Overall, Markets.com is very competitive in terms of its trading fees and spreads. Pepperstone is considered low-risk and is regulated by ASIC, BaFin, CMA, CySEC, DFSA, FCA, and SCB. Markets.com has an overall Trust Score of 97% out of 100. Markets.com is currently not regulated by the CBN.
- Lesche Duvenage
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Trading Platforms
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 41459 NGN
Regulators
CySec, ASIC, FCA, BVI FSC, FSCA
Trading Desk
MetaTrader 4, MetaTrader 5, Markets.com propietary platform
Crypto
Yes
Total Pairs
67
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Markets.com Review – 13 key points quick overview:
- ✅ Regulation and Safety of Funds
- ✅ Account Types and Features
- ✅ Account Registration
- Markets.com Vs OANDA Vs Octa – Broker Comparison
- Trading Platforms
- Range of Markets
- Broker Comparison for Range of Markets
- Trading and Non-Trading Fees
- Deposits and Withdrawals
- Markets.com Education and Research
- Verdict on Markets.com
- Markets.com Pros and Cons
- Frequently Asked Questions
Markets.com Overview
👉 Overall, Markets.com is considered low-risk, with an overall Trust Score of 98 out of 100. Markets.com is licensed by two Tier-1 Regulators (high trust), two Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). In addition, Markets.com offers one different retail trading account, namely a Standard MarketsX Account.
👉 Markets.com was created in 2008 and is a subsidiary of Finalto, a subsidiary of Playtech PLC, a component of the FTSE 250 Index, and listed on the London Stock Exchange Main Market.
👉 Markets.com provides traders with quick, low-cost trading on various financial products, including over 2,000 stock CFDs, Forex, commodities, cryptocurrencies, indices, ETFs, and bonds.
👉 Markets.com accepts Botswanan clients and has an average spread from 0.6 pips with zero commission charges. In addition, Markets.com has a maximum leverage ratio of up to 1:300, and a demo and Islamic account are available.
👉 MT4, MT5, and MarketsX platforms are supported. Markets.com is headquartered in South Africa and regulated by ASIC, CySEC, FSCA, FCA, and BVI FSC.
Markets.com Distribution of Traders
👉 Markets.com currently has the largest market share in these countries:
➡️ Argentina – 10.8%
➡️ Colombia – 9.2%
➡️ Denmark – 9.01%
➡️ United Kingdom – 8.45%
➡️ South Africa – 6.8%
Popularity among traders who choose Markets.com
👉 Markets.com is a well-known South African broker. While it does not dominate the Nigerian forex market, it is a practical and trustworthy choice for Nigerian traders, ranking it among the country’s Top 15 forex and CFD brokers.
Markets.com at Glance:
| 🏛 Headquartered | The British Virgin Islands |
| 🏢 Nigerian Based Office | No |
| ✔️ Accepts Nigerian Traders? | Yes |
| 📊 Year Founded | 2008 |
| 📞 Nigerian Office Contact Number | None |
| 📲 Social Trading Platforms | • Facebook • YouTube |
| ⚖️ Regulation | ASIC, CySEC, FSCA, FCA, BVI FSC |
| 💯 License Number | • Cyprus (Safecap Investments) – 092/08 • British Virgin Islands (Finalto) – SIBA/L/14/1067 • South Africa (Finalto Pty Ltd) – 46860 • South Africa (Safecap Investments Limited) – 43906 • United Kingdom (Finalto Trading Ltd)- 607305 • Australia (Finalto) – ABN 82158641 |
| ⚖️ CBN Regulation | None |
| 🤝 Regional Restrictions | The United States, Japan, Canada, Belgium, Israel, New Zealand, Russia, Hong Kong, and several other regions |
| ☪️ Islamic Account | Yes |
| 📊 Demo Account | Yes |
| 📈 Retail Investor Accounts | 2 |
| ✔️ PAMM Accounts | No |
| 📈 Liquidity Providers | Several Tier-1 partnerships, banks, and others |
| 💵 Affiliate Program | Yes |
| ✔️ Order Execution | Market and Instant |
| ✔️ Execution Venues | 0.8 pips EUR/USD |
| 📊 Average spread | Variable, from 0.0 pips EUR/USD |
