Markets.com Broker Review 2024

Markets.com is one of the Forex brokers regulated by reliable authorities such as FCA, ASIC, and CySEC. These regulation licenses, along with its +4.7M users, make it seem like a reputable brokerage.

But is Markets.com actually suitable for your investment and trading needs? In this review, we will find out everything about this company.

Company Information & Regulation

Markets.com is a well-established and fully regulated broker with $3T+ trading volume and 7 offices around the world, according to the website. Company Information Based on Crunchbase:

• Founded Date: Oct 14, 2008
• Founders: Armando Gutierrez, Vicco von Bulow
• Headquarters: Miami, Florida, US

The broker is licensed and regulated by several top-tier financial authorities, including:

• Cyprus Securities and Exchange Commission (CySEC), 092/08
• Financial Conduct Authority (FCA) in the UK, 481853
• Australian Securities and Investments Commission (ASIC), 424008
• Financial Sector Conduct Authority (FSCA) in South Africa, 46860
• British Virgin Islands Financial Services Commission (BVI FSC), SIBA/L/14/1067
• Financial Service Authority (FSA) in St. Vincent and The Grenadines, 27030 BC 2023

Important Specifics

To give you a brief overview of Markets.com's different aspects, here's a summary table of key specifications:

Which Account Types Are Available on Markets.com?

The broker offers 2 main account types, which is a drawback compared to many other brokers with various trading accounts. We will discuss each account below:

• Standard (Retail): With leverage up to 1:30 and negative balance protection
• Professional: For experienced traders meeting specific criteria, higher leverage (up to 1:300) and more flexible trading conditions, but reduced regulatory protections

The brokerage also offers a demo account with $10,000 in virtual funds for practice. Besides, an Islamic account is available for Muslim traders.

Advantages and Disadvantages

To help you have a clear and balanced image of Markets.com, let's weigh the pros and cons of trading with this broker:

Account Opening and Verification

Getting started with Markets.com is a simple process, but it takes time and patience. Here's a quick guide to help you register:

• Go to the official Markets.com website and click on the "Start Trading" or "Sign Up" button;
• Provide your email address and create a strong password for your account. Alternatively, use your Google, Facebook, or Apple account;
• Choose your country of residence;
• Answer the follow-up questions about your trading experience, education level, career, etc.;
• Provide additional information about your identity.

Now, your account is created. For verification, upload proof of identity (e.g., passport, driver's license) and proof of residence (e.g., utility bill, bank statement).

Trading Platforms and Applications

Markets.com offers a diverse range of trading platforms with various features and specifics. In this section, we will take a look at each of them:

• TradingView: a popular trading platform with advanced visual analysis and a vibrant community
• MetaTrader 4: An easy-to-use platform offering expert advisors, one-click trading, etc.
• MetaTrader 5: An upgraded version of MT4 and the most advanced online platform developed by MetaQuotes Software
• Proprietary Platform: a user-friendly facility with powerful tools and without any hidden fees

Each platform offers its unique strengths, allowing traders to choose the one that best fits their trading style and needs. You can download these platforms via the links in the table below:

How Is The Structure of Spreads and Commissions?

Markets.com offers an average level of pricing for its traders. However, it does not charge any commission on trading. Here's a breakdown of its fee structure:

• Inactivity Fee: A fee charged by the broker when the client's account has been inactive for a certain period
• Conversion Fee: 0.6% cost when converting between currencies
• Overnight Swap: A fee charged for positions that are open overnight
• Spreads: Variable spreads starting from 0.5 pips on major currency pairs. The exact spread depends on market conditions and the specific instrument being traded.

It's worth noting that Markets.com does not charge fees for deposits or withdrawals, although your payment provider might have its own fees.

