Markets.com is a renowned CFD broker that initially launched in 2010 as GFC Markets and is regulated in Cyprus and South Africa. In 2016, Playtech, a gambling software development company publicly listed in the London Stock exchange (LSE) acquired Markets.com. It specialises in web-based trading services, and offers a user-friendly mobile platform for trading on the move.
With its strong financial background courtesy of its parent company Playtech, the company has taken significant steps towards becoming one of the best CFD brokers around. Markets.com have also accumulated a large number of respected partners, such as Arsenal Football Club.
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 on Markets.com, such as forex, commodities, stocks, and indices.
CFDs 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 an exchange.
You can choose from several deposit and withdrawal methods on Markets.com. 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 account.
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.
You can make deposits with Visa, Delta, or Mastercard. Deposits made through this method will usually arrive instantly on your 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.
You can deposit and withdraw from your 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.
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:
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 of Markets.com 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.
Markets.com operates in over 40 countries. It supports most European countries, including the United Kingdom. Here is a list of the supported countries:
Markets.com is authorized to operate in two main regions; Europe and South Africa. For countries inside the European Economic Zone, Markets.com is under the regulation of the Cyprus Security Exchange Commission (CySEC) through the Cyprus Investment Firm (CIF). In case the company goes under, the CySEC promises to compensate you up to €20,000 if you operate within the EU. On the other hand, the company’s South African operations are under the regulation of the South African Financial Services Board (FSB).
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:
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.
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 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’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.
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:
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 only charges premium fees that you will be charged in the form of overnight fees while trading with CFDs. This is exactly what it sounds like, you will be charged a fee if you want to hold a position overnight. Markets.com does not charge any withdrawal or non-activity fees, which separates itself from other CFD trading platforms.
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. Markets.com has not specified the minimum spreads with regards to cryptocurrency but you can always contact their support team for more details.
Yes, but not with very much. Leverage on crypto trading is limited to 1:2 on Markets.com. 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.
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.
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.
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 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.
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.
Markets.com 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.
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.
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.
Markets.com 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.
Markets.com no doubt stands out as a reliable and solid broker in the context of CFD trading. Its competitive leverages and low minimum spreads make it ideal to work with. Additionally, 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.
Decided to register a Markets.com account? Great, here’s how it’s done: