Markets.com Review 2022

Markets.com charges no account, deposit or withdrawal fees. However, the positives end there as it has high forex fees, rather average CFD fees, and also charges an inactivity fee.

How we ranked fees

We ranked Markets.com's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

• Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
• Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Markets.com for each asset class. For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates.

We also compared Markets.com's fees with those of two similar brokers we selected, FXTM and FP Markets. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Markets.com alternatives.

To have a clear overview of Markets.com, let's start with the trading fees.

Markets.com trading fees

Markets.com's trading fees are mixed. Forex fees are high, while CFD fees are rather average.

We know it's hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We selected popular instruments within each asset class:

• Stock index CFDs: SPX and EUSTX50
• Stock CFDs: Apple and Vodafone
• Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used was:

• 20:1 for stock index CFDs
• 5:1 for stock CFDs
• 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let's see the verdict for Markets.com fees.

CFD fees

Markets.com has generally average CFD trading fees.

Forex fees

Markets.com's forex fees are high.

Non-trading fees

Markets.com does a good job in general with non-trading fees as there are no account, deposit or withdrawal fees.

On the other hand, it does charge an inactivity fee of $10 per month already after 3 months of inactivity.

Account opening at Markets.com is seamless, fast and fully digital. You can open your trading account within a day.

Can you open an account?

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79.9% of retail CFD accounts lose money

Markets.com accepts customers from many countries globally, including most EU member states, the UK, Australia and South Africa. There are some notable exceptions, though, such as citizens of the US, Canada, New Zealand, Hong Kong, Japan, Israel, Russia, Brazil, Turkey or Belgium.

What is the minimum deposit at Markets.com?

The required minimum deposit at Markets.com is €/£/$100.

Account types

Markets.com does not offer separate account types. With a single registration, you'll have the option to try out a real and a demo account. 

The demo account comes with $10,000 in virtual funds so that you can test the platforms and the services offered by the broker before depositing your own funds. If the demo account is not used for a period of 90 days or more, it will be set as inactive.

How to open your account

Account opening is very easy and fully digital. It took one day for our account to be approved.

Here are the steps of the Markets.com account opening process:

1. Enter your personal and financial information.
2. Indicate your trading experience and fill out a test about your financial knowledge.
3. Verify your identity and residency. You can upload a national ID, passport or driver's license to verify your identity, while utility bills or bank statements are accepted for residency verification.

Markets.com provides multiple deposit and withdrawal options free of charge on a user-friendly interface.

Account base currencies

At Markets.com, you can choose from 11 base currencies: USD, EUR, GBP, PLN, SEK, DKK, NOK, ZAR, CZK, CHF and AUD. If you're using the MetaTrader platform, you can select the following currencies: EUR, GBP, USD, AUD, CAD, JPY and PLN.

Why does this matter? For two reasons. If you fund your account in the same currency as your bank account or you trade assets in the same currency as your account base currency, you don't have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Compare digital banks

Deposit fees and options

Markets.com charges no deposit fees.

Similarly to most other CFD brokers, there are several ways to fund your account:

• Bank transfer / fast bank transfer
• Credit/Debit card
• PayPal
• Skrill
• Neteller
• Sofort
• iDeal

A bank transfer can take several business days, while payment with a credit/debit card is instant.

You can only deposit money from accounts that are in your name.

Markets.com withdrawal fees and options

Markets.com charges no withdrawal fees. You can use the same methods for withdrawal as for deposits.

How long does it take to withdraw money from Markets.com? We tested credit card withdrawal and it took 1 business day.

You can only withdraw money to accounts that are in your name.

How do you withdraw money from Markets.com?

• Click on the menu in the top right corner of your screen.
• Select 'Withdrawal'.
• Choose the method (bank transfer, credit/debit card or electronic wallets).
• Enter the withdrawal amount and initiate the transaction.

Markets.com's web trading platform is easy to use, offering great search functions and price alerts. Still, it lacks some important features such as two-step login or a fee report.

Markets.com provides many different trading platforms:

In this review, we reviewed the Markets.com's web platform. The platform is available in many languages, listed in the table below.

Look and feel

Markets.com's web trading platform is user-friendly and has a clean design. On the negative side, you cannot customize it to your personal preferences. You can, however, choose among various layouts, and you can also resize the windows, which is always a plus.

Login and security

Markets.com only provides one-step login. We missed a more secure, two-step authentication process.

Search functions

The platform's search functions are good. You will easily find what you're looking for and you will get relevant results for your search.

Placing orders

While some more sophisticated order modes are missing, you can use the following basic order types:

• Market
• Limit
• Stop

To get a better understanding of these terms, read this overview of order types.

Alerts and notifications

We were impressed by the alert and notification functions on Marketsx. You can set up email and SMS notifications as well as price alerts. However, it's not possible to set a notification for order confirmations.

