Sheer Markets Review 2022

Sheer Markets Video Review

Investor Protection & Regulations

“Sheer Markets (Cyprus) Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), offering negative balance protection and segregation of client funds from company funds.”

Sheer Markets (Cyprus) Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), as shown on the regulator’s register below:

The broker provides further security of client funds by following the below regulatory requirements:

• Holding Funds in a segregated account from company funds.
• Negative balance protection policy.

Tradable Products

“Sheer Markets offers clients the ability to trade on over 1,400 + financial CFD instruments covering Forex, Shares, Indices, Commodities, Non-Deliverable Forwards, and Cryptocurrencies.”

Sheer Markets offers clients the ability to trade on over 1,400 + financial CFD instruments covering Forex, Shares, Indices, Commodities, Non-Deliverable Forwards (NDF), and Cryptocurrencies. Below is a list of just some of the available markets for trading:

* Details regarding the available assets are taken from the Sheer Markets website and are correct at the time of this review. You can find a more detailed list here.

Trading costs such as spreads and overnight funding (swap) rates vary depending on the account type opened and instrument being traded and are covered further down this review.

Account Opening

“Sheer Markets offers four main account types – Sheet Classic, Sheer Classic Plus, Sheer Prime and Sheer Prime Plus as well as Demo and Islamic (swap-free) accounts.”

Sheer Markets offers four main account types – Sheet Classic, Sheer Classic Plus, Sheer Prime and Sheer Prime Plus as well as Demo and Islamic (swap-free) accounts. The main features of each account are summarised in the below table:

Users can open a new account in just a few steps. After clicking the ‘Open a Live Account’ button on the broker’s homepage, users will be guided through the following steps:

1. Sign Up: Name, email, country of residence, phone number, date of birth, trading platform, currency and password.
2. Regulatory Assessment: Questions relating to education level, trading experience, trading knowledge and risk profile.
3. KYC/AML Assessment: Name, address, date of birth and country of residence, financial details and employment status.
4. Document Verification: Proof of identity (passport or driving licence) and proof of residence (utility bill or bank statement – not more than 6 months old).

The client portal is shown below:

The broker does not offer Contracts for Difference to residents of certain jurisdictions including the USA, Canada and Iran.

Deposit & Withdrawals Options

“Sheer Markets offers fee-free deposits and withdrawals via debit/credit cards, bank wire, Neteller and Skrill.”

Sheer Markets offers fee-free deposits and withdrawals via debit/credit cards, bank wire, Neteller and Skrill. The below tables show the currencies accepted, fees and processing times:

Clients can deposit and withdraw funds through the client portal.

Web & Desktop Trading Platforms

“Sheer Markets offers users the ability to trade on the globally renowned MetaTrader 4 and MetaTrader 5 trading platform for Web and Windows.”

Sheer Markets offers users the ability to trade on the globally renowned MetaTrader 4 and MetaTrader 5 trading platform for Windows. The platform features are highlighted below:

Sheer Markets Webtrader

• Trade multiple asset classes.
• Interactive charts.
• Great range of technical tools and indicators.
• No download needed.

Sheer Markets MetaTrader 4

• Fully customisable.
• Multiple analytical instruments.
• Advanced charting.
• Over 30 built-in indicators.

Sheer Markets MetaTrader 5

• 9 time-frames.
• 80+ technical indicators.
• Expert Advisors.
• Downloadable on MAC systems.

A screenshot of the Sheer Markets MetaTrader 5 desktop platform is shown below and is covered in more detail in the video review:

Mobile Trading Platforms

“Sheer Markets offers users the ability to access mobile trading on the go from the MetaTrader 4 and MetaTrader 5 mobile trading apps for Android and iOS systems.”

Sheer Markets offers users the ability to access mobile trading on the go from the MetaTrader 4 and MetaTrader 5 mobile trading apps for Android and iOS systems. Both app download links can be found in the Google PlayStore or Apple AppStore.

The MetaTrader 5 mobile trading app provides a range of different features including:

• Trade and manage your account on the go.
• Multiple order types available.
• Real-time quote streaming.
• Simple to use interface.

The MetaTrader 5 mobile trading app is covered in more detail in the video review.

Trading Features

“Sheer Markets does not offer any additional trading features other than what is already available through the MetaTrader trading platforms and the MetaTrader Market place.”

Sheer Markets does not offer any additional trading features other than what is already available through the MetaTrader trading platforms.

However, users can take advantage of the MetaTrader marketplace to download thousands of additional technical indicators, automated trading strategies and copy trading services.

Commissions & Spreads

“Trading costs vary between account type and the market traded. Classic accounts offer commission-free trading whereas Prime accounts are commission-based. Share trading is commission-based across all account types.”

Trading costs vary between account type and the market traded. Classic accounts offer commission-free trading with slightly larger spreads whereas Prime accounts are commission-based with raw spreads. Share trading is commission-based across all account types.

The table below shows the average spreads of each account type:

The table below shows the commissions of each account type:

For Non-Islamic accounts, overnight funding or ‘swap’ fees are charged on positions that remain open overnight (22:00) GMT. If positions are being held over the weekend a three-day ‘swap’ charge will be charged on Wednesdays.

