Overview
U.S.-based Firm 51Markets Is In A Grey Area When It Comes To Regulation As It Is Not Regulated By Any Accredited Financial Institution Group. Founded In 2020, The Firm Offers Multiple Account Types With Different Minimum Deposit Amounts, But Concerns About Its Legality And Security Are High Due To The Lack Of Regulation. While It Claims Maximum Leverage Of 1:400 And Competitive Spreads, There Are Issues With Customer Support, Including Slow Response Times And Inconsistent Quality, Which Affects The Overall Trading Experience. Additionally, Allegations Of Website Issues And Alleged Fraud Have Further Fueled Suspicions About The Broker. Their Educational Tools Are Noticeably Missing. In Conclusion, 51Markets Presents Significant Risks And Choosing This Firm Is Risky For Traders Seeking A Safe And Secure Trading Environment.
Regulation
51Markets Is Not Regulated By Any Accredited Financial Institution Group, Which Raises Concerns About The Legitimacy And Safety Of This Broker. Regulation Is Essential To Ensure That Brokers Adhere To Strict Standards And Practices To Protect The Interests Of Traders And Investors. Lack Of Regulation Means That There May Be Limited Oversight And Accountability For The Firm's Operations, Which Could Put Traders At Risk Of Fraud Or Other Unethical Practices. When Considering Choosing 51Markets As A Broker, It Is Advisable To Proceed With Caution And Explore Regulated Alternatives To Ensure A Higher Level Of Security And Protect Your Investments
Pros And Cons
51Markets, An Unregulated Broker, Provides Traders With A Variety Of Market Instruments And Account Types. However, It Lacks Educational Resources And Has Problems With Customer Support Responses. In Addition, Reported Website Issues And Allegations Of Fraud Have Raised Concerns About Its Credibility And Security. To Sum Up, 51Markets Offers A Variety Of Trading Options And Account Types, But Its Lack Of Regulation And Limited Educational Support Have Created Significant Concerns For Traders. Issues With Customer Support Responsiveness Further Hamper The Overall Trading Experience, While Allegations Of Fraud And Website Issues Add To Doubts About Its Trustworthiness And Security. Traders Should Exercise Caution And Explore Regulated Alternatives For A More Secure And Supportive Trading Environment.
Market Tools
51Markets Offers A Variety Of Market Tools To Suit Different Trading Preferences And Strategies. These Tools Include:
Forex Trading: 51Markets Provides Access To The Forex Market, Allowing Traders To Trade Currencies. This Includes Major Currency Pairs Such As EUR/USD, GBP/USD And USD/JPY, As Well As Many Major And Exotic Currency Pairs.
Commodities: This Broker Offers Trading In Commodities, Allowing Traders To Speculate On Price Fluctuations In Physical Commodities. This May Include Popular Commodities Like Gold, Silver, Crude Oil, And Agricultural Commodities Such As Wheat Or Corn.
Indices: 51Markets Provides Access To A Variety Of Stock Market Indices From Around The World. Traders Can Participate In Index Trading, Which Involves Speculating On The Overall Performance Of Stock Market Indices Such As The S & P 500, NASDAQ, Or FTSE 100.
Precious Metals: Traders Can Participate In Trading In Precious Metals, Including Metals Such As Gold And Silver. Precious Metals Are Often Viewed As Safe-haven Assets And Can Be Used As A Hedge Against Portfolio Diversification And Economic Uncertainty.
Cryptocurrencies: 51Markets Offers The Opportunity To Trade Cryptocurrencies, Including Popular Options Such As Bitcoin (BTC), Ethereum (ETH), And Other Altcoins. Cryptocurrency Trading Allows Traders To Speculate On The Price Fluctuations Of Digital Assets.
It Is Important To Note That While These Market Instruments Can Provide Profit Opportunities, They Also Come With Risks. Traders Should Conduct Thorough Research, Develop A Clear Trading Strategy, And Consider Risk Management Practices When Conducting Trading Activities With 51Markets Or Any Other Broker. Additionally, Due Diligence Should Be Conducted To Ensure The Legitimacy And Regulatory Standing Of The Broker.
Account Types
51Markets Offers Multiple Account Types To Meet The Needs Of Traders With Different Preferences And Experience Levels.
Silver Account:
Silver Account Is An Entry-level Option With A Minimum Deposit Requirement Of $500. It Offers Competitive Spreads With A Starting Spread Of 1.5 Pips And A Maximum Leverage Of 1:100. Traders With Silver Accounts Can Use The Popular MetaTrader 4 (MT4) Trading Platform, Suitable For Beginners And Intermediate Traders. Customer Support Is Provided During Standard Working Hours, And Traders Have Access To Basic Market Analysis And Research Reports. In Addition, Silver Account Holders Receive Daily Market Updates Via Email To Help Them Stay Up To Date With Market Dynamics.
Gold Account : A Gold Account Is A Great Option For Traders Looking For More Advanced Features. The Minimum Deposit Requirement Is $5,000 And Tighter Spreads Are Available From 1.0 Pips. The Leverage Ratio Has Been Increased To A Maximum Of 1:200, Making Trading More Flexible. Gold Account Holders Can Use Both The MetaTrader 4 (MT4) And MetaTrader 5 (MT5) Platforms. They Enjoy Priority Customer Support, Extended Service Hours, And Access To Comprehensive Market Analysis, Including Daily Trading Signals. Gold Account Holders Also Have Access To Support From A Personal Account Manager To Assist With Developing Trading Strategies And Answering Questions.
