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In this comprehensive review of Marketstrading, we delve into the experiences of users and expert opinions on this broker. Overall, the feedback is overwhelmingly negative, with numerous reports of scams and unregulated practices. Key findings include a lack of regulatory oversight and persistent issues regarding withdrawals and customer service.
Note: Its essential to be aware that Marketstrading operates under various entities across different regions, which complicates its regulatory status and accountability. This review synthesizes information from multiple sources to ensure fairness and accuracy.
Category | Rating (out of 10) |
---|---|
Account Conditions | 2 |
Tools and Resources | 3 |
Customer Service and Support | 1 |
Trading Setup/Experience | 2 |
Trustworthiness | 1 |
User Experience | 1 |
We assess brokers based on a combination of user feedback, expert analysis, and factual data.
Marketstrading appears to be an unregulated forex broker, operating under the name Marketstrading Ltd. Based on various reviews, it has been reported to provide access to a trading platform called Tradersoft, which is known for its straightforward interface. However, the platform's reliability and security have been questioned. The broker claims to offer over 180 underlying assets, including major currency pairs, commodities, and stocks. Notably, Marketstrading lacks proper licensing from any recognized regulatory authority, which is a significant red flag for potential investors.
Marketstrading is not regulated by any reputable financial authority, which raises significant concerns about its legitimacy. According to multiple sources, including Scam Broker Investigator and Forex Peace Army, the broker operates offshore and does not adhere to the standards set by regulatory bodies such as the FCA or ASIC. This lack of regulation is a critical factor in determining the trustworthiness of any broker.
Marketstrading accepts various currencies for deposits, although specific details on withdrawal currencies are less clear. Many users have reported difficulties in withdrawing their funds, indicating potential issues with the broker's financial practices.
The minimum deposit required to open an account with Marketstrading is reportedly $250, which is relatively standard in the industry. However, many reviews highlight that once funds are deposited, users face significant challenges when attempting to withdraw their money.
Marketstrading offers bonuses of up to 100% for new accounts, a common practice among unregulated brokers. However, users have reported that these bonuses come with stringent trading volume requirements, making it difficult to withdraw funds later. This tactic has been flagged by several users as a potential scam.
The broker claims to offer a wide range of tradable assets, including forex pairs, commodities, indices, and cryptocurrencies. However, user experiences suggest that the trading conditions may not be as favorable as advertised.
While specific details on spreads and fees are not consistently reported, many users have expressed dissatisfaction with the overall cost of trading with Marketstrading. Complaints about hidden fees and unfavorable trading conditions are prevalent among user reviews.
Marketstrading offers leverage options, but again, specific details are scarce. Users have raised concerns about the risks associated with high leverage, especially when combined with the broker's lack of regulation.
Marketstrading primarily uses the Tradersoft platform, which is designed to be user-friendly for beginners. However, the platform's reliability has been questioned due to the broker's overall reputation.
Marketstrading does not clearly outline which regions it restricts service to, but the lack of regulation suggests that it may be operating in multiple jurisdictions without proper oversight.
Customer support at Marketstrading has been widely criticized, with many users reporting unresponsive service and difficulties in communication. The languages supported are not explicitly mentioned in the reviews, indicating potential limitations in customer service.
Category | Rating (out of 10) |
---|---|
Account Conditions | 2 |
Tools and Resources | 3 |
Customer Service and Support | 1 |
Trading Setup/Experience | 2 |
Trustworthiness | 1 |
User Experience | 1 |
Marketstradings account conditions are deemed poor, with many users reporting issues related to withdrawal and account management. The lack of regulatory oversight contributes to a low trust score.
The tools available on the Tradersoft platform may be basic, with limited educational resources for traders. This has been a common complaint among users seeking more comprehensive trading tools.
Customer service is perhaps the weakest aspect of Marketstrading, with numerous reports of unresponsive support teams and unresolved issues regarding fund withdrawals.
Users have reported a frustrating trading experience, often linked to the broker's lack of transparency and reliability. Many have expressed concerns about the legitimacy of trades executed on their behalf.
The overwhelming consensus among reviewers is that Marketstrading is not a trustworthy broker. The lack of regulation and numerous scam allegations contribute to a very low trust rating.
Overall user experience has been rated poorly, with many traders feeling deceived and frustrated by their interactions with Marketstrading.
In conclusion, the Marketstrading review reveals a broker that is fraught with issues, particularly concerning trust and customer service. Potential traders are strongly advised to consider these factors before engaging with this broker.