By Steven Hatzakis
February 18th, 2019
Last Updated: April 16th, 2019
The ForexBrokers.com Annual Review (3 years running) is among the most cited in the industry. Our Head of Research, Steven Hatzakis, is frequently referenced as a leading analyst covering forex brokers and cryptocurrency. Learn more.
Markets.com’s parent company, Playtech, has been listed on the London Stock Exchange (LSE) since 2012 under ticker symbol PTEC and is part of the FTSE 250 Index, with a market capitalization of over £1.2 billion as of March 2019.
Playtech develops gambling, casino, and financial trading technology that powers its brands’ products, including those of Markets.com. The broker serves forex and CFD traders through its proprietary and third-party trading platforms under the Markets.com brand.
Markets.com is regulated in Cyprus and passported throughout Europe under MiFID II, through its CYSEC-registered entity Safecap Investments Ltd. The brand also has an entity, Safecap Investments Limited, which is regulated in South Africa by the FSCA as a Financial Services Provider (FSP), and in Australia is trading as Markets.com through its ASIC-regulated entity, STA Global Investments Pty. Ltd., which also holds a license in New Zealand with the FMA.
Thanks to its Web Trader platform, Markets.com is easy to use; however, the broker is pricey and lacks the feature-rich trading and research tools required to compete with industry leaders.
- Parent company is publicly listed in the UK.
- Web Trader platform is well-designed and easy to use.
- Over 2,000 tradable instruments.
- Wide spreads on forex pairs.
- Charting in mobile app is limited.
- Parent company Playtech is better known for its gambling and casino products than its forex and CFDs trading.
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|Publicly-Traded Company (Listed)||Yes|
|Regulated in Major Hub||Yes|
|Regulated in Emerging Hub||Yes|
|Authorised in the European Union||Yes|
Commissions & Fees
Assessing Markets.com for trading costs is tricky. Our best guess is that the broker is expensive and far from being competitive with industry leaders.
- In terms of trading costs, spreads are fixed on forex pairs at Markets.com, compared to most multi-asset brokers that offer variable spreads.
- Also, spreads are generally tighter on the company’s proprietary Web Trader platform, compared to its third-party trading platforms offered, including MetaTrader4 and Sirix platforms, where the product range is not as extensive.
- The firm advertises spreads as low as 2.0 pips on the EUR/USD, and 3.0 pips on its MT4 offering, which are – on a fixed-spread basis – comparable to other firms with fixed spreads, yet more expensive when compared to other firms with variable (floating) spreads.
- Summary aside, we would like to see Markets.com publish how consistent spreads remain fixed to help make a level comparison with other brokers with fixed spreads.
|Minimum Initial Deposit||$100|
|Average Spread EUR/USD - Standard||2.00|
|All-in Cost EUR/USD - Active||2.00|
|Active Trader or Premium/VIP||No|
Platforms & Tools
Compared to MT4, the Markets.com Web Trader platform would be my choice because of its lower comparable spreads and access to a larger number of instruments.
- Markets.com offers its Web Trader platform (also available in mobile form), where the widest range of its product offering can be found, including 55 forex pairs and over 2,000 CFDs, nicely packaged in a responsive user interface.
- In terms of charting in Web Trader, there are over 90 indicators that can be added for technical analysis – which is more than the industry average. Charts also include an automated technical analysis indicator powered by Trading Central. That said, only four drawing tools are available.
- Web Trader is very easy to use. Throughout the platform Markets.com has placed great emphasis on a smooth user experience, with module linking enabled by default, for example, and pre-defined screeners. This means that when you click on a symbol in your watchlist, any open chart will automatically change to that instrument.
- Markets.com also offers MetaTrader4 (MT4).
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|Virtual Trading (Demo)||Yes|
|Desktop Platform (Windows)||Yes|
|Social Trading / Copy-Trading||Yes|
|MetaTrader 4 (MT4)||Yes|
|MetaTrader 5 (MT5)||No|
|Charting - Indicators / Studies (Total)||51|
|Charting - Drawing Tools (Total)||31|
|Charting - Trade From Chart||Yes|
|Watchlists - Total Fields||7|
|Order Type - Trailing Stop||Yes|
Overall, Markets.com has a good foundation for research. However, there is room for improvement as the broker trails industry leaders.
- Since our review last year, research has been improved on Markets.com’s platform, thanks to the broker swapping third-party provider Delkos for Trading Central. With Trading Central, users get access to a wider array of content and features, including trading signals and indicators.
- In addition to sentiment indicators, I enjoyed exploring the four modules under the Market Consensus tool, including the Insiders Stuff, Analyst Recommendations, Bloggers Opinion, and the Hedge Funds section. The Events & Trade section also contains useful event-related analysis.
- Another highlight is that Markets.com provides detailed research reports available for many of its single-share CFDs.
- Adding content from in-house analysts, a heatmap tool, or more advanced stock screener, would improve Markets.com’s research offering.
|Daily Market Commentary||Yes|
|Forex News (Top-Tier Sources)||Yes|
|Trading Central (Recognia)||Yes|
|Social Trading / Copy-Trading||Yes|
|Social Sentiment - Currency Pairs||Yes|
While the Markets.com mobile experience is respectable, the lack of drawing tools, indicators, and research tools leave a gap in the mobile offering, compared to other multi-asset brokers.
- Besides the MT4 native app available for mobile, Markets.com also offers its own proprietary mobile app as a counterpart to the Web Trader platform, and like MT4 mobile, the Markets.com app is available for Android and iOS devices.
- The Markets.com mobile app combines many features found in the Web Trader platform, keeping a consistent look and feel across both platforms.
- By default, the watch list doesn't sync with the favorites chosen on the Web Trader platform. Otherwise, the only drawback with the Markets.com mobile app is that the charting lacks both drawing tools and the ability to add any indicators, despite its auto-rotating charts and having several time frames and chart types to choose from. It also has an easy pinch-to-zoom interface.
|Apple iOS App||Yes|
|Trading - Forex||Yes|
|Trading - CFDs||Yes|
|Alerts - Basic Fields||Yes|
|Watch List Syncing||Yes|
|Charting - Indicators / Studies||30|
|Charting - Draw Trend Lines||Yes|
|Charting - Trend Lines Moveable||No|
|Charting - Multiple Time Frames||Yes|
|Charting - Drawings Autosave||No|
Offering of Investments
The following table summarizes the different investment products available to Markets.com clients.
|Currency Pairs (Total Forex pairs)||55|
|CFDs - Total Offered||2085|
|Cryptocurrency traded as actual||No|
|Cryptocurrency traded as CFD||Yes|
Markets.com is backed by a trusted publicly traded company and offers a diverse selection of CFDs and forex pairs to trade. Thanks to its Web Trader platform, the broker provides a good balance of simplicity and functionality.
That said, Markets.com lacks depth with its trading and research tools. It also is expensive, as a lack of liquidity rebates, or even an active trader pricing structure makes Markets.com ideal only for traders who are less cost-sensitive.
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About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.