Interested in Markets.com Review?
It is a top broker with a Cyprus and English licenses, Sirix WebTrader, MetaTrader 4 and great educational offers. Continue reading Markets.com review to find out more about this broker.
Leverage: 1:200 Licences: CySEC, FCA
Min. Deposit: 100 USD Bonus: N/A
Spreads: from 0 pips US Clients: No
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Markets.com Review 2016 Update
Even though this broker has been around for quite some time, it is notably has gotten its reputation spoilt. The first, and the most impactful, thing about Markets.com in 2016 is the fact that it was fined for regulatory violations by CySEC. The size of settlement was quite an impressive one, 168,000 EUR. Would you trust a broker that was fined by its regulator for a misconduct? Nope, and you should not. You can read more about Markets.com being fined here.
Next to issues with the regulator, there are also quite some negative reviews about this broker all over the web. If we take a look at Forex Peace Army, this is what is seen:
As you can see, no positive stuff here. This is why we have adjusted this review and no longer recommend signing up with this broker. Also, stay cautious as there is a brand of a new company – Trade.com, but it is operated by the same people. Well, at least in our case there was the same person asking us to remove both trade.com and markets.com reviews.
It is advised to sign up with Plus500 instead of this broker.
Everything below is a dated information so we would not recommend to pay any attention to it.
Markets.com Forex Broker at a Glance
The first thing that is noticeable in this Markets.com review is the fact that it has a very nice website that is tastefully put together and gives the users enough information without being very crowded. Also another feature specific to it is the fact that it offers traders the choice between floating and fixed spreads. This lets traders come up with their own strategy, by choosing if they want to wait and trade in the hours that the market is very busy or not.
Markets.com Forex Trading Broker Accounts Overview
There are three types of accounts for traders to choose from: Mini account, Standard account and VIP account. For the Mini account, there is a welcome bonus of $250. An initial deposit of at least $100 is needed to open a mini account. For the Standard account, an initial deposit of at least $2500 is required. This account has a welcome bonus of $2000. In the case of the VIP account, traders are an initial deposit of $20,000 is required. This has a number of facilities such as free news update as well as free FX signals. The volume requirements are really steep, for $1 bonus is necessary to trade $10,000.
The fixed spreads start from 3 pips in the case of the major currencies. In order to see if they can get a better spread with a floating currency, this change is permitted. It is realized simply by setting the preferences in the Account Manager.
Even though the account offer from this broker is good, it is still considered as a scam. Do not sign up with markets.com!
Markets.com Reviews of Trading Platforms
The very powerful MetaTrader 4 is not absent; with all the known features that the traders have grown accustomed to, these include technical analysis and the use of advisors. Markets.com didn’t contend itself with just providing MetaTrader4, as it would have been a substandard choice in a competitive market.
Their ace in the sleeve comes in the form of Sirix WebTrader. This platform is not offered by many other traders and users should do well to take advantage of this fact when selecting a broker. The revolutionary new feature that it offers is the use of social trading directly in the platform. Another choice for users who want access to social trading is Market AutoTrader, a version of Mirror Trader developed by Tradency. Mobile functionality is also included, with a range of platforms developed for the iOS and Android devices.
Markets.com Extra Features
The learning center aimed at new traders is below average, with 11 video tutorials, articles about fundamental and technical analysis that don’t go into depth and webinars that are broadcast only once a week. You can start by getting choosing a better, like Plus500 that offers $30 to start off.
Markets.com Reviews of Customer Support
Support is offered 24/5 by e-mail, telephone and live chat. There are different lines for 35 countries. They also separate e-mail support into several different departments:
Customer Support, Finance, Customer Relations, General Inquires, Marketing, Trading Desk and Compliance Department.
Markets.com Forex Broker Deposit and Withdrawals
Deposits and withdrawals can be made with credit cards, Fast Wire Transfer, Web Money and Wire Transfer. Other payment services are available that are customized for different countries.
Markets.com Review Conclusion
Markets.com has brought just enough innovation to the table to make it a viable choice for a broker. It is unfortunate they don’t try to help new traders by having a better learning center, but hopefully that will change in the future. These new traders are somewhat helped by the existence of social trading that lets them copy the trades of other users. To experienced traders however, the fact that it has a wide range of platforms and great responsiveness makes it an ideal choice.
At this moment there are a lot of Markets.com scam alerts. We advise you to stay away from unreliable brokers and do not sign up with them!Open live Account with Plus500 instead