triggers it too.

Exhibit 1CriticalRarely seen15%

The imposition of the Inactive Fee shall be applied to a withdrawal made by the Client at an amount equal to 15% (fifteen per cent) of the value of the deposited funds.
Clause 9.5 in FSP Client Agreement, p.16
Read from the broker's site on Open the reference

Where it sits: section 19 of 41 in the FSP Client Agreement, 46% of the way through.

What it costsA $1,000 deposit withdrawn without a qualifying trade returns $850. The $150 is the charge in clause 9.5.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must tell a retail client the costs and charges of a service before that client trades. Space Markets puts this 15% charge in clause 9.5 of a 34 page PDF. Its deposits page and its withdrawals page name no charge at all.

SpaceMarket is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingDormancy fees are common. A percentage of the deposit charged for withdrawing before you have traded enough is a different mechanism. It prices your decision to leave, and it grows with the size of your deposit.

  • Worse together with Exhibit 3The charge is set in the contract, but the process that applies it sits in a withdrawals policy Space Markets does not publish.
02

The Synthetics account trades instruments that Primus Markets INTL Ltd creates, owns and prices with its own random number generator. Clause 2.1.8 says they are not linked to any underlying asset. That same company is the other side of your trade.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

The firm that sets the price is the firm that gains when you lose. Space Markets confirms in clause 1.7 that these instruments sit outside its FSCA licence, so the FAIS Act protections do not reach them.

Exhibit 6CriticalRarely seen

“Synthetics” means the synthetic, artificial, simulated, technological instruments created, developed, owned and offered by FXPrimus; which are based on random number generation and may simulate market behaviour of real instruments but are not linked to or derived from any underlying asset, financial or otherwise;
Clause 2.1.8 in Synthetics Terms and Conditions, p.2
Downloaded from the broker's site on Open the reference
Our own capture of spacemarkets.io, taken on Aug 23, 2026The claim, on Site footer on the Account Types page, which lists a Synthetics account at 1:10000 leverageVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose a conflict of this kind to a retail client clearly and before that client trades. Space Markets lists Synthetics beside its regulated accounts, and its client agreement places them outside the FAIS Act.

SpaceMarket is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingA product whose price is generated by the counterparty's own random number generator has no external reference at all. Nothing outside that company can be checked against the price you were filled at.

  • Worse together with Exhibit 8The company that generates the prices is a Vanuatu entity the website never names.
03

Go two months without trading, depositing or withdrawing, and Space Markets treats the account as dormant. It then takes $10 a month from your balance. Once the balance reaches $10 or less, clause 9.2.2 says you forfeit it.

Why this matters

Your money runs down rather than waits for you. The monthly fee eats a small balance. What is left is forfeited when Space Markets closes or archives the account.

Exhibit 2CriticalRarely seen$10

any Trading Account in which the Client has not performed any Trading activity, which includes a failure to make any deposits to and/or withdrawals from such Trading Account, for a period of 2 (two) months or longer, shall be treated as dormant
Clause 9.2 in FSP Client Agreement, p.15
Read from the broker's site on Open the reference

Where it sits: section 18 of 41 in the FSP Client Agreement, 44% of the way through.

What it costsA $100 balance left dormant loses $10 a month. After nine months it stands at $10, and clause 9.2.2 lets Space Markets close the account and keep it.

Our readingMost dormancy clauses stop when the balance reaches zero. This one closes the account while money is still in it, and removes the client's entitlement to that money.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
After 2 months of no activitySpace Markets treats the account as dormant.9.2
Every month after thatA $10 penalty fee is taken out of the balance.9.2.1
Balance at $10 or belowSpace Markets closes or archives the account and you forfeit the balance.9.2.2
04

Every withdrawal, cancellation and refund runs under the Space Markets Withdrawals and Refunds Policy, according to clause 10.1. Space Markets publishes eight legal documents and that policy is not one of them. The contract sets no timetable, no fee and no grounds for refusal of its own.

Why this matters

You agree to withdrawal terms you cannot read before you deposit. Clause 2.1.52 says the policy applies to you as amended, so Space Markets can write it and change it at any time.

