Markets.com Review

Markets.com Products

Markets.com offers a huge selection of trading instruments through CFD’s. These include Shares, Forex, Cryptocurrencies, Indices, ETF’s and Commodities. All major FX pairs are available for trading from Sunday through Friday spanning the varying market sessions, Asian, US and Europe. Commodities, Shares and major world indices are available from Monday to Friday during daily trading hours.

If you are at crossroads on whether to buy cryptocurrencies or not, then this broker can help you out. They make the process affordable and less strenuous in that you don’t need to buy the cryptos themselves. You just trade on them through a derivative contract rather than owning the actual underlying asset.

Markets.com’s leverage for cryptocurrencies starts at 1:5 meaning you need very little money to start trading. Normally, their standard leverage for most instruments is 1:50 and can be stretched to 1:300 or more depending on your trading experience. At the moment, only a handful of crypto coins are supported by this broker. Check them below.

• Bitcoin
• Dash
• Ethereum
• Ripple
• Litecoin
• Bitcoin cash

So far, the pairing available is between the cryptocurrencies and fiat money.

Markets.com Trading Conditions

Markets.com doesn’t charge any commissions or fees on all trades. The brokerage makes money off the spreads which are very competitive and vary from one trading platform to another. As for non-trading fees, Markets.com charges a financing fee which is paid as an overnight rollover fee for holding onto CFDs trading positions. This is the only non-trading fee as Markets.com does not charge fees for account inactivity or withdrawals. Trading conditions are quite favorable for traders as the fees are minimal and based primarily on spreads. See the table below for an example of spreads on various currency pairs.

Normally, their standard leverage for most instruments is 1:50 and can be stretched to 1:300 or more depending on your trading experience.

Markets.com Account Types

Markets.com offers three main account types to accommodate a variety of traders and their needs. The accounts offered do not differ greatly and require a minimum $100 initial deposit (except for the demo account). The maximum leverage available for all accounts is 1:300 for forex trading, and all accounts come complete with daily market analysis news and tools, 24 hr customer service, access to webinars, and support from sophisticated account managers.

 See the different account types overviewed below:

• Real account-this is an actual trading account where the standard one demands a minimum deposit of $100.
• Demo account-a dummy account is available for those who wish to test how everything looks on markets.com before depositing real money on the platform.
• Muslim account-this one aims at catering to the Muslims as it follows the Islamic Sharia rule of interest-free trading.

Markets.com Platform and Tools

Markets.com is not limited in the number of accounts, platforms or tradable instruments. They have everything for both newbies and established traders. The first and most sought-after trading platform found on this exchange is the MetaTrader 4(MT4). This platform comes with complex and useful tools meant to help you trade efficiently. You can close or open positions easily from the charts while on MT4 as well. The MT4 trading platform is the most popular trading platform in the industry and provides all the sophisticated tools and features a trader needs to successfully conduct market and technical analysis, execute trades in a timely manner, and manage your account and orders.

Markets.com also features their very own proprietary trading platform known as the Sirix Web Trader platform for those who love to trade based on what others are trading. This social trading tool lets you view what others are doing and perhaps replicate that on your side too. For those who want to keep abreast with the changes, Market Web Trader (MWT) is a better option to choose while on Markets.com. MWT is a premium platform with features like up-to-date news ticker and trading cubes. Both of these proprietary trading platforms are web based and can be used on multiple devices.

Is Markets.com Mobile Friendly?

Like all CFD brokers worth their salt, Markets.com has enabled on the go trading through mobile phones. Markets.com supports trading for both Android and IOS operating systems, through downloadable apps on Apples App Store and the Google Play Store. The mobile trading platforms are fully optimized for trading on a mobile device and manage to keep all the same features that are utilized on the desktop versions of the platform.

Markets.com Offers and Promotions

Markets.com does not offer their clients any significant bonuses or promotions for using their platform, neither do they have a loyalty program in place. However, the platform empowers its customers to get aboard quickly via hassle-free online self-activation. There are also one-time bonuses to make clients happy. One such bonus is the welcome token (25 Euros) given to those who deposit the required amount. As well, first time traders can test out Markets.com through their free demo account with $10,000 worth of virtual money.

