Markets.com Review 2018
- Trading Platforms
- Cryptocurrencies Trading
- Account Types
- Commissions and Spreads
- Deposits and Withdrawals Options
- Customer Support
- Pros and Cons
Markets.com is an online Forex, CFD, stocks, indices and ETF brokerage firm that were founded in 2008. The platform is owned and managed by a company called Safecap Investment Ltd, a subsidiary of Playtech PLC. The holding company is listed on the London Stock Exchange and trades under the ticker symbol “PTEC”. Playtech Plc also forms a constituent of the FTSE 250 market Index. Apart from being an official sponsor of the Arsenal Football Club, Markets.com is also a regulated broker in two different jurisdictions, the Eurozone and South Africa.
Markets.com Video Review
As mentioned earlier, Markets.com is regulated and authorized to operate in 2 different jurisdictions, which is the Eurozone and South Africa.
- For the Eurozone, the Markets.com is regulated by the Cyprus Securities Exchange Commission (CySEC) and operates under the CIF license number 092/08. As Cyprus is a European Union (EU) member state, its financial regulatory framework is MiFID compliant and hence recognized by all the states operating within the Eurozone.
- For South Africa, Markets.com is regulated by the Financial Services Board (FSB) of South Africa and operates under the Financial Services Provider license number 43906.
As a regulated broker under both CySEC and the FSB, Markets.com maintains an uncompromising stand with regards to its operational standards. Furthermore, the broker is legally obliged to comply with all the strict regulatory requirements imposed by both CySEC and the FSB. For example, the broker is required to submit financial reports regularly to CySEC for validation of its capital adequacy ratio. In addition, Markets.com is required to maintain segregated accounts to separate its operational funds from its clients’ funds. These measures are all in place to ensure the safety of Markets.com’s clients’ money.
For their web security, Markets.com uses SSL security to protect their servers from unauthorized intrusions. The measures taken include the following:
- Dealing only with Level PCI certified international payment service providers
- Firewalls and SSL software to protect data being transmitted
- Servers are parked at SAS 70 certified data centers
In recognition of the quality of their services, Markets.com has won several awards from international finance reviewers. Some of the awards won include
- Best Broker in Customer Service Europe 2012” (Global Banking & Finance Review)
- Best Customer Service 2012 (London Investor Show Forex)
Markets.com Trading Platforms
With regards to their trading platforms, Markets.com main platform is a proprietary trading platform that is available as a web-based platform and a mobile trading app optimized for Android and iOS-powered devices.
The Markets WebTrader platform is a user-friendly trading platform with an advanced charting package. It also comes integrated with a wide array of technical indicators which traders can use to enhance their market analysis. Developed in-house to meet the specific needs of their traders, the Markets WebTrader platform also comes with unique features such as the trading cubes. This feature allows traders to view several instruments simultaneously hence enabling them to streamline the trading process. In addition, real-time news feeds also enable traders to keep track of major developments that are happening in the markets.
To cater to traders who want to trade with a more familiar trading platform, Markets.com has also provided the MT4 platform. The MT4 platform comes with its standard offering and can be easily accessed on the main trading screen. To access the MT4 platform, simply click on “My Account” menu and then select “MT4 Accounts”.
For traders wanted to trade the markets with full mobility using just their smartphones, Markets.com has also provided mobile-optimized versions of their trading platform. The mobile trading apps are available for download at Google Play Store and Apple App Store.
Markets.com Trade Types/Instruments
In terms of the types of instruments that are available at Markets.com, the broker offers spot forex, CFD and ETF trading. Coverage of the markets includes more than 2000 different assets consisting of forex, commodities, stocks, market indices and precious metals.
Markets.com Cryptocurrencies Trading
Initially established in 2006 as SafeCap Investments, Markets.com began to offer Bitcoin trading in 2013. Today, the broker has expanded its range of cryptocurrency capabilities to cover nearly a dozen cryptocurrency pairs. While many will consider Markets.com to be a relatively young broker, the fact that it is regulated by the Cyprus Securities and Exchange Commission proves that the broker is legitimate and trustworthy. Apart from having your trading funds protected under the Investor Compensation Fund Scheme, trading cryptocurrencies at Markets.com offer several advantages over trading cryptocurrencies on a cryptocurrency exchange.