Exhibit 3CriticalHarder than usual8

All requests made by the Client pertaining to withdrawals, cancellations, and refunds shall be submitted, handled and processed in accordance with the Space Markets Withdrawals and Refunds Policy.
Clause 10.1 in FSP Client Agreement, p.16
Read from the broker's site on Open the reference
Our own capture of spacemarkets.io, taken on Aug 23, 2026The claim, on About Us page, bulleted list of benefitsVisit this page on the broker's siteDownload the full size image file

Where it sits: section 19 of 41 in the FSP Client Agreement, 46% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must set out withdrawal terms and timescales a retail client can read before depositing. Space Markets points to a withdrawals policy and does not publish it. The same clause set also incorporates an order execution policy and a risk disclosure policy that are not on the site.

SpaceMarket is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

05

The account types page tops its table at 1:2000, and 1:10000 on synthetics. Clause 13.2 says leverage above 1:200 is not automatic and needs a request plus approval. Annexure B lists every ratio from 1:300 upward as available by request only.

Why this matters

You may open an account expecting 1:2000 and be given far less. Clause 13.1 also lets Space Markets cut or withdraw your leverage at any time, with or without notice to you.

Exhibit 9WarningHarder than usual

Leverage of up to 1:200 may be made available to Clients subject to Space Markets’ internal risk, operational and compliance criteria. Any Leverage in excess of 1:200 is not automatically available and may only be granted upon the Client’s request, subject to further assessment and approval by Space Markets in its discretion.
Clause 13.2 in FSP Client Agreement, p.20
Read from the broker's site on Open the reference
Our own capture of spacemarkets.io, taken on Aug 23, 2026The claim, on Account Types page, standfirst paragraph under the headingVisit this page on the broker's siteDownload the full size image file

Where it sits: section 23 of 41 in the FSP Client Agreement, 56% of the way through.

  • Worse together with Exhibit 15High advertised leverage sits next to a clause making any negative balance a debt you owe.

Trades can be unwound and a negative balance is your debt

Clause 19.2 lets Space Markets treat the results of trading it calls prohibited as void, and cancel, close and unwind the transaction immediately. Clause 19.1.14 leaves that judgment to Space Markets with no written test. On the other side of the account, clause 24.1 of the FlareX agreement makes any negative balance payable by you to FlareX.

Reversal powers2 clauses flagged

Trading that Space Markets decides was made in bad faith can be treated as void. Clause 19.2 lets it cancel, close and unwind the transaction with immediate effect. Clause 19.1.14 leaves the judgment to Space Markets alone, with no test written down.

Why this matters

Profit you have already made can be reversed. There is no defined standard for you to argue against, and clause 18.4 removes any refund of fees once Space Markets calls it a material breach.

Exhibit 4CriticalHarder than usual

Space Markets reserves its rights to treat any of the aforesaid as prohibited trading practices or any result of such transactions as void, and to cancel, close and unwind any transaction with immediate effect.
Clause 19.2 in FSP Client Agreement, p.27
Read from the broker's site on Open the reference

Buried at section 33 of 41 in the FSP Client Agreement, 80% of the way through.

  • Worse together with Exhibit 5The voiding power runs on a list that treats any trade closed inside 10 minutes as a prohibited practice.

A negative balance caused by abnormal market conditions is yours to pay. Clause 24.1 of the FlareX agreement makes it payable to FlareX once it sends you a statement. No negative balance protection appears anywhere in the document set.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

A gap in the market can leave you owing money on top of losing your deposit. Space Markets can also move funds between your accounts to cover a negative balance, under clause 12.6.3.

Exhibit 15CriticalHarder than usual

Any negative balance in the Trading Account arising from or the occurrence of Abnormal Market Conditions shall be for the account of the ODP Client and will be payable by the ODP Client to FlareX upon delivery of a Trading Account statement, indicating such negative balance.
Clause 24.1 in ODP Client Agreement, p.15
Read from the broker's site on Open the reference

Buried at section 14 of 20 in the ODP Client Agreement, 70% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA and CySEC, and firms under the ESMA rules, must give retail clients negative balance protection, so a client cannot lose more than the money in the account. The FlareX agreement makes the negative balance payable by you.

