Markets.com review: Unbiased Expert Analysis
This Markets.com review provides an in-depth look at the broker’s offerings, fees, platforms, and research capabilities, helping you make an informed decision.
Markets.com Investment Offerings
When comparing the MarketsX platform to the Markets.com Metatrader offering, MarketsX stands out due to its lower comparable spreads and a greater variety of tradeable instruments. This includes 57 forex pairs and 2,179 CFDs, making it a more versatile choice for many traders.
Markets.com Cryptocurrency Trading
Markets.com facilitates cryptocurrency trading through CFDs. It’s important to note that direct trading of the underlying asset (e.g., buying actual Bitcoin) is not available. Also, cryptocurrency CFDs are not accessible to retail traders from any broker’s UK entity, nor to UK residents, with exceptions for Professional clients.
- Forex Trading (Spot or CFDs): Yes
- Tradeable Symbols (Total): 2179
- Forex Pairs (Total): 57
- U.S. Stock Trading (Non CFD): No
- Int’l Stock Trading (Non CFD): No
- Social Trading / Copy Trading: Yes
- Cryptocurrency (Physical): No
- Cryptocurrency (CFD): Yes
Markets.com Fees and Spreads
Our assessment indicates that Markets.com’s trading costs are generally on the higher side, falling short of the competitiveness offered by industry leaders like CMC Markets and IG. This is a key aspect to consider in any Markets.com review.
MarketsX vs Markets.com Metatrader Spreads
Markets.com offers a premium account called MarketsX, which is available to traders depositing at least $250. This account features comparatively lower spreads than its standard offering, along with additional platform benefits. Spreads on the proprietary Web Trader platform are generally tighter than those on third-party platforms like MT4 and MT5, where the product range is also less extensive.
Markets.com has transitioned from fixed to variable spreads for its forex pairs, aligning with most multi-asset brokers. However, the minimum listed spreads remain comparably higher. A lack of published average spread data makes a direct comparison with other brokers challenging for this Markets.com review.
The firm advertises spreads as low as 1.9 pips on the EUR/USD and 3.0 pips on its MT4 offering. These figures are higher when compared to many other firms offering variable spreads. For a more comprehensive Markets.com review, we would appreciate the publication of average spread data for their new variable spread offering.
- Minimum Initial Deposit: $100
- Average Spread EUR/USD – Standard: 1.9 (as of Oct 2019)
- All-in Cost EUR/USD – Active: 1.9 (as of May 2019)
- Active Trader or VIP Discounts: Yes
- Execution: Agency Broker: No
- Execution: Market Maker: Yes
Markets.com Platforms and Tools
Markets.com provides its flagship trading platform, MarketsX, alongside the popular MetaTrader suite. This dual offering caters to a wide range of trading preferences and strategies.
MarketsX Charting and Usability
The MarketsX platform boasts nearly 90 indicators for technical analysis, exceeding the industry average. However, it offers only four drawing tools. The Web Trader platform prioritizes ease of use, providing a smooth user experience with features like pre-defined screeners and default module linking.
Markets.com Metatrader Options
Markets.com supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), catering to algorithmic traders. It’s worth noting that pricing on these platforms is generally higher compared to the proprietary MarketsX platform, and the product range is not as extensive.
- Virtual Trading (Demo): Yes
- Proprietary Platform: Yes
- Desktop Platform (Windows): Yes
- Web Platform: Yes
- Social Trading / Copy Trading: Yes
- MetaTrader 4 (MT4): Yes
- MetaTrader 5 (MT5): Yes
- DupliTrade: No
- ZuluTrade: No
- Charting – Indicators / Studies (Total): 89
- Charting – Drawing Tools (Total): 4
- Charting – Trade From Chart: No
- Watchlists – Total Fields: 6
Markets.com Research
Markets.com has a solid foundation for research offerings. However, there is still ample room for improvement to catch up with leading brokers in this area.
Verdict
This Markets.com review highlights a platform with a strong proprietary offering in MarketsX, particularly for its instrument variety and user experience. While the Markets.com fees, especially spreads, could be more competitive, the platform’s commitment to diverse trading tools and cryptocurrency CFD options makes it a viable choice for certain traders. Further transparency on average spreads would significantly enhance its appeal.
