Markets.com Review Australia & Test 2021
Is Markets.com safe or scam?
Welcome to Wetten Australia’s comprehensive Markets.com review. The company is based in the British Virgin Islands and has been offering its online service since 2008. We will be diving into all they have to offer as an online broker.
If you are considering making an online investment, you will need to ensure that you are able to sign up with a reputable service provider to keep your funds safe while providing a quality service. There are plenty of offers on the market and our reviews have been compiled by a team of experts to keep you informed with the latest information.
Once you have browsed through a couple of online operator reviews, you might have stumbled upon a welcome offer here and there and this would provide you with the perfect platform to kickstart your career. There are plenty of brokers on the scene today and each of them is looking to outperform the next with exciting offers and personalised experiences. With Markets.com Australia, there is no specific welcome promotion available. The offers are relatively scarce on the market but there are some operators who provide them. Check out our OctaFX review for a welcome offer.
In terms of a new customer experience, you will be able to use the vast range of educational resources that our Markets.com review Australia uncovered. They have covered all the bases you will need when you are starting out and the information is readily available with any account option.
The Markets.com Australia website is relatively well designed when compared to other online broker’s pages. You will be able to navigate through the entire service with ease and find all the information you are looking for. This section is important towards our Markets.com ranking as you will be spending most of your time between the website and the trading platform once you have signed up for the service. The trading tools are also made incredibly easy to use thanks to the XRay trading channel that is on offer.
With the trading platforms that they have available, you will find that each software choice is a reputable one within the online trading industry. Markets.com Australia has decided to include the most popular choices when it comes to trading platforms and you won’t be disappointed with choices here. Head to our St. George Directshares review if you are looking for a different broker offer.
Most online brokers tend to offer interested customers a variety of options when it comes to individual accounts. With Markets.com Australia, you will need to go through the process of opening your account in a similar manner to the other brokers on the scene. Once you have clicked on the ‘Create Account’ button from the homepage, you will need to share a couple of details with the online broker before deciding if you want to open an individual, joint or company account. This is fairly standard with online brokers and will depend on your personal circumstances.
In terms of varying individual accounts, Markets.com has decided to avoid doing this in order to keep the customer fees relatively uniform. With a variety of accounts, usually comes a variety of fees. If you are looking for raw individual accounts or perhaps a pro account, then head to our EasyMarkets review Australia where we have conducted comprehensive research into the online broker’s offer.
Fees – Varied fees across different trades
With the account options kept quite standard, the fees applicable to the service would also need to follow suit. If you have browsed through the Markets.com review, you would have found that they pride their service on having lower spreads and low commission rates while maintaining speedy execution of trades. Depending on which service you have opted for, Marketsx or Marketsi, you will be eligible to pay two different sets of fees. Marketsx is based around active trading and you will need to pay a $10 commission for entering and exiting a trade. This value is charged once-off when completing your trade.
You will also need to pay the spread between the buying and selling point of the relative market when you complete a transaction. The spread will vary depending on the market you have invested in and these can all be found detailed on the Markets.com Australia page. Make sure to keep these fees in mind when you are budgeting to trade. In terms of other broker’s fees, this offer is about average and you won’t be paying much more or less with other online operators. It is certainly not the lowest fees that we have come across though.
While you will be doing most of your account admin on the broker’s website, you will be conducting all of your trades by using the trading platform that is provided with their service. Our Markets.com review Australia found that they have plenty of support for traders interested in joining the industry. They offer their own trading platforms, Marketsx and Marketsi, which have been developed with customers in mind. Marketsx will be used if you plan on actively trading with the service and Marketsi is used for investments.
Markets.com Australia also offers customers the ability to use the MetaTrader software packages. This includes MetaTrader 4 and MetaTrader 5. Both of these packages set the pace for other platforms within the online trading industry and plenty of brokers use their services. You can also take advantage of the mobile trading app that has been developed if you are looking to complete some transactions on the go. Take a look at our Macquarie Online Trading review to see just how other brokers compare to this offer.
A great online trading service will always need to be complemented by adequate payment methods to ensure that customers are able to fund their accounts while they are using the service. There are plenty of brokers out there and each of them is looking to include the best support for the ever-changing payment methods on the scene. With Markets.com Australia, you will be able to deposit funds into your account using both debit and credit cards, provided they are either MasterCard or VISA cards.
This payment method is usually instantaneous which is a big positive considering the volatility of financial markets, you will need every second you can get if you are looking to make some gains while trading online. It would be great to see Markets.com provide some additional support here to the various payment methods on the market, plenty of online operators also offer their customers the opportunity to transact using e-wallets and cryptocurrencies. Make sure to check that your preferred payment method is covered before signing up.
Perhaps the most important consideration towards our Markets.com rating would be the customer support that they offer to their clients. The online trading scene is incredibly competitive and with all your money being dealt with online, it is important for the operator to ensure that you have support should you have any queries or issues with their service. Our experts have conducted thorough research into the support we were able to receive while conducting this review.
The amount of contact methods with Markets.com Australia is certainly impressive, you will be able to make use of a dedicated phone line to forward your queries. It is recommended that you first thoroughly browse through the FAQ section that has been put together on their site. This section covers just about any question you can imagine and provides you with solutions to some of the most common errors within the service. Be sure to browse through the FAQs before sending a query to the team.
There is also a live chat service available during weekdays to ensure that you can communicate with Markets.com Australia as quickly as possible. Our experts put this live chat to the test and found that the support team was incredibly friendly and efficient at finding a solution to any of the questions that we asked. The broker manages to check all the boxes in this category of our review and you won’t be disappointed by the support you will be able to receive.
The final consideration we make towards an online broker’s offer would be the regulations that they have to abide by and the licenses that they may have obtained to offer their service to Australian citizens. Our Markets.com review found that they were regulated and supervised by the Australian Securities and Investments Commissions and the Australian Financial Complaints Authority was on hand for any complaints relative to the Markets.com offer. This is what is expected with brokers offering their service here and you can transact with a certain degree of safety with the broker.
When it comes to protecting your funds, all of the money provided to Markets.com Australia is kept within a segregated bank account as per the regulations set by ASIC. There is, unfortunately, no Investor Compensation Scheme available in Australia and this might be added at a later stage. There is also a $1 000 000 insurance coverage provided by Markets.com and you will need to check the policy to ensure your account is covered.
This concludes our Markets.com review Australia. The online broker has certainly gone to extraordinary lengths to put together this comprehensive service and you won’t be disappointed with all they have to offer. There are world-class educational resources alongside some of the best trading platforms on the market. If you have been searching for a secure online broker with access to a variety of markets, then you might have just found what you are looking for with this Markets.com review Australia. To take a look at another offer, head to our AxiTrader review Australia.