Markets.com was founded in 2008 under the name GFC Markets. Two years later, the brokerage was rebranded to its current name following a merger between its owner, Safecap Investments Limited, and TradeFX. This led to significant changes for the brokerage as it sold its binary options platform.
At the time of writing this review, the Markets.com mobile trading app offers over 2,000 assets and four trading platforms. Investors will be interested to know that the brokerage utilises MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
In addition, mobile traders can enjoy an outstanding experience even on the go thanks to the brokerage’s dedicated apps designed for both iOS and Android users. If you are a non-English speaker, you should know that the Markets.com mobile trading app is available in several other languages, including Danish, French, Dutch, German, Italian, and several others.
| General Information about Markets.com | |
|---|---|
| Min. Deposit | $100 |
| Supported Languages | N/A |
| Supported Currencies | CZK, DKK, EUR, GBP, NOK, PLN, SEK, USD |
| Website | https://www.markets.com/ |
| Phone Number | +12845680155 |
| Support Email | support@markets.com |
| Headquarters Address | Boundary Place, 18 Rivonia Rd, Sandhurst, Johannesburg, 2196, South Africa |
Account types
Markets.com caters to investors of various skill levels and preferences by providing the opportunity to choose from several account types, including demo, retail, professional, and swap-free (Islamic).
When you decide to set up an account via the Markets.com mobile platform, you can start with a demo account and switch to a retail account any time you are ready to invest real money. Once you refine your skills, you may consider using a professional account. Muslim investors can apply for a swap-free account that complies with Sharia law.
| Market | Leverage |
|---|---|
| Metals CFDs | 1:200 (CySEC | Pro Account) |
| Metals CFDs | 1:20 (CySEC | Retail Account) |
| Metals CFDs | 1:200 (FSCA) |
| Bonds CFDs | 1:100 (CySEC | Pro Account) |
| Bonds CFDs | 1:5 (CySEC | Retail Account) |
| Bonds CFDs | 1:100 (FSCA) |
| Commodities CFDs | 1:100 (CySEC | Pro Account) |
| Commodities CFDs | 1:10 (CySEC | Retail Account) |
| Commodities CFDs | 1:100 (FSCA) |
| Crypto CFDs | 1:5 (CySEC | Pro Account) |
| Crypto CFDs | 1:2 (CySEC | Retail Account) |
| Crypto CFDs | 1:200 (FSCA) |
| ETF CFDs | 1:100 (CySEC | Pro Account) |
| ETF CFDs | 1:5 (CySEC | Retail Account) |
| ETF CFDs | 1:10 (FSCA) |
| Forex CFDs | 1:294 (CySEC | Pro Account) |
| Forex CFDs | 1:30 (CySEC | Retail Account) |
| Forex CFDs | 1:300 (FSCA) |
| Indices CFDs | 1:200 (CySEC | Pro Account) |
| Indices CFDs | 1:20 (CySEC | Retail Account) |
| Indices CFDs | 1:200 (FSCA) |
| Share CFDs | 1:10 (CySEC | Pro Account) |
| Share CFDs | 1:5 (CySEC | Standard Account) |
| Share CFDs | 1:10 (FSCA) |
Demo accounts at Markets.com mobile trading app
Demo accounts are designed for investors who would like to improve their knowledge without putting their money at risk. Markets.com will fund your account with virtual funds, enabling you to trade with $10,000.
Furthermore, the demo accounts can be extended, and investors can use them for an unlimited period. If your balance is in the red, you can contact the friendly customer support team via the live chat facility and request additional funds to be added immediately.
Demo account holders will have access to a plethora of instruments that can be traded under real-time market conditions. Moreover, you can test various trading strategies and choose the one that best suits your goals.
Retail accounts at Markets.com mobile trading app
If you feel ready to start trading with real money, you can opt for a real account. Generally speaking, it works in the same way as the demo account. Investors need to make a minimum deposit of $250 to start trading with real funds. The margin level is 50%. In addition, investors can benefit from various tools – specifically stop-loss and take-profit orders – to protect themselves against significant losses.
The Markets.com mobile trading app also features educational tools that can greatly enhance your trading experience. Among other resources, mobile investors will find analyst recommendations that guide them on market trends. The retail account provides access to more than 2,000 tradable assets. Leverage is flexible, depending on the regulator under which you register. For non-EU residents, Markets.com offers leverage of up to 1:300, while EU clients can access leverage of up to 1:30 in line with the latest ESMA regulations.
Professional accounts at Markets.com mobile trading app
Professional accounts are designed for clients who are familiar with the ins and outs of trading. What is exceptional about these accounts is that they offer higher leverage. Traders should keep in mind that the higher the leverage, the greater the risk. To qualify for a professional account, you must provide a portfolio showing that you have invested over $500,000 to date through various trading instruments.
