MarketsX Broker Review – Broker’s Trade and Growth: MarketsX company found as a brokerage proprietor in the year 2008. They aim to offer world-class financial trading opportunities to every stratum of society. The brokerage website has the listing in the reputed FTSE250.
MarketsX Overview: The company is also a part of TradeTech Group, which is a subsidiary of Play-tech. But with the healthy competition growing across the globe in brokerage companies, traders find plenty of options. And to accommodate the requirements of investors, websites have to keep on updating features and modes of operation. Let’s see what MarketsX Broker holds.
Rebranding of MarketsX Broker Review
The company changed its strategy in 2019 and started a re-branding campaign. It is positioning itself as MarketsX Broker in the financial market from the Markets.com.
Markets X Regulating Authorities
The financial market trading company finds instructions on regulations from FCA, CySEC (Europe) and FSC (globally). Besides, ASIC regulates it in Australia and FSCA in South Africa.
The strict regulations and process of licensing authorize the company as a genuine one. Hence, concerns like MarketsX is a scam or legit, don’t find grounds. It enforces the trust of buyers, bidders and investors in a firm.
The matter of safety and security remains intact, and traders can invest their funds without a doubt of theft.
Transparency and Protection by MarketsX
As per the regulation by five different operating subsidiaries, the funds of clients and companies remain exclusive from each other. However, investors operating in the monitoring of CySEC are under the radar of the European Union’s Anti-Money Laundering Directives. It is the fourth one. Also, MiFID II, better known as Financial Instruments Directive (2014/65/EU) regulates money and transactions.
One of the directives Financial Instruments 2014/49/EU commands for participating in CIF (Investor Compensation Fund). It offers a coverage of Euro 20,000. The policy protects investors from potential losses during variable and uncertain activities.
The trades in the UK get the protection of Pound 85,000 by the FSCS(Financial Services Compensation Scheme). All other regulating authorities give safety against the negative balance.
With these regulating bodies, protection allowances, MarketsX broker stands out as a safe and transparent place for traders.
Commissions and Fees on MarketX Assets
A good trading platform requires flexible and competitive pricing on their services. It matters a lot when traders make choices. Let us discuss:-
- The brokerage company has levied some charges on the overnight positions with leverage. Swap rates apply to them.
- The spread of 0.4 pips applies on EUR/USD
- The broker does not charge any charges for brokerage.
- There is no additional fee for withdrawing and depositing funds. However, a third party may charge something depending on their policy.
- People get benefits of stock splits, dividends, takeovers etc. by corporates.
MarketsX Popular Tools
The website has fourteen types of tools to assist traders in buying and selling across 2200 assets. Their categorization is into three parts:- Sentimental, Fundamental and Technical.
Tools in this category look after the functioning of short-term transactions and perform as indicators accordingly. Here are the sub-categories
Hedge Funds Investment
The tool uses the data from the SEC to acknowledge actions initiated by stock hedge funds. It helps in reflecting the sentiment of the market. Hedge Funds investment provides information about trends of stocks for a quarter concerning the fund managers. Investors can learn lessons by watching hedge fund managers, as to how they function.
One can read the opinions and advice of more than fifty thousand financial bloggers and apply in their trading. Traders can weave a strategy around the tips and pick the trending and the best-performing assets.
Trading Analyst Recommendations
The tool exhibits the mindset and recommendations of the top trading analysts in the US stocks. An investor can benefit from the pick. Analysts get ranked from 0 to 5 as per their abilities to predict.
Trends in Trading
One can see the flock of traders working on the market. It gives an idea of trend-setting assets. Real-time updates see the market change instantly.
A trader can witness the stir inside the market. The volumes and fluctuations in holdings. It can help in chalking out a plan in buying and selling of certain stocks. Also, it has logs for all transactions and names of individuals that can help in evaluating and learning.
Acuity News Alerts
These news updates work as an informer that provides an idea for predictions and anticipation. The sentiment can play the role of a leading indicator.
It combines the data from other tools and presents it on the table at once, saving time to check individually.
It is part of the technical aspect. The tool has several markers like Elliot wave, forecasting and Fibonacci Retracement. Besides, it can assist in long and short positions.
In the fundamental tools, there are advanced alerts, Thomson Reuters stock reports, and Dow Jones News.
These are the advanced versions of other tools and help in delving deeper into the market with precision.
Methods of Withdrawal and Deposits
For depositing and withdrawal of funds, investors can use techniques like Skrill, debit and credit cards Skrill, Paypal and Neteller. Also, bank wires are useful in it. However, Sofort and Ideal accept only deposits. Besides, the geographical conditions and country-wise, service providers may change their services.
The company lacks the minimum deposit scheme corrected in all countries it trades assets. In some nations, it is $ 100 (which is high) or equivalent. While in the UK it goes to $ 250 minimum. It negates many budding traders an opportunity to try.
There are some regulations applied to withdrawal of funds as well. It may take up to eight days while using credit cards, which may exhaust a trader. Also, the transaction can take place if the account holder has the same name.
Types of Platforms on MarketsX Broker
The company is using the latest platforms MetaTrader4 and its advanced version MetaTrade5. They both are capable of pulling -off the most challenging transactions and bidding instantly. Spanish, Arabic and English are languages they support.
The website aids operating systems like Linux, Mac, Windows etc.
Some Supported Features
Automated trading, hedging, scalping, trading signals, chart trading, market analysis, email alerts, OCO orders, mobile-trading, one-click-execution, trailing stops and web-based trading
Guaranteed execution, interest on margins, guaranteed limit orders, mobile orders and guaranteed stop loss.
Customer Support on MarketsX Broker
It has regular customer support that operates five days though for twenty-four hours. It extends the support in various languages. People can get a resolution of their problems through e-mail and chat as well. However, the SMS facility is not available here.
How much Leverage does Market X Offer?
The query is a decision for genuine traders. The maximum leverage one can avail is 1:300. But investors falling under FCA and CySEC radar get only 1:30 part of it.
How to Open an Account on MarketX?
For an account, standard procedures like filling personal details, providing verification details and bank account information are necessary. After filling them, it takes a stipulated time before one can start trading.
For learning the best knowledge of how the brokerage company trades, the demo account can give a better insight. Take a round, try all the options and then make-up the mind.
No Educational Tool Available
It is disappointing to find no course materials to learn basic trading rules. New traders may find it difficult to trade without the proper information. The website lacks any webinars, tutorials or youtube videos that can teach beginners. Besides, even veterans require some help, but there is no library or e-books to assist.
Are there Bonuses Available to MarketsX Clients?
The website does have a piece of information regarding the matter, but there is no surety. The explanation lacks substance, and the service may depend on the company’s internal policies.
What Types of Instruments does the Website Trade?
The website trades ETFs, commodities, stocks, derivatives, indices, metals, and oil. However, there are no binary options available to clients.
Pros and Cons of MarketsX.com
The company has many features to attract and does not boast several. Here are the pros and cons:-
- The website offers advanced platforms like MT4 and MT5, which make the trading job easier for people.
- The Availability of the demo account is indeed helpful for those who want to be sure before signing up.
- The website seems incomplete in many countries.
- There is only one trading account available.
Summary On MarketsX Broker Review
The website has 2200 assets which make it stand out in the competition. Also, the in-house features seem lucrative and worth trying. But the minimum investments are too high for a layman to try as a beginner. Especially $ 250 investment to start is too much to ask for. It can lead to small investors backing out. Some functions of withdrawal are also archaic.
However, on the brighter side, there is also a demo account and advanced charting tools to analyze the market.
All in all, that is accomplishing. Rest traders can decide by working out on a demo.
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