MarketCFD is an unlicensed and offshore Forex & Crypto broker, that started in August 2019.
For withdrawal problems and broker complaints, read this.
WARNING!!! MarketCFD is NOT Regulated by FCA or ASIC
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MarketCFD Broker Review
A quick glance at the MarketCFD trading platform shows that this broker, like many others, is running on the white label TraderSoft software. Their software has CFD’s, Crypto Currencies, and Simplified Forex trading, available on hundreds of underlying assets in the markets of Forex, Stocks, Commodities and Market Indices. Charting is provided by the popular TradingView.
As with many CFD brokers, the difference is the level of leverage offered on the various underlying assets. Bitcoin CFD trading is available for example, at a 1:10 leverage with huge spreads of $200. The minimum deposit for a basic trading account is $250. This broker does not offer MT5 or mobile trading apps, you can only use their web-based trading software.
Bonus money is added to your account once you make a deposit. Before you can withdraw your money, you will need to generate trading volume of 60 times your initial deposit. This is a major cause of complaints, and it is the reason why ESMA has banned to use of such bonuses at regulated brokers.
Crypto Trading Apps Warning!
WARNING! Most of these trading apps like Bitcoin Era, Bitcoin Code and Bitcoin Loophole do not make money. Read this article!
Look at Today’s popular trading apps, see here.
Does MarketCFD Have a License?
No, MarketCFD & MarketsCFD are not licensed brokers.
MarketCFD is actually owned and operated by: Plus One Ltd, located at: Griffith Corporate Centre, Suite 305, PO Box 1510, Beachmont Kingstown St. Vincent and the Grenadines. Their payment provider is EverStride OÜ, Tornimae 5, Tallinn, 10145, Estonia. Phone number in South Africa is: +27510116730. Customer support email is: [email protected], and the official website is: https://www.MarketCFD.com.
MarketsCFD looks like a clone with a different corporate name and address. MarketsCFD.net claims to be owned by SwissGems Ltd, Registration num 205779109. They list an address of: Poduyane district, R.A. Hadzhi Dimitar, Baba Vida street, Office 5, Sofia Bulgaria. Phone number: +442036578876.
When the Scam Broker Investigator reviews a new Forex broker, the best way to know if they are a legitimate broker is by checking for a valid CFD brokers license. Many brokers are licensed by a government regulator like ASIC Australia, FCA in the United Kingdom or by FSCA South Africa. Even the massive crypto exchange Coinbase has a license! Smart traders always verify that the broker they are going to invest with, is also licensed in their local country.
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ForTrade are the best United Kingdom regulated brokers, since they are licensed by the FCA and ASIC Australia, look here.
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If you are currently investing with this broker, please share your experience in the comments below.