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Markets.com Review
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Thanks to its web-based MarketsX platform, Markets.com is easy to use and new trader friendly. However, Markets.com is pricey and lacks the feature-rich trading tools required to compete with the best trading platforms.To get more news about Markets.com Pros and Cons, you can visit wikifx.com official website.
Top Takeaways
Here are our top findings on Markets.com:
Founded in 1999, Markets.com is a subsidiary of a UK publicly-listed company (LSE: PTEC). Markets.com is regulated in two tier-1 jurisdictions, making it a safe broker (low-risk) for forex and CFDs trading.
Markets.com's MarketsX platform is cleanly designed, easy to use, and includes a respectable offering of features, including integrated research, market analysis, webinars, and educational videos. That said, there is a lack of depth with trading tools to compete with platform leaders such as IG and Saxo Bank.
Spreads on forex pairs are wide (expensive) compared to pricing leaders such as CMC Markets and IG.
Offering of Investments
Overall, compared to the Markets.com Metatrader offering, the MarketsX platform offering would be my choice because of its lower comparable spreads and access to a more significant number of tradeable instruments (57 forex pairs and 2,179 CFDs).The following table summarizes the different investment products available to Markets.com clients.
Cryptocurrency: Cryptocurrency trading is available through CFDs, but not available through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's UK entity, nor to UK residents.
Commissions and Fees
Assessing Markets.com for trading costs is tricky. All in all, our bottom line assessment is that Markets.com is expensive and far from being competitive with industry leaders CMC Markets and IG.MarketsX: Markets.com offers a premium account called MarketsX for traders who deposit at least $250, where spreads are comparably lower than its primary account offering and with added platform benefits.
Variable spreads: In terms of trading costs, spreads at Markets.com changed from being fixed to variable on its forex pairs, bringing the broker in line with most multi-asset brokers that offer variable spreads. That said, the minimum listed spreads are still comparably higher, and I was unable to make an adequate comparison given the lack of average spread data published by the broker.
MetaTrader accounts: It's also worth noting that spreads are generally tighter on the company’s proprietary Web Trader platform, compared to its third-party trading platforms offered, including MT4 and MT5, where the product range is not as extensive.
Average spreads: The firm advertises spreads as low as 1.9 pips on the EUR/USD, and 3.0 pips on its MT4 offering, which are more expensive when compared to other firms with variable (floating) spreads. Summary aside, we would like to see Markets.com share average spread data for its new variable spread offering, to help make a level comparison with other brokers with variable spreads.
Platforms and Tools
Markets.com offers its flagship trading platform, MarketsX, as well as the full MetaTrader suite.MarketsX charting: In terms of charting in MarketsX, there are nearly 90 indicators available for technical analysis – which is more than the industry average. That said, only four drawing tools are available.
MarketsX usability: Web Trader is very easy to use. Throughout the platform, Markets.com has emphasized providing traders a smooth user experience. For example, alongside pre-defined screeners, module linking is enabled by default.
MetaTrader: Markets.com also offers MetaTrader4 (MT4) and MetaTrader5 (MT5) for algorithmic traders, although pricing is higher compared to its flagship platform.