Markets.com is a multi-asset platform established in 2008 offering CFDs and Spread Betting (UK only).
It’s regulated by various financial authorities in the world including the Financial Conduct Authority (FCA) in the United Kingdom and the Australian Securities and Investments Commission (ASIC).
Markets.com offers its brokerage services to over 4 million clients around the world through its user-friendly Markets.com trading platform, alongside the MetaTrader platforms 4&5.
The broker features the Markets.com platform that specializes in CFD
trading through which clients can trade many assets.
The platform is easy-to-use, as a result, beginner clients will not have any trouble while navigating in it.
Another much-appreciated attribute is the financial commentary tab that allows traders to keep up with the latest news across many markets.
|⚖️ Regulation||FCA, ASIC, CySEC, FSCA, BVI FSC|
|🖥️ Platforms||Markets.com, MT4, MT5|
|💳 Min. deposit||$100|
|💰 Base currencies||11|
|🔑 Type of broker||Market Maker|
|💸 Leverage||Varies on jurisdiction|
The process of opening an account at Markets.com is fully digital, fast, and seamless as the entire process can be completed within one day.
The account opening process involves the following steps:
Only email and password are required to open a demo account.
Step 2: Submit your personal details and trading experience
Step 3: Verify your identity and country of residence
To verify your identity, you must upload either a copy of your passport, driver’s license, or national ID. To verify your country of residence you can upload either a bank statement, utility bill, or other official documentation.
Accounts are verified within 24 hours.
There are some countries whose citizens are not allowed to open an account such as New Zealand, Hong Kong, Canada, Japan, Belgium, Brazil, Israel, the USA, Turkey, and Russia.
Deposit and Withdrawal
Clients are provided with different options for deposit and withdrawal without any charges while operating on an interface that is user-friendly.
Account base currencies
Clients that open an account with this broker have the option of choosing from 11 base currencies that include AUD, GBP, PLN, ZAR, SEK, EUR, CZK, USD, DKK, CHF, and NOK.
If the client is using the MetaTrader platform, the following base currencies are available for selection: JPY, AUD, EUR, PLN, CAD, USD, and GBP.
The availability of multiple options for account base currencies means there is a higher chance of clients funding their accounts in the same currency as their bank accounts which will also make it possible for them to trade in the same currency as the base currency of their accounts.
As a result, they will not have to pay a conversion fee.
Deposit fees and options
This broker charges no deposit fees and there are different methods by which clients can fund their accounts which include:
- Debit/Credit card
- Bank transfer / fast bank transfer
Payment via credit/debit cards is instant just like with any of the electronic wallets listed above while depositing through a bank transfer might take several business days. It should be noted that clients can only deposit money from accounts that are registered in their names.
Withdrawal fees and options
There are no fees charged when withdrawals are made just like with deposits and the same methods used for making deposits can be used when making withdrawals.
Also, clients can only withdraw to accounts registered in their names. The process of withdrawing money from Markets.com is shown below:
- At the top right corner of the platform’s screen, click on the menu
- Choose ‘Withdrawal’
- Select the method of either bank transfers, electronic wallets, or debit/credit cards
- Enter the amount for withdrawal and initiate the transaction
It is a straightforward process and within 1-7 business days, clients should have the withdrawn funds in their accounts, depending on the withdrawal method they choose.
Regulation and Security
Markets.com is regulated in five financial jurisdictions including two tier-1 financial authorities.
Which regulated entity you open an account with, will first and foremost depend on your country of residence.
- Markets.com operated by Finalto Trading Ltd. is regulated by the Financial Conduct Authority (“FCA”) under license number 607305.
- Markets.com operated by Safecap Investments Limited (“Safecap”) is regulated by CySEC under license no. 092/08.
- Markets.com operated by Finalto (Australia) Pty Ltd is regulated by the Australian Securities and Investments Commission (“ASIC”), with license no. 424008.
- Markets.com operated by Finalto (South Africa) Pty Limited is regulated by Financial Sector Conduct Authority (‘FSCA’) under the licence no. 46860.
- Markets.com operated by Finalto (BVI) Ltd is regulated by the BVI Financial Services Commission (‘FSC’) under licence no. SIBA/L/14/1067.
Deposits from clients are kept in segregated bank accounts with international banks and never merged with Markets.com’s own money or assets.
All retail clients have negative balance protection regardless of which regulated entity they open an account with.
Fees and Spread
The fees are divided into trading and non-trading fees; trading fees encompass spreads, commissions, financing rates, and conversion fees while non-trading fees cover costs not related directly to trading such as inactivity fees and withdrawal fees.
Below is an overview of the fees charged by Markets.com:
|EUR/USD||Average||The fees are factored into the spread; average cost of the spread is 0.4 pips during peak trading hours|
|S&p 500 [cfd]||Average||The fees are factored into the spread; average cost of the spread during peak trading hours is 4 points|
|inactivity fee||Average||$10 each month after 3 months of inactivity|
|europe 50 [cfd]||Average||The fees are factored into the spread; average cost of the spread during peak trading hours is 1.6 points|
Generally, forex and CFD fees with this broker are competitive.
