Spartan Capital Group is a top financial services firm that has caught the eye of many investors and traders. They offer a variety of services like day trading, swing trading, and educational programs. However, their performance and customer experience have received mixed reviews.
We will look into the detailed feedback from Spartan Capital Group’s clients. We will examine both the good and bad points of their services.
Key Takeaways
- Spartan Capital Group offers a range of trading and investment services, including day trading, swing trading, and educational programs.
- The company has faced regulatory actions, including a $115,000 FINRA fine in 2023 and an SEC lawsuit in 2021 alleging fraudulent activity.
- Customer reviews paint a mixed picture, with some praising the trading services and educational support, while others report significant losses and poor investment advice.
- Complaints center around sales practices, investment advice, and the company’s overall performance and transparency.
- Evaluating Spartan Capital Group’s track record and regulatory standing is crucial for potential clients to make informed decisions.
Understanding Spartan Capital Group Background
Spartan Capital Group is a New York-based financial services firm. It has a history filled with growth and regulatory challenges. The company focuses on merchant cash advance direct lenders, capital funding services, and working capital solutions. It serves a wide range of industries.
Company History and Formation
Spartan Capital Securities, LLC (CRD# 146251) was set up to offer day trading, swing trading, and educational services. It specializes in trading stocks, options, and other financial instruments. The focus is on the financials, airlines, and FANG sectors.
Core Business Services
Spartan Capital Group provides a variety of recruitment and staffing solutions. This includes contract placements and permanent hires. It serves sectors like Information Technology, Accounting & Finance, HR & Office Professionals, and Sales & Marketing. The company connects top talent with leading organizations.
Regulatory Standing
However, Spartan Capital Securities’ regulatory standing has been compromised. The firm has faced complaints and regulatory actions since 2017. It failed to report 223 required amendments for 72 brokers and underreported 162 instances related to customer-initiated arbitrations.
This has led to fines and suspensions for key executives. Concerns have been raised about the company’s compliance with industry regulations.
| Regulatory Infraction | Penalty |
|---|---|
| Failure to report 223 required amendments for 72 brokers | $600,000 fine |
| Underreporting 162 instances related to customer-initiated arbitrations | $600,000 fine, hire of outside consultant for supervision improvement |
| Fines and suspensions for key executives John Lowry and Kim Monchik | $40,000 and $30,000 fines, respectively, and a two-year suspension from associating with any FINRA member firm |
These regulatory issues have raised concerns about Spartan Capital Securities’ adherence to industry standards. They also impact client trust and satisfaction.
Recent Legal Challenges and FINRA Actions
Spartan Capital Securities, LLC (CRD# 146251) has seen a lot of regulatory events and legal issues. This has raised concerns about the firm’s practices. The company works in areas like corporate securities and mutual funds.
It has had 7 regulatory events, showing it’s been watched closely. There’s also 1 civil event against it, showing legal troubles. Spartan Capital has been in 4 arbitration cases, showing big disputes with investors.
In 2023, Spartan Capital was fined $115,000 by FINRA for slow responses. This shows the firm might have issues with following rules. In 2021, the SEC sued Spartan Securities Group, Ltd. and others for fraud.
Many customer complaints and actions by regulators show big worries about Spartan Capital. Investors should do their homework and talk to advisors before investing. This helps protect their money.
| Regulatory Event | Year | Outcome |
|---|---|---|
| FINRA Fine | 2023 | $115,000 fine for failure to respond to information requests |
| SEC Lawsuit | 2021 | Allegations of fraudulent activity and misrepresentation in public listing of securities |
The legal and regulatory issues with Spartan Capital Securities are serious. Investors need to be careful and do their homework. By staying informed and getting advice, they can make better choices and keep their money safe.
Customer Experience and Trading Platform Features
Spartan Capital Group’s trading platform has mixed reviews. Some clients like the real-time features for trades. But, others have complained about poor advice and hidden risks.
The company offers many educational tools. These include webinars, a trading system, and one-on-one calls. They aim to help clients learn and grow.
User Interface Analysis
The Spartan Capital Group platform is designed for different traders. It has swing and day trading rooms. The interface is easy to use, with clear navigation and access to tools.
Trading Tools and Resources
- Spartan Trade has a demo account for forex trading. It uses virtual currency for risk-free practice.
- The platform is great for beginners. It has features and resources for new investors.
- It’s known for fast and reliable order executions. This is perfect for traders who need quick transactions.
- The company offers 24/7 customer service. A dedicated team is always ready to help with any questions or concerns.
Educational Support
The platform supports virtual trading with real-time quotes and charts. This lets users test strategies without risk. Spartan Capital Group also offers webinars and one-on-one calls.