SpaceMarket is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Raising a dispute lets Space Markets close your open trades

Clause 17.2.1 lets Space Markets close out your open trades to limit what a dispute is worth. Clause 17.2.2 then blocks every instruction except closing orders. Clause 27.3 makes you wait 14 business days after written notice before starting court proceedings. The FlareX agreement separately gives you 24 hours to report a statement error.

Complaint costs2 clauses flagged

Raise a dispute and Space Markets can close out your open trades to limit the amount in dispute. Clause 17.2.1 gives it that right. Clause 17.2.2 then lets it refuse every trading instruction from you except closing orders.

Why this matters

Complaining can cost you the positions you hold. Before any court claim you must also wait 14 business days after serving written notice, under clause 27.3.

Exhibit 10CriticalRarely seen14 working days

reserve its right to close-out any of the Client’s open Trades for the purpose of limiting the amounts involved in the dispute between Space Markets and the Client; and,
Clause 17.2.1 in FSP Client Agreement, p.24
Read from the broker's site on Open the reference

Buried at section 29 of 41 in the FSP Client Agreement, 71% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must give retail clients a complaints procedure with set response times and free access to an independent ombudsman. Space Markets says it has or may set out a complaints policy, and clause 17.3 makes processing under that policy the gate to the FAIS Ombud. No complaints policy is published.

SpaceMarket is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingMost agreements let a broker freeze new activity during a dispute. Letting it close positions you still hold, to cap what the dispute is worth, turns complaining into a trading decision.

  • Worse together with Exhibit 11One agreement makes complaining costly, the other closes the window for challenging a statement after 24 hours.

FlareX excludes its liability if you do not report an error in your account statement within 24 hours of delivery. Clause 22.2.1 sets that window. Its liability is otherwise limited to the direct loss on the single trade concerned.

In plain words

Indemnities are money it says you owe it.

Why this matters

A pricing or settlement error you spot on Monday is unchallengeable if the statement arrived on Friday. Space Markets caps its own liability separately, at 12 months of payments or whatever indemnity cover it holds.

Exhibit 11WarningHarder than usual1 days

Failure of the ODP Client to report, within 24 (twenty-four) hours from delivery thereof, any error in the ODP Client statements;
Clause 22.2.1 in ODP Client Agreement, p.13
Read from the broker's site on Open the reference

Buried at section 12 of 20 in the ODP Client Agreement, 60% of the way through.

The leverage on the website is not the leverage in the contract

The Space Markets account types page tops out at 1:2000, and 1:10000 for synthetics. Clause 13.2 says anything above 1:200 needs a request and Space Markets approval. The About Us page and the client agreement also give two different registration numbers for Space Markets (Pty) Ltd.

Claim against contract1 clause flagged

The About Us page says Space Markets (Pty) Ltd is registered as 2023 / 651612 / 07. The client agreement says the same company carries registration number 2018/079334/07. Both describe the company you contract with.

Why this matters

You cannot check the company on the public register without knowing which number is right. The FSP number matches in both places, so one of the two registration numbers is wrong.

Exhibit 16Warning

“Space Markets” means Space Markets (Pty) Ltd, a duly incorporated company with registration number 2018/079334/07, and an authorised financial services provider, licensed to act as an Intermediary and provide financial services (as defined), in accordance with license number FSP No. 53183
Clause 2.1.42 in FSP Client Agreement, p.8
Read from the broker's site on Open the reference

Where it sits: section 8 of 41 in the FSP Client Agreement, near the start.

A 100% bonus account with no bonus terms in the document set

Space Markets advertises the Space 100 account with a 100% bonus and publishes no bonus terms. The only written rule about bonuses is clause 2.1.11, which treats using them for artificial turnover or risk free profits as a prohibited practice. Clause 19.3 makes a prohibited practice a material breach.

Promotion terms1 clause flagged

The Space 100 account is advertised with a 100% bonus. Space Markets publishes no bonus terms. The client agreement instead makes using bonuses to create artificial turnover or risk free profits a prohibited practice.

