Markets.com review 2022 South Africa: Markets.com is one of the leading online trading companies that handle forex and CFD exchange. The company was initially founded in 2008 as GFC markets. Markets.com which is a trademark used by SafeCap Investments Ltd is owned by Playtech, a publicly listed company on the London Stock Exchange.
Markets.com is licensed to operate as an online brokerage firm in 2 main regions, Europe and South Africa. Markets.com is regulatory service that was authorized for forex by Financial Services Provider under license no 43906 and Cyprus Securities and Exchange Commission under license no 092/08 in 2008. The broker also offers trading services and customer support in various languages.
Types of accounts offered by Markets.com South Africa
Markets.com offers three types of trading accounts. They have demo account, Islamic account and the real account where you trade with real money. To open a real account, you need to put a minimum deposit of $100 which is about R1 000 here in South Africa.
With markets.com, you can trade with a maximum leverage of 1:300 using any type of account mentioned above. The good thing about these accounts is that they come with daily market analysis, seminars, webinars and 24 hours customer support. With real account, you also get the opportunity to have an account manager who will handle your account. The demo account is designed for forex trading beginners to practice how forex trading works before they start trading with real money. This type of account comes with unlimited time.
Types of trading services offered by Markets.com
This broker trades different asset classes. You can trade with contract for differences (CFDs), commodities, forex, stocks, cryptocurrencies, and indices. You can also trade more than 2 000 types of financial instruments with Markets.com broker.
Markets.com trading platform and apps
Markets.com offers various types of trading platforms for both desktop and mobile trading. a proprietary web-based platform called the Markets WebTrader, Markets Mobile, MT5 and MT4 upon request.
The Markets.com WebTrader is a trading platform which does not require any download. This user-friendly trading platform is available on the internent. The platform also comes with features such as technical indicators where you can see trading charts.
Meta Trader4 (MT4)
The trading platform has become increasingly popular among forex traders. The user-friendly platform can be easily customized for forex trading beginners. The platform also comes with advanced analytic tools and other interesting features widely used by traders.
MetaTrader 5 (MT5)
The MT5 platform is the most popular online trading platform in the forex industry. Majority of the brokers in South Africa use this popular trading platform. MT5 platform comes with a wide variety of tools and it can support automated trading.
Markets.com Mobile Trading
Markets.com mobile trading platform or app is designed for traders who are always on the move. This mobile trading app allows them to trade anytime and anywhere in the world. This trading app can be downloaded from Apple Store or Google Play store.
Payment and withdrawals
Markets.com has multiple methods of payment and withdrawals of funds. Payment and withdrawal methods include credit/debit cards, Skrill, Neteller, and bank transfer. Additional funding methods include Giropay, Sofort, Ideal, eKonto, BankLink, Fast Bank Transfers and many more. Withdrawal of funds takes a day but for international funds, it can take up to eight working days.
Pros / Cons
- Low minimum deposit requirement
- Multiple types of trading platforms
- The broker is regulated in South Africa
- You can trade over 2 000 different types of instruments
- ECN trading not available
- Lack of telephone support
Markets.com is one of the most popular forex brokers in South Africa. It is well-trusted and reliable. It offers 24 hours customer support (24 hours a day, 5 days a week through email and live chat) in different languages. The broker is regulated b CySEC, ASIC and the FSCA. This assures you that your money is in safe hands.