Markets Broker Review
Markets Broker offers its clients several account types, depending on the amount of their initialdeposit. All account types provide commission-free trading, fixed spreads, and micro tradeable lots on the industry’s standard MetaTrader 4 forex platform. Exclusive & VIP account holders get some extras, such SMS trading signals & dedicated account manager.
First of all, we find the minimum initial deposit required by this broker high. According to the Account types section on the broker’s website, it is $5 000, and the members of the Markets Broker ‘s customer support team claim that the initial amount required is $500. Either way, we find it high for an unregulated brokerage. For example, one can open an account with IG (holding licenses from UK’s FCA, among others) with just $1.
Besides, the spreads offered by this broker are also high, amounting to 3 pips for the EUR/USD pair , while most brokers provide spreads within the range of 1.0 – 1.5 pips for this pair. What is more, we suspect that this broker uses a Market Maker model, as it offers only fixed spreads, and no ECN trading environment.
The Company. Security of Funds
Update: Currently, Markets Broker claims that its website is owned and operated by Age Capital Payments Solutions LTD, a company registered in the UK. Still, it is not regulated by UK’s Financial Conduct Authority (FCA).
Markets Broker is a young offshore brokerage, offering online trading in currency pairs, and CFDs on commodities, indices, stocks and precious metals on the popular MT4 platform.
Behind the brand is AGE Capital ltd., a company, registered in Vanuatu. This is an offshore jurisdiction, which offers a variety of tax benefits, however forex brokerages there are not regulated, no matter what they claim on their websites. They follow a simple and low-cost registration process instead.
In addition, capital requirements in this specific jurisdiction are very low, even compared to other offshore destinations, such as Mauritius and Belize: only $2000. Little focus is placed on compliance checking and consumer protection in such zones.
What is more, Markets Broker claims it holds a Category I License in Securities and Instruments and in Forex Investment Business by the Financial Services Board (“FSB”) of South Africa. Our team checked out on FSB’s website and did not find Markets Broker in the list of regulated companies.
So, Markets Broker’s activity is not overseen by any authority and engaging in business with such companies can be extremely risky. That is why, we would recommend you to select a forex broker licensed in UK, or Australia for instance, where regulation is strict and financial watchdogs are on the alert.
Markets Broker supports the MetaTrader 4 (MT4) with cross-device capability via desktop, web, mobile and tablet.
The platform is easy to use and is equipped with advanced charting tools, a number of technical analysis indicators, wide range of Expert Advisors (EA), as well as extensive back-testing options for them.
Methods of Payment
Markets Broker offers its clients the following payment methods: bank wire transfer, Fast Bank Transfer, via credit/debit cards (Mastercard, Diner’s Club Card, Visa), and e-wallet WebMoney.
Markets Broker Review Conclusion
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