Markets.com Review 2020

Markets.com Review - Get Trusted Information about Markets com

Markets.com Review – Get Trusted Information about Markets com

MarketsX, which was Markets.com in the previous year, is an online brokerage firm that allows trading CFD and Forex. The brokerage platform is owned and operated by Safecap Investments Limited.

Markets com is being regulated by financial authorities such as the Cypriot CySEC or the UK FCA. Currently, the company is in Nicosia, Cyprus.

Markets.com website notes that it aims to add an ‘X Factor’ in trading activity by its state-of-the-art tools and services. It claims to empower a trader with upgraded offerings. MarketsX differs largely from the rest of the brokerage platform when it comes to the lowest spreads in the market. Also, it provides VIP customer services.

Basic Pros and Cons 

Pros Cons
Fast and free deposit and withdrawal service Services come with High trading fees
can use options like credit/debit cards or electronic wallets Trading activities limited to CFDs and FX
Helpful research tools It does not provide two-step authentication.

If we dig more about the platform, it charges a fee for inactivity on the trading platform. MarketsX is regulated in Cyprus, South Africa, Australia, UK, B.V.I (British Virgin Islands). The platform doesn’t require any withdrawal fee while it demands a minimum deposit amount of $250. It supports at least 9 types of currencies.

Background:

Markets com holds a long experience as a broker as it is operating in its field at least since more than 9 years now. However, it has a bit tricky journey till now. In Cyprus, Markets.com is operated by Safecap Investments Limited. Now, a subsidiary of Playtech named TradeTech Markets Limited owns Safecap Investments Limited. Actually, TradeTech Markets is a company traded on the London Stock Exchange.

Markets.com Review - Premium Trading Experience at Markets comMarkets.com Review – Premium Trading Experience at Markets com

Markets com affiliation to a company that is listed on major exchanges is a positive sign. As Markets com is regulated by at least one top-tier financial authority, it comes across as a safe platform for mobile trading.

Accounts: 

At Markets com, citizens of the USA, Canada, New-Zealand, Hong Kong, Japan, South-Korea, Israel, Russia, Brazil, Turkey, and Belgium cannot open an account. Here, you need to pay $250 to open an account, which seems not so costly. A demo account facility is also available here.

The process of account opening at MarketsX is easy and fast as it is fully digital. It can take a day to open an account here.

Steps to Open Account

  1. Fill up personal and financial information
  2. Go through a trading knowledge test
  3. Get your docs/ID verified

Markets.com Review - Steps to Open Account at Markets comMarkets.com Review – Steps to Open Account at Markets com

Trading Products

The website of MarketsX shows below options for trading:

  • Forex
  • Stocks
  • Commodities
  • Indices
  • Bonds
  • ETFs
  • Blends

While it is a multi-asset trading platform, it mainly focuses on trading CFDs and forex. Here, you can actively trade with CFDs, forex, a few cryptos, and CFD funds.

Regarding cryptos, it gives options, including major coins like Bitcoin Futures, Ripple, Ethereum, and more. Moreover, for CFD trading, Markets com offers as many options as platforms like Plus500 and eToro. However, Plus500 and eToro are better when it comes to the crypto market.

Traders can manage their investments using MarketsX Web Trader and the Markets app. Also, the mobile-optimized site can work on all mobile devices. One can get the app through Google play and App-store.

Markets.com Review - Trading Assets Markets comMarkets.com Review – Trading Assets Markets com

CFDs

Here, CFD (contract for difference) trading is fully regulated. Trading CFDs stand as one of the fastest-growing investment styles in the world. It reflects the movement of the underlying asset, although you never own the asset. Traders can get profit from the difference between the opening price and the closing price.

Markets com offers CFD trading services in the UK, Europe, Australia, Africa and BVI. MarketsX’ size and scale plays a key role to provide a more relevant offering that reflects where a trader stands in the world, including the local regulations

Placing Orders

A basic set of orders are offered at MarketsX. The platform doesn’t come up with sophisticated options. The types of orders include:

  • Market
  • Limit
  • Stop

Alerts and notifications

This one feature here is liked by many traders. With this, one can set up email, SMS notifications as well as price alerts. However, for order confirmation, there is no notification service.

Tools on the Platform for Analysis

There are four types of tools for analysis including fundamental, technical, sentiment and X-ray. Here, fundamental tools give you an all-round and in-depth view of the economic factors that may affect your trades. These tools basically contribute to the trade performance with greater transparency of the markets, and the ability to identify and act on trends as they happen.

Markets.com Review - Tools and Analysis of Markets comMarkets.com Review – Tools and Analysis of Markets com

  • Fundamental tools
    • Events & Trade

      Markets com is an interactive economic calendar for the FX markets which manifests all the big data releases such as central banks, non-farm payrolls, PMIs & more.

      The proprietary algorithm scans consensus data from over 30 leading economists across the globe. This can provide the results as the markets move.

    • Dow Jones News

      This option makes sure that the traders know the market moves which could impact their decisions. Also, it shows the top 20 most important news events on the world market curated by expert journalists.