Why this matters

You take a bonus without knowing the turnover rules, because there are none in writing. The only written rule about bonuses can void your trades, and clause 19.3 makes a prohibited practice a material breach.

Exhibit 17WarningHarder than usual100%

“Bonus Arbitrage / Wash Trading” means use of promotional credits, bonuses, or coordinated accounts to create artificial turnover or risk-free profits;
Clause 2.1.11 in FSP Client Agreement, p.4
Read from the broker's site on Open the reference

Buried at section 33 of 41 in the FSP Client Agreement, 80% of the way through.

  • Only applies after Exhibit 4Bonus use is judged under the same prohibited practices clause that lets Space Markets unwind the trades.

Ten minutes is the line between a trade and a prohibited practice

Space Markets defines scalping as any trade entered and exited inside 10 minutes, in clause 2.1.44, and clause 19.1.1 makes it prohibited. Clause 19.1.3 bans every Expert Advisor on a platform sold as MT5. Clause 24.1 lets Space Markets change the whole agreement with or without notice.

Trading limits2 clauses flagged

Space Markets defines scalping as entering and exiting a trade in under 10 minutes. Clause 19.1.1 makes scalping a prohibited practice and clause 19.3 makes it a material breach. Every Expert Advisor is banned too, on a platform sold as MT5.

Why this matters

A trade you close quickly because the market moved can put you in breach. The website says only that scalping is not permitted, and never tells you where the 10 minute line sits.

Exhibit 5WarningHarder than usual

“Scalping” means the Prohibited Trading Practice where a Client enters and exits a Trade or position for a period of less than 10 minutes during Active Trading times;
Clause 2.1.44 in FSP Client Agreement, p.9
Read from the broker's site on Open the reference

Buried at section 33 of 41 in the FSP Client Agreement, 80% of the way through.

Our readingMany brokers restrict scalping. Defining it as any trade under 10 minutes, and banning every Expert Advisor on an MT5 platform, goes further than most.

Space Markets can update, modify, amend or suspend the agreement and its services, with or without notice to you. Clause 24.1 says so. Clause 9.1.1 says the same about its commissions and service fees, and clause 9.2.3 about the dormancy penalties.

Why this matters

Fees you agreed to can change while your money sits in the account. Clause 9.7 puts the duty to spot the change on you, by checking the website.

Exhibit 12WarningHarder than usual

Space Markets reserves the right to make changes to this Agreement and shall be entitled to update, modify, amend, or suspend all or any part of its Services and/or its Trading Terms and Conditions and other Policies as located on the Website, as necessary, and may do so either with or without prior notice to the Client.
Clause 24.1 in FSP Client Agreement, p.29
Read from the broker's site on Open the reference

Buried at section 35 of 41 in the FSP Client Agreement, 85% of the way through.

Your account can be handed to another counterparty on 10 days notice

Clause 22.2 lets Space Markets assign your account to a different Principal on 10 business days notice, and your silence binds you to it. Disputes go to arbitration in Cape Town, held in camera under clause 17.4.4. Synthetics sit under the laws of Vanuatu.

Forum and transfer1 clause flagged

Space Markets can move your account to a different Principal. Clause 22.2 gives you 10 business days notice, and if you do not object in writing the transfer binds you. Disputes go to private arbitration in Cape Town.

Why this matters

You can end up facing a company you never chose, because you did not reply to a notice. Arbitration is held behind closed doors under clause 17.4.4, and the synthetics arm answers to Vanuatu law.

Exhibit 14WarningHarder than usual10 working days

Space Markets may assign the Client’s account to another Principal upon notifying the Client of the date and name of the intended assignee not less than 10 (ten) Days prior to the assignment. Unless the Client objects to the assessment in writing prior to the scheduled date for assignment, such assignment will be binding on the Client.
Clause 22.2 in FSP Client Agreement, p.28
Read from the broker's site on Open the reference

Buried at section 34 of 41 in the FSP Client Agreement, 83% of the way through.

Three business days to produce anything Space Markets asks for

Clause 6.2.6 gives you three business days to hand over any information Space Markets requests, or access to it. The contract sets no limit on what can be asked for. Clause 6.2.7 disables your trading accounts if the firm cannot complete its ongoing due diligence.