These resources help clients understand the market better. They also improve trading skills.
| Feature | Description |
|---|---|
| Demo Account | Spartan Trade offers a unique demo account for forex trading that allows users to test the platform with virtual currency, providing a risk-free environment for practicing trading strategies. |
| Beginner-Friendly | The platform is designed with beginners in mind, offering novice-friendly features and resources to help new investors get started. |
| Fast Execution | Spartan Trade prides itself on providing fast, efficient, and reliable order executions, making it an ideal choice for traders who require swift transaction processing. |
| Customer Support | The company ensures excellent customer service, with a dedicated team of experts available 24/7 to assist clients with any inquiries or concerns they may have. |
Spartan Capital Group Reviews: What Clients Say
Spartan Capital Group’s client reviews show mixed opinions. Some clients have seen big losses and poor investment results. One client lost over 8% in less than a year.
But, others have praised the company’s skills in technical analysis, educational resources, and support. They say the company is transparent about trade outcomes and has moderators ready to help.
Positive feedback also mentions the quick availability of small business cash advance and no doc business loans. One client got funds in just 5 hours, showing the company’s quick action.
“Spartan Capital helped with a delay in repayment of over $100k. The company worked to provide funds within 24 hours of application, and the flexible repayment options were very helpful.”
Yet, some reviews are critical. They say the company focuses more on making money than on helping clients succeed. There are also claims of unauthorized trading and bad investment advice.
- Spartan Capital Securities has faced many complaints from FINRA, state regulators, and investors.
- There have been hundreds of complaints about the company’s sales and investment advisors.
- The company has been in trouble with FINRA and other agencies for breaking rules.
Even with mixed reviews, some clients value Spartan Capital Group’s quick and flexible loans. But, the company’s legal troubles and investment issues are big concerns for others.
Investment Performance and Track Record
The investment results at Spartan Capital Private Wealth Management LLC vary a lot. Some clients say they lost a lot, while others claim steady profits. The swing trading group reports average gains of 10,000% per month, but this needs a big investment. Others say they make 100-200% every 6 weeks.
Return on Investment Analysis
The ROI for Spartan Capital’s clients is mixed. The swing trading group’s huge returns should be viewed skeptically. Clients report more realistic gains of 100-200% every 6 weeks, or sometimes losses. This shows the importance of managing risk and diversifying investments.
Risk Management Approach
Spartan Capital uses stop-loss orders and target prices for trades. Yet, some clients still face big losses. It’s key to check how well the company manages risk and delivers returns before investing.
“The investment performance and risk management at Spartan Capital have been a mixed bag for our clients. While some have experienced substantial gains, others have faced unexpected losses. Transparency and diligent risk assessment are crucial when entrusting your investments with any financial institution.”
Trading Services and Support Structure
Spartan Capital Group offers a wide range of trading services. They cater to different client needs with swing trading and day trading options. These services support both short-term and long-term investment plans.
Traders at Spartan Capital Group get real-time trade calls. These calls include entry points, stop-loss levels, and target prices. This helps traders make quick, informed decisions in the market.
The company has a strong support system. It includes live chat rooms, webinars, and one-on-one consultations. These tools help traders understand the best business loans and sba loan markets better.
Some clients have praised Spartan Capital Group’s support and education. However, others have raised concerns about the quality of trade calls. They claim to have lost money by following the company’s advice.
| Trading Services | Support Structure |
|---|---|
|
|
Before joining, it’s important to research Spartan Capital Group. Look at both the good and bad feedback from current clients. This will help you decide if their services match your investment goals and risk level.
Regulatory Compliance and Security Measures
At Spartan Capital, keeping up with strict rules and strong security is key. Recent fines and lawsuits have raised questions about the firm’s practices. Yet, Spartan Capital vows to meet top industry standards and protect client money.
Security Protocols
Spartan Capital Securities, LLC has a wide range of security steps to keep client info and deals safe. The firm only lets certain employees see personal account details, following the best practices. Also, Spartan Capital doesn’t share client private info with outside companies or service providers, keeping client data safe.
Client Fund Protection
- Spartan Capital follows the California Consumer Privacy Act (CCPA), giving California residents the right to ask for their personal info up to 2 times a year.
- Customers can choose not to share their personal info with outside companies by contacting Spartan Capital Securities, LLC directly.
- Following California laws, Spartan Capital only shares info with affiliates as needed.
- People in California can ask Spartan Capital Securities, LLC about their personal info, where it comes from, why it’s collected, and who it’s shared with.
Despite worries about Spartan Capital’s rule following, the firm’s focus on protecting client data and following industry rules helps ease these concerns. As investors look for information on NerdWallet, Spartan Capital’s security steps and how they protect client funds are key to consider.
“Spartan Capital takes the security and privacy of our clients’ information very seriously. We have implemented rigorous protocols to protect against unauthorized access and ensure the confidentiality of all non-public personal data.”
Comparing Spartan Capital with Competitors
Spartan Capital Group is part of a competitive investment and trading services world. It has mixed reviews from clients, showing both good points and areas to work on compared to others.
Some clients like Spartan Capital’s technical analysis and educational tools. Yet, others have found better experiences elsewhere. The company’s legal issues and regulatory problems also make it stand out, but not in a good way.