Portfolio and fee reports

Markets.com has clear portfolio reports that are easy to find under the 'My accounts' menu, where you can also download them. However, we missed a clear fee report where we could easily view swap charges.

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Markets.com has a user-friendly and well-designed mobile app with a great search function and price alerts. However, there is no two-step authentication or Touch/Face ID login.

In addition to Markets.com's own mobile trading platform, you can also use MetaTrader 4 and 5 for trading on the go. In this review, we tested Markets.com's own mobile trading platform.

Markets.com has mobile apps for both iOS and Android. For this review, we tested the iOS version.

The mobile trading platform is available in many languages.

Look and feel

The Markets.com mobile trading platform shares a lot of similarities with the web platform. It looks nice and you can navigate it with ease. There is a smooth onboarding process when you first log in, and after a few minutes, you are good to go.

Login and security

Markets.com requires only one-step login for its mobile platform; having two-step authentication would provide an added layer of security. Also, you can't log in using biometric authentication. Providing this feature would make the login process more convenient.

Search functions

The search functions are good: when you start typing, you will immediately see all the available options.

Placing orders

You can use the same order types as on the web platform.

Alerts and notifications

You can set alerts and notifications on the Markets.com mobile platform. Either go to 'My account' and select 'Price alerts', or use the bell icon next to the traded instruments. You can be notified via email as well as mobile or web push notifications.

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Markets.com's desktop trading platform is provided by MetaTrader. It is well customizable and you can set price alerts, but it lacks two-step login and the design is outdated.

Markets.com offers MetaTrader 4 and MetaTrader 5 as desktop trading platforms.

Look and feel

Markets.com's desktop trading platform has great customizability. You can easily change the size and position of each tab.

However, the platform feels outdated, and some features are hard to find. For example, it took us a while to figure out how to add an asset to the watchlist.

Login and security

Markets.com provides only one-step login. Two-step authentication would be more secure.

Search functions

The platform's search functions are OK. You can find assets by browsing various category folders, although this is a bit confusing as there are several seemingly identical forex folders to choose from. We also missed the usual search function where you can type an asset's name manually.

Placing orders

You can use some of the usual basic order types on the MetaTrader desktop platform. The following order types are available:

• Market
• Limit
• Stop
• Trailing Stop

Trailing Stop is available only in the MT4 desktop platform.

If you are not familiar with these order types, read this overview.

There are also order time limits you can use:

• Good 'til canceled (GTC)
• Good 'til time (GTT)

Alerts and notifications

You can set alerts and notifications in the form of e-mails, mobile push notifications, or notifications on the desktop platform itself.

To set email or mobile notifications, you have to add your email address and your mobile MetaQuotes ID (it can be found in MT4 app's settings). You can add them if you go to 'Tools' and then 'Options'.

Portfolio and fee reports

Markets.com has clear portfolio and fee reports. You can easily see your profit-loss balance and the commissions you paid. These reports can be found under the 'Account History' tab. To download them, right-click then choose 'Save as Detailed Report'.

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Markets.com's product portfolio covers CFDs. However, some other popular asset classes such as stocks, ETFs, options or futures are not available.

Markets.com is primarily a CFD and forex broker. To learn more about CFDs, read our CFD trading tips.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.9% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Markets.com provides a good range of CFDs, largely matching its immediate competitors. You can also trade quite a few cryptocurrencies.

The UK's Financial Conduct Authority (FCA) banned the sale of crypto derivatives to UK retail customers from January 2021. This means that crypto CFDs are not available for UK residents or at brokers regulated in the UK.

We were told by customer support that it's not possible change the default leverage of the products. This is a drawback, as we think that being able to change the leverage manually is a very useful feature when you want to lower the risk of your trade. Always be careful with forex and CFD trading, as preset leverage levels may be too high.

Markets.com also offers CFD Blends, which are basically combinations of several CFDs organized along themes like 'cryptoblend,' 'Brexit winners' or 'Brexit losers.' The composition of these CFD portfolios is fairly transparent, and you can also check their past performance. We really liked this function.

Markets.com has great research tools, including charting, recommendations and a high-quality news flow. You can also get some limited fundamental data on assets.

Trading ideas

Markets.com provides trading ideas. These recommendations clearly state whether to buy or sell the asset in question, and also include target prices. However, no reasoning is provided for these recommendations.

You can also find stock recommendations from analysts. These are experts from top-tier banks such as JP Morgan, Goldman Sachs, Merrill Lynch, etc. We liked that they are ranked based on their past forecasting performance.

You can also see what bloggers at Seeking Alpha or The Motley Fool write about some of the stocks available at Markets.com.

In addition, there's an Insider Trades Sentiment section where you can see how insiders - such as company management or other stakeholders - traded the stock in question.

In the Hedge Fund Sentiment section, you can see how leading fund managers have adjusted their positions over the previous quarter.