| 📞 Margin Call | 50% |
| 🛑 Stop-Out | 50% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 100 lots |
| ✔️ Crypto trading offered? | Yes |
| ✔️ Offers an NGN Account? | No |
| 🤝 Dedicated Nigerian Account Manager? | No |
| 📈 Maximum Leverage | 1:300 |
| 📊 Leverage Restrictions for Nigeria? | None |
| 💵 Minimum Deposit (₦) | 41,000 Nigerian Naira |
| ✔️ Nigerian Naira Deposits Allowed? | No, only USD, ZAR, GBP, and EUR |
| 💰 Active Nigerian Trader Stats | 1.3 million |
| 🤝 Active Nigerian-based Markets.com customers | Unknown |
| 💰 Nigeria Daily Forex Turnover | $1.25 million+ |
| 💵 Deposit and Withdrawal Options | • Bank Wire Transfer • Credit Card • Debit Card • Skrill • Neteller |
| 💳 Segregated Accounts with Nigerian Banks? | No |
| 💻 Trading Platforms | • MarketsX • Marketsi • MetaTrader 4 • MetaTrader 5 • MarketsX App |
| ✔️Tradable Assets | • Shares • Bonds • Cryptocurrencies • Forex • Primary CFDs • ETFs • Indices • Blends • Commodities |
| 💵 Offers USD/NGN currency pair? | No |
| 📊 USD/NGN Average Spread | N/A |
| 📈 Offers Nigerian Stocks and CFDs | None |
| 📊 Languages supported on Website | English, Spanish, Thai, Vietnamese |
| 🤝 Customer Support Languages | English, French, Spanish, Italian, Arabic, German, Bulgarian |
| 📞 Customer Service Hours | 24/5 |
| 👥 Nigerian-based customer support? | No |
| 💰 Bonuses and Promotions for Nigerians | None |
| 📚 Education for Nigerian beginners | Yes |
| 📊 Proprietary trading software | Yes |
| 📈 Most Successful Nigerian Trader | Uche Paragon ($20 million net worth) |
| ✔️ Is Markets.com a safe broker for Nigerians? | Yes |
| 📈 Rating for Markets.com Nigeria | 7/10 |
| ✔️ Trust score for Markets.com Nigeria | 97% |
| 👉 Open An Account | 👉 Open Account |
Markets.com Regulation and Safety of Funds
Markets.com Regulation in Botswana
👉 The local market regulators in Nigeria are as follows:
➡️ Ministry of Finance and Economic Development (MFED)
➡️ Bank of Botswana (BoB)
➡️ Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
👉 While Markets.com is regulated globally, the broker does not yet have local regulations or licenses in Nigeria. However, Markets.com is a popular and trustworthy broker that accommodates Nigerian traders.
Markets.com Global Regulations
👉 The following entities regulate Markets.com:
➡️ The Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) are responsible for regulating Markets.com AU and Markets.com CY, respectively.
➡️ com SA is governed by the reputable and stringent Financial Sector Conduct Authority (FSCA) in South Africa, where the firm maintains a local office.
➡️ com UK is overseen and regulated by the Financial Conduct Authority (FCA).
➡️ In addition to regulating Markets.com, the British Virgin Islands Financial Services Commission (BVI FSC) is responsible for its management.
Markets.com Client Fund Security and Safety Features
👉 Each region is responsible for ensuring that investors’ interests are protected. Markets.com’s size allows it to adapt its services to your area, including any local restrictions.
👉 In several countries worldwide, strict financial reporting regulations require segregating client assets. As a result, customers’ funds are maintained in separate bank accounts from Markets.com’s own funds, and negative balance protection is advantageous for traders.
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 41459 NGN
Regulators
CySec, ASIC, FCA, BVI FSC, FSCA
Trading Desk
MetaTrader 4, MetaTrader 5, Markets.com propietary platform
Crypto
Yes
Total Pairs
67
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Markets.com Account Types and Features
👉 Even though Markets.com does not provide several account types, the trading criteria differ based on the chosen platform. For example, traders can open a real and a demo account with a single sign-up.
