A Brief Overview of Markets.com Review
Markets.com is a relatively new forex broker that has quickly managed to capture a major chunk of the market share by enticing traders with great features, pricing, and varied trading platforms. Since its inception in 2006, Markets.com has received numerous awards for being one the leading brokers for a wide variety of financial instruments.
Markets.com is situated in Cyprus and is operated by Safecap Investments Ltc, which is in turn owned by Playtech PLC. Interestingly, Playtech PLC is a gaming software company that deals exclusively in gambling and online casinos and is listed in the FTSE 250, the UK stock exchange. We will take a close look at the company through this detailed Markets.com review to see if this broker has what it takes to become the leading broker in this industry.
Where is Markets.com Regulated?
Owing to its presence in the Cyprus, Markets.com is licensed and regulated by the CySEC. Markets.com is also regulated by the FSB in South Africa and has a wide presence in most of the countries in the European continent and South America. Interestingly, Markets.com is not regulated by the CFTC, therefore, US clients are no longer accepted by the broker. Although the company states that it is owned by a company listed in the UK stock market, the broker doesn’t seem to be regulated by either the MiFID or the FCA.
Trading Instruments Available at Markets.com
Markets.com has a wide range of trading instruments on offer, and traders can split their investments between stocks, indices, currencies, commodities, and CFDs. Markets.com offers the option of trading all instruments within their trading platforms and offers exceptional trading functionalities according to the traders’ requirements. Markets.com is one of the few forex brokers that offer an exhaustive range of trading instruments to help traders enjoy the complete range of financial instruments available in the global markets.
Accounts, Spreads, & Leverage at Markets.com
Markets.com has different account types that are oriented for different types of traders. Apart from the standard demo account, Markets.com offers three different types of accounts that are dependent on the initial deposit amount. The first account type is the CLASSIC account that allows a trader to start trading for a small initial deposit of $100. This account is pretty basic in nature, but they do offer a lot of advantages and features when compared to similar account types from competing brokers.
The second account type is known as the STANDARD account, where traders can begin trading with an initial deposit of $2,500. This account comes with all the features of the CLASSIC account along with a dedicated account manager, forex signals, and daily analysis. The top of the line PREMIUM account can be opened with a minimum of $20,000 initial deposit, for which, you get all the features of the STANDARD account along with a premium customer support experience.
The spreads are a bit on the higher side, as Markets.com has an average of 3 pips spread on the major currency pairs. The floating spreads are known to increase during high volatile events, but overall, Markets.com may be considered as one of the cheapest brokers out there. The maximum leverage on offer is also capped at 1:200, which might be good for safeguarding a trader’s capital, but traders might feel limited by the lack of additional leverage. As far as payment options are concerned, clients can deposit/withdraw funds using credit cards, bank transfer, or through online processors such as skrill.
What Are The Available Trading Platforms?
Markets.com has invested heavily into ensuring that their clients are offered the most powerful trading platforms according to their needs. Apart from the traditional Meta Trader platform, they also offer a MultiTerminal Meta Trader platform for traders who trade using multiple accounts. For those who do not wish to install a terminal on their computer, or for those who wish to trade on the move, Markets.com offers a web trader as well dedicated apps for iOS and Android devices.
Is Their Customer Service Department Effective?
Markets.com is very particular about a good customer service experience, which is why they have set up 30 different help lines situated in several parts of the world. Markets.com also has representative offices in these countries to ensure that they are easily accessible by their clients. They also have a separate complaints department that takes care of all client complaints and issues without having to go through multiple support channels and disintegrating the matter further.
Bonuses Currently Available at Markets.com
Markets.com is currently offering a free $25 no deposit bonus that allows traders to experience a real trading account at Markets.com, risk-free. Markets.com also offers specific deposit related bonuses; however, traders will have to get in touch with the sales department to get the exact information on the bonuses available for an exact deposit amount.
A Brief Conclusion of our Markets.com Review
Markets.com is indeed a great broker that offers a wide range of financial instruments, multiple platforms, low investment options, and an excellent customer service. At times, Markets.com has been in the news for all the wrong reasons, but it seems that the broker learns from its mistakes and rebounds with full vigour to offer an array of new services for traders. Markets.com is one of the few brokers that understands the exact needs of a trader and offers their services according to the market sentiment.
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