Markets.com Review
"The firm is beginner friendly and offers a low initial deposit"
History and Background
Markets.com is owned and operated by SafeCap Invesments Limited, which is a firm headquartered in Cyprus, and regulated by the Cypriot body CySec, along with the FSB and ASIC. The holding company SafeCap Investments was founded in 2006 under the name of Arbat Capital Limited, and assumed its present form and title in 2009, with regulatory approval for forex operations being granted in 2008.
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Account Types
Markets.com offers more account options than what is generally available in a typical forex broker. The minimum initial deposit requirement is $100 and that includes a welcome bonus of $50, subject to the usual terms and conditions of a mini account for which the ceiling is $2,499. Markets.com provides a welcome bonus of up to $250 to each new client opening a mini account.
The minimum deposit requirement for a standard account is $2,500. Users of the standard account receive free access to the "News to Mobile" service of the firm and are also granted a welcome bonus of up to $2,000 which can be withdrawn after trading volume reaches a predetermined level.
Traders who open an account with an initial deposit of $20,000 and beyond will be eligible for the benefits of a VIP account. Apart from the welcome bonus, owners of a VIP account receive full access to the News to Mobile service, along with free FX Signals via SMS.
Leverage up to 200:1 is available to clients of Markets.com. There are also various additional options for corporate clients. Please note that increasing leverage also increases risk.
Trading Software
Clients of Markets.com have the option of choosing between four separate trading platforms regardless of account type.
MetaTrader (MT4) is the industry's most popular platform due to its state-of-the-art offering of wide range of charting and indicators tools, easy entry order, creating tailored expert advisors (EA's) and greater speed.
The Markets.com Trader is a downloadable, Windows-based platform that is easy to install and operate. The interface facilitates single click orders on a flexible drag-and-drop interface. As with all modern trading software, the Markets.com Trader comes equipped with a wide array of technical tools that can be used while trading real time charts.
Markets.com Java Trader is for traders who may not always be at home while accessing the markets. Benefiting from the excellent security features of a JAVA-based platform, the software requires no download or installation and can be used on any browser. Markets.com's Practice Trader (or demo account) is also based on this platform which is another reason to open an account with Markets.com.
Finally, the Markets.com Mobile Trader is an application designed specifically for the cell phone, with the purpose of facilitating quick and easy access to the markets when the trader desires to react to some important event while on the move.
Deposits and Withdrawals
Markets.com is highly flexible with respect to account deposits. The firm accepts credit or debit card transfers via Visa, MasterCard and Diners' Club, along with wire transfers for both deposits and withdrawals, and is also open to various local transfer options, upon discussion between the client and the firm.
The broker charges no fees during the deposit/withdrawal process and commits to reimbursing the client for any charges incurred to the financial intermediary (i.e. the bank) in deposits that exceed the $2,500 mini account limit.
The withdrawal process is initiated following the submission of a withdrawal request form by the client. Credit card withdrawals are instant, while withdrawals through other mediums may take up to 3 days at times. In rare cases this process may take longer due to delays in the interbank market, according to statements at the broker's website.
Customer Support
In line with the general trends in retail forex brokerage, Markets.com offers an excellent support service with employees responding to calls 24 hours a day during the week in multiple languages. With over 25 local phone numbers from different countries, various email addresses to different departments and a live chat makes contacting Markets.com relatively simple in comparison to the market standard.
Safety
Markets.com rises above the industry standard in ensuring the safety of client account details. In addition to various advanced physical and technical safeguards, the broker implements rigorous firewalls, and the SSL (secure socket layer) technology to ensure the safety of information transmission.
Markets.com is a member of a select group of brokers that are regulated by more than one national body. The firm is subject to the rigorous rules of the FSA, in addition to being authorized and supervised by CySec of Cyprus, a regulatory body in compliance with the standards of the European Union. The firm submits regular reports to these institutions in order to establish its compliance with various regulatory rules and the state of its finances.
Conclusion
Markets.com is five years old this year, but it's only moderately young by standards of the forex brokerage business. On the whole, the firm leaves an impression of being a solid, reliable broker with no outstanding features beyond competence in what it does. The website of the broker is also highly informational as well as educational; if you're interested in the firm, we recommend that you examine it for yourself.
The firm is beginner friendly and offers a low initial deposit at $100 for a mini account which is very reasonable in comaprison to other brokers of today. Traders will also appreciate more account types than what is usually offered by forex brokers, ranging from the just mentioned $100 mini to the $20,000 VIP.
On the safety front, the firm stands out as a broker regulated by two separate and credible EU authorities. If your main desire is trading with a highly regulated, visible company, Markets.com is a suitable choice.
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In sum, Markets.com is a good option for any type of trader, whether beginner or seasoned due to its solid concept, excellent customer service, regulation and general image of competence.
