Status Markets Review – Is it the Right Fit for You?
Status Markets Review
The financial markets have always been a force to be reckoned with and trading in these markets is an evergreen trend, but they appear to have become the talk of town even more in the last couple of years. The launch and expansion of the crypto market is one reason for their popularity, and the COVID-19 pandemic that has affected the global economy, has also played a role here.
Suffice it to say, online trading doesn’t seem to be slowing down, which means brokers are in heavy demand. The purpose of this Status Markets review is to help you decide if this is the platform for you.
Even those who hadn’t thought about trading in the financial markets have more recently taken an interest because other opportunities of making money have withered in the recent economic climate. Plus, you cannot deny that online trading is both easy and convenient and the flexibility it offers is incomparable.
Since there are no such barriers to entry, people all over the world have been attracted towards this space and have already benefitted from it. But, the one factor that has proven to be a challenge is choosing a broker to help you get started.
Online brokers are your partners in your trading journey because they provide you with the platform, tools and other features that are essential to the process. Without them, you will not be able to access any market, or execute your trades, so you cannot skip this step.
But, why is it a challenge? It should be easy to find a broker, especially in today’s age where information is available at your fingertips. Sure, you use the standard method; a Google search. As soon as you do, you will immediately see the dilemma.
When online trading was a new trend, the number of brokers offering their services in the market was limited. However, the financial markets have evolved and the trend has picked up, so the number of companies offering their services has also gone up.
The challenge is that their numbers have increased tenfold in the last few decades and this means that you have to dedicate a lot of time and energy to choose one. No, you cannot just go with the first option you find. Would you really do that if you were buying something? When you are spending money, you always do your research and look for the best deal.
The same is applicable in this case, which means you have to find the best possible online broker for your needs. Considering the hundreds of options that exist, it is natural for people to wonder how they will be able to find one.
You cannot rely on the opinion of others either because what may be suitable for them, may not be the same for you. The key is finding a company that’s the right fit for you i.e. provides you with what you are after. Some people are more focused on the instruments provided by a platform, while others worry more about their security features.
Thus, the choice can vary and this is not something you should forget. Choosing the wrong broker has consequences because you will not be able to trade how you want and this can affect your performance and experience.
In addition, having to change platforms means you have to start from scratch, which is annoying and a waste of time as well as opportunities. When you come across the name of Status Markets, you can will come to know that this forex and CFD platform has been operating in the financial markets since 2017.
It was established by a company based in the Marshall Islands, named MarCo Global Properties LTD, with the aim of helping global traders in tapping into the investment opportunities the financial markets have to offer.
Over the years, Status Markets has developed a good reputation and appears to be offering professional services to investors and retail traders. But, are they a good fit for you? This review can help you decide that:
|Trading Accounts||Three Account Types; Silver, Gold and Platinum|
|Assets Coverage||Forex currency pairs, Stocks, Cryptocurrencies, Indices and Commodities|
|Trading Tools||Trading Indicators, Trading Calendar, Calculator, Signals, Live Charts, Technical Analysis Tools and Reports, Price Alerts, Market Research, Economic Calendar, Financial News and Risk Management Tools|
|Education and Training||Yes; e-books, online video courses, webinars, seminars, tutorials, in-depth research and glossary.|
|Customer Support||24/5 support via email address, phone number, live chat and online contact form. An FAQ section is also available.|
|Security Policy||KYC (Know Your Customer) and AML (Anti-Money Laundering)|
|Parent Company||MarCo Global Projects LTD|
The Trading Instruments at Status Markets
When you are looking for a broker that is the right fit for you, the ideal place to begin is by checking out what trading instruments they offer. Some people enter the financial markets with the aim of trading in a specific market, or a specific instrument.
In the case of the former, you should ensure that the company offers you a number of instruments from that particular market and they should be good choices as well. There are platforms that give you access to a market, but the instruments are not very profitable and this can be disappointing because you may not be able to generate the kind of returns you are after.
If you are after a specific instrument, make sure it is available in their list, so you don’t have to go through the process of looking for a different broker. In case you don’t have anything particular in mind, it is a good idea to choose a company that gives you access to several markets from a single platform.
This is an advantage because if you want to spread out your investment later, you will not have to open an account with another platform, which can be difficult to manage. Moreover, access to variety also enables you to be able to manage your risks through diversification.