Less Hassle and More Affordable
For starters when you trade cryptocurrencies at Markets.com, you are trading with a derivative contract instead of the actual cryptocurrency itself. This means that you do not need to set up a crypto wallet to hold your investments. In addition, since you are dealing with a derivative contract as opposed to the physical asset, your investment is only a fraction of what it would cost you, had you purchased the cryptocurrency itself.
With Markets.com’s CFDs, you can trade with leverage as up to 1:5. In other words, you can start off trading cryptocurrencies with a small capital.
Wide Range of Cryptocurrencies
At Markets.com, you have a selection of 11 different cryptocurrency pairs to trade with. They include:
- Bitcoin (BTC/EUR)
- Bitcoin (BTC/USD)
- Bitcoin Cash (USD)
- Dash (DASH/EUR)
- Dash (DASH/USD)
- Ethereum (ETH/EUR)
- Ethereum (ETH/USD)
- Ethereum Classic (ETC/USD)
- Litecoin (LTC/EUR)
- Litecoin (LTC/USD)
- Ripple (XRP/USD)
Risk Management Tools
With the advanced Markets.com’s trading platform, you can minimize your trading risks with risk management tools such as take profit or stop loss.
Markets.com Account Types
For standard trading, Markets.com has provided 3 main types of trading accounts. They consist of:
- Real account – $100 minimum deposit for this account.
- Demo account – A demo account is also available to traders who wish to test Markets.com’s trading platform and services before they commit by depositing real money into their trading account.
- For Muslim traders, Markets.com has also provided swap free accounts which operate in accordance with the Islamic Sharia Principle of interest-free trading.
The maximum available leverage for these different types of trading accounts is the same which is 1:300 for forex trading.
All the above-mentioned accounts are provided with:
- Daily market analysis
- 24 hours customer service
- Webinars (Only on certain days and times)
- Support from dedicated account managers.
Markets.com Commissions and Spreads
At Markets.com all trades are free from commission charges. Instead, traders have to choose between fixed or floating spreads when trading spot forex. The applicable spreads are quite competitive with the spreads for popular currency pairs such as the EUR/USD being fixed at 2 pips.
Nevertheless, traders at Markets.com should note that the spreads for Markets WebTrader and Markets MT4 platforms are different with the former being more competitive. Below is the list of applicable spreads for some of the more popular currency pairs.
Spreads may vary according to the broker’s policy.
Markets.com Deposits and Withdrawals Options
For the deposits of funds into Markets.com trading accounts, there are wide of methods which traders at Markets.com can use. The main methods consist of:
- Bank wire transfer
- Major credit cards
For traders who find the above-listed methods as inconvenient or expensive to use, there are also additional deposit methods supported by Markets.com: BankLink (SwedBank), eKonto, Fast Bank Transfers (Envoy/WorldPay), Giropay, Ideal, Instant Bank, Mistercash, Multibanco, Przelewy24, Sofort.
For withdrawals, Markets.com will return the fund through the same method has been used for deposits. For example, if a trader has used his credit card to fund his trading account, then the withdrawal method will also be the credit card. While Markets.com does not impose a fee on withdrawals, they do require that the amount withdrawn meets the minimum withdrawal amount which is:
- Credit/Debit card: minimum 10 USD/EUR/GBP
- Skrill/Neteller: minimum 5 USD/EUR/GBP
- Wire Transfer: minimum 100 USD/EUR/GBP and 20 EUR within EU
It takes one business day for a withdrawal request to be processed by Markets.com. Once the withdrawal request has been approved, it may take an additional few days before the entire withdrawal process is completed and money posted to the trader’s bank account.
Markets.com Customer Support
To support non-English speaking traders, Markets.com website is available in 15 major languages. Some of the supported languages include Arabic, Dutch, French, German, Italian, Norwegian, Russian, Spanish, Swedish.
As for the customer support services, traders can contact the support team through email or live chat 24 hours 5 days per week.
