Status Markets Forex Broker

Status Markets Forex Broker - Complete Information Guide

1. Broker Overview

　　Status Markets, officially known as Marco Global Projects Ltd, was established in 2020. The company is headquartered in Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands. It operates as a private entity. Status Markets primarily serves retail clients interested in forex trading, offering a variety of trading instruments including currency pairs, commodities, and indices.

　　Since its inception, Status Markets has aimed to provide a trading platform that caters to both novice and experienced traders. The companys development has included the introduction of various account types and trading platforms designed to enhance user experience. However, the broker has faced scrutiny due to its lack of regulation, which raises concerns about the safety of client funds and the overall transparency of its operations.

　　As a forex broker, Status Markets operates on a retail forex model, allowing individual traders to access the forex market. Its business model is centered around providing trading services to a broad audience, leveraging technology to facilitate trading activities.

2. Regulation and Compliance Information

　　Status Markets is not regulated by any major financial authority, which is a significant red flag for potential investors. The company has been blacklisted by various regulatory bodies, including the Financial Conduct Authority (FCA), BaFin, and FSMA. This lack of regulatory oversight means that clients do not have the protections typically afforded by regulated entities, such as access to compensation schemes or regulatory recourse in case of disputes.

　　The absence of a regulatory license implies that Status Markets does not adhere to the stringent compliance requirements that govern the financial services industry. As a result, there are no known regulatory numbers associated with the broker.

　　Additionally, Status Markets does not provide clear information regarding the segregation of client funds, which is crucial for ensuring that client deposits are kept separate from the companys operational funds. The broker also lacks details on its Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, further highlighting the risks associated with trading through this platform.

3. Trading Products and Services

　　Status Markets offers a range of trading products primarily focused on the forex market. The broker provides access to over 100 currency pairs, including major, minor, and exotic currencies. In addition to forex trading, Status Markets also offers Contracts for Difference (CFDs) on various assets, including:

• Indices: Major global indices.
• Commodities: Including precious metals and energy products.
• Stocks: A selection of shares from various markets.
• Cryptocurrencies: Although specific cryptocurrency offerings were not detailed in the sources, brokers typically include popular options such as Bitcoin and Ethereum.

　　The frequency of product updates and the introduction of new trading instruments are not explicitly stated, which may indicate a lack of innovation in their product offerings. Status Markets primarily targets retail traders, providing them with the necessary tools to engage in forex trading.

　　For institutional clients, the availability of tailored services or white-label solutions was not mentioned, suggesting that the broker's focus remains on retail trading.

4. Trading Platforms and Technology

　　Status Markets supports MetaTrader 4 (MT4), which is widely recognized as one of the best trading platforms in the industry. This platform offers traders advanced charting tools, technical analysis features, and automated trading capabilities. In addition to MT4, Status Markets also provides a web-based trading platform, allowing users to trade directly from their browsers without the need for software installation.

　　The broker does not appear to offer a dedicated mobile application for trading on iOS or Android, which may limit accessibility for traders who prefer mobile trading.

　　As for execution modes, Status Markets operates on a Market Making model, which can sometimes lead to conflicts of interest, particularly if the broker benefits from clients losses. The specific details regarding server locations and the underlying technology infrastructure were not disclosed, leaving potential clients without crucial information about the reliability and speed of trade execution.

　　API access for automated trading was not mentioned, which may be a disadvantage for algorithmic traders seeking to implement trading strategies.

5. Account Types and Trading Conditions

　　Status Markets offers several account types to cater to different trading needs. The main account types include:

• Silver Account: Requires a minimum deposit of $250.
• Gold Account: Specific details regarding minimum deposits and benefits were not disclosed.
• Platinum Account: Offers additional benefits, but specific terms were not provided.

　　The trading conditions for these accounts, including spreads and commissions, were not explicitly detailed in the available sources. However, it is important to note that the broker offers leverage of up to 1:400, which is significantly higher than the limits set by many regulatory authorities, indicating a higher risk for traders.

　　The minimum trade size and overnight fees were also not specified, which could impact traders decision-making processes.

　　Additionally, the availability of a demo account allows new traders to practice without risking real funds, but further details on its features were not provided.

6. Fund Management

　　Status Markets supports several deposit methods, including credit/debit cards and bank transfers. However, the specific payment methods available were not fully detailed. The minimum deposit requirement for different account types is $250, which is standard for many brokers in the industry.

　　Deposits are typically processed quickly, but the exact processing times were not mentioned. It is important to verify if there are any associated fees with deposits, as this information was not clearly indicated.

　　For withdrawals, Status Markets claims to have a minimum withdrawal limit of $50. However, the withdrawal process can be complicated, and clients have reported difficulties in accessing their funds. The processing time for withdrawals was not disclosed, which raises concerns about the efficiency and reliability of the withdrawal system.

　　Additionally, any withdrawal fees or restrictions were not detailed, which could be a critical factor for traders when considering this broker.

7. Customer Support and Educational Resources

　　Status Markets offers customer support through various channels, including phone, email, and online chat. However, the availability of support in multiple languages was not specified, which may limit accessibility for non-English speaking clients. The service hours and time zone coverage were also not detailed.

　　The broker provides some educational resources, including webinars and tutorials, but the depth and breadth of these resources are unclear. Market analysis services, such as daily market reports and research, were not mentioned, which may be a disadvantage for traders looking for comprehensive market insights.

　　Additionally, trading tools such as calculators, economic calendars, and signal services were not specifically listed, leaving potential clients without clarity on the available resources to aid their trading decisions.

8. Regional Coverage and Restrictions

　　Status Markets primarily serves clients from various regions, but specific details regarding the markets they cover were not provided. The broker's regional offices and their distribution were also not mentioned.

　　However, it is crucial to note that Status Markets does not accept clients from certain countries, particularly those under strict regulatory scrutiny. The specific countries or regions where clients are restricted were not disclosed, which could pose risks for potential investors who may unknowingly fall under these restrictions.

　　Overall, the lack of transparency regarding regional coverage and restrictions could lead to complications for traders trying to engage with the broker.

　　In conclusion, while the Status Markets broker offers a range of trading products and platforms, the lack of regulation and transparency raises significant concerns for potential clients. Investors are advised to conduct thorough research and consider the risks associated with trading through unregulated brokers before making any financial commitments.