Spreading your capital across different markets can reduce your risks significantly, as these are usually inversely related. Hence, if one market goes down, the other goes up, which means you can set off your losses in one against the profits in a different market.
This is an opportunity that Status Markets offers to you because they have added more than a 100 trading instruments that belong to some of the world’s most profitable financial markets.
This variety available ensures that you can find instruments that fit your risk appetite and capital limitations and allow you to achieve your goals from a single platform. Some of the markets you can trade in include:
This is one of the oldest financial markets in the world and is known for providing consistent returns to traders, making it a good option to diversify.
There are soft commodities, which means agricultural products like coffee, sugar, corn and cotton, hard commodities, which means precious metals like gold and silver and also energy commodities like natural gas and oil.
The stock market is one of the most well-known financial markets in the world and many people have managed to make a fortune through this space. You can trade stocks of some of the world’s most renowned companies thanks to Status Markets and these include Amazon, Apple, Sony, Pfizer, Coca Cola, BMW and Microsoft.
While the stock market deals with stocks of individual companies, the indices market give people the chance to trade baskets of stocks belonging to various industries. You can trade some of the top indices at Status Markets and these include FTSE 100, NASDAQ 100, CAC 40, DOW JONES and S&P 500.
This is the largest financial market in the world and its daily trading volume is in excess of $5 trillion, thanks to its volatility.
It means that there is a lot of money to be made in this market by trading currency pairs. A combination of major, minor and exotic currency pairs has been added by Status Markets for its clients, such as GBP/USD, AUD/NZD, USD/CAD, EUR/USD, EUR/GBP and USD/JPY.
Even though this market was only introduced a decade ago with Bitcoin, it has expanded very quickly and has become one of the most popular financial markets in the world. The high volatility of cryptocurrencies has boosted their demand as this makes them very profitable.
Thus, you will find that some of the world’s top cryptocurrencies have been added by Status Markets to their list. These include Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash, Monero, NEO, Tether and Ripple.
The Trading Platform at Status Markets
After you have taken a look at the trading instruments and consider them a good fit for you, the trading platform provided by the broker should be your second stop. This is because this platform will determine the kind of experience you have; if the platform is too complicated, you will find it difficult to execute your trades and may not be able to do so at all.
If it is lacking in terms of trading tools, you will not be able to make the right decisions. Similarly, you may also have a preference in the type of trading platform you want to use.
For instance, if you want to trade from anywhere and whenever you want, you may want a mobile trading platform and not every broker is capable of offering one. If you want the full traditional trading experience, a desktop-based platform is needed and this is also at the discretion of the broker.
Subsequently, you need to take a look at the offerings to determine if it is the right fit for you, or not. Once more, you will be pleased with Status Markets because they have added a range of platforms for their clients.
Their goal is to ensure that every trader can find a trading platform that works out for them and can help them in realizing their trading goals. In order to accomplish this, a web-based, desktop-based as well as mobile trading platform is offered by Status Markets to its users.
When you go over the choices, you will find that they have not made any compromise in terms of quality or technology because they give you access to the MetaTrader4, the industry’s top trading platform, which is touted by global traders for its features and performance.
The MT4 trading platform is available for download on your desktop devices, both Windows and Mac, and can help you enjoy a powerful trading experience. The fast trade execution and one-click trading features ensure that you don’t have to miss out on any opportunity and results can be seen in real-time.
The platform is designed to fulfill the needs of every trader, whether a novice, or a skilled one and is easy to navigate, which eliminates a learning curve. A web-based platform has also been added by Status Markets for those who prefer a simple trading solution.
This platform doesn’t require any downloading and its intuitive interface makes it easy to use for every trader. You will also discover that Status Markets provide MT4 mobile apps for Android and iOS devices, which enable traders to explore the option of trading on the go.
You can stay connected to your trading account from everywhere and never miss out on any opportunity. All three types of trading platform offer their users access to a wide range of trading tools, thanks to the use of state-of-the-art trading technology.
An economic calendar has been added by Status Markets that comes in handy for tracking important highlights and events of the financial markets.
There are interactive charts, graphs, price alerts, trading signals, a number of indicators, fundamental and technical analysis tools as well as those for risk management. Furthermore, you can also catch up on the latest market news, which ensures that you are updated and know what is happening in the market.
