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SOHO MARKETS Forex broker specializes in providing foreign exchange trading services, the company's official website https://my.sohomarke..., the company's legitimate regulatory information CyprusCYSECStraight Through Processing (STP) to enhance the security of the company's address Spyrou Kyprianou 41 Avenue, Steratzias Court 2, 1st Floor, Flat 101, 4003, Mesa Geitonia, Limassol, Cyprus

SOHO MARKETS Forex Broker

Basic Information

Registered Region

Cyprus

Operating Period

Company Name

SOHO MARKETS GLOBAL LIMITED

Abbreviation

SOHO MARKETS

Company employee

Customer Service Email Address

support@sohomarkets.asia

Contact Number

+35725323120

Company Website

https://www.sohomarkets.eu/

Company Address

Spyrou Kyprianou 41 Avenue, Steratzias Court 2, 1st Floor, Flat 101, 4003, Mesa Geitonia, Limassol, Cyprus

Keywords

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

AspectInformationCompany NameSOHO MARKETSRegistered Country/AreaCyprusFounded Year2-5 yearsRegulationCyprus Securities and Exchange Commission (CYSEC)Minimum Deposit$100Maximum LeverageUp to 1:30SpreadsN/ATrading PlatformsMetaTrader4 (MT4)Tradable AssetsCurrency pairs, indices, commodities, metals, energy, cryptocurrenciesAccount TypesSTP Account, ECN AccountDemo AccountAvailableCustomer SupportPhone and EmailDeposit & WithdrawalWire transfers, credit/debit cards (MasterCard, VISA, Maestro), e-wallet processors (Skrill, Neteller, PayPal)Educational ResourcesMarket analysis, financial calendar, Forex Trading Academy, trading calculator, webinarsOverview of SOHO MARKETS SOHO MARKETS is an online forex broker based in Cyprus. Established within the past 2-5 years, the company operates under the regulation of the Cyprus Securities and Exchange Commission (CYSEC), ensuring compliance with industry standards and providing a level of credibility and trustworthiness to its clients. With a minimum deposit requirement of $100, SOHO MARKETS offers accessible entry to the forex market. The broker provides traders with the opportunity to access a wide range of financial instruments. This diverse selection allows clients to explore various markets and diversify their trading portfolios. Traders can utilize the popular MetaTrader4 (MT4) platform. SOHO MARKETS offers two types of trading accounts: STP Account and ECN Account.Is SOHO MARKETS legit or a scam? SOHO MARKETS is an online forex broker headquartered in Cyprus. It is registered with and regulated by the Cyprus Securities and Exchange Commission (CYSEC). This regulatory body oversees the operations of financial services companies, ensuring compliance with legal and ethical standards.Market Instruments Currency pairs, indices, commodities, metals, energy, cryptocurrencies..... SOHO MARKETS allows clients to access a huge range of trading markets. Soho Markets provides a diverse selection of financial products for trading. The Forex category includes major currency pairs such as EUR/USD, GBP/USD and USD/JPY, among others. The Metals consists of commodities like gold, silver, and platinum. The Energy section offers trading in oil and natural gas. The Commodities category includes agricultural products such as wheat and coffee. The Stocks category provides users with access to popular company shares from around the world. The Indices category provides users with exposure to the performance of a particular stock index, for example, the S&P500 or the Dow Jones Industrial Average. Lastly, the Crypto CFDs allows users to trade in cryptocurrencies such as Bitcoin, Ethereum and Litecoin.Pros and ConsProsConsRegistered and regulated by CYSEC, ensuring safety and credibilityLack of information on spreads offeredAccess to a wide range of financial instrumentsMaximum leverage offered is only up to 1:30User-friendly MetaTrader4 (MT4) trading platform availableLimited customer support options (no live chat)Variety of educational resources availableLack of transparency regarding deposit and withdrawal processMultiple deposit and withdrawal methods availableLack of commission-free trading options for some account typesAccount Types Demo Account: SOHO MARKETS provides a demo account that allows you to try out the financial markets without the risk of losing money. The Standard STP Account requires a $50 minimum deposit, offers leverage up to 1:500, and charges no commission with a 1.5 pips spread. It supports a contract size of 100,000 and a minimum trade size of 0.01 lots. The ECN Account requires a $20,000 minimum deposit, offers leverage up to 1:200, and charges a $6 commission with a 0.2 pips spread. It also supports a contract size of 100,000 and a minimum trade size of 0.01 lots.Account TypeStandard STP AccountECN AccountMinimum Deposit$50$20,000Account CurrencyUSDUSDMinimum FX Spread1.50.2Maximum Leverage1:5001:200Contract Size (FX)100,000100,000Trading PlatformPC, Mac, iOS, AndroidPC, Mac, iOS, AndroidMinimum Trade Size0.010.01Maximum Trade Size100100Maximum Position Limit200200Commission0$6How to Open an Account? To open an account with SOHO MARKETS, you can follow these steps: 1. Visit the SOHO MARKETS website and click the “START TRADING NOW” button. 2. Fill out the registration form with your personal information, including your name, email address, and phone number. 3. Choose your account type and select the base currency you want to use. 4. Provide additional information, such as your address and identification documents, to complete the verification process. 5. Fund your account with the minimum deposit required for your chosen account type. 6. Start trading on the platform. It is important to read and understand the terms and conditions of the broker before opening an account. Additionally, you should compare the fees, trading products, and customer support options with other brokers to ensure that SOHO MARKETS is the right choice for your trading needs.Trading Platforms The trading platform being described is MetaTrader4 (MT4), which can be downloaded and used to trade CFDs in over 100 financial instruments. The platform is known for being user-friendly and offering custom indicators to enhance the trading experience. Soho Markets provides access to this platform.Leverage SOHO MARKETS offers a maximum leverage of up to 1:30. However, it is important to note that the use of leverage can magnify profits and losses, especially for inexperienced traders. As such, traders should carefully consider their risk tolerance and choose an appropriate amount of leverage. It is also recommended to use risk management strategies when using leverage to mitigate potential losses.Deposit & Withdrawal SOHO MARKETS offers several deposit and withdrawal methods, including wire transfers, credit/debit cards (MasterCard, VISA, Maestro), and various e-wallet processors such as Skrill, Neteller, and PayPal. While the broker does not provide detailed information on their website regarding the deposit and withdrawal process, it is important to note that the speed of withdrawing funds is an important factor in evaluating a broker's reputation.Educational Resources SOHO MARKETS offers a range of educational resources to support traders in their journey. They provide market analysis, which includes regular updates and insights into market trends, news, and potential trading opportunities. A financial calendar is also available, allowing traders to stay informed about important economic events and their potential impact on the markets. SOHO MARKETS has a Forex Trading Academy, which provides educational materials, tutorials, and guides to help traders enhance their knowledge and skills in forex trading. Additionally, they offer a trading calculator, a useful tool for calculating potential profits, losses, and risk management parameters. Customer Support SOHO MARKETS provides multiple channels for customer support. They can be contacted through various means. Firstly, their physical address is located at Spyrou Kyprianou 41 Avenue, Steratzias Court 2, 1st Floor, Flat 101, 4003, Mesa Geitonia, Limassol, Cyprus. Additionally, customers can reach out to them via phone by dialing +357 25323 120. For any inquiries or assistance needed, customers can also send an email to support@sohomarkets.eu. If there are specific trading-related matters, such as order execution or trade-related inquiries, customers can contact the trading desk at dealing@sohomarkets.eu. These customer support channels offer various options for clients to seek assistance or address any concerns they may have with SOHO MARKETS.Conclusion In summary, SOHO MARKETS is a regulated online forex broker based in Cyprus, offering accessible entry to the forex market with a minimum deposit requirement of $100. The broker provides a diverse range of tradable assets through the MetaTrader4 (MT4) platform and offers STP and ECN account types, as well as a demo account for practice. With customer support available via phone and email, as well as educational resources and multiple deposit and withdrawal options, SOHO MARKETS aims to provide a comprehensive trading experience for traders of various levels of expertise.

