Cryptocurrencies for trading
BTC, ETH, LTC, XRP, BCH, Dash
Credit Card, Wire Transfer, WebMoney, Skrill, Neteller
Australian Securities and Investments Commission
Guarantee stop loss
Negative balance protection
Withdrawals: variable (crypto)/none (fiat)
Trade Costs: spread variable
This review about Markets.com is a deep and independently review written by a real trader. It will focus on cryptocurrency trading on Markets.com´s different trading platforms. See also out Markets.com summary which is a summary of the platform with no personal opinions.
Cryptocurrencies on Markets.Com
We mainly trades cryptocurrencies, so we checked out what’s available. We discovered Markets.com offers Bitcoin, Dash, Ethereum Classic, Ethereum, Litecoin, and Ripple.
It wasn’t a surprise. Most brokers offer these particular cryptocurrencies.
Markets.com offers 11 trading instruments you can trade:
- Bitcoin Cash
- Bitcoin / USD
- Bitcoin / EUR
- Dash / USD
- Dash / EUR
- Ethereum Classic
- Ethereum / USD
- Ethereum / EUR
- Litecoin / USD
- Litecoin / EUR
We liked this because it’s one of the largest selections of cryptocurrency pairs we’ve found so far. With Markets.com, we have more opportunities to make a profit trading our favorite instruments.
Unlike other financial markets, the cryptocurrency market is always open. Therefore, you can trade cryptocurrencies 24/7.
Markets.com doesn’t charge any fees or commissions for cryptocurrency trading. However, they do have a spread.
Markets.com provides leverage on three cryptocurrencies. Thus, you can trade Bitcoin, Litecoin, and Ethereum with a leverage of 1:5.
Markets.com Trading Platforms
You can trade using MetaTrader 4 or Markets.com’s proprietary web-based platform. They also offer a mobile platform for trading on the go.
The MetaTrader 4 platform is exactly what you get from every other broker. MT4 is one of the most complete and flexible charting and trading platforms.
However, it does have a bit of a learning curve. All the bells and whistles might intimidate some people at first. But, if you stick with it, you will appreciate everything you can do.
Finding the MT4 platform on Markets.com was a bit of a challenge. You first have to log into your Markets.com account. This will take you to their proprietary platform.
Then, click on My Account in the top right corner, followed by MT4 accounts. From there, you can create a real or practice account on the MT4 platform.
The Markets.com proprietary platform is solely web-based. So, you can only trade through your browser.
It’s certainly a benefit if you use more than one machine to trade. You can switch between laptops and PCs with no worries.
eToro’s platform is the same. However, AvaTrade offers a web-based and a downloadable version of their platform AvaTradeAct. The web-based version of AvaTradeAct has far fewer features than the desktop version.
Now, let’s look at some of the features on offer.
The platform has a clean, crisp, and professional design. The screen is split into two major areas.
On the left, you’ll find the various trading instruments, order information, open positions, closed positions, and order history, depending on which tab you clicked.
On the right is the chart along with the various tools you will need for analysis, including indicators, timeframes, settings, and more.
The AvaTradeAct has a similarly clean design, but their desktop version is much more flexible. You can customize your workspace as you want, whereas the Markets.com webtrader is fixed.
The eToro general platform is also professional and clean. However, when you turn on their charting software, it seems a little clunkier. The overall design is fine, but when you look at the individual elements, they seem unfinished.
The Markets.com platform’s first tab is a drop-down menu of trading instruments. Everything is neatly categorized, so finding your favorite instruments couldn’t be easier.
As you can see, cryptocurrencies appear under currencies. When you click on “Crypto”, the left-hand pane loads all the cryptocurrency pairs you can trade. These pairs are based on the following cryptocurrencies:
- Ethereum Classic
Markets.com also has a Popular tab and a Favorites tab. Under the popular tab, you will find a list of the most popular instruments currently being trader.
The Favorites tab allows you to build your own list of favorite trading instruments for easy access.
EToro has a similar feature, except they call them watch lists. The difference is that eToro is focused on social trading. So, you can also build watch lists of traders you want to follow, and not just trade instruments.
