Marketspots is an offshore / unlicensed online CFD broker, that opened in August 2020. The official website is at: https://Marketspots.co/.
For complaints or problems making a withdrawal, read this.
MarketSpots Review
Our review of the trading platform offered at broker Marketspots shows, that they are using the white label FronTrader trading app. Day traders will find the full spectrum of underlying assets available for CFD trading. They make available trading on; Crypto Currency, Forex, Commodities, Market Indexes, Stocks and Metals.
Maximum leverage is as high as 200:1 for Forex pairs, and as low as 2:1 on Crypto Currency pairs. New trading accounts can be funded with Credit Card, via BridgerPay. They minimum deposit required for their Standard Account type is $10,000.
You can see a screenshot of their web-based CFD trading platform below. Marketspots shows an icon for an Android mobile trading app, but the link does not work. If you are interested in using MetaTrader software, the find another broker look here.
Is Marketspots a Legit Broker?
No, Marketspots is not a licensed or regulated broker. They make no mention on their website, where they are located, or who owns the firm. The only contact information is an email address of: [email protected].
The way Scam Broker Investigator reviews a new online broker to see if they are legit or a scam, is by checking for a valid brokerage firm license. On our website you will find reviews of more than 800 CFD brokers and trading apps. We always check the government financial regulators; FSCA South Africa, ASIC Australia and FCA United Kingdom, to see if a firm is licensed.
By investing with a licensed and regulated broker, this ensures you, that your funds are kept in segregated accounts, and are secure in the event that the broker disappears.
Scam Trading Apps
Warning! Before investing with an automated trading system like “Bitcoin Up”, just know, that 99.9% of people lose their money!
Many people read what looks like a legitimate article, about someone who made money using a secret trading system. However, the only person making money from it, is the one who wrote the article! For a detailed explanation of how these scams operate, you should read this article.
Do your research, and first try making money are licensed broker that give you Trading Central alerts, see here.
Compare Regulated Brokers
Day traders like you have many choices when it comes to finding a legit CFD broker to use. You should begin your search by comparing the popular brokers.
ForTrade is a very popular international Forex broker, especially since they are regulated in Europe, Australia and Canada, see here.
Try a Free Demo Account on their website ForTrade.com.
If you are currently trading / investing with Marketspots, please share your personal experience, in the comments section below.