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Ballistic Markets Review - is it scam or safe?

Ballistic Markets Review - Is ballisticmarkets.com scam or good forex broker?

RATING: 3.1 / 0 REVIEWS Ballistic Markets
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Ballistic Markets is a FCA regulated, UK based broker, offering forex trade and CFDs on spot metals, oil and indices with the MetaTrader4 platform. You can learn more about the trading conditions with the broker in the following review.

 

Account type Min. deposit Max. leverage Spreads
Starting Account 1000 GBP 1:100 1,3 pips, floating
Experienced Account 20 000 GBP 1:100 0,4 pips, floating*
Professional Account 50 000 GBP 1:100 0,3 pips, floating*

*commission applied

 

Ballistic Markets Advantages:

 

Diverse  STP accounts offered

 

Ballistic Markets is offering three account types - a Starting Account, an Experienced Account and a Professional Account, all of which STP (Straight-through Processing) accounts with a minimum trading order of 0,01 lot. Here you can check our list of brokers also offering STP accounts:

 

>>Brokers offering STP accounts<<

 

Competitive spreads

 

As noted in the Ballistic Markets web page, the minimum spreads with a Starting account are 1,4 pips with zero commission for the trade. On the other hand with an Experienced and a Professional Account the spreads are as low as 0,3 pips, but you have a commission – 4 USD per standard lot of 100 000 base currency units with the Experienced Account and 3 USD per standard lot for the Professional Account. 

 

Take in to account that a commission of 1 USD per traded lot adds another 0,1 pip to the spread. So the actual spread with an Experienced Account is 0,7 pips and with the Professional Account – 0,6 pips, which is in line with the finest spreads you can get on the market.

 

As tested with a Demo Account the EURUSD spread was between 0,2 pips and 0,3 pips with a commission of just 2,46 USD per standard lot, adding to the row spread approximately 0,25 pips. So the actual EURUSD spread was between 0,45 and 0,55 pips, which is even better than the starting spreads advertised with the Professional Account. Still you may want to check our list of brokers offering similarly tight spreads:

 

>> Lowest spread forex brokers<<

 

Various trading instruments

 

Ballistic Markets offers trade with some 45 forex pairs, including exotic currencies such as the Singapore Dollar, Danish Krone, Swedish Krone, Norwegian Krone, Turkish Lira, Hong Kong Dollar, Chinese Yuan,Hungarian Forint, South African Rand, Mexican Peso and Czech Krona. The broker also offers CFDs on gold, silver, oil and indices, but do not offer crypto currencies, so you may check our list of brokers offering trade with CFDs on Bitcoin and other crypto currencies:

 

>>Bitcoin Forex Brokers<<

 

Great variety of payment methods

 

With Ballistic Markets you can deposit and withdraw funds with Safecharge, Netteller, UnionPay, eMerchant, American Express, Aurore, Bank Axess, BankLink, BLEUE, CartaSi, CASHU, ClickAndBuy, Comgate, Delta, DineroMail, Diners Club International, Discover, ePay.bg, EPS, Euro 6000, Euteller, EWire, Giropay, iDeal, ING, INSTADEBIT, JCB, Maestro, MasterCard, Miser Cash, Moneta RU, PayPal, QIWI, SAFETY PAY, SOFORT, Sporobank, ToditoCash, Trustly, TrustPay, Visa, WebMoney and bank wire. Form the list we miss only Skrill, so here you may check our list of brokers, where you can pay with Skrill:

 

>>Skrill Forex brokers<<

 

MetaTrader4 available

 

With the MetarTrader4 platform Ballistic Markets offers a very classical solution to its customers. The platform is extremely popular both with experienced and beginner traders. It is light, efficient and with an user friendly interface. Probably the most prominent MT4 feature however, besides its excellent graphic tools, is the algorithmic trading option, where you can compile your own trading bots and market indicators with the help of a specially designed editor and a propriety scripting language – the MQL4. Here you can check our list of brokers, also offering the  MetarTrader4  platform:

 

>>Find other MT4 brokers here<<

 

Sound regulation

 

Last but not least of the Ballistic Markets advantages is its sound regulation. 

 

Ballistic Markets is owned and operated by Finotec Trading UK Limited, which is based in the UK and regulated by the Financial Conduct Authority. 

 

Finotec Trading UK on its part also owns Finotrade, TopWellCG, DragonGain (a brand, which targets mainly Japanese investors), Ballistic Markets, 121 Clearing, Finobitcoin, Krypfin, YCM-Invest and NoaPrime.

 

The sound regulation gives the broker sufficient credibility to be trusted by traders.

 

FCA is one of the most respected financial institutions on the globe and all of its brokers have to abide by strict financial and ethical rules, guaranteeing transparency to all transactions.

 

FCA also forces all its brokers to join the Financial Services Compensation Scheme, which insures traders' capital in the event a broker goes insolvent. Under the scheme traders can receive up to 50 000 GBP of their money back. 

 

In addition FCA brokers have to maintain operational capital of minimum of 730 000 EUR and to keep all clients money in a secure, segregated account. Here you can check our list of FCA regulated brokers:

 

>>Find FCA regulated Brokers here<<

 

Ballistic Markets Disadvantages:

 

Excessive minimum deposit requirements

 

With Ballistic Markets you can open a  Starting Account with 1000 GBP, an  Experienced Account  with 20 000 GBP and a Professional Account with 50 000 GBP. 1000 GBP for the Starting Account is a bit excessive as with most brokers you will be able to open an account with a hundred USD or less and with some brokers like XM and FXTM the minimum deposit requirement is just 5 USD.

 

Conservative leverage

 

The maximum leverage offered by Ballistic Markets for all account types is 1:100, which is a bit conservative as with many brokers the limit is much higher. However you should keep in mind that higher leverage means higher risk and that in some countries like the US for instance the maximum leverage is caped at just 1:50. Still here you may want to check our list of brokers, offering leverage of up to 1:500 and above:

 

>> Brokers offering at least 1:500 in leverage <<

 

Conclusion:

 

Ballistic Markets is a safe FCA regulated broker, offering very competitive spreads with its premium STP accounts and the MetaTrader4 platform. The minimum deposit requirement however is a bit high and if you want to taste the really good spreads you should invest at least 20 000 pounds. Also the maximum leverage is a bit conservative. Still, because of the good trading conditions we are inclined to give the broker a good grade.

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Traders` reviews for Ballistic Markets

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