CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.
Bottom Line Summary
If you want a large forex and CFD broker that complies with major regulators in multiple jurisdictions, then Markets.com may be right for you. It is also a division of the FTSE-250 company, Playtech PLC, ensuring ample capital reserves and the safety of being associated with a publicly listed firm on the London Stock Exchange. Much effort is made to welcome beginners with comprehensive training materials, supplemented by an extensive YouTube channel. While it offers MT4 and MT5 platform products, the real benefits of trading with this mega-broker can only be accessed on the firm’s proprietary Marketsx platform. A free demo is available to test its features and access institutional-level spreads and 2,100+ asset choices. Account opening is simple, and Customer Service has also won prestigious awards.
Markets.com can trace its roots back to 2008 when it began as GFC Markets. It soon merged with Safecap Investments and TradeFX and re-branded as Markets.com. Seven years later, Playtech PLC, a London-based gaming technology conglomerate listed on the London Stock Exchange, bought the group for 458 million Euros.
The TradeFX component of the group is the technology developer responsible for much of the software in the forex and CFD industry. It is responsible for developing the Marketsx platform, which has always focused on making trading more straightforward for retail consumers. It has garnered several awards for its excellence, and it is the flagship of the broker’s offering. It also supports MT4 and MT5 platforms.
Over the past decade, Markets.com has also organized five separate operating entities, as depicted above, to comply with and accommodate the needs of regional regulatory regimes. There are separate companies for the UK, EU, Australia, and South Africa, while all other clients in accepted countries trade through the British Virgin Islands subsidiary. Primary regulators are the FCA, ASIC, and CySEC.
The draw is for Forex and CFD trading of over 2,200 instruments if you are on the Marketsx platform. These asset choices include 65 currency pairs, 1,837 stocks, 38 indices, 60 ETFs, 24 cryptocurrencies, and another 50 assorted offerings. Support and training materials are top class, and near-professional level spreads can be had on the Marketsx platform.
Our Markets.com review revealed some confusion related to how the broker presents fees. Other reviewers seem to have run into the same issue – the firm touts extremely tight spreads and low fees, but access to these fee levels is tied to the firm’s proprietary trading platform, Marketsx. If you prefer to use the MT4 and MT5 setups, then fee spreads on currency pairs and CFDs may appear average or above average. The professional level spreads are elsewhere. There is also a minimal Inactivity fee after three months, but there are no charges for deposits or withdrawals.
Markets.com has a single, standard account with a free demo platform. Although there are no multiple account classifications, as with many brokers in the industry, your access to tight spreads and special features will depend on your selection of a trading platform. The firm has heavily weighted its incentives and low pricing arrangements on its Marketsx proprietary trading platform.
Minimum deposits are 100 units of GBP, USD, or EUR, but you might have to more than double that figure for access to the Marketsx system. Negative Balance Protection is also provided as a standard feature. Opening an account is easy and can be accomplished in less than a day in most cases. As with all global brokers, personal ID information must be verified, and registration may require another day if there is a problem. Access to a free demo is granted immediately.
Deposit and Withdrawal
Our deposit and withdrawal review revealed no fees and various payment methods. For deposits, you have the convenience of wire transfers, credit and debit cards, PayPal, Skrill, and Neteller, along with a few regional payment choices. Withdrawals are automated and can be made with wires, credit and debit cards, and, in some cases, direct payment to an electronic wallet.
There are strict legal rules on accounts that will receive a withdrawal, a reason to be sure your documentation is in order and that you have fulfilled any bonus requirements before initiating the process. Note that payment intermediaries can cause delays and charge fees for their services. You may also choose from several base currencies for your account, a benefit when transferring funds for avoiding conversion fees. There are as many as 11 on Marketsx but only seven on MT4 and MT5.
If your preference for trading is MT4 or MT5, you will not be disappointed with Markets.com, but if you are willing to try something different by logging onto Marketsx software, then you might be rewarded handsomely for taking that leap of faith. Spreads are significantly better, as are the products offered.
The Marketsx platform has won awards and does receive good reviews from its users, but it is a departure from the tried and true. Ample trading tools, indicators, and features are present, and the platform enables scalping strategies but not automated trading. These platforms support forex and CFD trading, but Markets.com uses Saxo Bank’s TraderGO setup for direct access to buy stocks. Access to this system is restricted to those traders who access the broker via its CySEC-regulated subsidiary.
Mobile Trading App
MT4 and MT5 mobile apps are supported on Android and iOS devices, and the firm’s proprietary mobile app for Marketsx also receives positive reviews. Although it attempts to mirror the functionality of the website and desktop versions, our trading review revealed that a few small items do not easily transfer to the app related to alerts and available indicators.
