is a medium size Forex Broker based in Cyprus
and it is operated by Safecap Investments Limited (“Safecap”), a regulated investment services firm authorized by the Cyprus Securities and Exchange Commission (CySec
). It is also a subsidiary of Playtech, a FTSE 250
company traded on the London Stock Exchange
. The company has over 100 subsidiaries
around the world including the Middle East, and it operates in 25 languages
They offer a wide range of financial instruments including Forex, CFDs, commodities and they are constantly adding to the list. Currently they offer trading services in over 300 financial instrument. Their website is simple, informative and straight to the point.
Their stated aim is to provide their client with unmatched training, service, and customer support.
Compliance to Different Authorities
Speed and Ease of Procedures
Technology and Facilities
Client Support and Offers
One of the good brokers in the FX Market. They need to target new traders and present more attractive products.
How does it help me learn?
There are several ways in which Markets.com
offer education to the novice and experienced traders. The education package start with a study which is, although available to guest visitors for free, it is very basic. The other parts of their education center is offered to clients who open a demo or a live account. Their education package will extend to include the following tools:
- Demo Accounts and Account Managers
– Markets.com offers demo accounts to its clients, then immediately allocate an account manager to help the client through the entire process. Some traders report that the service extends to direct recommendations of demo trades which is definitely placing this feature on the top of its educational package.
- Webinars and Seminars
– Markets.com offer a wide range of webinars and seminars aimed at the new and more experienced traders. Markets.com also have signed up some of the world’s best traders to present them. The webinars are well presented and considered an interesting insight into the world of Forex.
- eBook and Forex Articles
– As with many Forex brokers, markets.com offer a wide range of articles and a beginners’ Forex eBook to help new traders get a grip around the whole Forex trading experience. The articles are written simply but they aren’t comprehensive in their coverage to the Forex market. As you gain experience you’ll feel that you need a little more depth and detail.
- Daily Briefings -
Keeping traders updated to fundamental news and economic releases. They provide a summary of what influenced the market during the day.
- Trading Signals and Autochartist – Trading signal are available to live account holders whereas the Autochartist is available only to VIP account holders. It is a powerful tool that analyses millions of pieces of information and produces trading recommendations based on the chart’s price action.
How is the client support service in general?
The best feature of Markets.com‘s client support is the one to one support. This can be gained 24 hours a day by phone, email or live chat to an account manager who can be chosen from twenty five different language speakers. Based on thorough investigation, the service is timely, helpful and staff are very professional.
What does the industry say?
The company has won several awards, many from insignificant organizations but has received the Customer Service Award in both the London Investor Show and Global Banking and Finance Review.
Reports however indicates a level of hesitancy from Markets.com to work with traders who’s been successful with them in the past . Issues were reported as soon as the number of successful trades increased. However, problems never exceeded taking time to process withdrawal requests and stressing the clients to trade more or start over if they booked profits.
How safe is my money?
Markets.com and their subsidiaries are registered and approved by regulators in many countries but closer inspection reveals that the structure of the organization is strong. Markets.com is regulated by CySEC in Cyprus, and therefore, they are allowed to offer their services in the EU. They are operated by Safecap Investments Ltd, a Financial Services Company which is also regulated by the CySEC, and by the Financial Services Board (FSB) in South Africa as an Authorized Financial Service Provider.
What platforms does Markets.com offer?
Markets.com have a limited number of trading platforms, Markets web and mobile trader, the Sirix platform and MetaTrader4. The Web trader offer advanced tools and features, intuitive controls, and round the clock access to the global markets whereas the Sirix platform promises more tools, indicators and the opportunity to view and copy other traders’ actions.
What about its trading conditions?
Leverage quoted on Forex by Markets.com is 1:200. While other brokers vary the margin requirement depending on the size of the trade and the type of account, however, Markets.com seem to apply one set of trading conditions on all their account, a margin requirement of 0.5% of the contract size, the margin call at 100% and the stop out level at 20% of the contract size.
Expert Advisor is compatible with Markets.com‘s MT4. Slippage and re-quotes weren’t frequent during the review, although statements on their terms and conditions mean the you cannot preclude this happening. Markets.com clearly states that they don’t guarantee the cut lose and take profit points when there’s a gap in the price.
How much will it cost me?
Markets.com doesn’t charge commissions or fees on Forex trading, simply making their money from the spreads on trades. Clients can choose between fixed and variable spreads. Fixed spreads are relatively high on the major pairs, typically between 3 and 4 pips, and on average of 2.2 to 4 for the variable spreads.
Deposits can be made by a variety of means including credit cards, e-wallets and bank transfers, and are usually credited to the account on the same business day. Withdrawals can be made using the same deposit method and generally take 1-2 business days to process.
Any special deals?
Markets.com doesn’t present many promotion and offers. At the moment a new client will receive a free $25 bonus when he signs up for a live account and verify his phone number. The offer’s terms and conditions are reasonable and clear.
The bottom line
On first look, Markets.com seem to have the right balance of show and substance; they don’t offer lots in the way of costs or promotions, seeming to indicate that they have a good financial status and that they’re not desperate for business. It offers a good range of products and facilities, a clear and informative website, and a good level of support to their clients.
Do you like this broker?
If you like this broker and want to open a live account, send us a request by filling the form below and we will reimburse you the full rebate generated from your trading.