SOHO MARKETS broker review

Is SOHO MARKETS safe or scam

Rating Index

How to login to SOHO MARKETS?

Soho Markets Complete Account Guide: Registration, Account Opening, and Login Processes Soho Markets is a robust online trading platform providing users with access to various financial instruments, including Forex, commodities, stocks, and cryptocurrencies. This guide will walk you through the esse

Soho Markets Forex Broker - Complete Information Guide

1. Broker Overview

Soho Markets, officially known as Vstar & Soho Markets Ltd, was established in 2022 and is headquartered in Limassol, Cyprus. This private company operates within the financial services sector, specifically focusing on retail forex trading and providing access to various financial instruments. Since its inception, Soho Markets has aimed to cater to a diverse clientele, including both novice and experienced traders, primarily in the European Economic Area (EEA) and parts of Southeast Asia.

The company has made significant strides in a short period, achieving regulatory compliance and establishing a reputation for transparency in its operations. As a relatively new player in the forex brokerage market, Soho Markets is still in the early stages of building its brand and client base. The broker operates under the ownership of Vstar & Soho Markets Ltd, which underscores its commitment to providing reliable trading services.

Soho Markets operates primarily in the retail forex market, offering a range of services that include trading in forex, commodities, indices, shares, and cryptocurrencies. The broker's business model focuses on providing a user-friendly trading experience through the use of advanced technology and robust trading platforms.

2. Regulation and Compliance Information

Soho Markets is regulated by the Cyprus Securities and Exchange Commission (CySEC), holding license number 409/22 since January 2022. This regulation places the broker within a framework that mandates compliance with strict financial standards and operational guidelines, ensuring a level of security for traders.

In addition to CySEC, Soho Markets is also registered with various international regulatory bodies, including the Financial Services Commission (FSC) in Mauritius and other entities across Europe. These registrations allow the broker to operate across multiple jurisdictions, enhancing its credibility in the global market.

