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Markets Unlimited Review - is it scam or safe?

Markets Unlimited review - Is markets-unlimited.com scam or good forex broker?

RATING: 1 / 0 REVIEWS Markets Unlimited
Markets Unlimited is an offshore broker. Your money is not safe.

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Markets Unlimited is a forex and CFD broker offering a good variety of currency pairs and lots of CFDs with a choice of five account types on a web based trading platform. The broker is based in Belize, but we have some issues about its regulatory status, so before you open a trading account with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Classic Account $200 1:500 n/a
Pro Account $2 500 1:500 n/a
Gold Account $6 500 1:500 n/a
VIP Account $50 000 1:500 n/a
Corporate Account $100 000 1:500 n/a

 

Markets Unlimited Advantages:

 

Lots of currency pairs and a number of crypto CFDs

 

When we weighted the advantages of Markets Unlimited, one that stands out is the great variety of trading instruments – on their trading platform we counted 45 forex pairs with a number of exotic currencies like Danish Krone, Honk Kong Dollar, Turkish Liar, South African Rand, Norwegian Krone, Mexican Peso, Swedish Krona, Russian Ruble, Singapore Dollar and Czech Krona.

 

Other assets include CFDs on over 140 stocks, 9 indices, precious metals like silver and gold, oil, natural gas and major cryoto coins, like Bitcoin, Ethereum, Bitcoin Cash, Monero, Ripple, Zcash, Litecoin and AICoin. Still, you may also want to check our list of brokers offering Bitcoins CFDs as well:

 

>>Bitcoin Forex Brokers<<

 

Leverage as high as 1:500

 

Leverage as high as 1:500, as offered by Markets Unlimited is as good as it can get. And although it may seem attractive to traders with a more aggressive trading stile, we should note that it is also associated with a much higher risk.

 

Have in mind that in early August the European Securities and Markets Authority (ESMA) caped the maximum leverage allowed with forex trade on the European market at 1:30, while similar restrictions are already in place in the US and Japan. 

 

You can start trading with 200 USD

 

You can open a trading account at Markets Unlimited with 200 USD, which is in line with what most others brokers require as a minimum deposit. Still, have in mind that with some big, well established players like FBS and IG you can start trading with just 5 USD or even less.

 

Markets Unlimited Disadvantages:

 

No license

 

Markets Unlimited is owned and operated by Woodstown Overseas LTD, a company based in Belize. We should note that unlike other offshore territories Belize has a relatively reliable financial authority – the International Financial Services Commission, a government agency responsible for financial regulation. 

 

Unfortunately Markets Unlimited  turned out not to be registered and authorized by IFSC or any of the major regulators in the industry such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC). 

 

Regulation is the single most important factor for the safety of any investment and the fact that  Markets Unlimited does not have a license significantly lowers its credibility.

 

Properly regulated brokers on the other hand have to file regular reports, to maintain a certain minimum operational capital, to allow external audits, to keep all clients funds in a segregated, protected form creditors account and with some regulators even to insure traders money.

 

Traders investing with FCA regulated brokers for example are entitled to a compensation of up to 50 000 GBP in case their broker goes insolvent. Similar compensation scheme with all CySEC brokers guarantees traders up to 20 000 EUR of their capital. Here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Unusual withdraw conditions 

 

Markets Unlimited says, if you are using leverage (which is the basic idea, when you trade forex or CFDs) you will have to reach a certain minimum trade volume requirement before you can request a withdraw. The minimum trade volume requirement is calculated by the formula: your deposit times the leverage. Also, if you have received a bonus, you will not be able to withdraw it at all. We should note that this is highly unusual. See for your self:

 

 

No demo account available

 

Unfortunately we were not able to open a demo account with Markets Unlimited and that is the reason we can not discuss the trading conditions. Have in mind that spreads with a standard account are considered acceptable if starting below 1,5 pips and without a commission on the trade. Besides, here you may check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

MetaTrader4 not supported

 

Markets Unlimited offers its clients a rather simplified, web based trading platform that lacks many of the standard features available with classic trading solutions like the MetaTrader4.

 

 

We miss for example the option to run automated trading sessions, so here you may also check our list of brokers, supporting the MetaTrader4:

 

>>MT4 Brokers<<

 

You can not pay with Neteller and Skrill

 

Most brokers accept popular e-wallets like NetellerSkrill. Not Markets Unlimited. The only payment methods with the broker are credit cards like VISA and MasterCard and bank wire. Have in mind, as well, that the minimum withdraw amount with a credit card is 200 USD. 

 

Also, as all crypto assets are getting more and more popular, here you may check our list of brokers, accepting payments with Bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

Conclusion:

 

Markets Unlimited is an unregulated broker and that significantly lowers its credibility. As we discussed above, trading with unregulated companies is associated with significant risk of loosing your money to scammers.

Latest news about Markets Unlimited
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Traders` reviews for Markets Unlimited

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