Markets.com is an electronic trading platform owned by Safecap Investments, which is a subsidiary of Playtech Limited – a gambling and casino company. It was established in 2010.
Pros
· Fast and simple account opening.
· Over 2200 instruments for trading.
· Easy to use and innovative web platform to make trading stress-free and swift.
· Regulated by the best financial bodies.
· Multilingual support team and amazing quality service.
· No withdrawal fees.
Cons
· Wide spreads often make the broker costly for new traders.
· Lack of transparency in spreads and fees.
· An inactivity fee of $10 per month after 3 months of inactivity. This is an incredibly short time compared to many other brokers.
· The parent company, Playtech, is recognized for gambling and casinos. This harms the ethical appearance of the broker.
Overall Ranking
Overall
Investment Opportunity
Commissions & Fees
Safety
Research
Smartphone Usage
Customer Service
Education
Platforms & Tools
Overall
Investment Opportunity
Commissions & Fees
Safety
Research
Smartphone Usage
Customer Service
Education
Platforms & Tools
Extended Review and Information
Markets.com is a globally recognized Forex and CFDs (contracts for difference, allow traders to invest in instruments without ownership.) provider with a market capitalization of over $1.3 Billion as of March 2019. It has over 2200 instruments for trading ranging from stocks, indices, Cryptocurrencies, and Forex. This is an amazing range of instruments that is rarely seen with other brokers.
Markets.com is a massive broker, and so is clearly one that you can trust. There are clear reasons why many traders, new and experienced, decide to trade here. Not only do all of these people choose to trade here due to the great service provided and amazing educational tools, but they can trade and learn in a safe space. Markets.com is one of the most regulated brokers in existence, and this reassures its clients that they can trade safely and smoothly.
Another benefit of using Markets.com is their regular research updates. They send over tonnes of information and analysis all for free, and this type of service is rarely provided at such a high quality for nothing. On top of this, the tools available to traders for charting are state-of-the-art. All types of traders can find the tools they need here.
One clear fault with Markets.com is that their fees appear higher than the average broker. In addition to this, the fees (both trading and non-trading), are not always clear and obvious.
How to Open your Account
Opening an account with Markets.com is easy and straight forward. There’s a quick video on the home page that acts as an easy guide. Once you’re ready to register, you’ll be requested to fill basic information such as your name, birth date, location address and phone number.
You will also be required to fill in your tax information and level of trading experience among other details. Every information should be honest as once it’s filled in the database, you can only change it by contacting the customer support.
Additionally, you’ll be requested to submit documents that support the information you’ve filled in. Passport, national ID or Driving License will work. And also a bank statement or utility bill that supports your proof of residence. You can upload the documents as a photograph, scan, or PDF. All this must be filled in before your account is opened. The whole registration process may take up to 48 hours. Accounts can be set up in any of the following currencies: USD, EUR, GBP, AUD, SEK, DKK, ZAR, NOK, PLN.
Traders can also adjust their accounts from light and dark themes by preferences. This is not very important just a cool feature.
It’s available in most countries across the world, excluding:
- Afghanistan
- Bosnia
- Belgium
- Australia
- Angola
- Samoa American
- China
- Canada
- Cambodia
- Brazil
- Herzegovina
- DPRK
- Cuba
- India
- Indonesia
- Hong Kong
- Guyana
- Guam
- Ethiopia
- Laos
- Japan
- Israel
- Iraq
- Iran
- New Zealand
- Myanmar
- Malaysia
- Macao
- Papua
- Panama
- Pakistan
- Mariana Islands
- Northern Serbia
- Russia
- Puerto Rico
- Philippines
- New Guinea
- Syria
- Sudan
- Sri Lanka
- South Korea
- Singapore
- Trinidad & Tobago
- Thailand
- Taiwan
- Arab Republic
- Vanuatu
- US Virgin Islands
- Turkey
- Tunisia
- Yemen
- Vietnam
Depositing Methods
The minimum required a deposit in all regions is $100. This is great for those who are new to trading or cannot afford to risk much capital. Clients who register with more than $2500 are reimbursed for the transaction fees incurred.
The payment method used to deposit is the same one to be used for withdrawals.
Those methods include:
· Paypal
· Neteller
· Skrill
· Wire transfer
· Debit/Credit cards
The payment method available may depend on the region you’re in to provide you with local options. It may take some time for funds to reflect on your account, depending on the method used.
Credit card deposits, for example, may take up to 24 hours. While online payments such as Skrill may take less than 1 hour.
Withdrawal Methods
The same methods used for deposits are used for withdrawals. Same to deposits, Markets.com doesn’t charge you for withdrawals.
Minimum withdrawal depends on the method used.
Skrill and Neteller require a minimum of $5 and may take less than a day. While wire transfer may require more than $100 and takes 2-5 business days.
Payment Method
Debit/Credit Card
Skrill/Neteller
Wire Transfer
Minimum
$10
$5
$100
Time
2-8 Business Days
Less Than 1 Day
2-5 Business Days
Trading Platforms
Markets.com is available on the web or mobile platforms. Traders who use web platforms enjoy features such as lower spreads and cutting edge technology.
With web trading, there’s no download required and it’s available in English, Arabic, and Spanish.
On mobile, the Markets.com app is designed with state of the art technology to allow traders to monitor and trade positions while on the go.
One disconcerting fact, though, is web traders enjoy tighter spreads compared to mobile traders.
Their spreads on EURUSD are 1.90 pips which may be considered low in variable markets. But considering Markets.com has fixed spreads, the spread may be considered high.
Considering EURUSD is the least expensive currency and has a 1.90 pip fixed spread, it’s fair to say that other pairs are even more expensive to trade.
Instruments Traded on Markets.com
This platform offers instruments from forex, CFDs and spread betting. Spread betting is only available in the United Kingdom, and is quite a rare opportunity.
There are over 50 currency pairs and 2000 CFD global instruments from stocks, commodities, indices and even Cryptos.
Some of the available cryptos include Bitcoin, Bitcoin Cash, Dash, Ethereum, Litecoin, and Ripple.
The Cryptocurrency spreads are quite higher than industry average though., considering Bitcoin alone is 140+ pips this may render trading Cryptocurrencies with this broker too difficult and unprofitable.
Traders can also participate in the trading of IPOs and ETFs.
Regulations and Jurisdictions
Markets.com is regulated by three-tier 1 bodies across the world and since Playtech is listed on LSE, it is considered a safe platform.
It’s regulated in Cyprus by the CySec which monitors all European accounts besides the UK. Africa, Markets.com is regulated by Financial Sector Conduct Authority (FSCA) in South Africa. It’s also regulated by the Australian ASIC which is also responsible for managing their global presence. And finally, Markets.com is regulated by the FCA body which manages the UK clients only.
Conclusion
Markets.com is a reputable broker that has gained global recognition. The customer support is flawed considering there’s no phone number available to contact them. And also, the hidden fees where they don’t out-rightly explain how they charge commissions and overnight fees is another flaw.
On the other hand, they have zero deposit/withdrawal fees. And while their spreads are slightly high, they have more than 90 indicators for technical analysis. Which is higher than the industry average. The trading tools, education and research given is an amazing service. We rate Markets.com highly for this, as despite the negative view given by being a subsidiary of a gambling company, they provide a great opportunity for so many to trade safely.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.3% of retail investor accounts lose money when trading with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. This does not constitute as investment advice or personal recommendations as your specific financial circumstances have not been considered. No warranty is given in regards to the accuracy and completeness of information. Past performance is not an indicator of future results.