Document demands1 clause flagged

Space Markets can ask you for any information it wants, or for access to your information, and clause 6.2.6 gives you three business days to provide it. The contract puts no limit on what can be asked for.

Why this matters

Miss the window and clause 6.2.7 says your trading accounts are disabled. Space Markets then keeps the record for at least five years.

Exhibit 13WarningHarder than usual3 working days

the Client accepts that Space Markets has the discretion to request any relevant information from the Client or access to the Client’s information, which information and/or access shall be provided to Space Markets within 3 (three) Days from its request;
Clause 6.2.6 in FSP Client Agreement, p.11
Read from the broker's site on Open the reference

Where it sits: section 13 of 41 in the FSP Client Agreement, 32% of the way through.

The firm that prices your synthetics also gains when you lose

Clause 2.1.8 of the synthetics terms says Primus Markets INTL Ltd creates, owns and prices the instruments with its own random number generator. On the currency side, clause 11.1.5 of the FlareX agreement says its revenue comes from client net losses. Space Markets names neither company on its website.

Who takes the other side1 clause flagged

FlareX FX (Pty) Ltd is the other side of your trades, not Space Markets. Clause 11.1.5 of its agreement says its revenue is derived from client net losses. It gives its address as the same street in Sandton that Space Markets gives as its own.

Why this matters

The company holding your money in its third party account gains when your trades go against you. Space Markets refers you there, and nothing on its website names FlareX.

Exhibit 7WarningStandard wording

For the avoidance of any doubt, revenue is derived from the ODP Client’s net losses in terms of FlareX’s prevailing license conditions.
Clause 11.1.5 in ODP Client Agreement, p.9
Read from the broker's site on Open the reference

Where it sits: section 9 of 20 in the ODP Client Agreement, 45% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose a conflict of this kind to a retail client clearly and before that client trades. Space Markets states it in clause 11.1.5 of a second agreement, with a second company, that a client has to find on the legal documents page.

SpaceMarket is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 8The counterparty that profits from your losses is one of two companies the website never names.

One brand, three contracting companies

Space Markets (Pty) Ltd holds FSP 53183 and acts only as an intermediary under a FAIS Category we licence. FlareX FX (Pty) Ltd is the counterparty to your trades and holds your money. Primus Markets INTL Ltd in Vanuatu supplies the synthetics, and clause 1.7 says you contract with it directly.

Who you contract with1 clause flagged

Opening an account at spacemarkets.io puts you into contracts with three companies. Space Markets (Pty) Ltd holds FSP 53183 and acts only as an intermediary. FlareX FX (Pty) Ltd is the counterparty to your trades, and Primus Markets INTL Ltd in Vanuatu supplies the synthetics.

Why this matters

A claim about your trade counterparty is a claim against FlareX. A claim about synthetics is a claim in Vanuatu. The website names neither company.

Exhibit 8WarningStandard wording

In terms of its FAIS Category I licence, Space Markets is licensed to provide Intermediary Services and does so on an execution-only, and ‘no Advice basis’, in respect of the Financial Products.
Clause 1.2 in FSP Client Agreement, p.2
Read from the broker's site on Open the reference

Where it sits: section 2 of 41 in the FSP Client Agreement, near the start.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The account types page presents 1:2000 as the tier for a small balance, while the contract makes anything above 1:200 a request Space Markets can refuse.

Said in public, in English

Max leverage per balance/equity: 0-$1k (1:2000), $1001-$2k (1:1000), $2001-$5k (1:500), $5k+ (1:300)

Account Types page, standfirst paragraph under the heading

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of spacemarkets.io

In the contract · clause 13.2

Any Leverage in excess of 1:200 is not automatically available and may only be granted upon the Client’s request, subject to further assessment and approval by Space Markets in its discretion.

02

Synthetics are sold in the same table as the FSCA regulated accounts, and the client agreement places them outside the FAIS Act entirely.

Said in public, in English

Space Markets (Pty) Ltd is an FSCA registered and regulated financial services provider with FSP #53183

Site footer on the Account Types page, which lists a Synthetics account at 1:10000 leverage

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of spacemarkets.io

In the contract · clause 1.7

the Synthetic Instruments are novel, technical instruments and unregulated under the FAIS Act; that the Synthetic Instruments are not Financial Products; and, that the Client contracts directly with the Supplier of the Synthetic Instruments.

