Markets.com Review and Tutorial 2019
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|Markets.com Facts & Figures|
Markets.com offer CFDs across a huge range of assets from shares and indices to commodities and cryptocurrencies.
|Instruments||CFD, Forex, Crypto, Stocks|
|Regulated By||Safecap regulated by FSB, CySec|
|Mobile Apps||iOS, Android|
|FTSE Spread||1.2 pts|
|GBPUSD Spread||2 pips|
|Oil Spread||4 pips|
|Stocks Spread||0.1% Var|
|GBPUSD Spread||2 pips|
|EURUSD Spread||2 pips|
|EURGBP Spread||2 pips|
Markets.com is the brand of online broker, Safecap. Offering trading in Forex, CFDs, Stocks, indices and ETFs. The brand offers a choice of trading platforms and a wide range of instruments while retaining regulation in numerous jurisdictions. This review of Markets.com will cover both the benefits and the drawbacks, including trading fees, mobile apps and demo accounts, before concluding with a final verdict.
Safecap’s Markets.com came to life in 2006 and became regulated as a forex brand in 2008. In a relatively short space of time, the broker has built a dependable reputation. However, part of their expansion has been helped by a number of high profile trading partners.
The CEO and head office have also worked hard to offer innovative technology and top class customer service. As a result, Markets.com has won a number of prestigious awards, including:
- Best Broker in Customer Service Europe 2012 (Global Banking & Finance Review)
- Best Customer Service 2012 (London Investor Show Forex)
- Forex Provider of the Year 2017 (UK Forex Awards)
- Best Forex Trading Platform 2017 (UK Forex Awards)
Markets.com has a straightforward corporate structure. The brand is owned and run by SafeCap Investments Limited, who are the broker. SafeCap is then an indirect subsidiary of Playtech PLC which is traded on the London Stock Exchange.
Markets & Instruments
Markets.com delivers a very broad range of assets and markets to be traded:
- Shares – You have access to over 2000 shares in more than 12 markets, with a maximum leverage of 1:5.
- Forex – There is free access to over 50 currency pairs, including all majors, minors and exotics. Many of which are available 24/7, while spreads go as low as 2 pips with a leverage of up to 1:30. Leverage varies by asset and regulatory region.
- Cryptocurrency – You have 12 different crypto pairs to choose from, featuring Bitcoin, Litecoin, Ethereum and Ripple. Maximum leverage is 1:2 for these more volatile markets.
- Indices – Users have access to over 25 major global indices from 40 countries, with leverage of up to 1:20.
- ETFs – There are over 1900 assets available with in excess of 30 ETFs to enter trades with. Maximum leverage is 1:10.
- Commodities – You have access to over 15 commodities and up to 1:10 leverage.
Note Markets.com does not offer spread betting or binary options.
Minimum Initial Deposit
The minimum deposit amount to trade is $100. This is a relatively low minimum deposit, making Markets.com an attractive proposition for new traders with limited capital.
Commissions & Spreads
Markets.com does not charge trading fees or commissions. Instead, everything is covered in the spread. As a result, spreads are relatively high in comparison with competitors. Having said that, some brokers will charge a commission as well.
Markets.com does offer leveraged trading. The amount of leverage offered to EU traders was severely limited during the summer of 2018 by the European Securities and Markets Authority (ESMA). Leverage allows traders to open positions with a value in excess of their account balance. This however, does increase the risk and reward in each trade, and as such, the European regulator decided to limit the amount of leverage available to retail traders. Professional traders can still request and arrange higher leverage.
Markets.com also offer negative balance protection, meaning you cannot lose more than your initial deposit. This also means however, that traders must keep a healthy balance in their account, or trades may be closed if prices move against them. Stop losses are another valuable way to manage risk.
Note maximum leverage will depend on your account type and instrument. Cryptocurrencies will generally have low levels of leverage, whereas more liquid and less volatile assets such as popular forex pairs, can see leverage of up to 30:1.
Other Trading Fees
There aren’t too many costs to be aware of when trading with Markets.com. You will have to pay an overnight rollover fee if you’re trading with CFDs. There are also inactivity fees where an account is unused for considerable time – full terms and conditions are on the website.
