Markets.com review 2024

Markets.com is a renowned CFD broker that initially launched in 2008 as GFC Markets. It specialises in web-based trading services, and offers a user-friendly mobile platform for trading on the move. With its strong financial background, the company has taken steps towards becoming one of the best CFD brokers around. The platform have also accumulated a large number of respected partners, such as Arsenal Football Club.

What can I do with Markets.com?

Markets.com offers CFD (Contract For Difference) trading. This is a form of trading where you can trade against the changes in value without owning the underlying asset. As well as trading cryptocurrency CFDs, you can also trade other assets and securities, such as forex, commodities, stocks, and indices.

CFD brokers allow you to trade with leverage, although this is reduced for cryptocurrency trades. The web platform allows you to use a multitude of trading techniques and tools when trading, which are covered in more detail below.

Markets.com offers two basic trading platforms; the MetaTrader (MT4 and MT5), and a proprietary web-based platform dubbed Markets WebTrader. The Markets WebTrader is ideal if you are looking to get into the market right away without the need for further downloads or installations. The MT4 or MT5, on the other hand, caters to more experienced users who might have used MetaTrader previously.

However, one thing you can’t do with Markets.com is buy and own cryptocurrencies. It’s always important to remember that trading CFDs means you are speculating on the value of coins rather than owning them. To do this you will have to go to a cryptocurrency exchange.

Can I open an account with Markets.com?

Yes, residents of United States can open an account with Markets.com.

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Sign-up with Markets.com

Which cryptocurrencies can I trade on Markets.com?

• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Ethereum (ETH)
• Ethereum Classic (ETC)
• Dash (DASH)
• Litecoin (LTC)
• Ripple (XRP)

Markets.com payment methods

You can choose from several deposit and withdrawal methods. Just be aware that you will need to show Proof of Identity (POI) and Proof of Residence (POR) before you can start to deposit funds in your Markets.com account.

Bank Transfer

You can fund your account through a bank transfer. You can do this through the Deposits menu on both platforms. Funds may take up to 5 days to show up in your account. Giropay and Sofort users are also accommodated. Usually, withdrawal requests are processed within a day. However, for international transfers, this may take as long as 7 business days.

Debit/Credit card

You can make deposits with Visa, Delta, or Mastercard. Deposits made through this method will usually arrive instantly on your Markets.com account. However, withdrawals might take 1-4 business days. The associated credit or debit card must be registered to your own name, so you cannot use a corporate credit card.

Electronic wallets

You can deposit and withdraw from Markets.com with PayPal, Skrill, and Neteller. The process is very much so the same as with debit or credit card, and deposits made this way are typically instant. Withdrawals, however, may take 3-7 business days to come through.

What devices can I use Markets.com on?

Markets.com has both a web-based and mobile trading platform. As such, it is compatible with all devices that operate on Windows, MacOS, iOS, and Android operating systems. However, do note that the mobile trading platform as mentioned does have less functionality, which means that your user experience might differ across devices. Regardless, you can use Markets.com on:

• Desktops
• Laptops
• Tablets
• Smartphones

How easy is it to use Markets.com?

Markets.com has a fairly intuitive web-based platform, with clearly tabbed sections that can be accessed from the landing page. The web-based platform supports 15 languages (English, German, French, Spanish, Greek, Italian, Arabic, Russian, Norwegian, Dutch, Finnish, Danish, Swedish, Czech, and Polish). On the other hand, the mobile platform carries more languages but provides slightly less trading functionality. This is not so important for users who simply want to keep tabs on their trading positions, but it might be a negative for those who wish to look for more detailed trading analysis whilst being on their phones.

Remember, CFD trading is a financial trading technique that takes time to get fully to grips with, which is why the free demo service and the educational tools section on the main website make its new-user experience much friendlier than others. Be prudent and take your time to learn how the process works before depositing and using your money.

Countries supported

Markets.com operates in over 40 countries. It supports most European countries, including the United Kingdom. Here is a list of the supported countries:

• Andorra
• Argentina
• Austria
• Bahrain
• Bulgaria
• Chile
• Croatia
• Cyprus
• Czech Republic
• Denmark
• Estonia
• Finland
• France
• Greece
• Hungary
• Iceland
• Isle of Man
• Israel
• Italy
• Kuwait
• Latvia
• Liechtenstein
• Lithuania
• Luxembourg
• Malaysia
• Malta
• Mexico
• Monaco
• The Netherlands
• Norway
• Oman
• Poland
• Portugal
• Qatar
• Romania
• Saudi Arabia
• Slovakia
• Slovenia
• Spain
• South Africa
• Sweden
• Switzerland
• United Kingdom
• United Arab Emirates
• Uruguay

Regulation

Markets.com is regulated around the world. It’s regulated in the UK by the Financial Conduct Authority (FCA), for countries inside the European Economic Zone, Markets.com is under the regulation of the Cyprus Security Exchange Commission (CySEC). The company’s South African operations are under the regulation of the South African Financial Sector Conduct Authority (FSCA), in Australia it’s regulated by the Australian Securities and Investments Commission (ASIC). The rest of the world is covered by FSC Global.

