TradeMarkets Review – Are Trader’s Funds Protected?

At first glance, this broker provides all the necessary transparency to attract traders. However, if you look better you will realize that their website visitors often come from prohibited countries.

With European headquarters, the company is obligated to follow certain rules and regulations. Indeed, they do, but why are there so many negative reviews then? Let’s find out in this comprehensive TradeMarkets review.

Who Is a TradeMarkets Broker?

TradeMarkets broker operates under the flagship of NBH Markets EU Ltd. The company is registered in Cyprus, known as the hub for trading companies.

Since 2013, the company provides FX and CFD trading services. However, not in some countries like USA, UK and Belgium. At least according to the company.

Regulation info

The company claims to be regulated by a trusted Cypriot regulator – CySEC. Indeed, checking their register we can see the broker listed.  On the positive side, there are funds protection features available with the broker. Such as segregated bank accounts and compensation funds. However, nowhere is mentioned negative balance protection.

According to the research, the company’s visitors mainly come from:

• United States
• United Kingdom
• India

Yet, they don’t have any UK(FCA) or US(CFTC or NFA) licenses. Therefore, you should check first with the domestic regulator does this broker comply with your laws.

TradeMarkets Profile

TradeMarkets exchange allows you to trade Forex pairs, but also CFD assets. Even though there are numerous trading options, some traders won’t find proprietary software suitable.

Unlike some other Tier 1 licensed brokers, TradeMarkets EU doesn’t offer MT or cTrader software. Generally, that can lose credibility with the broker. Especially after many negative reviews pointing to the potential issues.

Before you choose your broker we encourage you to check our TradesWiser, ThorFX and GIC Markets reviews.

Is This Broker Safe?

Generally speaking, yes. The company has the necessary European license. However, UK and US traders should opt for domestic licenses since those provide much higher security standards.

With quite a high commission for trading, this might be a costly option for most traders. Especially knowing that you won’t get cutting-edge technology. Instead, you are using a proprietary TradeMarkets platform without a dedicated desktop app.

Traders Reviews – Sharing Experiences

Even though the broker exists since 2013, the number of reviews is concerning. There are only 16 comments available at the moment. However, exactly 50% of those are rated with one star.

For such a licensed broker that is alarming. Especially if you look at the potential issues that traders are reporting. Mainly those are regarding the software and irregularities with account balances and unexpected losses. To avoid such discomfort, you can get in touch with our experts to find the most trusted broker options.

How TradeMarkets Platform Reach Clients and Who Are They?

Considering their concierge trading and copy trading options, those might be the most advertised features. After all, the company provides access to volatile instruments like crypto. These are often presented in a way that traders quickly jump on a deal.

Also, the broker has multiple social media accounts where they promote the latest trading news. But every post can lead to a new client.

Nevertheless, you shouldn’t make quick decisions. Instead, you can get our help in choosing the right and most secure brokers worldwide. Wherever you are coming from.

TradeMarkets Account Types

Obviously, TradeMarkets accounts are designed to motivate traders into higher deposits. Thus, on the account types with small print, the broker mentions MT4 and MT5. Yet, nowhere is to be seen access to that platform. Traders with deposits below $2.500 can’t have premium Trading Central signals. Also, the main difference between a Basic and a Premium account comes with commission.

In fact, even a $7 commission for a Premium account ($50.000 deposit) is still high. Not to mention a $20 commission for the “Trader account”. Another discrepancy is one on one seession. Instead of offering that when you are in the beginning, this broker offers it when you have a bigger deposit in the account.

Deposits and Withdrawal Methods

On the positive side, the company has transparent funding methods. In this case, traders can choose between:

• Bank transfers
• Credit and Debit cards
• e-Payments (Skrill, Neteller, GiroPay, PayPal, Sofort and iDeal)

The processing time may vary depending on the method, but most deposits are processed instantly. Except for wire transfers that may take up to 10 business days. Also, there are no TradeMarkets fees for deposits and withdrawals. In addition to that, due to regulatory compliances, you can’t expect a TradeMarkets bonus offer.

On the other hand, withdrawals are processed within the same or next business day. However, that amount reflected in your bank account might take a couple of days. Thus, there are way more conditions to maintain to get a withdrawal. Such as verification of your account which might take longer. Also, the broker can decline your withdrawal and suggest you alternative option.

Reasons To Avoid This Company

The main reasons why traders might choose other brokers are costs and trading software. Also, there is unclarity about guaranteed stop loss. Since some traders reported unexpected account balance drops to 0.

Even though the company has a demo account available, they don’t offer trusted third-party software. Such as Meta Trader. On top of all, commissions are quite high for lower accounts. Also, Islamic believers would leave the website disappointed because there is no suitable option for them.

General Conclusion of TradeMarkets Broker Review

Generally, there are many Tier 1 regulated brokers with more sophisticated offers. But even more importantly, with advanced trading tools, educational packages and funds protection features. Don’t jump blindly into any deal before you do your due diligence.

Let us help you analyze the broker’s offer and present you with the main pros and cons. Once you start understanding what to look for it’s way easier to choose the right company. Some facts are not visible on the company website. Therefore, get in touch with us for a first free consultation! Book yours today and start trading with a reputable broker within the next 24h hours.

FAQs