AvaTradeAct doesn’t offer a Favorites feature as such. However, you can save your workspace, with all the charts you loaded. So, when you next open the software, your last workspace will load with all the instruments you were working on your previous session.
The Markets.com platform offers all the charting tools you need to analyze the market.
They have the standard set of indicators and studies, with the ability to customize each quite easily. Note that you can only add a maximum of five indicators and studies to your chart.
They also offer a premium set of indicators called Trading Central, which we will take a closer look at below.
In terms of plotting lines and channels, this platform can be a little challenging. If you want to set a horizontal line, for example, at a particular price, you can’t do it.
You have to place the line first. Then you have to switch to the crosshairs so you can see the exact price and time where you are on the chart. Finally, you have to move the line very gently so you can get it at the right price.
Doing this in eToro is a fair bit easier, while AvaTradeAct knocks it out of the park. With AvaTradeAct, you can plot lines just like in MetaTrader 4.
You can see exactly where you are positioning your line. The movement is sensitive enough that you aren’t jumping 10 pips at a time. Finally, if you want to be ridiculously precise, you can edit the line settings and enter the price manually.
Opening/Closing Positions and Placing Orders
Buying and selling instruments on the Markets.com platform is easy. They offer plenty of options to buy and sell from the various tabs.
They also provide a Stop Loss and a Take Profit feature on the order pane. However, they don’t provide trailing stops, unlike eToro and AvaTradeAct.
The lack of a trailing stop could limit your profits. This is especially true if you’d rather not sit in front of your screen all the time.
The Markets.com Mobile Trader
The mobile trader has a nice and simple design. It offers just enough information to be useful. You can easily follow your trades from your mobile device.
You can open and close positions, monitor the markets and more. However, we don’t recommend using it as your main trading platform. While it does show you charts, it doesn’t really offer any analytical tools.
The mobile trading platform is great for keeping an eye on your trades. It’s also great for getting into and out of the market, but only after you’ve done your analysis on the main platform.
Markets.com Trading Tools
Markets.com offers a series of trading tools that will make trading easier for everyone, from newbies to veterans.
The Market Consensus package includes a variety of decision-supporting tools. These tools provide traders with the financial information they need to make better decisions. Of the four tools, only one is currently available, namely the Daily Analyst Recommendations tool.
Daily Analyst Recommendations
This tool provides public stock recommendations from some of the most well-known financial analysts. The information is available on the platform, under the Trading Tools tab.
Markets.com rates the analysts between 0 and 5 stars based on the following parameters:
- Success Rate
- Average Return
- Statistical Significance
The information offered includes:
- The stock
- The analyst’s name and picture where available
- The company they work for
- Their rating
- Changes they made to their recommendation
- The recommendation itself
- The target price
- The current price of the stock
- The upside/downside between the target and actual prices
- Analyst consensus
It’s an incredibly useful tool. Even if you don’t take analyst recommendations as gospel, it’s still a very good guide.
Unfortunately, it only focuses on stocks. Recommendations for other trading instruments would also be useful.
Markets.com will poll the most influential financial bloggers, financial websites, and media channels to deliver market sentiment via their Social Sentiment tool. The tool will provide numerical breakdowns of the opinions presented.
Markets.com promises this tool will show what trades corporate insiders are making. Thus, any C-level executive or board member that must disclose their traders to the SEC will have their trades presented via this tool.
Hedge Funds’ Activity
The Traders Trends features show what Markets.com traders are doing. In other words, it presents to buy and sell trends, calculated as percentages. So, when you look at a particular trading instrument, you will see the percentage of traders selling and buying it.
Please note that this feature is only available via the mobile trading application.
The Trading Central package is a premium set of indicators. They offer a lot of information, including insights into the markets’ and instruments’ momentum, expected movement and predicted volatility.
The indicators offered with the Trading Central package include:
- Instrument Intraday: shows whether a trading instrument is expected to be bearish or bullish for the day;
- Pivot: shows the price at which an instrument is expected to change direction;
- Green Analysis: recommends preferred trading strategies for an instrument when it reaches a certain price;
- Red Analysis: provides an alternate strategy to the previous option;
- Comment: provides various information, including price break points, pivot price points, RSI, forecasted market momentum and more;
- Released: shows the time and date when the indicator was released;
- Resistance: plots resistance levels;
- Support: plots support levels.