The non-trading fees charged by this broker are low as there are no deposit, withdrawal, or account fees but there is an inactivity fee of $10 each month once a trader fails to be active for 3 months on his or her trading account.
The spread varies with the type of account, financial instrument being traded, and the platform being used by traders.
For example, the broker offers tighter spreads on its proprietary trading platform than on its third-party trading platforms such as MT4 and MT5 with both of them having an even more limited range of products.
The average spread is about 1.9 pips for EUR/USD while it is 3.0 pips for the same instrument on the broker’s MT4 platform.
🏆 Best Platform for Beginners
✅ CFDs, Stocks, Spread Betting
✅ Strategy Builder
✅ Trading / Analysis Tools
✅ Low Spreads and Fees
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The leverage varies with the different asset classes and which regulated entity the client signs up under.
Below are the leverage ratios for the global entity.
|Asset class||Range of leverage|
|Forex||1:50 – 1:300|
|Crypto||1:1 – 1:10|
|Indices||1:50 – 1:200|
|Commodities||1:50 – 1:200|
|ETFs||1:20 – 1:100|
|Bonds||1:50 – 1:100|
|Shares||Maximum leverage is 1:10|
Markets.com has its own proprietary platform which has proven to be very reliable by rapidly executing clients’ orders as well as by offering impeccable customer service.
The platform is accompanied by third-party platforms like MT4 and MT5. The table below shows an overview of the trading platforms offered by this broker.
|Proprietary or third-party platform||Proprietary||Third-party|
|Available instruments||CFD and Forex||CFD and Forex|
Web trading platform
Markets.com has a user-friendly web trading platform that offers excellent search functions and price alerts but lacks clear fee reports where clients can view swap charges.
There is also an absence of two-step authentication for safer login. The platform is available in the following nine languages: Danish, German, Spanish, French, Portuguese, Arabic, English, Dutch, and Italian.
The platform cannot be customized to the personal preferences of clients as they have to choose among the layouts that are already on the platform but it is possible to resize the windows which is good.
The search functions are excellent as traders can easily find what they are looking for as only relevant answers will turn up whenever they search.
There are no sophisticated order types as only the basic order types are available such as market orders, stop orders, and limit orders.
Clients can also set up SMS and email notifications as well as price alerts but they cannot set notifications for confirmation of orders.
Mobile trading platform
The mobile app of Markets.com has an adequate design with an amazing search function and price alerts.
Apart from the proprietary mobile app from Markets.com which is available for Android and iOS devices, MetaTrader 4&5 can also be used on mobile devices.
It is available in over 15 languages and the mobile platform can be navigated easily.
The search function is reliable because once a trader starts typing, all the available options will be displayed. The same order types on the web trading platform can also be used on the mobile platform.
Desktop trading platform
The broker’s desktop trading platform is offered through MetaTrader and it can be customized while also allowing clients to set price alerts.
However, the design is outdated and there is no two-step login. On MT4&5, only CFD and forex trading are available as investing in real stocks is not possible.
The platform is available in more than 40 languages which is quite extensive but due to the outdated design, it is a bit difficult to find some features on the platform.
However, it allows a great degree of customization such as adjusting the position and size of each tab.
🏆 Best Platform for Beginners
✅ CFDs, Stocks, Spread Betting
✅ Strategy Builder
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The search function is mildly satisfactory as available instruments can be found by browsing through different category folders but sometimes, it gets confusing due to the presence of forex folders that seem to be identical.
It is not possible to manually search for the name of an instrument. The normal basic order types are available along with order time limits like Good ‘til canceled (GTC) and Good ‘til time (GTT).
It is also possible to set alerts and notifications on the desktop trading platform via mobile push notifications and emails although this will require the client to add his or her email address and mobile MetaQuotes ID– which can be found in the app settings of MT4.
There are clear portfolio and fee reports as clients can find the display of their profit-loss balance and the fees they have paid.
Markets.com is majorly a forex and CFD broker while also offering real stocks but lacks other popular asset classes such as futures, options, or ETFs.
Its range of CFDs is satisfactory while there are some cryptocurrencies available for trading. The table below shows the available instruments and their respective numbers.
|Stock index CFDs||40|
The sale of crypto derivatives to retail traders in the United Kingdom has been banned by the FCA since January 2021 which means UK residents cannot trade crypto CFDs and neither can brokers based in the UK offer the asset for trading.
Also, the leverage on the instruments is fixed and cannot be changed which is a drawback considering that being able to adjust leverage is crucial if clients want to reduce the risk of their trades.
As far as stocks are concerned, the broker allows clients to trade stocks from various markets such as US, UK, German, French, and many more.
