Markets.com Review - Is It A Scam?
Here at Mr Binary Options we are always looking out for brokers that offer exciting features and have a good backing in the industry. Recently we stumbled upon Markets.com and decided to check out this broker further. Unlike a lot of other brokers we review, this broker focuses on CFD trading and Forex rather than standard High/Low binary options. We saw that they area sponsoring one of the top football teams in the UK and could not resist investigating. Let’s see what we found out.
|Support Options||Email, Phone, Live Chat|
|Leverage||Up To 1:300|
|Deposit and Withdrawal||Credit and Debit Cards, Wire Transfer, PayPal, Skrill|
|License||CySec License (Cyprus) 092/08 and FSB (South Africa) License 43906|
|Location||148 Strovolos Avenue, 2048 Strovolos, P.O.Box 28132, Nicosia, Cyprus|
Markets.com – Trading Platform
As we touched on in the intro, Markets.com is a CFD (Contract For Difference) and Forex broker rather than the basic Binary Options we are used to. The trading platform provided by Markets.com is very comprehensive in this regard and rivals trading platforms provided by some of the very exclusive CFD brokers. The user interface is really clean but provides plenty of information at the same time. There are plenty of options to play with for the chart display and your leverage. Although the platform provides many features, they have made sure it is not overwhelming and complicated. If you are used to trading binary options, you will find that the Markets.com platform is a good way to break into CFD trading.
A lot of brokers only provide very basic charting tools just to get you started and expect you to do your own technical analysis. This can be difficult for new traders to get to grips with and even for experienced traders this can be a bit of a pain to deal with. Luckily this platform provides a great number of tools for technical analysis including indicators such as Simple and Exponential Moving Average (SMA – EMA), Bollinger Bands, Moving Average Convergence-Divergence (MACD) and more.
Markets com scam or legit?
One of the main questions for traders these days when they come across a new broker is this: Is this broker a scam or is it genuine? With the many scam brokers out there, it is difficult to just accept that any broker that comes along is the real deal.
We did our research into Markets.com and we found this is indeed a regulated broker that is operated by Safecap Investments Ltd. They are licensed by CySEC (license number 092/08) and also South Africa’s Financial Services Board (FSB, license number 43906). It is unusual to see a broker hold two different licenses, but it certainly is reassuring as they have to conform to both agencies. The main reason going with a regulated broker is recommended is that trader funds are insured for maximum peace of mind.
Additionally, we found that Markets.com is an official sponsor of Arsenal Football Club and has been sponsoring the team since 2014. A team with such a reputation as Arsenal will only allow legitimate businesses to sponsor them, so this was another good sign.
With all this in mind, we can saw with confidence that traders can be rest assured that Markets.com is a genuine brokerage and one with some serious backing.
Getting Started With Markets.com
You can open an account with Markets.com absolutely free and they will even give you $/€/£ 25 to start trading with. This is excellent as it gives you a chance to get to grips with the broker before investing your own money – and you can even profit from the free funds!
Going beyond the free account, the minimum deposit is just $100 which is great to see. Many other brokers enforce a minimum of $250.
As with all brokers, we always check out the customer support on offer to traders. It is important to choose a broker which offers great customer support as you never know when you will need assistance. Markets.com really excels in this area as they provide customer support in over 20 different languages and also provide geographic phone numbers for many countries to make sure you are not being charged the earth when phoning. Live chat support and email tickets are also on offer should you need them.
Markets.com extra features
As well as the features already discussed, Markets.com also offers a mobile app for android and iOS so you can trade on the move. This is great for traders with a busy lifestyle! The apps are just as in depth as the web training platform which is excellent to see.
Deposits and withdrawals are also a smooth process with this broker. Deposit opens range from wire transfer, Skrill, Neteller and credit / debit cards. Making a deposit does not incur any fee. The same goes for withdrawals, no fees are charged.
Spreads go as low as just 2 pips on many of the currency pairs and there are no commissions charged. In addition, leverage can be up to 1:300. This makes them very competitive compared to other CFD and Forex brokers.
So, in conclusion, we can clearly see how Markets.com is one of the top brokers in the CFD and Forex trading fields. Even if you are new to CFD trades, this may well be a great broker to start with as they offer $/€/£ 25 completely free when opening an account – you can truly see if this kind of trading works for you.
The company itself has proven to be genuine and not a scam. Holding multiple licenses and a sponsorship for one of the top football teams in the UK really goes to show how much backing they have. There are also training assets available to help you progress and mature as a trader even if you are completely new to CFD / Forex – only the top brokers offer this kind of service as, let’s face it, scam brokers just hope you will lose your money.
Overall, Markets.com is an excellent brokerage for CFD and Forex trading and we are pleased to give it our seal of approval.