The broker also charges an inactivity fee of 10 EUR per month if there is no trading activity for at least six months.

Bonus & Promotions

“In accordance with regulatory restrictions, Sheer Markets (Cyprus) Limited does not offer any bonuses or promotions.”

Customer Support

“Sheer Markets offers multilingual 24/5 customer support via email, phone and contact form. There is also a comprehensive FAQ section on the broker’s website.”

Sheer Markets offers multilingual (English, French, Italian, Spanish, Bulgarian, Russian, Greek, Hindu, Urdu) 24/5 customer support via email, phone and contact form. There is also a comprehensive FAQ section covering the company, trading, trading platform, deposits and withdrawals, and charges.

After phoning the customer support line we were connected with an agent who did help us with our query.

Contact Information:

• Address: 12 Archiepiskopou Makarou III, Kristelina Tower, Office 301, Mesa Geitonia 4000, Limassol, Cyprus.
• Email: support@sheermarkets.com
• Phone: +357 25 25 40 43
• Social Media:
  • Facebook
  • Twitter
  • LinkedIn

Research

“Sheer Markets offers little market research but does include an Economic Calendar. However, clients with a Sheet Classic Plus or Sheer Prime Plus can benefit from Market Analysis and Commentary.”

Sheer Markets offers little market research which includes an Economic Calendar. However, clients with a Sheet Classic Plus or Sheer Prime Plus can benefit from Market Analysis and Commentary.

Trader Education

“Sheer Markets only offers a small glossary of key trading terms.”

Sheer Markets only offers a small glossary of key trading terms that covers important trading and financial market terminology.

Trading Experience

“Sheer Markets provides clients access to over 1,400+ financial CFD instruments across Forex, Shares, Indices, Commodities, Non-Deliverable Forwards, and Cryptocurrencies, all through the globally renowned MetaTrader4 and MetaTrader 5 trading platforms for Web and Windows.

From our observations, Sheer Markets provides clients with a good all-around service offering across Forex, Shares, Indices, Commodities, Non-Deliverable Forwards, and Cryptocurrencies. The broker is also one of the few to offer Non-Deliverable Forwards CFDs to retail traders, giving them access to new exotic markets.

Users can access these markets through the globally renowned MetaTrader 4 and MetaTrader 5 trading platforms for Web and Windows. There are also four account types available – Sheet Classic, Sheer Classic Plus, Sheer Prime. Both Classic accounts offer commission-free trading with slightly larger spreads whereas Prime accounts are commission-based but with raw spreads.

Although the broker does provide an Economic Calendar, the overall market research is limited and market commentary and analysis is only available to clients who make the higher deposit for the Sheer Classic Plus and Sheer Prime Plus accounts. Similarly, the education material is limited to only key trading terms.

FAQ

Is Sheer Markets regulated?

Sheer Markets (Cyprus) Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).

Where is Sheer Markets based?

12 Archiepiskopou Makarou III, Kristelina Tower, Office 301, Mesa Geitonia 4000, Limassol, Cyprus.

How does Sheer Markets make money?

Sheer Markets makes money mainly through spreads, commissions and swaps on certain asset classes.

How do I deposit in a Sheer Markets account?

Funds can be deposited via debit/credit cards, bank wire, Neteller and Skrill.

What is the min. deposit for Sheer Markets?

The minimum deposit is $200.

How do I withdraw money from Sheer Markets?

Withdrawals can be made from the client portal via debit/credit cards, bank wire, Neteller and Skrill.

What is the max leverage in Sheer Markets?

The max leverage available is 1:30 for retail clients.

How do I open an account with Sheer Markets?

An account can be opened at the click of a button on the Sheer Markets website and can be done in just a few steps.

Does Sheer Markets use MetaTrader?

Yes, MetaTrader4 and MetaTrader 5.

Conclusion

“Sheer Markets (Cyprus) Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker offers clients the ability to trade on 1,400+ financial CFD instruments covering Forex, Shares, Indices, Commodities, Non-Deliverable Forwards and Cryptocurrencies, from the globally renowned MetaTrader 4 and MetaTrader 5 platforms.”

Sheer Markets (Cyprus) Limited was founded in 2019 and is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker offers clients the ability to trade on 1,400+ financial CFD instruments covering Forex, Shares, Indices, Commodities, Non-Deliverable Forwards, and Cryptocurrencies, from the globally renowned MetaTrader 4 and MetaTrader 5 platforms for Web and Windows.

Users have access to four main account types – Sheet Classic, Sheer Classic Plus, Sheer Prime and Sheer Prime Plus. Both Classic accounts offer commission-free trading with slightly larger spreads whereas Prime accounts are commission-based but with raw spreads. Demo and Islamic (swap-free accounts) are also available.

Sheer Markets offers fee-free deposits and withdrawals via debit/credit cards, bank wire, Neteller and Skrill.

The research material is limited to only an Economic Calendar, however, users with a Sheer Classic Plus or Sheer Prime Plus account can benefit from additional market commentary and analysis. Similarly, the education material is limited to only key trading terms. The broker offers multilingual customer support 24/5 via email, phone and contact form.

• 1,400+ financial CFD instruments
• CySEC regulated.
• No fees on deposits and withdrawals.
• MetaTrader 4 available.