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Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Sheer Markets does not offer Contracts for Difference to residents of certain jurisdictions including the USA, Canada and Iran.

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Sheer Markets Review 2021

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Sheer Markets Main Features
☑️
Regulations
CySEC (Cyprus)
️🗺
Supported Languages
English, Spanish, French, Russian, Hindi, Bulgarian, Italian, Urdu, Greek
💰
Products
Crypto, Currencies, Commodities, CFDs, Indices, Stocks
️💵
Min Deposit
$200
💹
Max Leverage
1:30 (CySEC)
🖥
Trading Desk Type
Dealing Desk, ECN, Market Maker
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Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Sheer Markets does not offer Contracts for Difference to residents of certain jurisdictions including the USA, Canada and Iran.

Sheer Markets Full Review

“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 – Sheer 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, as well as multilingual customer support 24/5 via email, phone and contact form.

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.

Pros: Cons:
  • 1,400+ financial CFD instruments
  • CySEC regulated.
  • Zero fees on deposits and withdrawals.
  • MT4/MT5 available.
  • Limited research and education material.

About the Author

Jitan Solanki
Author
Jitan is a currency trader and an accredited Market Technician with more than 15 years of experience working with fund managers and on several proprietary trading floors. He is regularly quoted in the financial media for his currency market insights and forecasts and is based in London.
Read More

Review sections


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:

Forex Indices NDF
EURUSD US30 USDBRL
AUDUSD US500 USDCNY
USDCAD Euro 50 USDINR
GBPJPY UK 100 USDKRW
Shares Commodities Cryptocurrencies
Adobe Silver Bitcoin
Facebook Gold Bitcoin
Apple Brent Crude Ethereum
Visa WTI Ripple

* 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:

Sheet Classic Sheer Classic Plus Sheer Prime Sheer Prime Plus
Trading Platform MT4/MT5 MT5 MT5 MT5
Max Leverage Retail FX 1:30 1:30 1:30 1:30
Minimum Deposit

200

(EUR, USD)

10,000 (EUR,USD)

200

(EUR,USD)

10,000

(EUR,USD)

Commission No (Excluding Equities) No (Excluding Equities) Yes (Excluding Commodities & Indices) Yes (Excluding Commodities & Indices)
Spreads from 1.2 pips 1 pip 0 pips 0 pips
Additional Features Free Deposits and Withdrawals Free Deposits and Withdrawals, Free VPS Hosting, Account Manager, Market Analysis and Commentary, Phone Dealing Available Free Deposits and Withdrawals Free Deposits and Withdrawals, Free VPS Hosting, Account Manager, Market Analysis and Commentary, Phone Dealing Available

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:

Deposits Currency Fees Processing Time
Bank Wire Transfer EUR, USD Zero fees 2-5 Working Days
Debit/Credit Card EUR, USD Zero fees Up to 2 Hours
Neteller EUR, USD Zero fees Instant
Skrill EUR, USD Zero fees Instant
Deposits Currency Fees Processing Time
Bank Wire Transfer EUR, USD If applicable 2-5 Working Days
Debit/Credit Card EUR, USD Zero fees 2-5 Working Days
Neteller EUR, USD Zero fees Instant
Skrill EUR, USD Zero fees Instant

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:

Sheet Classic Sheer Classic Plus Sheer Prime Sheer Prime Plus
Spreads from 1.2 pips 1 pip 0 pips 0 pips

The table below shows the commissions of each account type:

Commissions Sheet Classic Sheer Classic Plus Sheer Prime Sheer Prime Plus
FX Zero commission Zero commission From $4 per lot per side From $4 per lot per side
NDF Zero commission Zero commission From $5 per lot per side From $4.5 per lot per side
Shares Min $10 for US Stocks and 15 BPS for Europe and UK Stocks Min $10 for US Stocks and 15 BPS for Europe and UK Stocks Min $10 for US Stocks and 15 BPS for Europe and UK Stocks Min $10 for US Stocks and 15 BPS for Europe and UK Stocks
Indices and Commodities Zero commission Zero commission Zero commission Zero commission

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:

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.
broker

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Sheer Markets does not offer Contracts for Difference to residents of certain jurisdictions including the USA, Canada and Iran.

See Sheer Markets Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
Cyprus
Foundation Year
2019
Regulations
CySEC (Cyprus)
Publicly Traded
No
Number Of Employees
50-100
Trading Desk Type
Dealing Desk, ECN, Market Maker
Trading platforms
MT5
Restricted Countries
United States, Canada, Iran
Supported Languages
English, Spanish, French, Russian, Hindi, Bulgarian, Italian, Urdu, Greek
Min Deposit
$200
Max Leverage
1:30 (CySEC)
Deposit Options
Wire Transfer, Credit Card, Skrill, Neteller
Withdrawal Options
Wire Transfer, Credit Card, Skrill, Neteller
Cryptocurrencies
Bitcoin Cash, Bitcoin, Litecoin, Ethereum
Fixed Spreads
No
Commission On Trades
No
Products
Crypto, Currencies, Commodities, CFDs, Indices, Stocks
Mini Account
No
Premium Account
Yes
Demo Account
Yes
Islamic Account
No
Segregated Account
Yes
Managed Account
Yes
Institutional Account
Yes
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