Deposit & Withdrawal Options

There are different platforms and providers for processing payments in brokers. Markets.com offers a variety of them:

• Credit/Debit Cards (Visa, MasterCard)
• Bank Wire Transfer
• E-wallets, including Skrill, Neteller, and PayPal
• Apple Pay

Always check the most up-to-date information on the Markets.com website, as payment methods and processing times may vary depending on your location and current regulations.

Copy Trading & Investment Options

Actually, the broker offers only 1 investment method beyond traditional trading, and it has dedicated a special platform for it. Social Trading in Markets.com:

• Provided in partnership with Pelican Exchange Europe
• Ability to follow more experienced traders and copy their strategies
• Access to real-time signals
• Rankings for master traders

Download the social trading platform via the links below:

• Android
• iOS

Tradable Markets and Instruments

Markets.com performs well in terms of market offerings, as it provides CFDs on a good range of tradable instruments across various asset classes:

• Forex: Over 50 currency pairs
• Shares: More than 200 global stocks from major exchanges worldwide
• Cryptocurrencies: More than 20 digital assets including popular cryptos like Bitcoin, Ethereum, and Litecoin
• Commodities: Access to 20 symbols of precious metals, energies, and agricultural products
• Indices: Trade 30 major stock indices
• ETFs: Gain access to over 60 exchange-traded funds
• Bonds: TNOTE10, TBOND30, GER10YBOND, and GILT10Y

Overall, there are over 350 trading symbols and assets available for clients on the broker.

Markets.com Broker Bonuses and Promotions

As of the time of writing, Markets.com does not offer any bonuses or promotional offers to new or existing clients.

While the lack of bonuses might seem disappointing at first, it's worth noting that many reputable brokers have moved away from offering bonuses due to regulatory constraints and a desire to promote responsible trading practices.

How and When Can I Contact Support?

Markets.com provides multiple channels for customer support to ensure traders can get help when they need it:

• Live Chat: Available on the Markets.com website or through WhatsApp via +357 25263923
• Phone Call: 24/5 global support line at +357 22278807.
• Email: Send inquiries to support@markets.com
• Online Form: Submit detailed queries through the website's contact form.

Support is available in multiple languages, including English, Arabic, French, Italian, and Spanish. Unfortunately, the support team is available 24/5.

List of Restricted Countries and Regions

While Markets.com serves clients from many countries worldwide, there are some restrictions due to regulatory limitations and international sanctions. The list of restricted countries includes, but is not limited to:

• United States
• Canada
• China
• Japan
• North Korea
• Iran
• Iraq
• Sudan
• Syria
• Somalia

It's important to note that this list can change based on evolving regulations and company policies.If you're residing in or a citizen of a restricted country, you'll need to look for alternative brokers that are licensed to operate in your jurisdiction.

Trust Scores & User Ratings

Trust and reputation are crucial factors when choosing a broker. Usually, these parameters are observable on websites such as Trustpilot. Let's look at how Markets.com fares in online reviews and trust scores:

• Trustpilot: Markets.com has a score of 4.3/5 based on over 1,000 reviews. This indicates a generally positive sentiment among users.
• ForexPeaceArmy: The broker has a lower score of 1.9/5 on this platform, with only around 50 ratings.

While online reviews can provide insights into user experiences, it's important to approach them critically. Consider the overall picture, including regulation and company history.

Does Markets.com Provide Any Educational Content?

The broker tries to help traders improve and perform better by providing some educational resources on its official website. These resources include:

• Webinars on trading and financial markets
• Glossary for technical terms in finance and trading
• News & analysis articles

Markets.com might not offer a comprehensive broker on Forex trading, but it does a better job than some of its competitors in teaching and guiding clients.

Conclusion and final words

Markets.com is a CFD broker regulated by top authorities, including CySEC and ASIC. This level of regulation usually comes with a stable and reliable brokerage, and the one we discussed seems to be that kind.

However, the lack of variety in account types can be a disadvantage to some traders. Also, no 24/7 support is provided. Aside from drawbacks such as those mentioned, Markets.com is recommended for most use cases.