The Trending Now feature allows you to see the top trending instruments using a number of criteria. The following categories are available:
- Top Risers – instruments with the highest increase in price over the past 24 hours
- Top Fallers – instruments with the biggest drop in price over the past 24 hours
- Top Volatile – the most volatile instruments of the past 24 hours
- Top Traders tends – the instruments with the highest level of trading activity by Markets.com traders over the past 24 hours
- 52 Week High – instruments that have hit their highest price of the past 52 weeks
- 52 Week Low – instruments that have reached their lowest price of the past 52 weeks
- Uptrend – The instruments with a positive daily change over the past 7 days
- Downtrend – the instruments exhibiting negative daily change over the past 7 days
- 30 Days High – instruments that have hit their highest price of the last 30 days
- 30 Days Low – instruments that have hit their lowest price in the last 30 days.
You can find this feature on the Markets.com platform, under the trading instruments tab.
Events and Trade
The Events and Trade feature provides potential Forex trading opportunities. It does this by presenting economic reports and showing how they have affected various currency pairs in the past.
So, traders can see how a currency pair has reacted when the figures of an economic report have met market expectations, exceeded them, or underperformed.
It’s a useful feature, considering that not all currency pairs react the same way. Nor do they always react as you’d expect.
The feature is available via the Markets.com webtrader, under Trading Tools. It looks like an economic calendar and offers the following information:
- The economic report
- The date of release
- Trading opportunities
- Affected currencies
- Historical effects on currency pairs
This information is available for situations when the actual figures are on par with consensus. There are also tabs showing reactions for figures that are higher and lower than market expectations.
News and Analysis
Markets.com offers a comprehensive news and analysis section.
The news feature is available on the webtrader. It’s an unobtrusive pane you can open that features all the important and relevant headlines.
If you want more information, simply click on a headline. This will open up the whole article in another narrow pane.
The economic calendar presents all the essential fundamental announcements and events. It is available on the Markets.com website.
Initial Public Offering
The Initial Public Offering section shows upcoming IPOs. It also delves a little into what IPOs are, and why they are important for traders.
Nonfarm Payroll Report
The Nonfarm Payroll Report section presents the latest figures in video format. It also explains a little about this report and its importance.
The education section is a little sparse on Markets.com. They only offer a few live webinars, and an economic events section.
At the moment, Markets.com only offers two webinars:
- Cryptocurrencies – Bitcoin
- Live Trading
They do have a disclaimer in the webinars. It states the materials are offered for promotional services. It also says no one is obligated to buy any of the investment services on offer. This implies that there is promotional content included in the webinar.
The economic events section presents some of the more important events that take place throughout the year. The explanations are short and not exactly helpful.
Safecap Investments Limited operates Markets.com. They are authorized and regulated by the Cyprus Securities and Exchange Commission, as well as the Financial Services Board in South Africa
The support center provides answers to most of the questions you might have regarding trading with Markets.com.
Pros and Cons
The pros of trading with Markets.com:
- Great support tools
- Lots of financial information
- User-friendly platform
- Extensive cryptocurrency-based pairs
The cons of trading with Markets.com:
- Limited educational resources
- No trailing stop
The Markets.com trading platform is well-designed with an attractive user interface. It’s relatively user-friendly and offers more than sufficient features for any trader.
If you’re looking for the complexity of MT4, you won’t find it here. However, that’s precisely what many will find attractive. It’s a simple platform and you don’t need a PhD to figure out how to use it.
However, what we really like about Markets.com is the multitude of support tools. From the analyst recommendations to the events and trade feature, we really appreciate how useful they are. These features certainly make trading much easier. They are also convenient since everything is available on the platform.
We are also looking forward to the new tools Markets.com is launching. We can’t wait to see how well they perform.
So, Markets.com is certainly a great option. However, if you are new to trading, you will need to search elsewhere for educational materials.
Markets.com offers very little in their education section. What is available seems to be almost an afterthought. Even the live webinars seem to be closer to sales pitches than educational.