Markets.com offers investors access to forex trading in addition to a wide range of CFDs including shares, currencies, commodities, indices, ETFs, blends, cryptos, (crypto CFDs are not offered to retail clients in the UK), and even some bonds which can be efficiently traded from a choice of three platforms.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.
Markets.com have presented a clean, easy-to-use multi asset trading platform which is primarily designed for trading CFDs and forex. In addition to their own proprietary platform, Markets.com also supports MetaTrader 4 and 5, that provide access to a wide range of tradable assets on desktop, web and mobile.
Here in the UK, they are regulated by the Financial Conduct Authority, where they have also picked up some fairly impressive awards including Best Forex Trading Platform and Best Forex Provider at the 2017 UK Forex Awards.
- Very easy and quick to open an account
- Good education and research tools
- Commission-free trades
- Wide spreads on Forex
- Lack of in-depth trading tools
Who are Markets.com?
Markets.com come under the parent company Playtech which has been listed on the London Stock Exchange since 2012 and is part of the FTSE 250 Index.
They offer a trading platform that provides access to the foreign exchange market, commodity market, cryptocurrency market, stock markets, blends, ETFs, and bonds via Contracts for Difference to clients from across the globe.
Who owns Markets.com?
Markets.com are owned by Finalto Group, the finance division of Playtech. Their parent company is Safecap Investments Limited.
Markets.com product range overview
Markets.com are a forex and CFD broker and they do not provide access to additional asset classes and financial instruments such as options.
Contracts for Difference (CFDs) are a contract between a buyer and a seller whereby the buyer pays the seller the difference in price between the current value of an asset and the value at the time of the contract.
This provides scope to profit from fluctuations in price, without ever owning the underlying asset. Whilst there are potential profits to be made, trading CFDs is considered high risk.
At Markets.com, traders can access an extensive list of CFDs which includes 1978 shares, 56 currencies, 23 commodities, 32 indices, 77 ETFs, 4 bonds, 27 cryptos and 12 blends.
Whilst the spreads do vary depending on the time of day, they are generally low when compared to the industry standard.
Spread betting provides the opportunity to trade on the rise and fall of the markets in a tax-free way. At Markets.com, spread betting is available across forex, currencies, commodities, and stocks.
It should be noted that spread betting is only available to clients that reside in the UK.
Also consider: Best Spread Betting Platforms
It’s worth taking note of the stock blends offered at Markets.com, which allow traders to engage with themed stock collections. These include
Gurus: Blends that mirror the portfolios of some of the biggest fund managers in the world, allowing you to take advantage of their expertise.
Sectors: Trade in a market sector including Oil and Petroleum, Cannabis, US Tech, eCommerce, and UK Retail.
Events: Trade on political events that move the markets including the UK-China trade war.
Strategy: Follow the Dogs of the Dow Blend for a managed investment strategy.
These blends contain a well balanced choice of trading instruments and represent an easy way to engage with stocks.
Markets.com customer service review
Customer service is available 24/5 via phone, email, online query form or live chat. When I tested the live chat customer service whilst conducting my Markets.com review, they responded immediately with zero wait times and good, knowledgeable replies to my queries.
Customer service at Markets.com can only be rated as excellent. There is the drawback that there is no support offered at weekends, however, having a 24-hour service that is immediate, more than makes up for this. The Live Chat window is available via the platform or via the website.
Markets.com opening an account
Markets.com offer an excellent account opening process for UK residents. Everything is fully digital and you can be up and trading within a day.
There is one main account type at Markets.com, the standard account.
There is also a professional account available.
Account opening at Markets.com is as streamlined as you can hope for. There is one account to choose from, the standard account.
To open your account you simply need to follow these steps:
- Click ‘Register’ on the Markets.com website
- Enter all your personal information
- Complete the test to ascertain your level of trading knowledge
- Verify your identity
Verification can be completed by supplying identification that contains a photo, full name, date of birth, and expiration date. This can be photographed and uploaded via the Verification Centre in your portal.
In addition, you will be required to provide proof of residence. This can come in the form of a utility bill containing your name and address from the last 3 months, a bank statement, internet bill, landline phone bill, or TV service bill.
Markets.com have a good range of educational materials including webinars, an ebook containing the A-Z of trading, and tutorial videos.
I felt that Markets.com had covered most aspects of education with their robust offering. Retail traders can access a good selection of educational materials including tutorial videos, webinars, and a trading glossary. If you would like to get a taste for what’s on offer before you open an account, you can head to their YouTube channel where you will find tutorial videos, video clips with trading tips, and videos covering specific topics in the world of financial markets.
Markets.com is considered a very safe place to trade, with top-tier regulation, negative balance protection, and a parent company which is listed on the London Stock Exchange.
In addition to being regulated by the Financial Conduct Authority (FCA), Markets.com also enjoys regulation by several other authorities including the Australian Securities and Investments Commission (ASIC) in Australia, the Cyprus Securities and Exchange Commission (CySEC) in Europe, the Financial Sector Conduct Authority (FSCA) in South Africa and the BVI Financial Services Commission (FSC) in the rest of the world.
Markets.com also offer investor protection to UK clients for up to £85,000 via their parent company, Finalto Trading Ltd. In addition, all client funds are kept in segregated bank accounts. Similarly, the ICF (Investor Compensation Fund) may cover up to €20,000 for clients trading under the CySEC (EU) license.
Markets.com also offer negative balance protection on their trading platform meaning you can’t lose more money than you have in your account. This is particularly useful when trading CFDs as stock market volatility can lead to substantial losses that can exceed your original stake.
