Markets.com

Markets.com
Markets.com

Introducing Markets.com

Markets.com is one of the larger and well-established brokers out there. It is part of Safecap Investment Limited which is a subsidiary of Playtech Plc. Playtech (LON: PTEC) is listed on the London Stock Exchange and is part of the FTSE 250. It has a market capitalization of over £1 bn. Hence, Markets.com is considered a very safe broker. Moreover, Markets.com is one of the fastest-growing brokers out there. It already has over 5 million registered users, 13 million trades placed, and over 185 billion traded value last year.

Markets.com offers a very wide range of assets, including CFDs on Indices, Currencies, Commodities, Cryptocurrencies, Shares, ETF’s, Blends and Bonds. More than 2,000 instruments are available on the platform.

In terms of regulation, Markets.com is regulated by ASIC (Australian Securities and Investments Commission), FSCA (Financial Sector Conduct Authority), FCA (Financial Conduct Authority) and CySEC (Cyprus Securities and Exchange Commission). The European operations are regulated by CySEC.

In this Markets.com broker review:

Markets.com at a glance

BrokerMarkets.com (www.markets.com)
Year Founded2010
RegulationASIC (Australian Securities and Investments Commission), FSCA (Financial Sector Conduct Authority), FCA (Financial Conduct Authority) and CySEC (Cyprus Securities and Exchange Commission)
Asset CoverageCommodities, Cryptocurrencies, Currencies, ETF’s, Indices, Shares, Bonds, Blends
Trading PlatformsMarkets.com proprietary trading platform, MarketsX, MetaTrader
Mobile TradingYes
Demo AccountYes
Minimum Initial Deposit$/€/£ 100
LeverageUp to 300:1 globally, but 30:1 for most EU countries, for retail trading accounts

Markets.com Asset Coverage

Markets.com offers a very wide range of assets to trade. They are Commodities, Cryptocurrencies, Currencies, ETF’s, Indices, Shares, Bonds, and Blends. That is 17 Commodities, 10 Cryptocurrencies, 50 Currency pairs, over 50 ETF’s, 33 Indices, hundreds of Shares, 4 Bonds, and 16 Blends. Blends are basically packages of companies, that have a particular exposure. For instance, the Cannabis Blend has exposure to Cannabis stocks. Or, the Brexit winners’ Blend is a package of stocks that would benefit from Brexit. It is quite rare to see a broker offering Bonds and Blends to clients, however, Markets.com does just that.

Markets.com Account Types

While Markets.com has only one standard account type, the properties do differ based on your location. Below is a summary of the different accounts available to people in different locations:

Markets.com accounts and regulation

As we can see, the biggest difference is the leverage and deposit bonuses. While there are no deposit bonuses, and only a 30:1 leverage is available for most EU countries, there are significant bonuses and larger leverage available to those based in Australia, Africa and other countries outside the EU. Other than that, accounts come in several different currencies that you can choose from. They are USD, AUD, DKK, EUR, GBP, NOK, PLN, SEK, and ZAR. Minimum initial deposit is $100.

Also, Markets.com offers professional accounts, with a leverage of up to 300:1, even for EU based clients.

Opening an account at Markets.com

While Markets.com accepts accounts from almost all countries worldwide, there are a few exceptions. They are the US, Canada, Australia, New-Zealand, Hong Kong, Japan, South-Korea, Israel, Russia, Brazil, Turkey, and Belgium.

Opening an account with Markets.com is pretty straightforward, and the process is fully digital.

Firstly, you will need to enter your email address and password and select a base currency. Once you’ve created your account, you will go through a verification process. This includes providing information such as:

  • Basic information, such as date of birth, address, etc.
  • Your financial information – how much you earn, savings, etc.
  • Your trading experience

Also, in order to qualify, you will need to answer a few questions regarding trading CFD’s.

Once you’re done with the latter, you will need to confirm your residency and identity. For identity verification, you will be asked to either upload a photo of your national ID, passport or drivers license. Whereas for residency, you will be asked to provide a copy of either your utility bill or bank statement.

