Investing > Markets.com Review

Markets.com Review

Markets.com (Safecap Investments Limited) has a user-friendly platform with top-notch tools for CFD trading - and a unique tool we haven't seen anywhere else.

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Reviewed by
Updated January 06, 2022

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Knowing how to analyze markets is great – but wouldn’t it be handy if you could spice your research up with a little extra kick?

With Markets.com, you can… kind of.

This trading platform has sentiment trackers for business insiders and hedge funds. This means that you can see what a company’s management and major shareholders are doing with their stocks before trading CFDs. Surely, they must know something that the general public doesn’t. 🕵️‍♂️

Millions of new traders have joined the forex market since our economy took a nosedive earlier this year. With economic chaos came opportunity, and new traders followed. Naturally, forex brokers have been competing to grab a piece of this trillion-dollar pie – and Markets.com is no exception.

If you are interested in forex and CFDs, you shouldn’t let this broker fly under your radar. Aside from the handy research options, it has a top-notch trading app and a huge number of international CFDs – and you don’t have to pay transfer fees.

As is the case with all things forex, you need to take a deeper look to see if this broker is what you need.

So, is Markets.com the perfect brokerage for you? Let’s find out. 👇

Markets.com is a broker focused on forex and CFD trading – the selection of CFDs is huge and the trading platform gets high grades for its ease-of-use and a large range of research options. Educational resources are free and plentiful, making the platform beginner-friendly.

Fast Facts

  • Regulation: FCA (UK), ASIC (Australia), FSC (BVI), FSCA (SA), and CySec (Cyprus)
  • Minimum Deposit: $/£/€ 250
  • Demo Account: Yes
  • Asset Coverage: Broad selection of forex and CFDs, as well as 6 cryptocurrencies
  • Best For: CFD traders who like to conduct thorough research

Ratings

  • Commissions & Fees: 5/10
  • Investment Selection: 5/10
  • Account Options & Features: 7/10
  • Usability: 9/10
  • Educational Resources: 9/10
  • Customer Service: 8/10
  • Overall: 8/10
Visit Markets.com on Markets.com website

Investor warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.9% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What is Markets.com? 📚

Formerly known as GFC Markets, this forex and CFD brokerage changed its name to Markets.com in 2010, two years after its founding. The brokerage was acquired by Safecap Investments Ltd, the Cyprian subsidiary of a British company called Playtech PLC.

This Cyprus-based broker is very popular in the UK, especially among CFD traders. Because of its competitive offer, the brokerage won the award for the best FX platform and best forex provider of 2017 in the UK. It’s currently regulated by the top financial institutions and has no major past grievances with unsatisfied customers or the law.

Markets.com Compared

Fees
Average spread EUR/USD standard

1.9

N/A

All-in cost EUR/USD - active

1.9

N/A

Minimum initial deposit

$100

$0

General
Total currency pairs

57

105

Demo account?
Social / copy trading?
Rating
Fees
Average spread EUR/USD standard

N/A

0.6

All-in cost EUR/USD - active

N/A

0.6

Minimum initial deposit

$0

$10,000

General
Total currency pairs

105

182

Demo account?
Social / copy trading?
Rating
Fees

Average spread EUR/USD standard

1.9

N/A

0.6

All-in cost EUR/USD - active

1.9

N/A

0.6

Minimum initial deposit

$100

$0

$10,000

General

Total currency pairs

57

105

182

Demo account?

Social / copy trading?

Regulation: Can You Trust Markets.com? 🛡

Markets.com only has a 10-year history behind it but seems to tick all the boxes when it comes to safety and reputability. The brokerage is under the watchful eye of 5 top-tier regulators: FCA (UK), ASIC (Australia), CySec (Cyprus), FSC (BVI), and FSCA (South Africa) which is a good argument for its reliability.

The brokerage also provides negative balance protection, which means you can’t get in debt by losing a lot of money on an overly-leveraged trade. However, NBP is only available for EU-based retail clients, so be careful when trading if this doesn’t apply to you.

In case the broker loses your money or goes bankrupt, you’re insured by the regulators. UK-based clients are protected for £85,000 if the company fails, and other European clients get up to €20,000.