Markets.com trading platform
At Markets.com, traders can access their services via the web trading platform, mobile trading platform, or desktop trading platform. In addition to their own proprietary platform, they also offer MetaTrader 4 and 5 although you will pay slightly more for these options.
Web trading platform
I was impressed with the web trading platform at Markets.com, it was easy to use and came with a host of reliable tools such as price alerts and search functions.
The design of the web platform was clear and concise and easy to navigate, however, for traders who like to customise their preferences, this isn’t available at Markets.com.
There are basic order types available on the web platform such as market, limit and stop orders, however, more advanced traders may miss some of the more sophisticated order modes. In terms of alerts and notifications, Markets.com traders will enjoy email and SMS notifications in addition to price alerts. There are also a number of helpful portfolio reports available.
Mobile trading platform
Markets.com is also available using a mobile app for traders who like to conduct trades on the go. Again, they did not disappoint with the design which I found very user-friendly and easy to navigate.
Sadly they have only provided a one-step login for the mobile trading platforms which isn’t quite as secure as two-step authentication and there was no biometric authentication available.
Search functions and order types are all very in keeping with the web platform and there are still a good range of alerts available via email or as a web push notification.
Desktop trading platform
This is only available via MetaTrader which means there is only forex and CFD trading available. Unlike the proprietary platform, it is fully customisable however, MetaTrader could do with an update to the look and feel of the platform.
The desktop experience brings reasonable search functions although, unlike the other application, this wasn’t available by typing in an asset’s name. The basic order types are all available including market, limit, stop and trailing stop in addition to Good ‘til cancelled and Good ‘til time.
Alerts can be sent via email, mobile push, or notifications on the platform and there are clear portfolio and fee reports which showcase information such as your profit-loss balance and commissions paid to date.
Expect great research tools when trading with Markets.com including charting, recommendations, fundamental data, technical analysis and news.
Markets.com have a good selection of research tools available for retail traders. Their trading ideas include recommendations from analysts, advice from bloggers, Insider Trading Sentiment, and Hedge Fund Sentiment to help guide retail clients with their decisions.
There is also fundamental data available however, there is a notable lack of fundamentals like financial ratios or past financial reports. There are also 81 technical indicators and some decent charting tools as well as a decent news feed with relevant information for each asset.
Markets.com deposit and withdrawal
Markets.com offer a variety of deposit and withdrawal options on their trading platforms in 11 base currencies.
There are over 4 base currencies offered at Market.com is a great selection and would mean that when funding your account, you would avoid paying a conversion fee.
In terms of deposits, Markets.com accepts the following payment method for funding your account:
- Wire transfer
- Credit/debit card
- Local bank transfer
Bank transfers usually take several days to appear in your Markets.com account, however for instant deposits, you can use a debit or credit card. The minimum deposit is £100.
Withdrawals can be executed back to the same method you used to deposit into your account. Withdrawals are all free of charge and completed within 1 and 7 business days depending on the withdrawal method used.
The minimum withdrawal amount for credit/debit cards and PayPal is at £10, wire transfer at £100 and E-wallets at £5.
Whilst Markets.com do not charge account fees, deposit fees, or withdrawal fees, they still come in as a high-cost broker due to the above-average forex fees and inactivity fee. CFD fees are average within the industry.
Markets.com trading fees
As mentioned, the trading fees at Markets.com range from average to high depending on what you are trading.
For trading CFDs, the fees are average however, forex fees are high with spreads changing from being fixed to variable on forex pairs.
It is also worth noting that spreads are tighter on the Markets.com proprietary trading platform than they are on MT4 and MT5.
Markets.com non-trading costs
The only non-trading fee that I could find was the inactivity fee of £10 per month after 3 months of inactivity. Otherwise, there is no account fee, deposit fee or withdrawal fee to be concerned with.
Who is Markets.com suitable for?
Markets.com is well placed for CFD traders, with fair fees, good education resource, and an easy-to-use interface with excellent tools. However, forex traders could get a more cost-effective service elsewhere as some of the spreads are high.
Alternatives to Markets.com
My top picks for alternatives to Markets.com would be
IG – for their excellent range of CFD trading accounts, low trading fees, tight spreads and good market analysis.
eToro – for their excellent copy-trading facilities, good selection of trading tools, and low-cost trading.
Interactive Brokers – for their huge range of tradable assets, very low cost for high volume and professional traders and access to 125 markets.
This section contains useful information to make your experience at Markets.com as seamless as possible.
How do I contact Markets.com?
Whilst conducting my Markets.com review, I found the best method for initiating contact was via their live chat window, available on both the platform and from their website www.markets.com. This got an immediate response, regardless of the time of day.
Alternatively, they can be contacted by phone on (+) 44 203 150 0380 and via email through [email protected].
How do I withdraw money from my Markets.com account?
Withdrawals will usually take around 1 business day which is very quick. In order to initiate a withdrawal simply follow these steps:
- Log in to your Markets.com account
- Select ‘Withdrawal’ from the main menu
- Select the withdrawal method and bank account you would like the money sent to from the options provided
- Enter the amount you would like to withdraw
- Submit your withdrawal request
All withdrawals come free of charge.
Is Markets.com a good company?
Yes, there is a lot to commend this trading platform for, especially for CFD traders who are looking for a decent level of education from their chosen platform. However, at the time of this Markets.com review, the high spreads on forex could make alternative brokers a more competitive option.