Markets.com Review

Good

Award winning forex and CFD broker. Live chat in 15 different languages. 50+ currency pairs and clear spreads. MetaTrader 4 and apps.

Bad

High pips for unusual currency pairs (but low pips for common ones).

Overall

An attractive Cyprus-based broker for forex and CFD trades. Low initial opening balance needed. A strong contender to be sure.

Editor's Ratings

Open Account

Markets.com has a tag-line that states that they are "one of the world's fastest growing Forex & CFD brokers." They are in fact an award winning forex and CFD broker that has recently won several accolades including the London Investor Show Forex "Best Customer Service 2012" award. The competition for such awards is extremely stiff with many entrants up for consideration, so this is a very good sign for potential customers to take note of.

Investment accounts can be opened with as little as $100, but to make meaningful trades and to spread your bets wider, it is better to open an account with a bit more, if possible.

Deposits and Withdrawals

Account deposits can be made using a debit or credit card, fast wire transfer, Webmoney or local payment methods in Cyprus.

Withdrawals are processed through the same method used to make the original deposit. Margin accounts must be sufficiently covered before withdrawals are made and ID confirmation must have been completed prior to a withdrawal too.

Regulation

Markets.com is operated by Safecap Investments Limited, which is a Cyprus Investment Firm, fully licensed and regulated by the Cyprus Securities and Exchange Commission. The business is also licensed and regulated under the investment-related MiFID, as well as with 12 regulatory authorities including the UK, South Africa, Spain, Germany and across Eastern Europe.

Currency Pairs and Commissions

The business makes money through the spread and so doesn't charge a commission. The spread is the difference between the buy / ask prices. The lowest spread is usually 3 pips and the highest is 250 pips. There are currently over 50 currencies pairs that can be traded and the web site helpfully maintains a current list of the available currency pairs to be traded, their pips, trading times, etc.

Trading Platforms

Markets.com has several trading platforms, both desktop and mobile. On the desktop side of the equation they offer the Sirix WebTrader which lets you trade cubes (a pre-configured group of instruments to be traded in set lot sizes) and other transactions from a web-based interface. They also have the popular MetaTrader 4, a Windows-based app available for customers to use.

Mobile Access

MetaTrader 4 also has mobile app versions that hook into the data from the desktop version. There are iPhone / iPad, Android and Windows Phone versions to choose from.

Markets.com also offer their Market Mobile Tracker which is an interactive HTML 5 based app that is accessible online via iPhone, Android and Blackberry mobile devices. All web browsers that support the majority of HTML 5 base code will be able to view this app; on several mobile devices, the most HTML 5 standards-compliant web browser is currently the Opera browser.

Educational Services

The company offers online workshops and seminars to help train each new customer how to use the service and trade forex successfully. Beginners can access their “Forex for Beginners” free e-book to get started. There are video tutorials, a free demo account to play around with the platform without putting any money at risk, and 1 on 1 training should that be needed too. Live chat is also offered in 15 different languages, which is a helpful extra to resolve any issues with getting started or in early trades.

Forex Trading Features

  • Social Trading  : Yes
  • Leverage  : 1:200
  • Currency Pairs  : 50+
  • Deposit Methods  : Many
  • Platforms  : 4
  • Headquarters  : Cyprus
  • Regulated  : Yes
  • Year Founded  : 2008
  • Demo Accounts  : Yes
  • Training  : Yes
  • Support  : 2
  • Copy Trades  : Yes
  • Minimum Deposit  : 100
  • Withdrawal Options  : Varies
  • Special Features  : Many
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