Markets.com Trading Platforms
Markets.com offers its own proprietary trading platform. Trader feedback is mostly positive. The platform is web-based and easily accessible if you have an internet connection. The user interface is simple and clean, while still offering advanced charting and technical analysis tools. In fact, the platform also comes with a range of technical indicators to enhance chart analysis.
A unique feature of the platform is the trading cubes. This allows you to view numerous instruments at once, helping to streamline the trading process.
On top of a range of forex signals and everything you need for Fibonacci trading or scalping techniques, you also get a real-time news feed. This ensures you can monitor and react to the markets with ease.
The platform has several main sections:
- The header includes some non-trading functions, such as depositing funds, settings and access to customer support.
- Under the header, you can alter the view of the main panel via a menu list.
- The main panel is broken down into three sections: The left side is further divided into two sections. At the top, you can view tradable assets, while the bottom displays your account balance. The middle and largest section displays a chart of the asset you wish to trade. On the right side is your news bar.
Head over to the official website for video tutorials on how it all works and getting the most out of your platform.
MetaTrader 4 & 5
Markets.com users also have the option of the industry standard MetaTrader 5 (MT5) system. The download for MT5 is available for Mac and PC users. Once you have your MetaTrader login details you will have access to a powerful platform that offers advanced charts and in-depth analysis. You also have a long list of custom indicators at your disposal.
On top of that, you get sophisticated real-time trading tools and rapid execution speeds. The MetaTrader system is also easy to set up and there is a wealth of resources online to support you.
Note Markets.com also offer the MetaTrader 4 (MT4) platform on request.
Mobile trading app reviews are mostly positive. Firstly, there are apps for Android and iOS users. The app download is quick is and on-boarding takes just a few minutes once you have your mobile login details. You still get access to the diverse product list, allowing you to speculate on everything from oil to penny stocks.
Both iOS and APK apps are also powerful and packed full of charts and technical analysis tools. You also have numerous risk management features, including:
- Stop loss
- Take profit
- Entry limit
- Entry stop
Overall, the app is good, promising a straightforward transition from the desktop-based applications. However, it’s also worth noting the app doesn’t offer the following tools found on the web platform:
- There are no alerts
- You can’t access the news
- You can’t add indicators to your charts
- The economic calendar is not available
As a result, those who do a lot of trading from their mobile may want to consider how to replicate those missing elements, if required.
Methods of Payment
Markets.com offer a broad choice of deposit methods and account funding:
- Major debit & credit cards
- Bank wire transfer
Note you cannot fund your account with Bitcoin cash.
Withdrawal reviews are also positive as you can use all the same methods. To comply with money laundering laws, withdrawals must first be withdrawn via the same method as the deposit. In addition, there are zero costs for withdrawing funds. However, there are minimum withdrawal requirements:
- Credit/Debit Card – 10 USD/EUR/GBP
- Neteller/Skrill – 5 USD/EUR/GBP
- Wire Transfer – 100 USD/EUR/GBP
Average withdrawal times vary depending on the payment method but are all around the industry norm of within a few business days. Fortunately, this means if the market moves your way and you collect on 80 pips, withdrawing your balance will be quick and easy.
Part of registration will require choosing between several account options. Thankfully, the account types are straightforward. You have:
- Real Account – This is the standard live trading account that most users sign up for.
- Demo Account – The Markets.com practice account is free and available for an unlimited period of time.
- Swap Free Account – This is an Islamic-friendly account that operates in line with the Islamic Sharia Principle of interest-free trading.
All three account types offer several of the same basic features:
- Daily market analysis
- 24-hour customer support
As mentioned above, Markets.com does offer a free demo account. Funded with simulated money, their practice account is a fantastic opportunity to test drive a platform and explore intraday trading.
Then once you are comfortable with various trading tools and have built an effective strategy, you can open a live trading account. Both demo and live accounts can be open at the same time – this allows for strategies to be trialled and tested alongside real money trading.
Markets.com offers a range of useful additional resources and research materials. Head to the Education section and you can find tips on everything from trading zinc to Bitcoin. Reviews also praise the following services:
- Market Consensus
- Trading Central
- Traders Trends
- Events & Trade
- Trending Now
All of the features above can help you learn how to trade, from spotting potential opportunities to conducting in-depth market analysis. Once account verification is complete, you can access most of these tools from within your trading platform.