The broker adheres to several key compliance measures:

Customer Funds Segregation: Client funds are held in segregated accounts separate from the brokers operational funds, providing an additional layer of security.
Investor Compensation Fund: As a member of the Investor Compensation Fund, clients are eligible for compensation of up to €20,000 in the event of broker insolvency.
KYC and AML Compliance: Soho Markets implements Know Your Customer (KYC) and Anti-Money Laundering (AML) policies to prevent fraud and ensure the integrity of its operations.

The regulatory framework ensures that Soho Markets broker operates within the confines of the law, providing clients with a safer trading environment.

3. Trading Products and Services

Soho Markets offers a diverse array of trading products that cater to various investment strategies. The broker provides access to:

Forex: A wide selection of currency pairs, including major, minor, and exotic pairs.
CFDs on Indices: Traders can invest in major indices such as the S&P 500, FTSE 100, and AU 200.
Commodities: Trading options include natural gas, crude oil, and precious metals like silver.
Shares: Clients can trade shares of prominent companies such as American Airlines, Mastercard, and Facebook.
Cryptocurrencies: The broker supports trading in popular cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH).

The range of products available allows traders to diversify their portfolios and explore various market opportunities. However, traders should note that the broker's spreads may not be as competitive as those offered by tier 1 regulated brokers, which can affect overall trading costs.

4. Trading Platforms and Technology

Soho Markets primarily utilizes the MetaTrader 4 (MT4) trading platform, a well-established choice among traders due to its user-friendly interface and comprehensive trading tools. The MT4 platform supports:

Advanced Charting Options: Traders can utilize over 30 technical indicators and multiple timeframes to analyze market trends effectively.
Automated Trading: The platform allows for the use of Expert Advisors (EAs), enabling automated trading strategies and backtesting capabilities.
Multi-Device Compatibility: The MT4 platform is accessible on desktop, web, and mobile devices, ensuring traders can manage their accounts on the go.

While Soho Markets does not offer a proprietary trading platform, the MT4 environment provides robust functionality and reliability. The broker's infrastructure supports fast execution speeds, which is essential for traders looking to capitalize on market movements.

5. Account Types and Trading Conditions

Soho Markets provides two primary account types for traders:

Standard STP Account: Requires a minimum deposit of $200 and offers spreads starting from 1.2 pips.
ECN Account: Requires a minimum deposit of $10,000 and provides access to tighter spreads starting from 0.2 pips.

The leverage offered by Soho Markets is capped at 1:30, which complies with EU regulations aimed at protecting retail traders. This leverage ratio is suitable for both new and experienced traders, allowing for manageable risk exposure.

However, the broker's policy on demo accounts is somewhat unconventional; access to a demo account is contingent upon making a deposit first, which may deter potential clients who wish to explore the platform without financial commitment.

6. Fund Management

Soho Markets supports a variety of deposit and withdrawal methods to facilitate client transactions:

Deposit Methods: Options include credit/debit cards, bank wire transfers, and e-wallets such as Skrill, Neteller, and PayPal.
Minimum Deposit: The minimum deposit requirement varies by account type, with a standard account starting at $200.
Deposit Processing Time: Deposits are generally processed quickly, though the exact time may vary depending on the payment method used.
Withdrawal Methods: Clients can withdraw funds using the same methods available for deposits, with potential processing fees for transactions under $2,000, which incur a 2% fee.
Withdrawal Processing Time: Withdrawal requests are typically processed within a few business days, but delays may occur depending on the method chosen.

The fee structure, particularly the deposit fees for lower amounts, may be considered a downside for traders seeking cost-effective trading options.

7. Customer Support and Educational Resources

Soho Markets provides multiple channels for customer support, including:

Phone Support: Available at +357 25323 120.
Email Support: Clients can reach out via support@soho markets.eu.
Live Chat: An online chat feature is available on the broker's website for immediate assistance.

The customer support team is reported to be responsive and available to assist clients in various time zones. The broker supports multiple languages, including English, Greek, Spanish, Italian, and Romanian.

In terms of educational resources, Soho Markets offers a variety of tools to help traders enhance their skills, including:

Market Analysis: Daily market insights and analysis reports.
Forex Trading Academy: Educational materials and tutorials for traders of all experience levels.
Trading Tools: Resources such as calculators, financial calendars, and trading signals are available to assist clients in their trading endeavors.

These resources aim to empower traders with knowledge and tools necessary for informed decision-making.

8. Regional Coverage and Restrictions

Soho Markets primarily serves clients in the EEA and Southeast Asia, with a specific focus on countries such as:

United States
United Kingdom
Sweden
Australia
United Arab Emirates

Despite claiming to accept clients from these regions, it is important to note that some jurisdictions have stricter regulations than CySEC. For instance, trading in the UK requires an FCA license, which Soho Markets does not possess.

This may limit the broker's ability to operate freely in certain markets, and potential clients should verify the legal implications of trading with this broker in their respective countries.

In conclusion, while Soho Markets broker presents a range of trading opportunities and regulatory compliance, potential clients should carefully consider the broker's policies, fees, and regional restrictions before proceeding with their trading activities.

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