What Markets.com Does Best? 🏆

If you’re eager to learn, Markets.com will not disappoint you as the broker’s range of educational resources is vast and logically organized. First off, the broker has thousands of well-produced videos that cover current events and news. 

There are also dozens of video courses on forex trading, technical analysis, etc. Just about every topic for all levels of expertise is covered on their channel, which is very good news for beginners who want to learn before they start trading.

On top of the multitude of free videos, Markets.com holds regular webinars and has courses on how to use its trading platform. All these resources make for high-quality and comprehensive education, but when combined with a demo account that allows you to trade with virtual money, it’s a full-package deal.

Most of the broker’s educational resources are free on Youtube – this easily puts Markets.com above most competition when it comes to education. All in all, if you’re a new trader who wants to learn, Markets.com is a good choice.

Research 🔍

Markets.com is a broker focused on forex and CFD trading, and as such, its research is on point. The platform has great charting with more than 80 technical indicators – this should allow you to use most, if not all, of the common forex trading strategies on MarketsX.

You cannot save charts but you can access expert recommendations provided by Trading Central, which is a good way to test your ideas against the opinions of pros.

Aside from expert recommendations, the platform also gives you basic fundamentals, an economic calendar, and a substantial news flow. The calendar has macro data that you can access, and beside every price, there are shortcuts that will show you trends, predictions, and fundamentals.

These features are very handy if you want to do thorough research and compare your results to other analysts. However, the really interesting part of Markets.com’s research is sentiments.

Unique Market Sentiments 📈

Like many other platforms, you can find trader sentiments for all products – this tells you if traders are buying or selling the asset in question. Unlike most platforms, MarketsX has insider trading sentiments – a very interesting feature. 

Essentially, MarketsX will show you what certain managers and large shareholders of a business are doing – whether they’re buying or selling stock is an indicator of where the company’s price is going.

You can also see what large hedge funds are thinking – the platform will show you what funds are buying and selling the stock you have in your sights.

Trading Platforms 💻

Market.com doesn’t have a desktop-based platform but it has 3 web-based ones. These are MetaTrader4, MetaTrader 5, and the broker’s proprietary MarketsX. 

The MetaTraders are easy to use and are known to all experienced traders. They are the industry-standard of the brokerage industry and have high customizability and all basic charting features and order types. MT4 has an abundance of mods and addons, while its newer version is a lot smoother all-around.

The MarketsX platform offers the same level of accessibility – it’s very easy to use and the logical UI design makes the software very easy to navigate.

You can access all features directly through the main screen at all times and use the handy search function to find the tickers you find interesting.

There are 5 basic order types and you can set up SMS and email notifications so you know exactly when a certain price has reached a price you need it to. At the end of the month, MarketsX can give you a clear fee report, which you can download – this way, you know exactly how much money you lose on all fees down to the penny.

All things considered, the MarketsX platform is beginner-friendly and has a plethora of handy features and research tools. The only missing characteristics are the two-factor authentication and customizability – even with these drawbacks, the platform gets good grades from users and critics alike.

Mobile Platform 📱

The mobile version of MarketsX mirrors the functionality of its web-based counterpart to the tee. The workflow is intuitive and you can use the search function to find financial products quickly – everything is done by swiping and pressing colorful buttons, so you don’t have to type much except when searching and logging in.

The app has the same number of order types and you can set up alerts – the platform will tell you when something happens through email, push, or web push notifications.

You therefore won’t be surprised to learn that the app rivals some of the popular forex trading apps. There are also some extra features on the mobile platform like entry limit and entry stop orders – and it’s available in 16 languages.

The app only lacks biometric ID and two-step authentication which would make it safer to use, but is otherwise well-rounded, quick, and without issues. All in all, MarketsX mobile actually has higher functionality than its web-based counterpart and is a powerful, user-friendly tool for forex and CFD traders.

Customer Service ☎

Responsive customer service is crucial for brokers who hold your money, and Markets.com doesn’t fall short in this area. You can reach the company via phone, live chat, and email – whichever medium you use, you will likely get a response in 2-3 minutes (emails usually get answered within 24 hours, however).

Markets.com’s customer support is available 24/5, which is good but not perfect since they are unavailable during weekends. They also have local phone numbers in most countries, so you don’t have to make an international call if you want to speak with an agent.