After you’ve submitted all the necessary information, your account will go through a verification process. It can take up to 3 days to complete. However, in most cases, it’s done within the same or during the next business day.

Deposit and Withdrawal at Markets.com

As mentioned, there are a lot of base currencies to choose from. They are USD, AUD, DKK, EUR, GBP, NOK, PLN, SEK, and ZAR. Other than currency conversion fees, deposits at Markets.com are free. Minimum initial deposit is $100. Deposits are available in several different options, including:

  • Bank transfer
  • Credit Card Payment
  • Paypal
  • Skrill
  • Neteller

The bank transfer can take a few business days, while electronic wallets and credit/debit cards are instant.

As far as withdrawals go, they are also free of charge. This is a very good competitive proposition from Markets.com. Also, withdrawal options are similar to those of deposit.

Keep in mind that there are different minimum withdrawal amounts, dependent on the method used. For debit and credit cards or PayPal, the minimum is 10 USD/EUR/GBP. For wire transfers, the minimum is 100 USD/EUR/GBP or 20 EUR within the European Union. Whereas for Skrill and Neteller, the minimum is 5 USD/EUR/GBP. Withdrawals via credit cards take 2 to 8 business days.

Spreads, Commissions, and Fees at Markets.com

While Markets.com does not charge any commissions on trades, it makes its living by offering a spread. The average spread on EURUSD is 2 pips. In addition, Markets.com charges an inactivity fee, which is $10 per month after 3 months of inactivity.

Markets.com Trading Platforms

Markets.com offers an extended range of trading platforms available for its clients. Those include WebTrader, MarketsX, MetaTrader 4, and MetaTrader 5. Let’s take a look at each one of them.

Web Trader

Markets.com Web Trader is the primary option for most traders. It is also the backbone of the MarketsX platform, which we will take a look at a bit later. The initial layout of Markets.com is easy to follow. You’ve got your asset options, instrument search, alerts, and watchlist on the left. Next, what follows is a few tabs. Firstly, the different instruments, grouped in different tabs. Secondly, below it, you will find the news feed. Finally, on the right, you will find the chart of the instrument of your choice. You will also find different tabs above the chart.

Main Layout:

Markets.com platform

In the key statistics tab, you will find useful information about the instrument of your choice. For example, Open, Close, Ranges, Trading Conditions, Upcoming events and the countdown to the next event. The Events tab is basically your economic calendar. Insights give you a graphical look at how the price performed versus the sentiment. You can also take a look at your open position and open orders, news, converter (for currencies), and more.

As far as charting goes, there are a total of 10 timeframes to choose from. Additionally, you will be able to choose from more than 90 different technical indicators, draw lines, add objects and more.

Opening a position is fairly easy, with a few additional options available on the take-profit/stop poss section. Also, you are immediately shown the required margin for your position, which is a very useful feature.

Opening a position

Finally, within the trading platform, you are able to view various other technical and fundamental tools, such as:

Advanced alerts, financial commentary, multi-symbol charts (allows you to view more than 1 different chart on the same screen), insider trades, analyst recommendations, bloggers opinions, hedge fund sentiment, news sentiment, news alerts, video tutorials and more. In general, Markets.com differentiates from its customers by offering a very large range of sentiment available to traders. It definitely helps to make more informed decisions.

MarketsX platform

The MarketsX platform is in many ways very similar to the Markets.com Web Trader platform. However, it does offer a few interesting additional options to traders. They are additional technical indicators and generally more options while trading the platform. The platform was designed for those that need greater insight, better decision making, and more opportunities while trading.

Additionally, MarketsX offers lower spreads, VIP support, and your own analyst team. A minimum initial deposit of 250 Dollars/Euros/Pounds is required. You can open a standard account with Markets.com, and once you deposit at least 250 Dollars/Euros/Pounds, you can contact support and they will unlock the MarketsX platform for you. As far as spreads go, the minimum spread on the standard Markets.com platform is 1.9 pips, while on the MarketsX platform it’s 0.6 pips.

