Markets.online

Established in 2017, Markets.Online is one of the many online brokers offering the best of trading services to both the professional and the amateur traders. Markets.online allows traders to trade in both forex and CFDs.


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Regulation

If you are going to trade in real money through online forex brokers, then you need to make sure that you will not lose your funds. For this to happen, the broker must be regulated by a reliable licensing or registration company. Markets.online looks like one of the online brokers you can trust given its recent licensing and regulation by the Financial Services Authority, FSA. The licensing makes this broker a full-service security dealer.

The FSA regulations require that all the brokers with their license adhere to strict standards of services delivery and professional propriety. Being an FSA-regulated broker, Markets.online protects the funds of all traders on the platform by monitoring transactions and keeping clients’ funds in segregated funds, for protection. The broker also limits your risk of loss thanks to its policies against money laundering. The broker keeps contact documentation of activities on its platform while running regular assessments of everything taking place on the platform.

Account types and Trading Conditions

Markets.Online offers three types of trading accounts: the starter, Average, and Master Accounts. These accounts all feature maximum leverage of 1:300 but the minimum deposit requirement differs. The minimum deposit for the Starter account is $250, $1,000 for the Average account, and $5,000 for the Master Account.

The leverage of 1:300 is quite generous.  While the demo account gives you leverage of 1:100, the high 1:300 leverage risk means that you have a high risk and you have to implement the best strategy to avoid losses.

The spread offered by the broker is 2 pips for the Starter Account. This spread is floating. For the other account types, the spread is not applicable.

Each of these trading accounts has a minimum trading volume of 1000 currency units (base). You might also like this broker because all these trading accounts come with a swap-free option.  The swap-free option is for an Islamic account which does not accrue any interests if you leave your positions open overnight.

Trading platform

Unlike the top-rated forex and CFD brokers, Markets.online does not use the MetaTrader 4 platform, and this, unfortunately, lowers the credibility of the trader significantly. This broker offers trading in a trade room which you have to sign up to access. This web-based trading platform is user-friendly has a wide array of market indicators, and it also gives a live news stream. This platform does not have an automated trading option, and it also lacks the function that allows the compilation of your unique market indicators or the automated trading bots. The brokerage firms that run on MT4 have bots running trades automatically thanks to the scripting language, MQL4.

CFDs/ Cryptocurrencies

This broker lets you trade in at least 30 currency pairs, including the exotic currencies like the Norwegian Krona, Danish Krona, Russian Rubla, Swedish Krona, the South African Rand, Chinese Yuan, and the Czech Krona, among others. You also get to trade CFDs on gold, silver, copper, oil, coffee, sugar and other commodities.

And there’s more: the trader allows trades in stocks, indices, the Vix Index and cryptocurrency.  Some of the traded cryptocurrencies include Ethereum, Dash, Litecoin, Bitcoin, Golem, Ripple, Monero, and ZCash.

Pros

  • Various trading assets in the portfolio
  • A reasonably generous leverage
  • Three types of trading accounts
  • FSA-regulated

Cons

  • The minimum deposit requirement is too high at $250 for the Starter account and $5000 for the Master account
  • The spread is not competitive at over 1.9 pips
  • The broker has unreasonable conditions for withdrawals where you cannot withdraw any amount below $100 with your credit card or your wallet. At the same time, the minimum amount you can withdraw via your bank wire is $500, after $500 in profits. The broker will also charge a $25 withdrawal for e-wallet/ card withdrawals and $50 for bank wire transfers. Card payments will also attract a processing fee of $10. These are unusual costs not seen with other brokers.
  • Trading takes place on the Markets.online trading platform rather than on MetaTrader 4. This platform lacks many trading functions and tools, and it is generally not the most reliable platform.
  • Few payment options: you can only use your credit or debit card or bank wire to deposit or withdraw funds.

Conclusion

While this broker claims to be FSA-registered, the website and the web-based trading platforms leave a lot to be desired. It is not reliable and the spreads offered are rather mediocre. Also, the fact that trading takes place on a platform other than MetaTrader 4 makes us lose faith in this broker. The other thing that turns traders off is the high minimum deposit requirement.


RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

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RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

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