We sent a query to the customer service via live chat on markets.com’s website and we weren’t disappointed. The customer support representative responded in seconds and gave a quick and precise answer – although he didn’t strike us as a native English speaker, he was polite and helpful. Here is our little chat:

Markets.com Chat Support
Our actual chat with a Markets.com representative, courtesy of Markets.com.

Where Markets.com Could Improve 👨‍🔧

When it comes to pricing, Markets.com gives with one hand and takes with the other. On the bright side, there are no deposit, withdrawal, and account maintenance fees, which is great news for day traders who want to use their earnings often.

However, financing rates, trading fees, and some forex fees range from average to high. Moreover, the brokerage has a very strict inactivity fee – if you don’t make trades for 3 months, you will be charged $10 per month.

Financial InstrumentFee
Germany 30 CFD0.8 points on average (low)
S&P 500 CFD4 points on average (average)
Europe 50 CFD1.6 points on average (low)
EUR/USD0.4 pips on average (high)

Considering Markets.com’s target audience is CFD traders, prices on these trades could improve. Some financial instruments like the Germany 30 CFD are very cheap, while the S&P 500 price is average – it differs from product to product. 

Generally speaking, forex fees are high when compared to those of other top forex brokers but you can find a good selection of cheap ones too. All in all, Markets.com has very low fees for some CFDs and high commissions for other trades but doesn’t incur any additional expenses.

The leverage depends on the regulatory body your country is under and your account type. Clients who use the MarketsX account for traders get 1:30 leverage from CySec and 1:300 from ASIC – you can also ask for a leverage upgrade from the broker if your trading record is good.

Unlike MarketsX, the MarketsI account is for more casual investors and only gets 1:30 leverage from CySec.

🧐 Are you looking for a broker with a cheaper fee structure? We recommend taking a look at Interactive Brokers.

Deposit & Withdrawal 💳

Unlike the high trading fees, Markets.com’s withdrawal and deposit fees are nonexistent. Moreover, there are no conversion fees, which means you can fund your account with any of the 9 base currencies and you won’t lose money. 

Like other top CFD brokers, Markets.com has multiple funding methods. These include wire transfer, credit/debit card transfer, Skrill, PayPal, and Neteller. Card transfers are immediate but bank transfers can take a few days – you can only deposit via accounts that are in your name.

Withdrawals are also completely free and usually take 1-2 business days. To sum things up, transfers are quick and free, which is good news for day traders and other users who want to make regular deposits and withdrawals.

What Can I Trade With Markets.com? 🧾

This broker’s primary focus is CFDs, which it has a bucket load of – there are over 2,000 stock CFDs, as well as dozens of stock index, ETF, commodity, and bond CFDs. In short, when it comes to the selection of CFDs, Markets.com stands on the same level as its fiercest competitors.

The range of forex products is also substantial with 67 currency pairs – and users can also trade 6 cryptocurrencies. However, that is all there is – Markets.com is a specialized brokerage and the only tradable assets are CFDs, forex, and cryptos.

Particularly interesting financial instruments are the so-called CFD blends. Your usual CFD is based on the price of the underlying asset, and since it’s just a single stock or bond, CFDs are inherently risky. However, CFD blends have entire industrial sectors as underlying assets – therefore, they are often more predictable and more reliable for traders.

🖋 Side note: If you are searching for a wider investment selection? Take a look at our comprehensive eToro review.

Markets.com Account Setup 🎛

The fast-paced traders of today won’t find Markets.com’s account setup tedious. The entire process is fully-digital, straightforward, and takes under 24 hours – this means you don’t have to send any physical documents as everything is done online. To open an account, you need to do the following:

  1. Fill a form with your personal data and financial info.
  2. State your trading experience and do a short test to demonstrate your knowledge.
  3. Provide proof of your identity and residency – you need to send a picture of your national ID, passport, or driver’s license. Also, utility bills can serve as proof of residency.

After completing these steps, you need to wait for verification which usually takes about 24 hours. Finally, you just need to make the initial deposit of 250 USD, EUR, or GBP, and you’re good to go. Before you start trading, select one of the 9 offered base currencies – all in all, the account setup process is as straightforward as it gets.