Markets.com Deposit and withdrawals

Markets.com is very flexible when it comes to account deposits and withdrawals. The predominant payment methods supported include credit and debit cards (VISA, MasterCard, & Diner’s Club, Skrill and Neteller. This firm charges zero fees for both deposits and withdrawals. In case charges are incurred, reimbursement will be issued to those whose deposits exceeded $2,500.

If you find the payment methods above to be costly or inconvenient, try eKonto, Giropay, Sofort, BankLink (Swedbank), WorldPay, Instant Bank, Ideal, Multibanco, and Mistercash. All of them are supported by this exchange.

Markets.com demands that users withdraw their money through the same medium they used for deposits. Also, users must adhere to the minimum withdrawal set for each payment method as shown below:

• Wire transfer: minimum 100 EUR, USD, GBP (20 euros for those within EU)
• Credit/debit card: minimum is 10 EUR, USD, GBP
• Neteller/Skrill: minimum is 5 EUR, USD, GBP

Once you request a withdrawal and it gets approved, you should have money in your account within three days.

Markets.com Customer Support

This broker offers its services in 15 more languages so as to cater to non-English speakers. The main languages are Arabic, French, German, Dutch Italian, Norwegian, Spanish, Russian, and Swedish. The customer care agents are available on a 24/5 basis.

Markets.com’s customer desk can be contacted by email, phone, and live chat. There are several emails each designated for a particular department. Their response time for phone is faster than email and live chat. The latter is accessible through both the platforms and website. In addition to these traditional methods of customer support, traders can also find support in the support centre page on their website. Here, traders can find an extensive FAQ section with answers to a wide variety of questions. The page is well laid out making it very easy to find information on various topics. As well, there is a search bar that can be used to quickly find the material you’re looking for.

All the above services are available to every account holder regardless of account status or type. However, on an extremely busy day, expect their efforts to slacken due to too many customer tickets. In general, Markets.com has one of the most helpful and knowledgeable customer support.

Markets.com Research and Education

This exchange has an education section whose purpose is to train both new and skilled traders alike. You don’t need to pay anything or have a special account to access this area. The materials are segmented into two groups; webinars and economic events. These sections consist of several videos that will get you well-acquainted with the trading world.

The education section doesn’t really touch on issues happening on the site. For this reason, it may not be helpful to newbies who needs hands-on ideas on how to begin trading various CFDs. However, the support centre has in depth material to help beginners with common questions they might have.

Markets.com Security and Fairness

Markets.com is extremely secure from hacks, DDOS, and any other criminal underground threats thanks to their modern-day security protocols. They implement firewalls and SSL technology to ensure all sensitive information is transmitted and stored securely. The platform has “a clean bill of health,” so to speak. Also, customer funds are kept in a different, well-secured account, and should anything happen, the exchange’s client protection scheme will get the affected individuals reimbursed. As well, the brokerage is regulated CySEC which ensures they comply with best practices and can be trusted with their security and fairness.

Noteworthy points

Markets.com doesn’t accept customers from USA, Japan, Canada, Belgium and Australia. This reputable platform comes with zero fee VPS services, Signals and other useful freebies. You can find them on Facebook (over 65 million followers) Twitter, YouTube and other common social sites. Markets.com has been in business since 2006 and has developed an excellent reputation and client base. This helps to provide very high liquidity and competitive fees through tight spreads. As well, Markets.com has won numerous awards for their competence, trading platforms, and customer service over the years.

This trading platform has no known sponsorships or marketing strategies. Perhaps these are a few things they need to work on.

Conclusion

With barely a decade of operation, Markets.com has managed to provide stellar services to its customer base. The exchange already has several awards under its belt. There are several accounts, trading platforms, and tradable instruments to choose from. To add to that, their customer support is responsive and faster in executing orders than that of many exchanges. As well, the brokerage offers competitive spreads and leverage for both beginner and experienced traders.

This award-winning platform has very few cons it needs to work on, but in general, it's far preferable than many top-of-the-line options scattered out there.