In addition, there is access to a live news feed. This means instead of leaving the platform and heading for the likes of Bloomberg, you can stay up to date with announcements from within your desktop application.
User reviews of Markets.com did point out, however, that the broker could do more in terms of social trading. There are no chat rooms or forums where traders can exchange ideas and have concepts explained. This is a shame, as such features can be useful, particularly for beginners.
Another area Markets.com falls down in is automated trading. The broker does not have APIs or offer any sort of trading algorithms and EAs.
Regulation & License
With an increase in the number of fake and fraudulent brokers around, finding one you can trust is important. Fortunately, Safecap has regulatory oversight from the Cyprus Securities and Exchange Commission (CySEC). This should put customers from France, Spain and the rest of the Eurozone at ease. Safecap is also regulated by the Financial Services Board (FSB) of South Africa.
As forex reviews demonstrate, their extensive regulation should re-assure users that the Markets.com brand is legitimate and trustworthy.
User reviews show Markets.com scores particularly well in several areas, including:
- Choice – Individuals have a vast range of trading assets and markets available.
- Platforms – You get a choice of trading platforms, including the proprietary web-based platform.
- Regulation – Far-reaching regulatory oversight ensures users can trade with confidence from London and Madrid to Gibraltar and Vietnam.
- Negative balance protection – This useful feature ensures users cannot lose more capital than is in their account. Take Markets.com vs eToro, for example, and you realise the former is one of the limited numbers of brokers that do offer this service.
There are also some bad Markets.com reviews. Most complaints centre around:
- No weekend support – Many day traders have to fit their trading around other commitments. But unfortunately, should there be a problem, weekend traders will not have access to any phone support.
- Complex navigation – Ease of use is one complaint. Navigating across the Markets.com system is unnecessarily fiddly and detracts from the overall user experience. Brands such as AvaTrade and Plus500 may score better here.
- Accessibility – Markets.com has opened its doors to traders from many countries, including the UK and most nations within the Eurozone. However, you cannot open an account if you are a citizen of the US, Canada, Australia, Belgium, Japan or India. Reviews will continue to improve, however, as the online broker opens its doors to more nations.
Markets.com Trading Hours
Markets.com opening and trading hours are fairly industry standard. For example, all major FX pairs will be available from Sunday 22:05 GMT through until 21:55 Friday GMT.
Note Markets.com will be closed for trading during certain holiday periods. See the official website for a break down of both instrument specific opening times and holiday hours.
Contact & Customer Support
User reviews are quick to praise the extensive customer support on offer. In fact, support is available in over 25 languages, 24/5. You can get in touch via email or live chat. Customer service agents can help you with a whole host of issues, from why your platform’s not working to helping you understand why an order was rejected.
There is also 24/5 phone support for users with funded accounts. Head over to the official website for the telephone number in your location.
In addition, Markets.com offers an extensive support centre and FAQ section where users can find their own answers. There you can find user guides, training videos or even just instructions on how to delete an account.
On top of that, the actual platform itself is available in 15 major languages, including:
Safety & Security
Customer reviews highlight the extensive measures taken by Markets.com to ensure clients security. In fact, there are a number of physical and technical protocols in place. These include robust firewalls, SSL technology and advanced encryption.
These measures should put prospective customers at ease that their personal data and information is safe at Markets.com.
Overall, user reviews suggest Markets.com are less concerned with dividends and more with providing an optimal trading experience to customers. You get a range of assets and tools, excellent customer service, plus reputable regulatory oversight. On top of that, the low minimum deposit ensures Markets.com is a worthwhile choice for both beginners and veteran traders.
Markets.com accepts traders from Australia, United Kingdom, South Africa, Singapore, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Markets.com from Russian Federation, Brazil, Switzerland, Japan, United States, Canada, Belgium, Israel, Turkey, New Zealand, Malaysia, Syria, Thailand, Indonesia, Iran, Iraq, Hong Kong, Philippines, Puerto Rico.
|Markets.com offer CFDs across a huge range of assets from shares and indices to commodities and cryptocurrencies.|