Markets and Products
Forex pairs and CFD trading of 2,100+ financial instruments equate to a broad portfolio that should satisfy the most discriminating tastes. The only issue is access, which is controlled by the trading platform of your choice or by your operating entity. Even with these restrictions, however, the most popular and highly traded assets are available to all traders, even though the spreads may be the best on the proprietary, Marketsx platform. Leverage is capped at “1:30” in the EU and UK but can be as high as “1:300” from the BVI entity.
This broker has made a good effort in the research area. There is a wealth of information at your fingertips in the Knowledge Centre and on the firm’s YouTube channel. Plus, third-party research reports include a news feed, trading ideas, recommendations on stocks, and market commentary. You may get more from a large banking broker, but the trend today is to seek research separately from trusted sources, not just your broker.
Markets.com continually scores at the high end of the scale regarding its Customer Service Department. The firm supports every contact tool in the industry – direct phone lines, email, live chat, and an online query form. Representatives were multilingual and quick in their response rates. Answers were professional and informed. The only shortcoming found was that support was only “24X5”. There is no support at the weekend.
Address: Markets.com (Operated by Finalto (BVI) Ltd, a division of Playtech PLC) Ritter House, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands
During our broker review, Markets.com did receive high marks for its educational materials. This broker does not take shortcuts in addressing the needs of beginners. A demo is free, and there is a burgeoning library of videos, tutorials, and frequent webinars to provide support. The broker’s FAQ section was also extensive and covered many detailed questions. The firm’s YouTube channel is also impressive with its array of commentary and instructional guides.
Safety is never an issue with Markets.com. Compliance with the FCA, ASIC, and CySEC ensures top-tiered compliance. Oversight from BVI and South Africa are extras, and the transparency that comes from dealing with a subsidiary of an LSE traded entity is even more assurance that security is a top priority. All client deposits are segregated in separate bank accounts, and participation in regional compensation programmes offers further coverage, although their applicability depends on which operating entity is your home base.
Verdict – Is Markets.com right for you?
If you prefer the safety and security that comes with a highly regulated broker, which is also listed on the London Stock Exchange, then Markets.com would be a wise choice as a financial business partner. The firm has a long history of delivering quality service, has several awards, and has a support infrastructure that can make beginners feel welcome. To get the complete offering of this broker, you might have to use its proprietary Marketsx platform, but it, too, has received high marks and awards for ease of use and excellence.
Alternatives to Markets.com
Markets.com is a significant player on the global forex and CFD scene, owned and operated by a British Virgin Islands group owned by Playtech, a firm listed on the London Stock Exchange. This large powerhouse offers an extensive array of products and features, but it is not without worthy competitors. If you would like to check out a few of the other brokerage firms, we have listed for your convenience below just a few of Markets.com’s opponents, each one a perennial favourite with the review community:
eToro: Large global broker known for its copy trading feature and broad product base
IG Group: Top of the list every year in the forex industry, LSE listed, London based
Plus500: Another popular and major CFD player on the London Stock Exchange
Pepperstone: Best in class out of Australia with a loyal base of beginners and veterans
IC Markets: Another major Australian broker, very low fees, low risk, ASIC regulated
If you are a beginner and would like additional support when looking for your first forex broker, we can also help you in your search.
How does Markets.com make money?
Like other forex/CFD brokers, Markets.com makes its income via its spreads, overnight funding charges, and minimal trading fees, but it also records profits on a net basis on CFD contracts. Margin interest and pass-through income from other partners complete the income stream picture.
Is Markets.com regulated?
Markets.com is one of the most heavily regulated brokers in the industry, complying with the FCA, CySEC, ASIC, BVI, and regulators in South Africa. There is also the added protection of dealing with a firm whose owner, Playtech, is traded on the London Stock Exchange, another level of public transparency required by law. As a result, you are dealing in one of the safest and most secure environments the forex industry offers.
How do you sign up with Markets.com?
Account openings are seamless and fully automated; just tap a “Create Account” button on any website page. After a quick registration process, you can gain access to a free demo account. To trade, you will have to upload personal ID information, as mandated by international law, and answer a few questions to aid the broker in providing you with service appropriate for your level of knowledge. Markets.com does not accept citizens from the US, Canada, and a few other countries.
Does Markets.com offer any bonuses?
Regulators in the UK and Europe currently prohibit promotional programmes designed to encourage trading in CFDs, but traders may find incentives outside the UK and EEA countries. These programmes vary from Refer-a-Friend to account opening bonuses, with trading requirements attached to them.
Is Markets.com good for beginners?
Yes, Markets.com does come highly rated for beginners with ample training and educational resources at your fingertips. There is also an extensive grouping of materials, both educational and informative. There is commentary daily on its proprietary YouTube channel.
What do you do if Markets.com is down?
Whether on the MT4, MT5 or the MarketsX platform, closing a position or selling short with a CFD is simple and straightforward. An execution template displays the pertinent information with a single click, and execution order types are shown. Simply click “Execute”, and your order with be quickly processed with funds delivered to your account.
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