Key Takeaways
- Markets.com offers a range of account types to suit different trading needs, including demo accounts, classic accounts, premium accounts, professional accounts, spread betting accounts, corporate accounts, and Islamic accounts.
- The classic account is suitable for casual traders, while the premium account is designed for experienced traders. The professional account caters to high-volume traders, and the spread betting account is tailored for UK clients. The corporate account is for corporate traders, and the Islamic account follows Shariah principles.
- Each account type has specific features, such as available markets, commissions, platforms, trade sizes, leverage, and account opening requirements.
- Markets.com provides support for inactive trading accounts and charges an inactivity fee after three months.
When it comes to online trading, selecting the right trading account is crucial. It’s essential to consider factors such as trading goals, experience level, and specific requirements. Markets.com, a well-established brokerage, offers a variety of account types to cater to the diverse needs of traders. In this article, we will provide a comprehensive overview of each account type offered by Markets.com, including their features, benefits, and suitability for different traders.
Markets.com Demo Account
The Markets.com Demo Account serves as an excellent starting point for traders who want to practice their trading strategies in a risk-free environment. With a demo account, traders can familiarize themselves with the trading platform, test different strategies, and gain confidence before transitioning to a live trading account. Markets.com offers a free demo account that allows traders to explore the platform’s features and functionality.
Markets.com Classic Account
The Markets.com Classic Account is designed for casual traders who are looking for a straightforward trading experience. This account type is available under various regulatory bodies, including CySEC, FCA, ASIC, BVI FSC, and FSCA. Traders with a Classic Account have access to a wide range of markets, including forex, indices, commodities, shares, bonds, blends, ETFs, and cryptocurrencies.
The Classic Account features competitive spreads, starting from 0.6 pips on forex, and traders may incur rollover fees if they hold positions overnight. The available trading platforms for the Classic Account include Markets.com Trader, MT4, and MT5, though availability may vary depending on the trader’s location.
Markets.com Premium Account
The Markets.com Premium Account is tailored for experienced traders who require advanced trading features and tools. Similar to the Classic Account, the Premium Account is available under CySEC, FCA, ASIC, BVI FSC, and FSCA regulations. Traders with a Premium Account can trade a wide range of instruments, including forex, indices, commodities, shares, bonds, blends, ETFs, and cryptocurrencies.
This account type offers competitive spreads, starting from 0.6 pips on forex, and traders are subject to rollover fees for CFD assets. The Premium Account provides access to the same trading platforms as the Classic Account: Markets.com Trader, MT4, and MT5.
Markets.com Professional Account
The Markets.com Professional Account caters to high-volume traders who require higher leverage and advanced trading tools. This account type is available under CySEC, FCA, and ASIC regulations. Traders with a Professional Account have access to a wide range of markets, including forex, indices, commodities, shares, bonds, blends, ETFs, and cryptocurrencies.
The Professional Account offers spreads starting from 0.6 pips on forex and imposes rollover fees for holding CFD positions overnight. Traders can utilize the Markets.com Trader, MT4, and MT5 platforms, depending on their location. The Professional Account provides higher leverage of up to 1:100, allowing traders to amplify their trading positions.
Markets.com Spread Betting Account
The Markets.com Spread Betting Account is specifically designed for traders in the United Kingdom. This account type falls under the regulation of the FCA. Traders with a Spread Betting Account can trade forex, indices, shares, commodities, blends, bonds, and ETFs.
Spreads for the Spread Betting Account start from 1 pip on forex, and rollover fees apply to CFD assets. Traders can access the account through the MT4 and MT5 platforms. The account offers leverage of up to 1:30, allowing traders to speculate on price movements without owning the underlying assets.
Markets.com Corporate Account
The Markets.com Corporate Account caters to corporate traders who require specialized services and support. This account type is available under ASIC regulation. Corporate Account holders can trade forex, indices, commodities, shares, bonds, blends, ETFs, and cryptocurrencies.
The Corporate Account features spreads starting from 0.6 pips on forex, and rollover fees apply for holding CFD positions overnight. Traders can choose between the Markets.com Trader, MT4, and MT5 platforms, depending on their location. To open a Corporate Account, traders need to follow the standard account opening process and contact the Markets.com support teamfor further assistance and guidance.
Markets.com Islamic Account
The Markets.com Islamic Account is designed for traders who follow Shariah principles and require an account that complies with Islamic financial laws. This account type adheres to the principles of Islamic finance, ensuring that trades are conducted in a manner that is compliant with Islamic beliefs.
Islamic Account holders can trade a variety of markets, including forex, indices, commodities, shares, bonds, blends, ETFs, and cryptocurrencies. The account offers competitive spreads, starting from 0.6 pips on forex, and traders may incur rollover fees for holding CFD positions overnight. The available trading platforms for the Islamic Account include Markets.com Trader, MT4, and MT5.
Inactivity Fee and Account Support
It’s important to note that Markets.com charges an inactivity fee for trading accounts that have been inactive for three months or more. Traders should be aware of this fee and take it into consideration when managing their accounts.
Additionally, Markets.com provides comprehensive support for its traders. The brokerage offers a dedicated support team that can assist with any account-related inquiries or issues. Traders can reach out to the support team through various channels, such as phone, email, or live chat, depending on their preference.
Common Queries About Markets.com Account Types
1. Can I switch between different account types?
Yes, traders have the flexibility to switch between different account types offered by Markets.com. However, it’s important to review the specific requirements and conditions associated with each account type before making the switch.
2. Are there any deposit requirements for opening an account?
Yes, each account type has a minimum deposit requirement. For example, the Classic Account and Premium Account require a minimum deposit of $100 to open a live account. The specific deposit requirements may vary depending on the account type and the trader’s location.
3. Can I have multiple trading accounts with Markets.com?
Yes, traders have the option to open multiple trading accounts with Markets.com. This can be beneficial for those who want to segregate their trading activities or utilize different strategies for different accounts.
4. What is the difference between a demo account and a live account?
A demo account is a simulated trading account that allows traders to practice trading without risking real money. It is an excellent tool for learning and testing strategies. In contrast, a live account involves real money and actual trading in the financial markets.
Key Takeaways
- Markets.com offers a range of account types to cater to different trading needs, including demo accounts, classic accounts, premium accounts, professional accounts, spread betting accounts, corporate accounts, and Islamic accounts.
- Each account type has specific features, such as available markets, commissions, platforms, trade sizes, leverage, and account opening requirements.
- Traders have the flexibility to switch between different account types based on their evolving trading needs.
- Markets.com charges an inactivity fee for trading accounts that have been inactive for three months or more.
- The brokerage provides comprehensive support for its traders through a dedicated support team.
In conclusion, selecting the right trading account is essential for traders, and Markets.com offers a wide range of account types to accommodate various trading preferences. By understanding the features and suitability of each account type, traders can make informed decisions that align with their trading goals and strategies. Whether you are a beginner or an experienced trader, Markets.com strives to provide a comprehensive trading experience to meet your needs.
