MarketsX Review:
Best CFD & Forex Broker in 2020

As one of the best forex brokers and CFD brokers in the world, MarketsX has been in the market since 2010 and offered CFD and FX Forex trading options to online traders.

In the United Kingdom, MarketsX is governed by (FCA): Financial Conduct Authority. In Cyprus they are under governance by Securities and Exchange Commission (CySEC). There are 2 more markets that they are regulated and that is Australia and UK.

In terms of safety, even though they do not hold a banking license or listed on stock exchange but being regulated in certain markets is a positive signal to categorize them as a safe broker, So, they maintain a good reputation as a safe broker.
The portfolio of products and services that MarketsX offers are mainly around Forex, CFD, Crypto. They also offer Blends but we all know that it is kinda CFD. We have analysed over 31 Tier-1 online brokers & online trading paltforms, and rated MarketsX as an option for:

Best broker for CFD

Best forex broker

High Forex fee Online Broker

Low CFD fee Online Broker

You can also find other options and review the best forex brokers or glance through our list of best CFD brokers that our editorial team has reviewed this month, alongside other online brokers.

MarketsX Pros and Cons

Since 2010. MarketsX offers low-fee CFD trading options and also high-forex-fee too.

Using their online trading platform is easy and account opening process is pretty fast and smooth. They have fast and free of charge withdraw process. When it comes to fees, forex trading leads to higher cost than any CFD..

Apart from their High financial fees, the other flip side of the coin is MarketsX 's limited portfolio.

If you wish to compare MarketsX with other alternativve online Brokers, click here, otherwise keep reading.

Best broker for
Forex & CFD

Trade Now

Account Fees:

NO

Minimum deposit:

$250 in UK

Withdrawal Fees:

Free

Investor Protection:

£85,000 for UK residents, €20,100 for Europe

Regulated:

YES, UK, Cyprus, Poland, Belize

Customer Support:

Live Chat, Phone, Email

Demo Account:

YES

Trading Options:

CFD, Blends,
Crypto, Forex

Expert rating:

Online Trading Platform: Desktop, Mobile, Web

Commission rating:

Research rating:

Education rating:

Overall Ranking:

4.2 / 5

Deposit & Withdrawal Type:

Free / Bank Transfer, Credit/Debit card, Electronic wallets

Open Account

MarketsX Pros and Cons

Since 2010. MarketsX offers low-fee CFD trading options and also high-forex-fee too.

Using their online trading platform is easy and account opening process is pretty fast and smooth. They have fast and free of charge withdraw process. When it comes to fees, forex trading leads to higher cost than any CFD..

Apart from their High financial fees, the other flip side of the coin is MarketsX 's limited portfolio.

If you wish to compare MarketsX with other alternativve online Brokers, click here, otherwise keep reading.

How Much is MarketsX Fees

There are Pros and Cons here too.
The fees for S&P 500 CFD, Europe 50 CFD, EUR USD are built into spread.
✓ For S&P 500 CFD the fee is 0.4 average spread cost, which is considered to be low.
✓ For Europe 50 CFD the fee is 1.6 average spread cost, which is considered to be low.
✕ For EURUSD the fee is 0.6 pips average spread cost, which is considered to be high.
✓ There is $10 monthly inactivity fee after a quarter.

TIP: In reality it can take couple of business to deposit via bank transfer, Yet credit card and debit cards are done instantly.
Some other positive points are:

Pros

Free withdrawal and no cost for deposit

Low CFD fees

Smooth Account opening

Opening account is fast and seamless

Cons

Trading fees are High

No Support during Weekends

Portfolio is limited to CFD & Forex Only

Trading Vs Non-Trading fees

Thats not all the fees
As you can see in the table above we ranked MarketsX fees (in the table in 3 different categories: from low, average to high) compare to 2 other competitors and brokers: Plus500 and eToro
Well, you need to keep an eye on broker fees such as trading fees and non-trading fees too.

Trading fees are very easy to understand. Those fees are there only when you trade anything.
Trading fees come in formes of:

Now it's time for Non-trading fees
These charges are not 100% related to what you trade. You have seen them in the table above. they are fees such as withdrawal and inactivity fees.

MarketsX

Best Online broker for CFD, Forex

---

4.2

Minimum Deposit

$250

Trade Now

MarketsX Trading fees

MarketsX , which is primarily known as a forex or CFD broker offers 2 types of accounts. as standard account holder you pay spreads and as pro account you shall pay commissions which is $4/€3.5/£2.5 per every lot. The commission for trading stock index CFDs is $8/€8/£8, for ETF CFDs and stock contract for difference.
Let's deep dive and have a look at MarketsX 's fees for stock, forex and CFD fees. we will also run a comparison table with two big brokers to show you the difference.
The Scenario is running this way: A typical trade means buying a leveraged position, holding it for 7 days and only sell after that period.
* Volume: a $2,000 position for the stock Index
* Volume: a $2,000 position for CFD
* Volume: $20,000 for the forex transactions.
The leverage in this scenarios is:
• 20:1 stock index CFDs
• 5:1 CFD
• 30:1 forex
• Stock CFDs are Apple & telecommunication giant Vodafone


Here is the tabular view of MarketsX 's fees and side by side comparison with other 2 brokers.

One good thing about MarketsX is that it operates in majority of countries except the following countries:

The minimum deposit is $250, and you can select your preferred base currency from the following: 9 base currencies: DKK, NOK,USD, EUR, GBP, PLN, SEK, ZAR, AUD.
To start trading MarketsX does not charge any deposit fees, but you ought to remember that in order to deposit money you have to use funding sources that are in your own name. If you are ready to trade, go ahead and use the live account, If not MarketsX offers a demo account to practice.