Fundamental data

There is a menu for fundamental data, but it contains no real useful data on fundamentals like financial ratios or past financial reports; only some basic company data. You can take a quick look at some basic financial data when you click on the relevant tab of an asset.

Charting

Markets.com has good charting tools; you can add 81 technical indicators. For some stocks, you can access technical recommendations from analysts, bloggers and hedge funds.

News feed

Under News Sentiment, you can find all the relevant news for each asset. It includes a color-coded score for each item, allowing you to see whether the news is positive, neutral or negative.

Compare research pros and cons

Markets.com's customer service is good: you can reach it via several channels and get quick and useful responses. However, it is not available on weekends.

You can contact Markets.com via:

• live chat
• phone
• email
• online query form

Markets.com's customer service was always quick, reliable and professional when we tested it. For example, when we asked about fees, they also brought up financing rates. You can rate your agent at the end of the conversation, which is a good way to provide feedback.

If you prefer queries over the phone, you can call a phone number appropriate for your region; you can find these phone numbers on the website.

• EU: +357 2222 2121
• AU: +61 280 144929
• Other countries: +44 203 1500 380

On the negative side, customer service is only 24/5, meaning it is not available on weekends.

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Markets.com has good education materials, including a demo account, regular webinars, and tutorial videos on its YouTube platform.

At Markets.com, you can learn in the following ways:

• Demo account
• Platform tutorial videos
• General educational videos
• Webinars

Previously, educational videos were available on the website's Knowledge Centre, but now you can find them either on the platform or on the Markets.com YouTube channel. Educational content includes tutorial videos, short videos about trading tips, as well as some longer, 60-minute videos on special topics such as trend signals.

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Markets.com is regulated by many authorities globally, including the top-tier FCA. It offers negative balance protection and has a solid background, but it has no banking license.

Markets.com is the trading and investing arm of a group called Finalto, which is owned by Gopher Investments, a consortium of Asian and American investors.

Is Markets.com regulated?

Yes, it is regulated by several financial authorities:

• the Financial Conduct Authority (FCA) in the UK
• the Australian Securities and Investments Commission (ASIC) in Australia
• the Cyprus Securities and Exchange Commission (CySEC) in Europe
• the BVI Financial Services Commission (FSC) in the rest of the world

Is Markets.com safe?

To be certain if a brokerage is safe, we highly advise that you check two facts:

• how you are protected if something goes wrong
• what the background of the broker is

How you are protected

Markets.com operates several subsidiaries; which one of these will serve you will depend on your residence. The investor protection amount you are eligible for depends on the country of the subsidiary you are signing up with.

Markets.com provides negative balance protection for retail clients. This means your balance cannot go negative if you trade with leverage, which limits some of your risks.

Background

Markets.com's background is a bit complicated. Safecap Investments Limited operates Markets.com in Cyprus, while the other entities are operated by Finalto Group. Safecap Investments Limited is owned by Finalto Limited, which is a subsidiary of Gopher Investments, a consortium of Asian and American investors.

Markets.com was established in 2008. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

The fact that Markets.com is regulated by at least one top-tier financial authority and offers negative balance protection are all good signs for its safety.

Find your safe broker

Markets.com is a CFD broker regulated by several authorities globally, including the top-tier FCA in the UK and ASIC in Australia.

Account opening at Markets.com is seamless and fast; it has good research tools and great customer service; and it is regulated by multiple top-tier financial authorities.

On the negative side, forex trading fees are high, and product selection mostly covers only CFDs and forex. We also missed some important features on the trading platforms, such as two-step authentication, or price alerts on the web platform.

All in all, Markets.com may be a good choice for CFD and forex traders. As the account opening is super easy, feel free to try it.

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79.9% of retail CFD accounts lose money

We recommend Markets.com for traders looking to venture into CFD trading.

Below, you can find links to all aspects of Markets.com in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our Markets.com fees article.

What about the minimum deposit?

Our ultimate guide to the Markets.com minimum deposit is updated regularly.

How to start your Markets.com account?

Look no further than our evaluation of the Markets.com account opening.

How's their trading app?

Here's our expert view after checking the Markets.com trading app.

Is the quality of customer service satisfactory?

All you need to know about Markets.com customer service.

Legit or scam?

Is Markets.com legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether Markets.com is really free.

Is this broker good for beginners?

We checked it in Is Markets.com good for beginners.

Should you buy your silver bullets on Markets.com?

Research for silver bugs in the Silver buy on Markets.com guide.

I want to trade options, are they available at Markets.com?

We explored the topic in Can you trade options on Markets.com.

What is the minimum account balance at Markets.com?

Check out the current account balance requirements at Markets.com in our What is the minimum account balance at Markets.com article.

Looking for commission and fees data for Markets.com?

We collected them in Markets.com commission and fees.

How do you withdraw money from Markets.com?

We tested it and collected the options and costs in How to withdraw money on Markets.com.