MetaTrader 4

Clients of Markets.com can additionally set up their account to be able to trade with MetaTrader 4 and MetaTrader 5.

MetaTrader 4 was designed specifically for Forex traders and has been out for quite a while now. It allows trading on 9 different timeframes, has 30 built-in indicators, and a very large database of free custom indicators. It is the most widely used version of MetaTrader. MT4 uses MQL4 (MetaQuotes Language 4) for its programming and algorithmic trading needs, and a very large database of ready-made scripts are available in the MT4 community.

MetaTrader 5

MetaTrader 5 was designed to accommodate trading in many different asset classes, rather than only in Forex. It comes with many useful additional features, such as 12 additional timeframes (21 total), economic calendar, more built-in indicators, and analytical objects, depth of market (DOM) and offers the new MQL5 language for programming and algorithmic trading needs.

It is superior to MetaTrader 4 in many ways, however since there is already a large database of scripts available for MT4 in MQL4 (which is not compatible with MT5), many prefer to stay with the older version of MetaTrader.

Mobile Trading with Markets.com

The mobile platform is really simple to use and resembles the desktop version by design. The main layout is the quotes manager, together with the chart of the instrument of your interest.

Mobile platform

Making a new position is also pretty straightforward, with all the necessary options available:

Mobile account opening

A very nice feature is that the app shows you the required margin for the position.

Finally, there is a wide selection of options available, ranging from reports on your trading activities, open positions, open orders, and similar options to the desktop version, such as statistics on an instrument, analyst recommendations, hedge fund sentiment, blogger opinions, and much more. Again, the different sentiments available is a very useful feature in making an informed trading decision.

Markets.com Additional Tools

Customers of Markets.com get access to useful additional tools, such as the economic calendar, countdown to the next event, various sentiments by different parties, such as hedge funds, analysts, and even bloggers. Additionally, you get access to a large library of videos on technical analysis. Topics range from beginner to intermediate and advanced. For example, support and resistance, moving averages, RSI, etc. Several hours of video content available throughout 8 beginner, 12 intermediate and 12 advanced video tutorials. Also, additional video tutorials are coming soon.

Markets.com Customer Support

Markets.com offer 24/5 customer support through different means of communication. They are live email, live chat, and phone. Also, support is available in other languages than just English. For instance, support in German, Spanish and Italian is also available. Markets.com customer service is fast and reliable, while the only drawback is that it is not available on the weekends.

Markets.com Awards

There is limited information available about Markets.com awards. However, it is known that in 2017 Markets.com was one of the best Forex trading platforms, as judged by the 2017 UK Forex Awards.

Conclusion

Markets.com is a leading force in the industry, offering an extended range of asset classes. It is well known for its MarketsX platform well suited for Forex and other traders. Governed by a parent company listed on the FTSE 250 it’s a generally very safe broker to trade with. What stands out is also that Markets.com offers 4 different platforms to choose from. Surely, anyone will be able to find something that suits their needs between them. The MarketsX platform is the way to go for most traders, as it offers lower spreads and additional trading tools. Great customer support and an extended library of sentiments available are also what makes this broker a great choice for any trader.

Benefits for Tradimo customers

Markets.com supports innovation in the financial education industry and offers Premium scholarships to Tradimo customers. To participate in the scholarship programme, you need to use our link to open an account with Markets.com, deposit, make a few trades and drop us an email at premium@tradimo.com. Once your account is verified, you receive a one-year membership with Tradimo Premium, where you can choose one of our popular Nanodiploma you want to study, get access to the Tradimo Signal Community and prioritized support from the Tradimo Team. Learn more here.

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Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

9 Total Score

PROS
  • 2000+ tradable assets
  • Leverage: up to 1:30
  • Minimum Deposit: $100
  • Regulation: CySEC, ASIC, FSB
  • 12 months of Tradimo Premium
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