MarketsX 's Online Trading Platform

MarketsX does not offer desktop platform but it provides you with decent mobile trading app, and web trading platform. In comparison with other online trading platforms, it really look nice and easy to use. One fun part is the search functionality. They have an inhouse online trading platform that you can use or you may use the 3rd party tool called MetaTrader 4.

If you want to trade on to go, you may use mobile trading platforms on your android and ios device. it gives you the flexibility of mobile as well as some cool features such as push notifications or enhanced touch experience to act by swiping right or left.
Unfortunately, you can not setup two-step login feature in your profile.
The UI & UX of MarketsX trading platform is unique and user friendly.
At a glance it looks like this:



You should not be worried if English is not your strength, because MarketsX online trading platform is available in the following19 languages: In middle east it covers Arabic, Bulgarian, Simplified Chinese, Czech, French, German, Hungarian, Italian, Japanese, their origin language of Polish, then Romanian, Russian, Slovenian, Portuguese & Spanish languages, Thai, Turkce for Turkish citizens, Vietnamese and of course English.

When it comes to trading, customer service plays a good role.
Overall, MarketsX customer support team responds fast via email (but they don't support you on weekends). They have a live chat and offer help in English.

MarketsX

Best Online broker for CFD & Forex Trading

---

4.2

Minimum Deposit

$250

Trade CFD Now

What can you trade on MarketsX

The trading options that are available to you at MarketsX are:

CFD

Forex

Cryptocurrency

When you buy with no leverage (leverage=1) you buy real stocks and not contract for difference. That's why Non-leveraged buy positions for equities, ETFs and cryptocurrencies (digital currency) are traded as real assets. (Be aware of the risks of price movements / we have no info at this moment about fiat currencies)
All other positions are kind of contract for difference (this applies to cfd traders). An example could be leveraged buy positions and all sell positions of stocks, ETFs and cryptos as well as all forex, commodities and indices positions.

Tip: Changing the leverage manually is a very useful feature when you want to lower the risk of a trade. For instance, rather than trading with X:1 leverage (x higher than Y), only trade with Y:1 leverage for stock CFDs. Please be reminded that forex and CFD trading default leverages are high, don't gamble.

Trade Online Now Important Tip: You can not change the default leverage level of the products.

Currency pairs:

55

Stock index CFDs:

11

Stock CFDs:

2000

ETF CFDs:

42

Commodity CFDs:

17

Bond CFDs:

4

Future CFDs:

--

Crypto:

5

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Disclaimer: Indicative prices; current market price is shown on the broker's trading platform. Past performance is not an indication of future results. The trading history presented is less than 5 years old and may not suffice as a basis for investment decisions. This post is not investment advice.

How to open account on MarketsX .

You can expect a very easy, smooth and professional process to open your account with Markets X. All you need is an email or a social platform login
You don't want to wast time, so do they. therefore, you will get your account opened in 1 day.
You can immediately use your demo account or you can proceed with verification and start using your live account.

However, if you decide to move forward as a trader and work with real money and real shares or trades, get ready to provide your passport or ID along with proof of residency (something like a utility bill or bank statement). In some cases a video verification might be asked too. Well, its more than easy to place an order and you will be guided throughout the process.
in brief follow these 6 steps for account opening at MarketsX :

1. Get ready with you email address
2. Select the country of residency.
3. Provide demographic data
4. Choose your preferred online trading platform
5. Select your account type & base currency.
6. Provide identity and residency proof for activation.

Performance Tracking

Tip about away times:
You can set alerts and notifications on MarketsX and customise it. For instance, your alert can be set for a time that an asset reaches certain price target. One negative point here is that you can not set alarm for order confirmation.
No matter you use desktop, web or mobile for your trading, you can get different kind of notifications.

I will put it simply, whether you need a pie chart, or list of assets, you can easily generate it and track the performance of your portfolio in MarketsX , It's kinda easy and you can see a structured cash flow and other financial related reports.
MarketsX offer news feed too and it is all produced by in-house research team but the content is not that visually appealing.

Finally, Research & Education

Alright, if you are looking for fancy videos and a lot of videos to begin with, besides our top 10 best blog, you can find a lot of educational materials at MarketsX. We have hundreds of pages and detailed reviews and tools, guides and articles (We do not offer investment advice and guarantees).
MarketsX education is decent, there are videos, webinars, articles and more about trading and also their trading platforms that works for beginners and experienced traders.

You will get a demo account and sufficient balance to begin practicing.
The Research part is also comparatively strong. for instance, they have a feature called 'Market sentiment' that illustrates the log and short positions of percentage of the clients. MarketsX offers one more fancy tool called the 'Heatmap,' that visually shows the winners and losers.
On the Contrary, when it comes to research it offers decent technical analysis tools (in 21 languages) that engages you with good UI and user friendliness environment, nice interactive charts, and some recommendations about analysis and ideas on trading.
for instance, only for a limited number of well-known products, there are recommendations such as hedge fund and insider trading sentiment, or (buy/hold/sell) also known as analyst consensus, and average price target analysis.

The charts and charting feature is pretty good. They also offer trading Ideas.

Our Take

After careful evaluation, even though it has high forex trading fees, we believe MarketsX is among top-tier best CFD brokers in 2020.
Couple of reasons could be it's regulation, as it is supervised by several financial authorities globally. The easy to use trading platform that they offer is an advantage for online trader on the go.

Good thing is that MarketsX's CFD fees are comparatively low, and they allow you to withdraw for free and it's done pretty fast. No need to talk about the fully automated account opening process that enables you to get started ASAP.
On the negative side, biggest negative point on MarketsX is its high financial fees and limited portfolio of CFD and Fx Forex trading. Overall it's a trustworthy brokerage to use.

MarketsX

Best Online broker for CFD & Forex

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4.2

Minimum Deposit

$250

Start Trading