Sheer Markets Forex Broker

Sheer Markets Information

　　Sheer Markets (Cyprus) Limited, established in 2019 and based in Cyprus, is a regulated brokerage firm under the supervision of the Cyprus Securities and Exchange Commission (CYSEC). It offers trading in Streaming Cash NDF CFDs, FX & EMFX CFDs, Crypto CFDs, and Equity, Indices & Commodity CFDs via the leading MT5 platform. Demo accounts are available and the minimum deposit requirement to open a live account is $200.

Pros & Cons

Is Sheer Markets Legit?

　　Yes. Sheer Markets is regulated by Cyprus Securities and Exchange Commission (CySEC).

　　It also implements Negative Balance Protection to safeguard its clients from incurring losses beyond their initial investment.

Market Instruments

Account Type

　　Apart from demo accounts, Sheer Markets provides customers with 4 live account types: Sheer Classic, Sheer Classic Plus, Sheer Prime, and Sheer Prime Plus.

　　Only the Plus accounts enjoy Free VPS Hosting and One-to-One Educator, whileMarket Analysis and Commentary is available for all account types.

Leverage

　　Sheer Markets offers varying leverage options based on the client's classification as either a retail client or a professional client.

　　For professional clients, the maximum leverage available is 1:100.

　　In contrast, retail clients are offered a maximum leverage of 1:30.

　　Leverage ratios are different between asset classes and financial instruments. The leverage options provided by Sheer Markets are listed below:

Spread & Commission

　　The spread structure provided by Sheer Markets is quite clear, which is very competitive, especially for the Prime Plus account - start from 0.0 pips.

　　And for the Classic account, the spread starts from 1.2 pips.

　　Sheer Markets also charges commissions which will vary on market instruments and account types.

　　You can check the table below:

　　To get detailed information on commission, you can check the “Fees Section” on their official website: https://www.sheermarkets.com/trading-conditions/fees/

Trading Platform

Deposit & Withdrawal

　　Sheer Markets only accepts deposits and withdrawals via Bank Wire Transfer. Other popular payment methods like Visa, Mastercard, Skrill, and Neteller are not available.

　　Two currencies are accepted, EUR and USD.

　　It does not charge any fees for deposits or withdrawals. However, you should be aware that you may incur fees on payments to and from some international banking institutions. Sheer Markets accepts no responsibility for any such bank fees.

　　Withdrawals are processed within 24 hours, yet depending on the withdrawal method, funds may take up to 5 business days to reach your bank account.

Customer Support

　　Clients can reach out to the support team via telephone at +357 25861400 or through email at support@sheermarkets.com.

　　Additionally, there is a contact form available on their website for inquiries and assistance.

　　The company's physical address is located at 331, 28th October Avenue, Lido House Block 2, Unit 365, 3106, Limassol, Cyprus.

Conclusion

　　As a broker, Sheer Markets supports leveraged trading, the MT5 trading platform, and demo accounts. It is currently regulated by the CYSEC. But their minimum deposit requirement of 200 USD may be too high for beginners. Anyway, be cautious while trading with any brokers.

Frequently Asked Questions (FAQs)

　　Is there a commission charged?

　　Yes. A commission will be charged and the amount will depend on trading different market instruments.

　　Does Sheer Markets charge transaction fees?

　　No.

　　Can I deposit using PayPal?

　　No. Sheer Markets does not accept third-party payments.

　　Does Sheer Markets support MT4/5?

　　Yes, it supports the MT5 trading platform.

　　Can I use a demo account to practice trading?

　　Yes.

　　Is Sheer Markets regulated or not?

　　Yes, it is regulated by the CYSEC.

Risk Warning

　　Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.