The broker also offers a unique product known as CFD Blends which is simply a combination of various CFDs categorized along themes such as ‘Brexit winners,’ ‘Brexit losers,’ or ‘cryptoblend.’
The composition of these CFD Blends is fairly transparent as it is possible to check how they have performed in the past.
Customer support of this broker is excellent as it can be reached via multiple channels to obtain fast and relevant answers but the only drawback is that it is not available on weekends.
There are four ways by which Markets.com customer support can be contacted:
- Online query form
- Live chat
The response to inquiries is fast and there are phone numbers for each region through which customer support can be contacted.
- AU: +61 280 144929
- EU: +357 2222 2121
- Other countries: +44 203 1500 380
However, customer support is only available 24 hours five days each week except on weekends which is a slight drawback.
The online query form allows clients to fill out a form for their inquiries and then wait for answers while live chat makes it possible to chat with an agent working for customer support so that immediate answers can be provided. The response time for emails can take between 24 to 48 hours.
Education and Research
In terms of education, Markets.com has good education tools which include platform tutorial videos, webinars, general educational videos, and a demo account.
Previously, the educational videos could only be found on the Knowledge Center of the website but now they are accessible on the broker’s platform or its YouTube channel.
The educational content contains short videos that provide clients with trading tips that will enhance their chances of profitability. There are also longer videos that focus on special topics such as trend signals.
The demo account can be used by clients to learn how the broker’s platform works while also testing their trading strategies to determine the best one that will bring success.
The research section of this broker is excellent with some great research tools available such as charting tools, newsfeed, and recommendations. Some of these tools include:
These are recommendations that inform the trader of whether to buy or sell a particular asset while also including target prices; however, the reasoning behind these recommendations is not given.
There are stock recommendations from analysts that are experts at top-tier banks in the world and these analysts are ranked according to their past performances.
This is limited because there it does not contain any actionable data on fundamentals such as previous financial reports or financial ratios.
Only basic financial data is available once the relevant tab of an instrument is clicked on.
There are good charting tools and clients can add up to 81 technical indicators while there are technical recommendations from bloggers, analysts, and hedge funds on certain stocks.
All the relevant news for every asset can be found under the section of News Sentiment. There is a color-coded score for each asset so that clients can instantly know if the news is positive, neutral, or negative.
Markets.com does not support social or copy trading and neither does it have a PAMM feature. However, it has advanced trading tools tailored for traders with sufficient experience.
The advanced trading tools can be used to monitor trading positions and get forecasts about price movements. These tools can also be used with indicators such as Elliot Wave, Fibonacci Retracement, and many others.
Furthermore, the advanced tools enable traders to engage in asset comparison, setting time scales, saving multiple templates, etc.
Markets.com earns money primarily through spreads.
Markets.com applies a market-making model when clients are trading CFDs. Often, orders from clients get matched against each other, or Markets.com hedges the exposure from clients.
The broker is as transparent as possible with its fees so that traders can see what is going on with their orders without having to worry about any hidden charges.
Quarterly updates on slippage results are provided by Markets.com which is a big plus.
Experience with Markets.com
When we tested the customer service, the response was professional, reliable, and fast. For example, we asked about how the broker charged its fees, and the agent we spoke to gave us a complete breakdown and even mentioned financing rates.
There is also an option to rate the agent you speak to at the end of the conversation and this allows clients to provide feedback so that improvements can be made where necessary.
After creating an account with Markets.com, regardless of whether it’s a demo or live account, clients are free to check out the investor education library to be updated with the latest price movements and market trends.
Accessibility is easy and the platform interface has great aesthetic quality.
Our trading experience has been without any major issues and we noticed good spreads during the London and New York session.
We think the stock investing charges through MarketsI are a bit high compared to competitors such as Capital.com and eToro.
The History behind Markets.com
Markets.com started as GFC Markets before it was rebranded in 2008 to ‘Markets.com’.
The rebranding occurred after there was a merger between the company that owned GFC Markets, Safecap Investments Limited and TradeFX, a software developer for CFD and forex operators.
In 2015, TradeFX and subsequently Markets.com were fully acquired for 458 million euros by Playtech which is now the parent company.
Playtech PLC is traded on the London Stock Exchange’s Main Market and is a constituent of the FTSE 250 index.
Markets.com has been awarded as ‘Best Trading Platform’ at the 2020 FX Scouts award ceremony, thus proving the broker’s excellence and reliability over the years.
Markets.com is a global broker regulated by five financial authorities around the world including top-tier bodies such as ASIC in Australia and FCA in the UK.
The process of opening an account is straightforward and once clients can produce the necessary documents, their accounts will be ready within one day.
Customer support is excellent along with research tools that are paramount to a trader’s success.
The broker’s web platform also lacks a two-step authentication and is available in a limited number of languages.
Overall, it is a good choice for traders that specialize in trading forex and CFDs but not so much for traders who are looking for a broker with extensive product offerings.