It is important to note that professional account holders are not affected by the European Securities and Markets Authority’s (ESMA) regulations. This means that both EU and non-EU residents can access the same maximum leverage. The minimum deposit to start using a professional account is $250.
Swap-free accounts at Markets.com mobile trading app
Islamic trading accounts are tailored to Muslim traders. These accounts are also known as swap-free. To make this clearer, we would like to explain what a swap is. In essence, a swap is a fee imposed for leaving open positions on the Forex market overnight. It can be interpreted as a charge collected by the broker for that service.
According to Sharia law, Muslims should not participate in financial transactions that involve the accumulation of interest. Hence, a considerable number of brokers, including Markets.com, have removed swaps for their Islamic finance investors. It is important to note that the Islamic account is very similar to the regular retail account, with the only difference being that the former does not incur swap fees.
Trading Instruments
Markets.com mobile trading app has a remarkable portfolio as it offers various trading instruments. Trading shares, indices, bonds, blends, currency, cryptocurrency, and ETFs are all included in the broker’s catalog of available instruments. Clients can also take advantage of the so-called Contract for Differences (CDFs) that allows European investors to speculate on the price movement of an asset without owning the asset. It is extremely important to understand that CDFs are complex tools that you need to use carefully. According to statistics, 73.9% of retail account holders lose money when trading CDFs with this broker. What is more, investors should bear in mind that the minimum trade is set at 0.01 lots.FX & Crypto
Mobile traders can choose from 67 currency pairs in total. Markets.com offers major, minor, and exotic pairs, including EUR/USD, USD/JPY, GBP/AUD, EUR/CHF, AUD/CAD, etc. The leverage for EU residents is set at 1:30 for major currency pairs and 1:20 for non-major pairs.
If you are interested in trading cryptocurrencies, you should know that the Markets.com mobile platform features six options: Bitcoin Futures, Ethereum, Bitcoin Cash, Dash, Litecoin, and Ripple. Retail account holders who are EU residents should keep in mind that they can benefit from leverage of 1:2 when trading cryptocurrencies.
Shares and Indices
Undoubtedly, Markets.com offers a great variety to mobile investors who prefer trading shares. The platform provides access to more than 2,000 instruments, including Germany 30, USA 500, VIX, Australia 200, Hong Kong 45, and more. Investors can also trade shares via CFDs, adding extra excitement to their experience. However, this approach is quite risky, so we recommend it only to seasoned traders.
If you are interested in trading indices on the go, the Markets.com mobile platform offers more than 40 cash and futures indices that can be traded through CFDs. The leverage for EU residents holding a retail account is set at 1:20 for major indices and 1:10 for non-major equity indices. If you are a resident of the UK, you can open a spread-betting account to trade indices.
Commodity
Markets.com offers more than 20 commodities, covering both soft and hard categories. If trading soft commodities is up your alley, you will find assets such as cocoa, coffee, corn, cotton, rice, soybeans, sugar, and wheat. As for hard commodities, the platform provides various options, including gold, silver, copper, crude oil, and Brent oil. Commodities other than gold are offered with leverage of 1:10 for retail accounts, while gold is available with leverage of 1:20 for EU residents.
Bonds and Blends
The Markets.com mobile trading app offers several bond-trading options. Although bond trading may not be as profitable as trading other instruments, it provides several advantages, with protection foremost. If you want to expand your trading portfolio, consider trading blends. Blend funds are essentially hybrid funds. The broker offers various blends, including the Cannabis Blend, Buffett Blend, and Brexit Losers Blend, among others.
Exchange-Traded Funds
Investors who trade exchange-traded funds (ETFs) should know that they will not be left empty-handed at Markets.com, as the mobile trading platform offers more than 50 ETF assets from markets around the world. These instruments allow you to buy or sell a diversified basket of securities in a single transaction. Therefore, ETFs are often considered passive investments because the aim is to track – rather than outperform – the market.
| Trading Information | |
|---|---|
| Trading Platforms | MetaTrader 4, MetaTrader 5, Proprietary Web, TradingView |
| Demo Account | |
| Hedging | |
| Scalping | |
| US Traders | |
| Arabic Traders | |
Fees and spreads
When it comes to choosing a mobile trading platform, one of the first things investors consider is the spreads and fees. We must admit that Markets.com’s fees are not particularly modest, but the broker is certainly worth its salt. Needless to say, spreads vary across the different instruments.
Spreads for currency pairs start from 1.10 pips for USD/INR and climb to 250 pips for EUR/RON. Trading indices comes with spreads ranging from $0.05 to $22.50. As for trading commodities, spreads start from $0.0055 and reach $10. Most bonds have spreads of $0.06, except for the US T-Bond 30Y, which features spreads of $0.07.
