MKNDY Ltd foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://user.mkndy.com/register/email?lang=en, about the company's legal and temporary regulatory information, the company's address .
MKNDY Ltd Forex Broker
Basic Information
United Kingdom
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
Earn Markets Forex Broker - Complete Information Guide
1. Broker Overview
Earn Markets, established in 2021, is an online trading platform operated by Top Markets Solutions Ltd. The broker is headquartered in Nicosia, Cyprus, and primarily serves retail clients across various global markets, including Europe and Africa. As a private entity, Earn Markets focuses on providing access to forex trading, CFDs, and other financial instruments.
Since its inception, Earn Markets has aimed to offer competitive trading conditions and a user-friendly platform. The company has experienced rapid growth, capitalizing on the increasing demand for accessible trading solutions in the forex market. With a commitment to transparency and customer service, Earn Markets has positioned itself as a reliable partner for traders seeking diverse investment opportunities.
The broker operates under a business model that emphasizes retail forex trading, allowing individual investors to participate in the foreign exchange market. While primarily focused on retail clients, Earn Markets also offers services tailored to institutional clients, including white-label solutions and asset management services.
2. Regulatory and Compliance Information
Earn Markets operates without valid regulatory oversight, which raises significant concerns regarding the safety of client funds and overall trustworthiness. The broker claims to be regulated, but it does not hold a license from any reputable authority, such as the Cyprus Securities and Exchange Commission (CySEC) or the Financial Conduct Authority (FCA).
The absence of regulatory supervision means that Earn Markets does not provide the protections typically afforded to clients of licensed brokers, including:
- Client Fund Segregation: There is no guarantee that client funds are held in segregated accounts, increasing the risk of misuse.
- Investor Compensation Fund: Earn Markets is not a member of any investor compensation scheme, which means clients have no recourse for recovering lost funds in case of insolvency.
- KYC and AML Compliance: While the broker may have KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures in place, the lack of regulatory oversight makes it difficult to ensure compliance with international standards.
3. Trading Products and Services
Earn Markets offers a diverse range of trading products, primarily focusing on forex and CFDs. The platform provides access to over 50 currency pairs, including major, minor, and exotic pairs. Additionally, clients can trade various CFD categories, such as:
- Indices: Major global indices allowing traders to speculate on market movements.
- Commodities: Including precious metals like gold and silver, as well as energy products like oil.
- Stocks: A selection of shares from various global markets.
- Cryptocurrencies: Popular digital assets are available for trading, catering to the growing interest in crypto investments.
The broker frequently updates its product offerings to meet market demand, ensuring traders have access to the latest instruments. However, specific details regarding the frequency of updates and the introduction of new products are not disclosed.
Earn Markets primarily targets retail traders, providing a platform that accommodates varying levels of trading experience. Although the broker does not explicitly mention services for institutional clients, it may offer tailored solutions upon request.
4. Trading Platforms and Technology
Earn Markets provides access to the widely used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are renowned for their user-friendly interface and advanced trading features. These platforms support various trading styles and strategies, making them suitable for both novice and experienced traders.
The broker also offers a web-based trading platform, allowing clients to trade without the need for software downloads. This platform is accessible from any device with an internet connection, ensuring traders can manage their accounts on the go.
In addition to the desktop and web platforms, Earn Markets supports mobile trading through dedicated apps for iOS and Android devices. This mobile accessibility enables traders to monitor their positions and execute trades anytime, anywhere.
The broker operates on an ECN (Electronic Communication Network) execution model, which provides direct access to liquidity providers, ensuring competitive pricing and minimal slippage. The technical infrastructure is designed to support high-speed trade execution, with servers located in secure data centers to enhance reliability.
Earn Markets also supports automated trading through APIs, allowing traders to implement algorithmic trading strategies and connect third-party trading systems.
5. Account Types and Trading Conditions
Earn Markets offers several account types to cater to different trading preferences and experience levels. The primary account options include:
- Standard Account: This account typically requires a minimum deposit of $100, with spreads starting from 1.0 pips and no commission fees.
- VIP Account: Designed for high-volume traders, this account offers lower spreads and additional benefits, though specific details are not disclosed.