Platinum Account:
51Markets' Platinum Account Is The Ultimate Choice For Experienced And High Net Worth Traders. The Minimum Deposit Requirement Is $25,000 And The Tightest Spreads From 0.5 Pips Are Offered. Traders Receive Leverage Of Up To 1:400, Allowing Them To Take Advantage Of Larger Positions. This Account Level Offers Multiple Trading Platforms, Including MetaTrader 4 (MT4), MetaTrader 5 (MT5), And A Proprietary Trading Platform Tailored For Advanced Trading Strategies. Platinum Account Holders Enjoy Exclusive 24/7 Premium Customer Support, Ensuring Assistance When Needed. They Receive Exclusive Market Insights And Trading Signals That Give Them A Competitive Edge In Their Trading Activities.
Leverage
This Broker Offers Maximum Trading Leverage Of Up To 1:400, Enabling Traders To Control Larger Position Sizes Relative To Their Capital. However, High Leverage Increases Potential Profits And Losses, So Responsible Use And Effective Risk Management Strategies Are Required. Leverage Levels May Vary From Broker To Broker And May Be Subject To Regulatory Restrictions In Certain Regions. Traders Should Always Be Aware Of Their Broker's Leverage Terms And Adopt Prudent Risk Management Practices.
Spreads And Commissions
Spreads:Silver Accounts: Silver Accounts Offer Competitive Spreads Starting At 1.5 Pips. These Spreads Represent The Difference Between The Buy (sell) Prices Of A Trading Instrument. A Spread Of 1.5 Pips Means That Traders Can Expect Modest Trading Costs, Suitable For Those Seeking A Balance Between Cost-effectiveness And Trading Conditions.
Gold Accounts: Gold Accounts Offer Tighter Spreads Starting At 1.0 Pips. This Means That Traders May Benefit From More Favorable Pricing Compared To Silver Accounts. A Tighter Spread Of 1.0 Pips Has The Potential To Reduce Trading Costs And Is Very Attractive To Cost-conscious Traders.
Platinum Account: Platinum Accounts Offer A Tighter Spread With A Minimum Of 0.5 Pips. These Extremely Low Spreads Are Designed To Benefit Experienced And High Net Worth Traders. The 0.5 Pip Spread Indicates That Traders At This Level Can Access Extremely Competitive Pricing, Which Is Especially Beneficial For High Volumes Of Trading Activity.
Commission:
Silver Account: This Description Does Not Specify Any Commissions For Silver Accounts. This Suggests That Silver Accounts May Employ A Spread-only Pricing Model, Where Traders Pay No Additional Commission And Trading Costs Are Included In The Spread. This Simplicity May Be Attractive To Traders Who Prefer A Simple Fee Structure.
Gold Accounts: Similar To Silver Accounts, Gold Accounts Do Not Mention Specific Commissions. This Suggests That Gold Accounts May Also Adopt A Pure Spread Pricing Model, With Trading Costs Already Included In The Spread. Traders Can Benefit From Tighter Spreads Without Paying Additional Commissions.
Platinum Accounts: The Description Does Not Explicitly State Any Commissions For Platinum Accounts. However, Considering The Competitive Spread Of 0.5 Pips And The Focus On Experienced And High Net Worth Traders, Commissions May Be Involved In Addition To The Spread. The Lack Of Commission Information Suggests That Traders Should Contact A Broker Or Refer To Official Documents For Precise Commission Details.
Deposit And Withdrawal
Deposit And Withdrawal Method:
Bank Transfer: You Can Deposit And Withdraw By Bank Transfer. Please Contact Our Customer Service Staff For Bank Account Info.
Bank Telegraphic Transfer:
Traditional Method
Deposit: It Takes 1-5 Working Days.
Withdrawal: Transfer Funds To Your Bank Account.
For Large Deposits And Withdrawal Of Profits Or Balances.
Credit Card:
Deposits: Instant Or A Few Hours.
Withdrawals: Less Common, Depending On The Broker. Please Check With The Broker For Details.
Suitable For Small To Medium Sized Deposits.
Cryptocurrency:
Deposits: Processed Within A Few Minutes.
Withdrawals: Transfer Money To Your Private Wallet.
Suitable For Digital Asset Enthusiasts.
Trading Platform
51Markets Offers The MetaTrader 4 (MT4) Trading Platform, Known For Its User-friendly Interface, Advanced Charting Features And Comprehensive Trading Tools. Traders Can Take Advantage Of Automated Trading Features With Expert Advisors (EAs), Custom Indicators, One-click Trading For Fast Order Execution, Risk Management Tools, Real-time News And Reminder Features, As Well As Trading Multiple Asset Classes Including Forex, Commodities, Indices And Cryptocurrencies. MT4's Popularity And Broad Community Support Make It A Versatile And Powerful Platform For Traders Of All Levels, Whether They Are Executing Trades, Conducting Technical Analysis Or Conducting Algorithmic Trading Strategies.
CUSTOMER SUPPORT
The Customer Support Provided 51markets.com Falls Short In Several Ways. Response Times To Queries Are Often Very Slow, Leaving Traders Waiting A Long Time To Get Help. In Addition, The Quality Of Support Provided Can Be Inconsistent, With Some Representatives Lacking The Knowledge And Expertise Needed To Deal With Complex Trading Issues. In Addition, There Are Complaints About Irresponsibility And Lack Of Empathy Towards Traders' Concerns, Making For A Poor Overall Customer Support Experience. Overall, Improvements Are Needed In Response Times, Support Staff Training And Overall Responsiveness To Enhance The Customer Support Provided Support@51markets.com.
