Markets.com is an online forex broker that offers a wide range of account types. The initial deposit amount has been kept quite low, at only $100 for a mini account, with bigger accounts that offer extra benefits being available for a higher deposit.
The mini account comes with a welcome bonus of up to $250, but has several limitations, including a ceiling of $2,499.
Markets.com has an interesting pricing strategy with a range of benefits being offered to customers that use different accounts. The Standard account has a low barrier to entry, requiring only a small deposit. Holders of a standard account can pay a premium to get access to the site’s News to Mobile service, while standard accounts (which require a deposit of $2,500) can access the News to Mobile service at no extra charge.
VIP accounts offer users unlimited access to a personal market dealer, unlimited access to the News to Mobile Service, and free use of FX Signals via SMS. There are trading bonuses for those that meet certain minimum trading volume requirements.
Markets.com allows trading leverage of up to 200:1, with some flexibility allowed for corporate clients. It is, however, worth noting that greater leverage means greater risk as well as greater potential for gains. Leverage should be used with caution.
The Trading Platforms
Markets.com offers a choice of four different trading platforms. These platforms are available for all users, regardless of their account type.
Among the platforms offered is the industry standard Meta Trader 4. This offering is likely the only one that many traders are concerned with, thanks to its familiarity, flexibility, speed, and wide range of functions.
Traders that do not wish to use Meta Trader 4 have other options, however. Markets.com provides two downloadable clients – one which is a Windows only executable, and a second Java client that should run on most platforms, including Linux.
In addition, there is a Markets.com Mobile client that makes it easy for traders with compatible mobile phones to trade on the move.
Deposit and Withdrawal
The deposit and withdrawal process is quite simple. The site is flexible when it comes to the payment methods that it accepts, with popular cards including Visa, Mastercard, and Diners Club all being supported. Wire transfers are also allowed, and there is some availability for other local transfer options on a case-by-case basis.
The site levies no transaction fees for deposits and withdrawals, and will reimburse customers for bank fees for deposits that exceed the mini account limit of $2,499.
The site has been designed from the ground up to be as safe and secure as possible. All financial transactions are done using SSL technology, and the security of the site itself is closely monitored. The company submits regular reports to several governing bodies, and is regulated by the FSA and by CySec of Cyprus.
Markets.com is a comparatively young site when compared to some other sites in the forex world, however it has been around for several years, and looks like it will be around for many more. The site is well run, with support available 24 hours a day in several different languages. As an added bonus, there are several local call support lines, along with live chat on the website, and email support options too.
Markets.com is a good option for traders of all experience levels and budgets. It is, however, especially newbie friendly, with lots of support offered, and educational tools aplenty on the website. The availability of several different trading platforms is a big plus for beginners, and the offering of Meta Trader 4 means that as users mature and gain experience they can simply upgrade their platform to MT4 and stay with the site.
The low initial deposit level makes it easy for traders to try out the site without having to commit themselves for a long time, and the regulation of the site is a big plus for those concerned about the security of their funds.
In conclusion, Markets.com has a lot to offer. There’s a free demo account available for those that would like to sample the site’s tools without having to hand over their financial details. The demo account is nice, but where the site comes into its own is when you start using a full account and try out the mobile features. Getting forex news anytime, anywhere is a boon to any serious trader, and something that more sites need to offer.
The margins on the site vary depending on the currency pair that you’re trading, but overall, the cost of using the site is competitive when compared to other sites, and the extra features make it worth using.