Looking for an innovative interface for a better trading experience? Markets.com, which is now MARKETSX, is a highly regulated Forex broker globally.
As the world’s fastest-growing brokers, the platform offers a myriad of user-friendly trading platforms. What’s more? They have more than 2200 assets you could choose for trading.
The trading assets on a platform include and are not limited to shares, currencies, indices, commodities, and cryptocurrencies.
In this Markets.com review, you will learn the pros, cons, salient features, and how to use MARKETSX.
A Brief on Markets.com
MARKETSX, formerly Markets.com, made waves as a global Forex broker in 2010. Before 2010, it was called GFC Markets after the owner of GFC Markets, Safecap Investments LTD merged with TradeFX in the year 2015. However, Playtech PLC acquired TradeFX. Thus, TradeTech Alpha LTD, a division of Playtech, became the owner of the platform, which, after rebranding, emerged as MARKETSX.
Is Markets.com Safe?
Now, before answering this question regarding the platform, let us first understand what MARKETSX is.
MARKETSX previously Markets.com is a highly regulated Forex broker. In fact, it is regulated across five jurisdictions. While FCA or the Financial Conduct Authority is the major regulator, each jurisdiction offers unique benefits and a myriad of trader protection policies that vary from one jurisdiction to another.
So, which are the other jurisdictions? In Europe, apart from FCA, CySEC is another authorized regulatory body for the platform. While in Australia, it is regulated by ASIC, in South Africa, it is FSCA. In the UK, the trading platform is regulated by FSC. This unique global regulation makes the platform an extremely safe Broker.
Salient Features of MARKETSX
Now it’s time to discuss the regulatory differences and similarities. Across all the five regulatory or operating bodies, ‘negative balance protection’ and segregation of client funds from that of the companies remain a constant on Markets.com.
Nevertheless, in the case of CySEC in Europe, the platform traders are further protected by the ‘Financial Instruments Directive 2014/65/EU’, MiFID II, and Europe’s 4th Anti-money Laundering Directive. Also, Europe further mandates Investor Compensation Fund or CIF offering a maximum cover of €20,000.
UK-based traders, unlike the EU, can make use of the FSCS or the Financial Services Compensation Scheme with maximum coverage of £85,000.
Traders falling under FCA, FSCA, and ASIC also enjoy loyalty rewards and incentives. Thus, Markets.com offers the utmost transparency with a sturdy regulatory policy in place. It is one of the reasons that make it a reliable global trading brokerage.
Unique Tools Offered by Markets.com
In a nutshell, the trading platform offers 15 trading tools on its Cash platform. While these tools are designed to enhance the trading experience, they are segregated as fundamental, technical, and research and analytical tools for better understanding.
In this Markets.com review, let’s discuss a few of these unique tools to understand what makes MARKETSX a trusted, secure, and easy to follow brokerage.
As one of the research and analytics tools, the Events & Trade section of MARKETSX takes on the role of economic calendar carrying data provided by more than 30 globally renowned analysts. For instance, the Thomson Reuters Analyst Research offers traders some of the best analytical tools for ETF CFDs, equity, index, etc.
Traders can also make use of the Insider Trades tool, which displays the trading activity of some of the key insider firms. Thus, making it a powerful tool for equity traders.
Easily Accessible Customer Support
The review of Markets.com is incomplete without the mention of its customer support. While traders can access MARKETSX customer care 24/5, the support offered, however, is multilingual. That being said, the non-English-speaking traders can access support in other languages like French, Spanish, Arabic, German, Italian, Bulgarian, to name a few.
Needless to say, as a well-operated global brokerage, MARKETSX provides minimal scope for traders to seek customer support. Moreover, the trading platform frequently asked questions (FAQs) are listed in the support section, which provides a basic understanding of MARKETSX.
In this next section of the review of Markets.com, let’s learn how easy it is for new traders to open their MARKETSX trading account.
Getting Started with Markets.com
While the standard protocol across any brokerage involves filling a complex application form, at Markets.com, on the contrary, the online form only requires the trader’s email id. The trader can then create a password to access the web trading platform.
Nevertheless, a copy of the trader’s proof of residency and a valid ID is mandatory for the AML or KYC requirements. Apart from this, to open a Markets.com account, users are required to make a deposit of 100 USD or EUR or GBP, to name a few as per their jurisdiction. For UK-based traders, the minimum amount to open an account is 250 USD or equivalent.
Deposit and Withdrawal Options
Traders can make deposits or withdrawals on Markets.com via various means like credit/debit cards, PayPal, Skrill, or even bank wires. While local bank transfers could be used for depositing, they do not apply for withdrawals. These methods are also subject to the jurisdiction of the trader. Also, as per the various regulators, the deposits and withdrawals are subject to processing only if the accounts are in the name of the registered trader.
Markets.com Pros and Cons
While there is no guaranteed stop-loss option, deemed as a minor drawback, the pros outweigh the cons with Markets.com.
The platform facilitates trading signals, charting package and chart trading, automated trading, market analysis, to name a few.
Although majorly a web-based platform, It also supports the MetaTrader 4, MetaTrader 5, and Proprietary Platforms.
When it comes to trading cryptocurrencies on Markets.com, it supports trading of Bitcoin Cash, Ethereum Dash, Ripple, Litecoin, Bitcoin Future, to name a few. Here, users without the cryptocurrency wallet can also trade cryptocurrencies, which is a major plus.
Markets.com presently, MARKETSX is an optimal web-based trading platform regulated by five major authorized bodies depending on the trader’s jurisdiction. Thus, it is a highly secure global brokerage apt for trading over 2200 assets, including Forex, cryptocurrencies, commodities, etc.
1: What is Markets.com?
Ans: Markets.com, which is now MARKETSX, is a highly regulated forex broker that has more than 2200 assets for trading.
2: Is Markets.com trusted?
Ans: The trading platform offers 15 trading tools on its cash platform & all these tools are designed to enhance the trading experience.
3: How does Markets.com make money?
Ans: The platform makes its money through the spread and swap rate of the market.
4: Is Markets.com legit?
Ans: Yes, the platform is regulated across five jurisdictions.
5: What is Markets.com leverage?
Ans: Trading on leveraged capital means that you can trade amounts significantly higher than the fund you invest.