Markets.com Review

There are several ways in which Markets.com offer education to the novice and experienced traders. The education package start with a basic study which is, although available to guest visitors for free, it is very basic.The other parts of their education center is offered to all traders who open a live account and fund it with a minimum of $100. Their education package will extend to include the following tools

• One to One Tuition
 – This is one of the most useful aspects of markets.com’s educational package. It’s available immediately and sees you allocated an account manager specific to your needs who will help you through the entire process. Some traders report that the service extends to direct recommendations of trades which is definitely placing the company a little in the a grey area, especially when the recommendation goes wrong and the client is knowledgeable.
• Webinars and Seminars
 – markets.com offer a wide range of webinars and seminars aimed at the new and more experienced traders. Markets.com also have signed up some of the world’s B list traders to present them. The webinars are well presented and considered an interesting insight into the world of Forex.
• eBook and Forex Articles
 – As with many Forex brokers, markets.com offer a wide range of articles and a beginners’ Forex eBook to help new traders get a grip around the whole Forex trading experience. The articles are written simply and they’re moderately comprehensive in their coverage as you gain experience you’ll feel that you need a little more depth and detail.
• Daily Briefings -
 Keeping traders abreast of news that affects fundamentals, these are provided for those who want to get a summary of what influenced the market during the day and what is likely to influence it during the days ahead.
• Autochartist – This is available only to PRO account holders but is a powerful tool that analyses millions of pieces of information and produces trading recommendations based on the chart’s price action.

The key elements of markets.com’s client support is the one to one support. This can be gained by phone, email or live chat to an allocated account manager that can be chosen from twenty different language speakers. Help is available 24 hours a day during trading periods and based on thorough investigation, the service is timely and helpful and their staff are very professional.

The company has won several awards, many from insignificant organizations but has received the Customer Service Award in both the London Investor Show and Global Banking and Finance Review.
Reports however indicates a level of hesitancy to work with traders who’s been successful with Markets.com in the past . Problems were reported as soon as exposure of successful trades increased. However, problems never exceeded taking time to process withdrawal requests and stressing the clients to trade more or start over if they booked profits.

Markets.com and their subsidiaries are registered and approved by regulators in many countries but closer inspection reveals that the structure of its’ regulation is very loose. For example. Markets.com is regulated by CySEC in Cyprus, and therefore, they should be allowed to offer their services in the EU. Nevertheless, the FCA in the UK stated that they have ‘limited’ regulatory powers over Markets.com. For this reason, we believe that Markets.com don’t have any other license in addition to the Cysec license.

Markets.com have a limited number of trading platforms all seemingly based around the MetaTrader4 model. They offer MT4 itself but also a plug in to it, unique to Markets.com called Sirix which promises more tools, indicators etc. They offer mobile based platforms as well as desktop.

Typical margins quoted on Forex by Markets.com is 1:200. Other brokers vary the margin depending on the size of the trade and the type of account but Markets.com seem to apply a fixed margin or at best, don’t specify the scale of margin until you sign up.
Markets.com offer Islamic accounts but bizarrely seem to indicate that Expert Advisor is incompatible with it. On other accounts EA is accepted. The broker’s Network Trading Scheme allows you to shadow the trading of experienced traders and copy their trades.
Slippage and re-quotes from Markets.com weren’t frequent during the review, although the ‘cover all eventualities’ terms and conditions mean you cannot preclude this happening.
You will be warned when trading that you’re close to that point but reach it and your position will be liquidated.

Markets.com say that they charge no commissions or fees, simply making their money from the spreads on trades. Clients can choose between fixed and variable spreads. Spreads are relatively high on the major pairs, typically between 2.2 and 3 pips. Moreover, there’s a condition in Markets.com account opening documents which says that the company can widen spreads at their own discretion, something traders using Markets.com have commented negatively on and definitely raise cautiousness.
Deposits can be made by a variety of means and are usually credited to the account the same business day. Withdrawals can be made to a similar number of destinations but take longer to process.