If you wish to trade shares, you will face spreads that start from $0.01 and go up to $1.61. Spreads for trading ETFs range from $0.0300 to $0.35. Those associated with trading blends range between $0.07 and $0.67. Trading cryptocurrencies via the Markets.com mobile platform will cost you between $0.0100 and $50.00 in spreads.
On the bright side, the broker does not impose many additional fees or taxes, as these are included in the spreads. Some of the extra charges you may encounter include a tax for holding positions overnight, an inactivity fee, and a slippage tax.
Banking
In their struggle to attract new investors, brokers go above and beyond to satisfy their clients’ preferences. For that reason, Markets.com provides its mobile traders with various hassle-free and prompt payment solutions, including bank cards, bank transfers, e-wallets, and online banking. Moreover, traders from international markets are also well catered for, as the trading app accepts payments in several currencies, namely DKK, AUD, SEK, USD, GBP, EUR, NOK, ZAR, and PLN.
| Brand | Minimum | Fees | Processing Time |
| $250 | No Fees | Instantly | |
| $250 | No Fees | Instantly | |
| $250 | No Fees | Instantly | |
| $250 | No Fees | Instantly | |
| $250 | No Fees | Instantly | |
| $250 | No Fees | Instantly |
| Brand | Minimum | Fees | Processing Time |
| $10 | No Fees | Up to 7 business days | |
| $10 | No Fees | Up to 7 business days | |
| $100 | No Fees | Up to 5 business days | |
| $10 | No Fees | Instantly | |
| $5 | No Fees | Instantly | |
| $5 | No Fees | Instantly |
Deposits
If you wish to start trading with real money, you need to make a minimum deposit of $250. To top up your account, you can use Visa, Mastercard, Skrill, Neteller, PayPal, iDEAL, Sofort, and bank wire transfer. It is important to note that some payment solutions are available only to residents of certain countries. For example, Skrill and Neteller serve the interests of UK residents, while PayPal, iDEAL, and Sofort are geared towards the European market.
Deposits are processed instantly and incur no additional fees. Making a deposit is extremely easy even on the go, as the platform is designed with mobile traders in mind. With just a few taps you can top up your trading account. In addition, the broker allows clients to transfer their deposits to the MT4/MT5 platform. To do so, traders need to tap on the ‘My Accounts’ button and select the ‘Funds transfer’ option from the pop-up window.
Withdrawals
One of the most attractive features of this mobile trading app is that it does not charge fees for withdrawing funds. If you want to withdraw your profits, you can do so via Skrill, Neteller, Visa, Mastercard, PayPal, or bank wire transfer.
Traders should keep in mind that they cannot withdraw less than $10 via any of the available bank cards or PayPal. The minimum amount you can withdraw via bank wire transfer is $100, while Skrill and Neteller have a minimum withdrawal of $5. The quickest way to receive your payment is to use any of the available digital wallets, as the withdrawal will be processed within 24 hours. Withdrawals via wire transfer might take up to 5 business days, while payments to bank cards can take up to 7 business days.
It is crucial to remember that the trading platform approves withdrawals only to accounts that bear your name. In addition, the broker approves payments within 24 hours. Interestingly, there are no cash-out limits, which means you can withdraw as much as you like from your earnings.
Regulation
Markets.com takes pride in a reputation that has remained untarnished over years of experience. The mobile trading app has received approval from several regulators to provide its trading services to investors from various countries. The broker holds licences issued by the Cyprus Securities and Exchange Commission (CySEC, responsible for the EU market), the Financial Supervision Commission (FSC, overseeing the global market), the Financial Conduct Authority (FCA, in charge of the UK market), the Australian Securities and Investments Commission (ASIC, responsible for the Australian trading market), and the Financial Sector Conduct Authority (FSCA, overseeing the South African market).
| Regulator | Licence |
|---|---|
| CySEC | 092/08 |
| FSCA | 46860 |
FAQ
1. How can I contact the customer support department?
2. Is it safe to trade via the mobile platform of Markets.com?
3. What is the maximum leverage Markets.com mobile trading app offers?
4. Where can I find the apps for iOs and Android?
5. What can I trade with Markets.com mobile app?
Conclusion
Markets.com is an experienced mobile trading app with the potential to meet the expectations of even the most demanding traders. The broker offers a plethora of assets and trading instruments to keep you engaged for the long term. In addition, this mobile trading app is among the most reputable on the market. Moreover, the mobile version of Markets.com features an easy-to-navigate interface, ensuring a remarkable and hassle-free trading experience.
