Switch Markets is a fairly new Australian licensed and regulated CFD broker that opened in 2020.
Owned and operated by: Switch Markets International PTE Ltd, they list an address of: 1B Trengganu Street, Singapore 058455 2100. Customer support email address is: [email protected]. Their phone numbers are; United Kingdom: +44 190 294 3383. Official website of the broker is: https://www.switchmarkets.com/.
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Switch Markets Reviews
Investors and traders at Switch Markets can use the MetaTrader 4 (MT4) trading platform, as a desktop software, or web trader or mobile trading apps. This broker has also developed their own MT4 accelerator, which offers you add-on’s for your trading platform.
Social trading is available via the external companies ZuluTrade and MyFXBook. You can choose to trade with a standard account, or a Pro account. The difference between the two account types is the required minimum deposit of $50 versus $1,000. Spreads are slightly wider on the standard trading account, and when you go with a Pro account, you pay $7 commissions.
Accounts can be setup with the based currency in: USD, EUR, AUD, GBP, CAD, NZD, SGD, CHF, PLN.
During the month of December 2021, Switch is offering new clients who open a live trading account, to trade with up to 55% discount on trading costs for 6 months. It is only valid for New Customers until December 31st 2021. A minimum deposit of 1000 USD/EUR/GBP is required. And it is only available to customers that register under their SVG license.
Is Switch Markets a Regulated Broker?
When the Scam Broker Investigators reviews a new Forex or Crypto broker, there are many aspects of the broker we look at. However, the first item that we check, to determine if a broker is legitimate or a scam, is to determine if they licensed and regulated by a financial regulatory agency.
- Switch Markets Pty Ltd is an authorised representative (no. 001283063) of Royal Financial Trading Pty Ltd (AFSL: 420268).
- Switch Markets International PTE Ltd (202040285G) is an authorised representative of Royal ETP LLC. Which is the Saint Vincent & Grenadines company that owns Royal.
Trading at a Forex broker that is licensed by ASIC Australia, is always going to be a smart decision. You know that your funds are secured, and that they follow the laws of Australia. You can read more about licensed Forex brokers, see here.
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