Markets.com Investor Eligibility 🌎

The only real downside here is Markets.com’s limited availability. Although most European countries are eligible, the broker is not available in Belgium, Brazil, Canada, Hong Kong, Israel, Japan, New-Zealand, Russia, South Korea, Turkey, and the USA.

🇺🇸 If you are from the U.S. and you are looking to trade forex? Here’s a report on top U.S. forex brokers.

Account Types with Markets.com 🗃

There are only two types of accounts – a retail account and a demo account. The former is used for trading while the latter is used for learning. You can trade on a demo account using virtual money to practice and test your ideas – it’s always recommended for beginners to spend the first few weeks here before moving onto the real deal.

Markets.com offers two services: MarketsX and MarketsI. If you want to trade forex and CFDs, MarketsX is the service for you – on the other hand, MarketsI is used for general investing and works as a stock brokerage account.

Qucik note: If you’re looking to trade stocks, check out the leading stock brokers for beginners to get started.

Promotions 🎁

Markets.com offers bonuses for new traders – by signing up and depositing money, you get anywhere from $25 to $3,500. You cannot withdraw this money but you can trade with it and transfer the profits to your bank. 

However, these bonuses do not apply to clients for the UK and the EU due to regulatory restrictions. You can see what Markets.com’s latest promotions are by opening an account,  before making the initial deposit.

How COVID-19 has Impacted Forex Trading 📈

The forex market is usually only disrupted by major global events – and we’ve had a really big one in 2020. The lockdown most of us were in has wreaked havoc on world economies – and countries battled this problem with government funding.

As a result of all this, we’ve seen an extremely volatile forex market, but also, an influx of new traders numbering in the millions. This has bought trillions of dollars of value into the picture and “saved” the damaged forex market

Now, the forex space is very vibrant, but still highly volatile – be it COVID-19, conflicts between Armenia and Azerbaijan, or just about everything going on in China and the U.S., all these events are changing the markets and keeping prices unpredictable. With the upcoming second wave of lockdowns in the UK, the European market is looking very eventful too.

Even though things seem normal at times, like when the USD rallied recently, this is not the time to be reckless. It’s recommended to play it safe in the forex market this year – the era we’re in is unprecedented, making it very hard to make solid and profitable predictions.

Playing it safe also means knowing how to avoid forex fraud. Scammers have used the volatile markets and the coming of inexperienced traders to try and sell fake products – make sure you double-check before you buy anything.

🇬🇧 Are you a trader from the UK? You can find a list of top UK forex brokers here.

Conclusion 💭

As a forex and CFD broker, Markets.com passes with flying colors on most fronts. There are no transfer fees and the trading platform is feature-rich and easy to use – the mobile platform is even more powerful that its web-based counterpart and has better functionality. 

You can research and analyze financial instruments in depth with the platform’s analytical tools and sentiment trackers which are much more comprehensive than your average forex broker’s. New traders will also like the sheer volume of Markets.com’s educational content which is free on the broker’s youtube channel.

On the downside, some trading fees are high and the broker is limited to forex and CFD trades. You can also trade several popular cryptocurrencies, but if you’re interested in other asset types, this might not be the brokerage for you.

Markets.com: FAQs

  • Is Markets.com a Legitimate Forex Broker?

    Yes – Markets.com is regulated by the FCA, ASIC, and CySec, which are the top financial regulators in the UK, Australia, and Cyprus respectively. Moreover, Markets.com is a publicly-traded company which means any suspicious activity will damage its stock price.

  • Is There a Minimum Deposit with Markets.com?

    The minimum initial deposit at Markets.com is $250. If you use Euros or GBP, the minimum is also 250.

  • How Long Does it Take to Withdraw Funds with Markets.com?

    Usually, withdrawals take 1 to 2 business days. This is quick considering withdrawals are completely free.

  • How do I Withdraw Funds with Markets.com?

    Open your trading platform, log in, and select on the “Menu” button in the top right corner of the screen. Then, select the transfer method – wire transfer, card transfer, or e-wallet transfer. Finally, type in the desired amount and press “transfer” – the money should arrive in 1-2 days and you won’t encounter any fees.

Markets.com and the Competition

See how Markets.com compares to the leading forex brokers by reading one of the reviews below.

All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com. Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website. Click here for a full list of our partners and an in-depth explanation on how we get paid.

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