Markets.com South Africa Review
Markets.com is one of the popular FX firms based in South Africa. The firm is owned by Tradetech Markets (South Africa) Pty Ltd which is also based in South Africa. The license number of Tradetech is 2014/049713/07 and it operates under the Markets.com South Africa trading name. Tradetech, on the other hand, is owned by Playtech PLC which is registered in the Isle of Man and is among the big global Forex and gambling players in the world. Tradetech is licensed by Cyprus Securities Exchange Commission (CySec) as well as Financial Securities Board (FSB) of South Africa hence making it an internationally recognized FX broker.
What features make markets.com unique?
The Markets.com platform is entirely online. This means that as a trader you don’t need to download any app or install any external software in order to start trading. The company has worked hard to ensure that there are no trading commission fees which then means traders retain more with each and every trade. Here are some of the distinct features to check out;
- Tight spreads – The tighter the spreads a broker is able to offer its customers, the better it is for the traders and the more popular such a broker becomes. In this Markets.com South Africa review, we see that the spreads this broker offers the customers are tight which then makes the platform very competitive.
- Cryptocurrency trading – Markets com FSB regulated is among the major FX brokers that offer crypto trading. Traders can opt to trade in Bitcoin, Ethereum, Litecoin, Ripple among other cryptocurrencies. The broker offers leverage of up to 1:5 on all cryptos other than Bitcoin which is limited to 1:1. Because of the wide range of cryptos, Markets.com stands out amongst its peers.
- Trading experience – Trading at Markets.com is made easier and convenient for traders by the different trading tools that the broker has provided. The technical analysis tools include live streaming live feed. There are SMS notifications and daily trading signals which are designed to help traders make informed trading decisions. On top of that, there are analysis charts that provide pivot points and which also help in giving support and resistance levels of the market. The platform uses MT4 trading tool which is convenient and user-friendly.
- Deposits, withdrawals, and bonuses – The minimum deposit at Markets.com varies from one type of account to another. The least amount deposit required for the basic account is $100 while that for a standard account is $2,500 and $20,000 for a premium account. Once you sign up at Markets.com South Africa, you are eligible to get a $20 bonus which you can use to practice trading. Once you are confident you can trade live, you will then be required to deposit. Markets.com is one of the few FX platforms where you can get a free demo account without the need for depositing cash first.
- Leverage – There are over 2,200 instruments that you can trade in at Markets.com. The leverage which traders enjoy varies from one category to another.
- Leverage for currencies is up to 1:300
- Stocks up to 1:20
- Indices up to 1:150
- Commodities up to 1:200
- Cryptocurrencies up to 1:5 but Bitcoin is limited to 1:1