    • Thomson Reuters Analyst Research

      This gives you essential information, along with mobile trading insight. The stock report is a company-specific analysis that includes an average stock rating supported by indicators and key data. This is basically a downloadable report by Thomson Reuters and available direct from the Markets com platform.

    • Advanced Alerts

      There are eight different types of alerts, starting from simple alerts to more complex ones. simple alerts will let you know price movements while complex ones can suggest you an expert’s change of opinion on your asset.

    • Financial Commentary

      Here, you will find all the news that affects market moves in real-time. Relevancy is a major plus here. Commentary is given by ForexLive.com.

  • Technical tools
    • Advanced Charting

      It shows easily identifiable market trends with opportunities that might have been missed. The tool is pretty much fast, user-friendly and of a professional grade. It also displays multiple charts in a single view.

  • Sentiment tools
    • Analyst Recommendations

      Here, you can gain knowledge from market experts. A trader can search through top Wall Street analysts and filter them by their star rating, and get their position on the biggest stocks.

    • Hedge Fund Confidence

      This can indicate where Hedge Funds are investing their money. For this, it uses the data from the SEC. Meanwhile, it also shows how fund managers are performing against their peers.

    • Bloggers Opinion

      The platform fetches views of more than 50,000 financial bloggers in this section to figure out where they think the market will go. One can follow their stock picks and get alerts when their position on asset changes.

  • XRay

Markets com offers a chance to interact with and ask questions to the experts. This helps the traders to get a market insight on everything that matters to an investor in the markets. This covers vital decision-making news, views, opinions, and trading strategies.

Markets.com Review - XRAY of Markets com

Markets.com Review – XRAY of Markets com

Fee Structure:

MarketsX has a pretty reasonable fee structure. Here, a trader does not need to pay account, deposit or withdrawal fees. Also, the CFD fees are low. However, the platform charges a fee for inactivity and financing rates, plus forex fees are also there.

As far as forex and stock index trading is concerned, spreads and financing rates occupy major part of fees. MarketsX charges high trading fees for forex. As compared to MarketsX, its peers like Plus500 or eToro charge less for the same.

The trading platform seems reliable when it comes to non-trading fees in general. Although, for inactivity, one has to pay $10/month after a 3-month long inactive period.

Customer Services and Safety

MarketsX’s customer service is reliable enough. Traders consider it a reachable one as it is quick too. It can be reached through several channels but is not available on weekends.

One can get in touch with MarketsX using live chat, phone, and email. If one wants to connect via phone, a local phone number can help as there is no need for an international call.

On the other side, the customer service cannot be reached on the weekends, though its availability is 24/5.

If we talk about its safety, MarketsX is considered as a low risk platform for trading. However, it doesn’t hold any banking license. As the firm is regulated by top-tier financial authorities, it seems safe and reliable enough. It also provides negative balance protection.

Learning and Research

MarketsX covers regular webinars and tutorial videos under this section. They also offer a demo account to have hands-on experience regarding trading. The types of videos fall under this include platform tutorial videos, short videos about trading tips. A few videos are as long as 60 minutes too. Moreover, general educational videos are also part of its education section.

Markets com research has been impressive until now. It offers helpful trading tools, recommendations, sentiments, economic calendar as well as good quality news flow.

Trading ideas given by MarketsX are also up to the mark. They are clear and indicate both the direction and the target prices providing to broaden the spectrum of a trader’s insight.The platform provides recommendations from top-tier bank analysts (J.P. Morgan, Goldman Sachs, Merrill Lynch and some others) mostly regarding shares.

These analysts are ranked according to their past performance. Bloggers also get to write about some of the stocks here in sections like Seeking Alpha or The Motley Fool. A trader can also witness how the company’s management or its other stakeholders traded with the stock at ‘Insider Trades sentiment.’

Markets.com Review - Tools of Markets comMarkets.com Review – Tools of Markets com

Advantages: 

  • Really fast and smooth account opening method
  • Great research tools
  • Low CFD trading fees
  • Can use Debit/credit cards for withdrawals and deposits
  • Demo Account

Disadvantages

  • High Forex trading Fees
  • Inactivity fee
  • Limited product options

Wrap up

Markets com come across as a decent brokerage company, and if you are interested in CFD trading, it can fit your needs. While it gives an impressive research facility with efficient tools, its trading fees are high. The platform largely focuses on trading CFDs and Forex trading on

Also, it has kept its account opening process easy and hassle free. Multiple top-tier financial regulators, like the FCA and the ASIC are regulating MarketsX.

Marketsx

8.5

SUPPORT

7.8/10

REPUTATION

9.6/10

SECURITY

8.6/10

PAYMENT OPTIONS

7.9/10

USER EXPERIENCE

8.8/10

Pros

  • Fast and free deposit and withdrawal service
  • can use options like credit/debit cards or electronic wallets
  • Helpful research tools

Cons

  • Services come with High trading fees
  • Trading activities limited to CFDs and FX
  • It does not provide two-step authentication.