If you want to invest your money in the foreign exchange markets than there are no shortage of options here in the United Kingdom. Many of these are regulated outside of the country, as is so often the case, but all are usually regulated within the EU, with countries like Cyprus being the most popular in that regards.
In this article we’ll take a look at one of the biggest players in the Forex markets in the UK. Markets.com has been around for a few years and is backed by the biggest EU-based company in this industry, one that has its hand in several Forex and binary options platforms, among others.
Who Are Markets.com?
Markets.com is often considered to be one of the younger breed of Forex sites, but this company has been going for over ten years now. It was founded back in 2003 as the brainchild of a team of software engineers, traders and businessmen. This was the perfect combination for a Forex platform, as they brought everything that was needed to the table, along with decades’ worth of combined experience. Of course, that isn’t all you need to succeed in this industry — or any other for that matter — but in the case ofMarkets.com they got off to a very good start and made an immediate impact on the financial world.
This brought them to the attention of SafeCap Investments in 2010, a company that owns other financial and investment platforms, including one of Europe’s biggest binary options platforms, Top Option. SafeCap Investments did their most to add Markets.com to their portfolio and were able to do just that.
Is Markets.com Available in the US?
Simply put, no it is not, but it used to be. This has caused some confusion with US traders who believe that Markets.com is still available to them. They stopped allowing US customers to join as soon as they became a part of Safecap Investments, and from then on they have focused on a smaller market, but have grown their numbers by becoming one of the biggest companies in that market.
Is Markets.com Available in the UK?
Markets.com is available in the UK and other countries, including Netherlands, Hungary and France, where it is also very popular. Running such a platform is not as straightforward as an overseas gambling operation and there are a lot of hops to jump through, which makes it difficult for the companies involved. If you are not based in one of these countries, you are advised to check on theMarkets.com site to see if you can join.
Now that we have the basics out of the way, we can focus on the actual review. We’re happy to say from the outset that we really enjoyed our time on this site. We joined a few months ago and continue to use it to this day. We have used many other Forex platforms before and since, but we’ll probably always go back to Markets.com regardless of where we end up.
The first thing you will notice on Markets.com is that there is no software to download. It is all web-based. This will benefit the majority of players and will also benefit those who run operating systems that usually aren’t compatible with many downloadable software. Providing you run one of the most popular web browsers then you’re good to go. The platform itself ran very smoothly and without lag or issue. Many web-based software applications can be slow, but only because they are often a second-thought, an addition to a downloadable software and one that the company don’t expect to be used much. In the case of Markets.com, they are obviously used to running their platform via this method and are more than well prepared for it.
Markets.com are regulated in Cyprus by CySEC, the same company that overseas the Cyprus Stock Exchange. If they ever put a foot wrong, many people would know about it and they would suffer.
Markets.com Deposits and Withdrawals
There is a minimum deposit of $100 on Markets.com, which is as small as you will get when it comes to Forex. There are one or two sites that have lower minimum deposits, but usually they are not worth your time, or are too gimmicky. eToro is like this, and it’s simply not what a professional trader or an aspiring trader needs.
Markets.com accepts PayPal, which will be a relief to many, and this can be used for deposits and withdraws. This is also our preferred method and as well as being easier to use, payments also tend to move a lot quicker when you use PayPal. The only issue here is that you will need to pay a small fee — about 3% — in order to cover PayPal costs. Some of the other methods also have fees attached to them, but only if those fees have to be paid by Markets.com when they process your transactions.
Skrill, formally known as Moneybookers, is also accepted and comes with a fee as well, one that is marginally less than PayPal. You can also use credit cards, debit cards and more.
So what is all the fuss about? Well, Markets.com just makes things much easier. We’ve already discussed some of the methods by which it does this, but others include an array of features on the platform itself. This makes it much easier to quickly buy and sell, and there are also options for automation so that you don’t need to stay at the computer 24 hours a day, but can still trade around the clock. Just program the features to perform certain tasks at certain points, and away you go. With One-Touch features, you can also react instantly to news that affects the markets, which is how the best traders in the world make their money.
It doesn’t take much to get a platform right. Many of them have a similar layout and features, but the trick is to find a one that suits you and one that has all of those features, along with an abundance of banking options and the best customer support around. Markets.com nails this, and that is why this is currently our Forex platform of choice, and will remain so for some time.
It’s going to take a lot to topple Markets.com in our eyes, and if you have yet to test this for yourself, then you’re missing out.