Markets.com Forex Broker Review
It’s no surprise Markets.com has quickly become a leading Forex and CFD broker seeing as how the company is owned by Safecap Investment Limited, a CySEC regulated investment firm which owns several additional successful online trading companies. So not only is Markets.com regulated by CySEC, they are also MiFid compliant within Europe, and are also licensed by the South African Financial Services Board (FSB).
Markets.com has three different trading platforms available to investors: Classic MetaTrader 4, (both as a download and web terminal), the Markets.com proprietary web trader, and the Sirix web trader. Traders who prefer the simplicity and ease of MetaTrader will surely enjoy using the Markets.com web trader, while the more experienced trader who requires a vast number of analytical tools will likely opt for the Sirix platform. Busy traders will be pleased to know Markets.com has a downloadable app available for each platform.
Types of Accounts
Similar to their platform offerings, Markets.com offers three different account types, which include: Classic, Standard and Premium.
Classic – Their Classic account is for new traders or investors who want to test out the Markets.com experience. It requires just a $100 initial investment, comes with video tutorials and daily market analysis.
Standard – A minimum deposit of $2,500 is required to open a Standard account. And at such a low-cost investment, traders get assigned a dedicated account manager and get high-quality daily trading signals.
Premium – The Premium account requires an initial deposit of $20,000 and comes with all the features mentioned above. With this said, the Standard account seems to be the best value buy.
Spreads and Commissions
Markets.com offers both fixed and floating spreads on Forex pairs. Fixed spreads start at 3 pips while floating spreads for the major currencies starts at around 2.2 pips per trade. Their CFD products require a minimum floating spread of 0.005 pips for each trade.
Pros and Cons
Endless number of technical trading tools made available
Low minimum deposits
A variety of mobile trading apps
Regulated and licensed
Maximum 200:1 leverage
Award winning customer support services
Large spreads in comparison to other Forex brokers