EFT Markets Review – Is It a Good ECN Broker to Trade with?
EFT Markets Broker Rating
We have recently received many complaints about this broker and have subsequently brought down its’ rating, do not trade with this broker, it might be a scam!
In their quest for optimal trading conditions, retail traders are looking for proprietary and personalized offers, since there are many brokerage houses operating in the market and most of them offer the same benefits. EFT Markets is a relatively new brand which holds a unique vision on how traders can get involved in FX, stocks, indices, commodities, and cryptocurrencies, with the help of trading software developed in-house.
EFT Markets Review
EFT Markets is a popular financial services provider, currently offering more than 1,000 world-class assets and several other useful features, including strong encryption technology (the same one used by major online retailers and banking institutions). Its commitment to ensuring optimal security is one of the main reasons why there are already many people working with this brand.
On top of that, EFT Markets’ long-term vision is to have a meaningful contribution to the process of unleashing each trader’s potential, via a trading offer that suits all types of needs. Can you really trade securely on your desktop, mobile, or tablet with this brand? Let’s see if EFT Markets manages to deliver what it promises.
Smart Investing with a Proprietary Platform
Based on the company’s vision, any platform that is unable to combine simplicity and sophistication is doomed to fail. Accordingly, the EFT Markets platform was designed as a useful tool to help traders connect with the most volatile markets in the world. Since it also covers cryptocurrencies, the importance of the platform increases.
With this platform, online trading is fast, secure, and transparent, putting the trader in charge of their trading decisions. You can sign up for a demo trading account to test it and see how it works, before switching to a live account.
Live charts, an integrated economic calendar, price alerts, risk management tools, and trading signals, are just some of the features built into the platform. At the same time, since this is a browser-based solution, there are no limitations to where and when it can be used. PC, laptop, smartphone, or tablet – all are compatible, and access to the markets is granted.
Diversified Trading Products
There are more than 1,000 different trading products currently part of the EFT Markets offer, covering some of the largest asset classes in the world, including tens of currency pairs, hundreds of stocks, tens of commodities, and many cryptocurrencies. To show that it is a true ECN broker, it enables trading with up to 1:400 leverage and tight spreads for most liquid instruments.
Diversification for asset coverage is important when markets are volatile because traders need to either build a portfolio in order to spread the risk or carefully pick assets that have a directional bias and uncover reliable trading opportunities.
Choose One of the Five Account Types
EFT Markets does not want to be a restrictive trading brand and thus grants each customer, who wishes to trade live, access to a package of 5 different account types. Standard, Silver, Gold, VIP, and Pro accounts all come with a different set of benefits.
The broker makes sure that traders get access to competitive trading conditions and a wide range of educational resources that can make a difference in one’s ability to understand the markets. Pro accounts are the most favored but require a very large deposit.
Regardless of the account type chosen, there are several resources designed for educational purposes. If we take the Standard account as an example, traders choosing it get access to daily market news, a comprehensive trading academy, weekly market reviews, support from an account manager, and a weekly portfolio progress report.
As we move on to larger accounts, other features kick in, including 24/7 account monitoring by a top analyst group, a personal portfolio manager, customized education, a managed portfolio, and invitations to VIP events.
- Free market research and market analytics provided to traders
- 24/6 friendly customer support service
- 1,000+ assets from different classes
- Traders can use only one trading platform
- Android and iOS apps have not been developed yet
- Not all asset classes are supported (ETFs, blends, etc.)
EFT Markets brings a new vision of how traders should trade in the financial markets. It is the right moment as retail traders continue to pour into the market. This a brand with a global outreach, aiming to serve customers in various countries. However, it is important to note that its website is not directed at any specific jurisdiction and it is not intended for any use that is against local laws or regulations.
For traders looking for a personalized offer, EFT Markets is one of the options on the table. They can open a demo account for free or a live account with a small deposit and see if this is the brand they’ve been looking for.