Account verification

In order to live by the expectations of its regulatory bodies, Markets.com requires that you verify your account by providing identity documentation. These are:

Proof of Identification

You will need to upload a clear image of your valid passport. Otherwise, you can also submit your government issued ID or driver’s license. For these, all the vital details like full names, photo expiry dates and document number must be clearly visible.

Proof of Residence

Here you will need to upload a clear image of a bank statement, utility bill, or a municipality statement that clearly shows your full address, full name, as well as the stamp of the issuing company/institution. These documents must have been issued within the last 6 months.

Markets.com customer support

Markets.com has 24/5 available customer support through livechat and email, and can handle queries in up to 7 different languages. They do not provide call-based support.

Markets.com CFD platform

First impressions

Markets.com’s trading platform strives to offer a good experience to both the new and seasoned trader. Most of its common features like the CFD section, news and analysis, trading tools, and support centre sections are easily reachable. The CFD section can be accessed through the homepage. Opening a demo account only requires you to sign-up with a username and password and requires no more. The fact that you only need $100 to start trading is a plus especially if you are new to the industry and are looking to test the waters first.

What currency pairs can be traded?

Most cryptocurrencies on Markets.com can be traded against USD and EUR, with the exception of XRP/Ripple and Ethereum Classic. The list of currently offered pairs are:

• BCH/USD
• BCH/EUR
• BTC/USD
• BTC/EUR
• DASH/USD
• DASH/EUR
• ETH/USD
• ETH/EUR
• LTC/USD
• LTC/EUR

Are there any trading fees on Markets.com?

Markets.com does not charge any commission or trading fees since they make their profits from the spreads offered. In regards to non-trading fees, the platform charges overnight fees while trading with CFDs as well as inactivity fees. This is exactly what it sounds like, you will be charged a fee if you want to hold a position overnight, and you will be charged a fee if you don’t use your account for 90 days. The inactivity fee is $10 per month.

What is the minimum spread on Markets.com?

A spread is the difference between the bidding (buying) and asking (selling) price. The minimum spread is the lowest spread a broker is willing to offer for a given cryptocurrency pair. The platform has not specified the minimum spreads with regards to cryptocurrency but you can always contact their support team for more details.

Can I trade cryptocurrencies with leverage?

Yes, but not with very much. Leverage on crypto trading is limited to 1:2. This is because of the fluctuations in the crypto market, where trading large leveraged positions can lead to huge losses or profits in a very short space of time. You can open forex positions with high leverage on Markets.com.

What are the margins required?

The margin is the minimum amount of money you need to put in in order to open a leveraged trade, so you only put up a fraction of your exposure if trading with leverage. Markets.com has not divulged the specific percentage the margins are set at for cryptocurrency.

Can I open long and short positions on Markets.com?

Yes, you can open long and short positions. Opening a long position means buying at a specific price, perhaps you believe the price will go up, whilst opening a short position means selling at a given price when indicators project that prices will fall.

Are there withdrawal and deposit limits?

Market.com has a minimum deposit limit of $100. However, it doesn’t specify any withdrawal limits and thus you can withdraw as much as you have in your Markets.com account. Its withdrawals are straightforward as all you have to do is to submit a withdrawal request. Remember, you will get your payment through the same method you used to deposit.

Summary of Markets.com CFD trading

Markets.com is a good choice if you are looking to solely concentrate on CFD trading. It is an attractive platform for new users as it provides both education tools as well as an intuitive demo service. Experienced traders might not like the decreased functionality on the mobile platform, but the availability of MetaTrader platforms (MT4 or MT5), as well as a multitude of trading instruments on the web-based platform is a huge plus.

Markets.com is also transparent to its users regarding fees. It also offers negative balance protection, and this comes in handy when trading with leverage as it helps reduce the chances of incurring massive losses by not allowing customers to go into a negative balance.

This broker is a solid option for trading crypto with CFDs. It’s an award winning service when it comes to Forex trading, and offers the ability to trade a decent number of cryptocurrencies, although at very limited leverage. If you are new to CFD trading, then we recommend starting out by setting up a demo account to get used to the process.

General

Extra Markets.com Features

Smart Economic Calendar

This is a revolutionary trading tool located under the trading tools drop-down menu. This tool comes in handy when looking to understand how affected currency pairs reacted to a given event when the results of the event underperform or outperform analyst consensus.

Education

Markets.com offers education to its users, both new and seasoned. Right on the homepage, you will find the education tab under the trading tools. Here you will find learning materials, both in pdf form and videos. There are also regular live webinars where you get the chance to interact with and learn from experts in the industry.

News Feed

The platform has integrated a newsfeed where you get all the pertinent news regarding trading in your specific instrument from markets around the world. This helps you not only keep up with the market trends, but also offers you more insight into the world of cryptocurrencies.

Conclusion

Markets.com no doubt stands out as a reliable and solid broker in the context of CFD trading. The platform’s website is highly informative, with an education centre, news feeds and live webinars.

The platform is beginner friendly, thanks to its low minimum deposit of $100. You have the attention of their support team 24/5 (there’s no customer support at weekends). The fact that you can enjoy both the web-based and mobile platforms gives you the convenience to trade, or follow positions on the go. Finally, being a subsidiary of Playtech and well regulated, Markets.com is a reliable brand to trust with your CFD trades.

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