- Islamic Account: Available for traders who require Sharia-compliant trading conditions, ensuring no interest is charged or paid.
- Demo Account: A risk-free option for new traders to practice their skills without financial commitment.
Leverage options vary by account type, with maximum leverage reaching up to 1:200 for forex trading. The minimum trade size is typically 0.01 lots, allowing for flexible trading strategies.
The broker charges overnight fees (swap rates) for positions held beyond the trading day, although specific rates are not detailed in the available information.
6. Fund Management
Earn Markets supports various deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirement varies by account type, with the standard account starting at $100.
Deposits are generally processed within 3 business days, although specific timeframes may vary based on the payment method used. The broker does not specify any deposit fees for standard methods, but clients should be aware of potential fees imposed by third-party payment providers.
Withdrawals can be made through similar methods, with processing times also estimated at 3 business days. However, clients may encounter fees associated with withdrawals, which are not explicitly detailed.
The broker's fund management policies raise concerns, particularly regarding the lack of client fund segregation and the absence of a transparent fee structure for withdrawals.
7. Customer Support and Educational Resources
Earn Markets provides customer support through multiple channels, including email, phone, and live chat. The support team is available 24/5, ensuring assistance is accessible during trading hours. The broker offers support in several languages, catering to its diverse client base.
In terms of educational resources, Earn Markets offers a range of materials, including:
- Webinars: Regular online seminars covering various trading topics.
- Tutorials: Step-by-step guides designed to help traders navigate the platform and improve their skills.
- E-books: Comprehensive resources that cover trading strategies and market analysis.
Market analysis services are also available, with daily updates, news reports, and research insights provided to help traders make informed decisions.
8. Regional Coverage and Restrictions
Earn Markets primarily serves clients in Europe and Africa, with a focus on providing accessible trading solutions. The broker has regional offices in various locations, enhancing its ability to cater to local markets.
However, specific countries where clients are not accepted have not been disclosed. It is essential for potential clients to verify the broker's availability in their region before opening an account.
Some restrictions may apply based on local regulations, particularly in jurisdictions with stringent financial laws. It is advisable for clients to familiarize themselves with their local regulations regarding forex trading and online investments.
In summary, while Earn Markets presents itself as a viable option for forex trading, potential clients should exercise caution due to the lack of regulatory oversight and transparency surrounding the broker's operations.
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Latest Reviews
FX3288246275
Pakistan
unreasonable 30% of tax payment of withdraw when costumer’s ask about it they deactivate accounts
Exposure
2022-03-29
FX3970630672
Vietnam
It's a professional scam organization, they will lure you to invest through dating apps, I got to know a girl with nik name: Nhi aki through tinder software Initially she will send love messages to you. friend to give you confidence then she will tell me what she does and how big her income is in forex investing. You will immediately become greedy. She introduced me to help me create an account through chat line software…, I was initially given $50 by mkndy ltd to trade with the reason for your experience. she guided me and sent me orders to trade. She then sweetly talked about her plan to make money with bigger trades after depositing $8000. Terrible to rob more than she urged me to borrow, mortgage assets to borrow from the bank. Current profit in my mkndy account is: $51148.64. when i want to withdraw money i have to pay 20% tax unreasonably. I am in danger of losing all my assets both capital and profit in mkndy. This was a big mistake in my life. I trusted the wrong people and invested in the wrong places. So be careful. The website www.mkndyltd.com is still active and appears to be legit. But they are scammers. They are not members of the FCA (UK) nor the NFA (USA). I report this fraud to law enforcement and the CFTC in the United States.” I hope you will enforce the law and make the scammers suffer.
Exposure
2022-03-21
FX3365398932
Spain
They invented an event for the first messages to claim a prize for reaching thousands of customers. I asked for my reward of 15 thousand for having 100 thousand. and what it was is that they asked me for that amount of 100 thousand to withdraw my money if they didn't tell me that the account is blocked. look for the money, enter it and they changed me to starekco and there towards my withdrawal. they invented something else, that my account was irregular when operating. All the transactions I was notified by a bait person who gains trust and said at what time the operation would come out with spectacular but false benefits. They have never allowed me to withdraw my money and they ask me for more to withdraw what I already have invested, which is 1.45 million usdt
Exposure
2022-04-19