Interestingly, some clients say Spartan Capital beats other chat rooms in success and support. This shows the company might have unique benefits for some customers.
| Metric | Spartan Capital | David Lerner Associates | Aegis Venture Funds | J.P. Turner |
|---|---|---|---|---|
| Revenue | $5M | N/A | N/A | N/A |
| Employees | 50 | N/A | N/A | N/A |
| Founded | 2008 | N/A | N/A | N/A |
| Gender Diversity | 11% women, 89% men | N/A | N/A | N/A |
| Ethnic Diversity | 52% White, 19% Hispanic/Latino, 14% Asian | N/A | N/A | N/A |
| Average Salary | $63,041 | $84,387 | $76,812 | $67,847 |
| Average Tenure | 2.6 years | N/A | N/A | N/A |
| Diversity Score | 7.0/10 | N/A | N/A | N/A |
| Performance Score | 8.7/10 | N/A | N/A | N/A |
The investment and trading world is always changing. Spartan Capital Group needs to keep up and solve its problems to stay competitive. Its success and how happy clients are will help decide its place among others in the market.
Fees, Commissions, and Pricing Structure
Understanding Spartan Capital Group’s fees can be tricky. The company’s chat room service costs about $200 per month. Some clients think it’s worth it for the insights and support. But others see it as too high, especially if they’ve lost money trading.
The details on Spartan Capital’s trading costs and investment charges are unclear. This makes it hard for people thinking about working with the firm to know the real cost.
Trading Costs Breakdown
Recent actions by regulators have looked into Spartan Capital’s trading. An analysis of 66 customer accounts showed that Mr. Reda charged $952,764 in commissions and fees. Meanwhile, the customers lost $934,482. This raises questions about too much trading and high costs compared to what clients get back.
Hidden Fees Analysis
There are reports of Spartan Capital’s hidden fees and charges. The company is accused of excessively trading in 21 customer accounts, leading to $264,734 in commissions and fees. Also, there are claims of excessive commissions averaging 8.6% on buy transactions in 22 accounts.
Even though reviews don’t mention hidden fees, the regulatory actions and complaints suggest Spartan Capital’s pricing might not be clear. This could lead to unexpected costs for clients.
“Spartan Capital’s unclear pricing and hidden fees have upset many clients. We advise investors to carefully check the firm’s charges. Make sure they are credibly matched with the services they get.”
Conclusion
Spartan Capital Group has mixed reviews from clients and regulatory actions. Some clients have had good experiences and made money. But, others have lost a lot. The company has faced legal issues and fines, which raises concerns.
Before investing, it’s important to do your homework. Talk to a financial advisor to get a clear view. This will help you decide if Spartan Capital Group is right for you.
The company’s success in trading is debated. Some clients have made money, while others have lost a lot. The regulatory actions and legal challenges are also worrying signs.
Transparency about fees and clear communication are areas for improvement. These issues are important for investors to consider.
Investors should think carefully before choosing Spartan Capital Group. Getting advice from a financial expert is crucial. This way, you can make a well-informed decision that fits your goals and risk level.
FAQ
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Source Links
- Spartan Trading is rated "Excellent" with 4.4 / 5 on Trustpilot
- Complaints & Regulatory Actions Against Spartan Capital Securities | Sonn Law
- Recruiting With You in Mind – Spartan Capital Group – Home
- Spartan Capital Securities Lawsuit, Complaints & FINRA Regulatory Action | Bakhtiari & Harrison
- KlaymanToskesSpartan Capital Securities: Broker & Firm Complaints
- Spartan Capital Lawsuit: What Investors Need to Know
- Update on Spartan Capital Securities | Bakhtiari & Harrison
- Spartan Trade Review – One Of The Best Service In All Of Trading
- Is the Autopilot Investment App Worth It? A Detailed Review
- Working Capital When You Need It! – Working Capital & Small Business Funding
- Spartan Capital Securities: Customer Complaints & Regulatory Actions
- Spartan Capital Private Wealth Management llc – Spartan Capital Securities
- Spartan Resources Limited (ASX:SPR) Is Expected To Breakeven In The Near Future
- A Comprehensive Analysis Of Spartan Capital Securities Complaints And Ratings To Reveal The Truth
- Privacy Policy/CCPA – Spartan Capital Securities
- Disclaimer & Terms of use – Spartan Capital Management, LLC
- Working At Spartan Capital: Employee Reviews and Culture
- 1847 Engages Spartan Capital to Explore Strategic Options, Including Potential Privatization – Spartan Capital Securities
- Other Disclosures – Spartan Capital Securities
- FINRA Files Enforcement Action Against Marc Reda of Spartan Capital Securities
- Has John Lowry of Spartan Capital Cause You Investment Losses?
- 1847 Announces Pricing of $1.869 Million Public Offering – Spartan Capital Securities
- Spartan Capital Business Loan Review: We Did The Research
- Spartan Capital Charged With Failing To Report Investor Complaints Securities Arbitration – Investment Fraud Lawyers