03

The website promises withdrawals in 24 to 48 hours while the contract sets no timetable and defers to a policy Space Markets does not publish.

Said in public, in English

Benefit from 24-48 withdrawals

About Us page, bulleted list of benefits

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of spacemarkets.io

In the contract · clause 10.1

All requests made by the Client pertaining to withdrawals, cancellations, and refunds shall be submitted, handled and processed in accordance with the Space Markets Withdrawals and Refunds Policy.

04

The website and the client agreement give two different company registration numbers for Space Markets (Pty) Ltd.

Said in public, in English

Space Markets (Pty) Ltd is incorporated in South Africa with registration number 2023 / 651612 / 07

About Us page footer, LEGAL AND REGULATION block

In the contract · clause 2.1.42

“Space Markets” means Space Markets (Pty) Ltd, a duly incorporated company with registration number 2018/079334/07

05

A zero commission account still carries a 15% charge on withdrawing a deposit you did not trade, plus a $10 monthly dormancy fee.

Said in public, in English

Enjoy a selection of $0 commission accounts

About Us page, bulleted list of benefits

In the contract · clause 9.5

The imposition of the Inactive Fee shall be applied to a withdrawal made by the Client at an amount equal to 15% (fifteen per cent) of the value of the deposited funds.

The documents this reading is based on

12 files, all published by SpaceMarket. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording SpaceMarket publishes.

How this reading was done

Every clause above was read out of a document SpaceMarket publishes itself

This reading was published on .

Documents
2 of 12downloaded from the broker's site, and 2 read in full
Pages opened
23pages walked to find those documents, footer links included
Older copies
1earlier versions downloaded, 1 identical to the copy we hold by fingerprint
Marketing pages
9public pages set against what the contract says
Position measured
16clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

Space Markets (Pty) Ltd

Space Markets (Pty) Ltd holds FSP 53183 and acts only as an intermediary, execution only, under a FAIS Category we licence. It is not the other side of your trades. FlareX FX (Pty) Ltd is the ODP counterparty and holds your money in a third party funds administrator account. Primus Markets INTL Ltd, trading as FXPrimus and registered in Vanuatu, supplies the synthetics, and clause 1.7 says you contract with it directly. The website names only Space Markets. Its About Us page and its client agreement also give two different company registration numbers for Space Markets (Pty) Ltd.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

Space Markets names its counterparty, which most brokers never do. Clause 1.1.1 of the ODP agreement identifies FlareX FX (Pty) Ltd, and clause 11.1.5 says plainly that FlareX earns revenue from client net losses. The synthetics terms go further and admit in clause 2.1.8 that prices come from a random number generator. Client money segregation is explicit in clauses 12.8 to 12.10. Clause 17.3 names the FAIS Ombud as a route after an internal complaint. All eight documents are free PDFs on one page, with no login.

We could not open five of the eight PDFs. Those are the conflict of interest policy, the FAIS disclosures, the PAIA manual, the privacy policy and the referral agreement. We did not read them at all. We read the synthetics terms only as far as clause 18, so the liability, termination and dispute clauses in that agreement are not covered here. Every quotation comes from the FSP client agreement, the ODP client agreement, the first half of the synthetics terms, or the web page named beside it. Space Markets also publishes four of the same documents at a second set of addresses under /web/pdf/, and the conflict of interest file there runs 12 pages against 8 on the legal documents page. We could not tell which of the two binds a client. Only one earlier copy of anything exists, an October 2025 copy of the conflict of interest policy, and it matches today's file exactly. No earlier copy of either client agreement is available, although the FSP agreement calls itself its 7th version. We found no other language version of the site, so no cross language comparison was possible.

How to check any of this yourself

Every quote above links to the SpaceMarket file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document SpaceMarket publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge SpaceMarket on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Aug 23, 2026.

If you represent SpaceMarket and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on SpaceMarket. Whether its licence is real and current is a separate check on the broker profile.

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