Ranking SummaryOverall Ranking: 4.08 stars out of 5
Ease Of Use: 4.8 stars out of 5
Costs: 3.4 stars out of 5
Educational Resources & Customer Support: 4.2 stars out of 5
Research & Analysis Tools 4.5 stars out of 5
Range Of Product Offerings: 3.5 stars out of 5
Summary: A very good, well designed platform with a broad range of investment opportunities available.
Recommended For: The simplicity of the platform makes it ideal for novice traders, but US traders are not allowed, and if your main interest is in trading cryptocurrency, this platform isn’t the best choice for you.
With so many online brokerage options available these days, finding a good platform to manage your investments from can be a daunting challenge. Markets.com is one of many, but are they a good fit for you?
The short answer is, they may be. Founded in 2010, Markets.com is owned Safecap Investments, Ltd, a Cyprus-based entity which is itself owned the UK firm, Playtech PLC.
Ten years may not seem like a long time, but in the world of investing, it’s an eternity. If the company didn’t offer a compelling range of services at competitive rates, they’d have died out long ago.
The reality is that Markets.com has a lot to offer, but the platform isn’t for everyone, and sadly, if you’re from the US, you won’t be able to use the platform at all.
In the sections that follow in this review, we’ll tell you everything the platform has to offer, and we won’t be bashful about pointing out the firm’s shortcomings and limitations. That way, you’ll have all the information you need, right at your fingertips, to make an informed decision. If that sounds good to you, read on and let’s take a closer look!
Ease Of Use (4.8 stars out of 5)
As with most online investment platforms, Markets.com offers both a desktop and an app-based (mobile) experience. The desktop platform is well-designed, and is relatively easy to use and master, which makes it an excellent choice for novice traders. It puts decent, basic information at your fingertips without being overwhelming.
Unfortunately, seasoned investors may find the platform a bit limiting. While it does offer basic charting capabilities and drawing tools, it’s not at all hard to find a platform that offers more on this front.
That’s a bit of a two-edged sword though. The more tools you add, the more daunting the learning curve. Markets.com made the strategic decision to keep things simple, which makes it an especially attractive choice for beginners. While we recognize that others will disagree with our assessment, we applaud this approach.
In addition to charting, the desktop interface allows users to create a single customized “favorites” watch list, and provides basic order management capabilities, including:
- Stop Loss
- Take Profit
- And Limit Orders
Detailed information is available via contextual menu options, but again, seasoned investors will probably find themselves wishing there was more of it.
The Markets.com app, available for both iOS and Android is broadly similar to the desktop experience, though as with most companies, the Markets.com app’s feature set is somewhat more limited than the desktop version.
Again, the good thing about that is that it’s really easy to master. Even if you’re not an especially tech-savvy investor, you’ll have the basics worked out in no time at all. Unfortunately, seasoned investors will probably feel the limitations of the app that much more quickly.
Costs (3.4 stars out of 5)
Markets.com’s costs are about average for the most part, but there is one important exception to be mindful of. If you’re interested in trading cryptocurrencies, this platform probably isn’t for you, because the fees are some of the highest you’ll find in Europe.
Another thing to keep in mind is the fact that there are a few hidden fees that make determining your ultimate costs a bit of a puzzle. It’s not the end of the world, but those two things do serve as a bit of a blemish on the platform as a whole.
Finally, their inactivity fees are on the high side of average at $10 a month after just three months’ of inactivity.
On the plus side, withdrawals are free and fairly speedy, generally available within 2-3 days, but sometimes (weekends) that can stretch to as many as five.
Also on the plus side of the ledger is the fact that new clients receive bonuses based on the size of your initial deposit. While you can open an account with as little as $250, you may find it worthwhile to open with more than that to reap a bigger new client bonus. It’s a small thing, but a nice perk!
Educational Resources & Customer Support (4.2 stars out of 5)
Markets.com has a fairly robust collection of educational resources, but it’s clear that these were designed mostly with the novice investor in mind. Seasoned investors may find the depth of the available resources to be somewhat lacking.
In our minds, this underscores the notion that while most anyone can use the platform, it was really designed with beginning investors in mind.
There’s a catch though, where the educational resources are concerned. Remember earlier when we mentioned that the app-of the interface was a scaled down variant of the desktop version? This is one area where you’ll really feel it.
You won’t find much in the way of educational support on the app. To access the full set of resources, you’ll have to log on via your PC. The navigation system is broadly similar, so you won’t have much difficulty navigating around when you switch from one to the other, but it is something to be aware of.
On the customer service and support front, the company does very well, with the notable exception being that the FAQ is quite basic and limited. Fortunately, this is more than offset excellent voice chat and phone support, which again supports the idea that this platform was really optimized for novice investors.
Research & Analysis Tools (4.5 stars out of 5)
This is something we feel that Markets.com really gets right. Rather than trying to reinvent the wheel and develop their own proprietary analysis tools, the company has partnered with a variety of third-party vendors to provide a robust collection of research and decision making tools.
In addition to finding insider transactions list and hedge fund activity, you’ll also find buy and sell recommendations from both professional analysists and the Markets.com trading community at large.
The only real complaint we have on this front is the fact that Markets.com doesn’t offer a real-time news feature. That’s a real limitation, but it isn’t the end of the world. Overall, we’re quite pleased and impressed on this front.
Range Of Product Offerings (3.5 stars out of 5)
The Markets.com platform has the basics covered and you’ll find a fairly impressive range of investment options including more than sixty Forex currency pairs, shares, ETFs, indices, commodities, CFDs and about a dozen different cryptocurrencies at last count.
While its certainly possible to get yourself established on a platform that offers more options, you’ll certainly won’t suffer from a lack of opportunities here, and once more, we’re struck this platform’s suitability for novice investors, who might suffer from analysis paralysis with an overwhelming number of investment options available.
Pros And Cons
In no particular order, here are the things we think you’ll like best about trading with Markets.com:
- The platform is easy to use and easy to master.
- You’ll find a broad cross-section of investment opportunities available.
- The system has an impressive number of third-party tools to help with analysis.
- The educational resources are abundant, though geared more toward novice and intermediate investors.
- And although the FAQ is wanting, the live chat and phone support is excellent.
On the flip side, there are some weaknesses to be mindful of:
- One of the things that makes Markets.com so easy to use is the fact that it’s fairly simplistic. You won’t find advanced order types, back testing, or the advanced charting capabilities available on platforms that are designed to cater to more seasoned investors.
- And while the fees are mostly competitive, there are some hidden fees that can make your costs a bit difficult to predict, and the fees for cryptocurrency trades are quite high.
Overall, we find that the pros associated with using Markets.com outweigh the cons a significant margin, and for most investors, we recommend the platform.
Markets.com 73.9% 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.