Markets.com Pros and Cons
- Regulated broker in multiple jurisdictions
- Multiple choices of trading platforms
- Intuitive Web-based trading platform
- Wide range of trading assets
- Free No deposit award upon registration
- No phone support on weekends
- Complicated Website navigation
Is Markets.com regulated?
Yes, Markets.com is a regulated broker for the Eurozone and South Africa financial markets. For the Eurozone authorization, Markets.com operates with a CIF license issued by the Cyprus Securities Exchange Commission (CySEC). In South Africa, Markets.com is regulated by a financial service provider license issued by the South African Financial Services Board.
How safe is Markets.com? Is Markets.com a scam?
In addition to having regulatory oversight, Markets.com traders’ funds are protected under the Investors Compensation Scheme managed by CySEC. This means should ever Markets.com become unable to fulfill its contractual obligations, traders can file for compensation. Markets.com also offers an extra layer of security through SSL protection – this encrypts customer data and protects it against fraudulent activity.
Where is Markets.com based?
Markets.com headquarter is located at 148 Strovolos Avenue, 2048 Strovolos, P.O.Box 28132, Nicosia, Cyprus.
How does Markets.com make money?
Markets.com earns revenue on its services by charging their traders a small spread for each trade that they make on the broker’s trading platform. Depending on the trader’s preference, there is a choice between fixed and floating spreads.
How to deposit in Markets.com account?
To deposit funds at Markets.com, traders can use their credit cards, eWallets such as Skrill and Neteller and Bank wire transfers. Additional deposit methods that are supported include BankLink (SwedBank), eKonto, Fast Bank Transfers (Envoy/WorldPay), Giropay, Ideal, Instant Bank, Mistercash, Multibanco, Przelewy24, and Sofort.
How to withdraw money from Markets.com?
Withdrawal at Markets.com is done through the same way as the initial method used for making a deposit. For example, if the initial method used for making a deposit is Skrill, then the withdrawal of funds will also be through Skrill.
How to open an account with Markets.com?
To open a trading account at Markets.com, simply fill out the registration form and submit to Markets.com. Take note that a free $25 no deposit offer is also available for traders to claim once they have registered with Markets.com (Terms & Conditions Apply).
Is Markets.com reliable?
Yes. Markets.com operates by strict regulatory standards that have been imposed by the regulatory authorities. In addition, the broker uses SSL technology to encrypt data that are transmitted between the client’s computer and Markets.com’s servers. In addition, the servers are all kept in highly secured data centers.
Does Markets.com use MetaTrader?
Yes. The MetaTrader 4 trading platform is also available at Markets.com.
What is Markets.com’s leverage?
The maximum available leverage at Markets.com is 1:300.
In terms of the services and range of trading assets, Markets.com ranks high on the list of online brokers that are providing above average trading services. By having in excess of 2000 trading assets, they ensure that every trader will be able to find something to trade. In addition, they also make it extremely affordable for beginner traders to start trading by giving out their free no deposit bonus and requiring traders to only deposit a low minimum deposit of $100. Beginner traders will certainly feel at ease when dealing with this award-winning broker.
|Regulated by||CySEC, FSB|
|Partnerships||Arsenal Football Club|
|Number Of Employees||200|
Trading Account Options
Markets.com Trading Features
|24 Hours Support||Yes|
|Support During Weekends||No|
Customer Support Languages
|Guaranteed Stop Loss||Yes|
|Guaranteed Limit Orders||Yes|
- 5.0SUPER dooper broker.Good BrokerGranville
- 4.0Good experienceNot a pro, but signed up and deposited some small money to deal on forex while the Brexit was happening. Overall positive experience.Olle
- 4.0Choices of Trading PlatformsYou can trade with the MT4 platform or their Markets WebTraderPeter
- 4.0Up To 25 Different Languages Supported
You don’t have to worry if English is not your mother tongue when you talk to the support staffsDavid A. Coffey
- 5.0Four Main Types Of Trading Platforms Available
You can chose from the popular MT4 platform or the web based Sirix trading platformAdonai Colón Hernádez