The Security Features at Status Markets
Now that you know what kind of trading platform you will use and believe it will suit you, it is time to check whether the security of the broker is up to the mark or not. No one wants to become a victim of a cyberattack, but the risk exists when you are using the internet. After all, there is no governing authority here and the open access has enabled cybercriminals to target people.
Many have suffered from financial losses because their money was stolen, while others have had their identity compromised. Of course, you want to avoid these consequences and this means looking for a secure brokerage.
Why is this necessary? This is because in order to use a broker’s services, you have to deposit money with them and also provide a great deal of personal and sensitive information. If they are unable to keep it secure, you end up paying the price.
Thus, it is not an area to compromise on and Status Markets has done nothing of this sort. They have been extremely thorough in creating a strong security infrastructure that can reassure their clients. Their measures include those that can protect your sensitive data, along with your funds.
They ensure the safety of your funds by maintaining segregated customer account, which means that the accounts are separate from the company. The funds deposited by traders are kept with some of the best financial institutions to minimize the possibility of theft and Status Markets only uses them for your trading activities and not for any other purpose.
If the company ever goes bankrupt, your money will be returned to you. As far as the safety of your personal and confidential data is concerned, they have chosen to use SSL (Secure Socket Layer) technology and full data encryption.
Every single piece of data and communication is encrypted immediately to prevent any outsiders from seeing it. Even if the system is compromised, the encryption ensures that they cannot misuse the data.
You will also find Status Market to be compliant with the internationally known security policies i.e. Anti-Money Laundering (AML) and Know-Your-Customer (KYC). Under these policies, traders are required to provide verification documents for proof of identity and residence to the broker because this ensures that the account is not fake.
It is a tactic commonly used by cybercriminals, so these policies aim to eliminate this route.
The use of these policies is helpful in reducing the risk of terrorist financing, money laundering, identity theft and financial fraud. Documents that you have to provide Status Markets for proof of identity can be a driving license, international passport, or a national ID card issued by the government.
It should be valid, have a clear photograph and your name. Proof of residence needs a utility bill, whether water, electricity or gas, or a bank statement, showing your name and address and not older than three months.
The Account Options at Status Markets
Once you are sure that your personal data and your money will be safe with the broker, you should check out their account options to see if they give you the features you need. The account options are added for facilitating different types of traders, as everyone has a unique risk appetite, capital and trading style.
You need to ensure that the options given include one you can use comfortably and will not hamper your trading experience. There are three options that Status Markets has devised for its clients, each of which targets a specific category of trader. Let’s go over the choices:
Silver: This account is created by Status Markets for amateur traders with no prior experience in trading. The leverage offered is different for every market like you can get leverage of 1:200 for foreign currency pairs and that of indices, commodities and precious metals like gold and silver is 1:50. The leverage for stocks and equities stands at 1:20.
Gold: The second account option that you will find on Status Markets is for intermediate traders and there are changes in leverage. It starts with 1:300 for foreign currency pairs and then commodities, indices and precious metals get 1:100 leverage. It goes up to 1:40 for stocks and equities.
Platinum: The final account option that Status Markets has added is called Platinum and it is for professionals and experts, thereby offers the highest leverage. Forex currency pairs have 1:400, while it is 1:125 for precious metals, commodities and indices. 1:50 leverage is given for equities and stocks.
You will also find account features, such as free VPS, support for hedging, videos and webinars, a dedicated account manager, news alerts and customer support. A swap discount is given by Status Markets for the Gold and Platinum account, which is 25% and 50%, respectively. You are also given the choice of opening an Islamic account.
The Customer Support at Status Markets
Finding a broker that’s the right fit for you also means checking out their customer support. You cannot predict if and when you may encounter a problem you need help with and if assistance is not available in a timely manner, it can be a recipe for disaster.
After all, the financial markets move quickly and every second means an opportunity lost. The customer support at Security Markets doesn’t let that happen because they offer 24/7 assistance through a number of channels. Click on the Contact section of the website and you will be able to see the choices.
You can send in an email, or call on the given phone number. There is also an online contact form that can be filled for scheduling a callback. Live chat is another avenue that Status Markets has added for your ease, or you can look for an answer in the FAQs that are available on the website.
Consider the tight spreads, quick registration and diverse payment solutions that have also been provided by Status Markets and it will turn out to be the right fit for any trader.