👉 Nigerian traders would choose to utilize MarketsX, Marketsi, MT4, or MT5 after opening an account. MarketsX is a multi-asset trading platform for financial markets, while Marketsi is an investment platform.
| Stock Exchange | Private Investors | Professional Investors |
| Australia | 20 AUD (6,000 NGN) | 95 AUD (28,000 NGN) |
| NASDAQ | 1 USD (400 NGN) | 24 USD (9,900 NGN) |
| BATS Europe | – | 25 GBP (13,600 NGN) |
| New York Stock Exchange | 1 USD (400 NGN) | 45 USD (18,600 NGN) |
| NYSE AMEX and ARCA | 1 USD (400 NGN) | 23 USD (9,500 NGN) |
Markets.com Live Trading Account Details
MarketsX Account
| Account Feature | Value |
| 📉 Minimum Deposit | 41,000 Nigerian Naira |
| 📊 Average Spreads | From 0.8 pips on major forex pairs |
| 💸 Commissions | None |
| 💵 Leverage | Up to 1:300 for non-EU traders |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, MarketsX and Marketsi |
| 📞 Customer Support Offered | Yes, 24/5 |
| 🚨 Trading Signals | Yes, from experienced traders |
| 🔧 Trading Tools offered | Yes, in addition to market news and analysis |
| 📲 Trading Alerts and Notifications | Yes, customizable alerts |
| 📱 Range of Markets | More than 8,000 financial instruments |
Markets.com Base Account Currencies
👉 Nigerians can choose their default account currency among USD, EUR, GBP, DKK, NOK, SEK, PLN, CZK, and AED when opening an account with Markets.com.
👉 This implies that Nigerians making deposits or withdrawals in NGN can incur currency translation costs, which might harm their profitability.
Markets.com Demo Account
👉 Traders can also open a Demo Account, which allows them to learn how the platform and markets function. Demo accounts come with a $10,000 virtual balance.
👉 The 30-day duration of the sample account is extendable if required. Additionally, it is mobile-friendly, so you can study trading on your smartphone or tablet.
Markets.com Islamic Account
👉 Depending on their trading style and approach, a forex trader’s position may be open for longer than 24 hours throughout a trading day.
👉 This might incur an overnight or rollover fee for the trader. Moreover, this kind of interest is prohibited under Sharia law’s Riba regulations, restricting Muslim forex traders.
👉 Muslim traders who adhere to Sharia may create a live account with Markets.com and have it converted into an Interest-Free Islamic Account, exempting them from paying or earning overnight fees when positions are open for more than 24 hours.
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 41459 NGN
Regulators
CySec, ASIC, FCA, BVI FSC, FSCA
Trading Desk
MetaTrader 4, MetaTrader 5, Markets.com propietary platform
Crypto
Yes
Total Pairs
67
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Broker Comparison for Range of Markets
| 📊 Feature | TabTrade | FxPro | Tickmill |
| ⚖️ Regulation | FSRA | FCA, SCB, FSCA, FSA | FCA, CySEC, FSA Seychelles, FSCA, DFSA |
| 📱 Trading Platform | MT5 | MT4, MT5, cTrader, FxPro Platform | MT4, MT5, TradingView, Tickmill Trader |
| 💰 Withdrawal Fee | None | None | None |
| 📊 Demo Account | Yes | Yes (180-day limit) | Yes (expires after 7 days inactivity) |
| 📈 Minimum Deposit | From $0 (Standard) | $100 | $100 |
| 📈 Leverage | Up to 1:1000 | Up to 1:10,000 | Up to 1:1000 |
| 📊 Spread | From 0.0 pips | From 0.0 pips (Raw+) | From 0.0 pips (Raw), 1.6 pips (Classic) |
| 💰 Commissions | $7 per lot | $3.5 per side on Raw+ | $3–$3.5 per lot on Raw accounts |
| ✴️ Margin Call / Stop-Out | 100% / 50% | 50% / 20% | 100% / 30% |
| ⚡ Order Execution | <30 ms | Market execution <12 ms | Market execution |
| 🎁 No-Deposit Bonus | No | No | No |
| 📊 Cent Accounts | No | No | No |
| 📈 Account Types | Standard, Edge, VIP, Swap-Free, Demo | Standard, Raw+, Islamic, Pro | Classic, Raw (MT4/MT5), TradingView Raw |
| ⚖️ SEC Regulation | No | No | No |
| 💳 NGN Deposits | No | No | No |
| 💱 Nigerian Naira Account | No | No | No |
| 🕒 Customer Service Hours | 24/7 | 24/5 | Mon–Fri, 07:00–16:00 GMT |
| 👥 Retail Investor Accounts | Yes | Yes | Yes |
| ☪️ Islamic Account | Yes | Yes (swap-free) | Yes (available on all accounts) |
| 👉 Open Account | 👉Open Account | 👉Open Account | 👉Open Account |
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