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SVKMarkets Review - Is it scam or safe?

SVKMarkets Review - is svkmarkets.com scam or good forex broker?

RATING: 3.1 / 0 REVIEWS SVKMarkets
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Trading Accounts

 

 

Account type  Minimum deposit  Maximum leverage Average Spreadя
Standard £100 1:200 0.8 pips

 

SVKMarkets offers CFD trading and spread-betting services through a single account type with leverage up to 1:200, both variable and fixed spreads and no commission fees (apart from trading in CFDs on shares).

 

The Company. Security of Funds

 

Company

Country

Regulation

SVK Capital Management ltd.

UK

FCA

 

SVKMarkets is a UK brokerage offering wide range of financial instruments for trade on several trading platforms. In fact, it acts as an introducing broker of City Index. Unlike most IBs, which don’t have a license of their own, SVK Capital Management ltd. (operating the SVKMarkets brand) is authorised and regulated by the Financial Conduct Authority to act as a financial services provider. The company also owns and operates an Asset Management brand and website.

 

FCA is famous for the strict rules and supervision it applies to license holders. For example, UK-based brokers are obliged to hold at least €730 000 and to keep all client money separated from the company`s own funds into segregated accounts. Licensed companies are also obliged to report to the commission on a regular basis and adhere to a number of standards.

 

What is probably most important with regard to safety of funds invested in FCA-regulated firms is the Financial Services Compensation Scheme (FSCS) coverage. In the event of company insolvency, FSCS is able to cover your investment loss up to a maximum of £50,000.

 

Trading Conditions

 

Minimum Initial Deposit

To open an account with SVKMarkets, one has to deposit at least £100, which is average for the forex market.

 

Average spreads & Commissions

SVKMarkets offers fixed spreads for indices and commodity CFDs. As regards forex, the spreads are floating, averaged 0.8 pips for the EUR/USD pair and no commission fees apply. This is an attractive offer, as most brokers offer spreads within the range of 1.0 – 1.5 pips for this pair. For further information, you may look up and compare real-time spreads of 15 leading brokers may be viewed here.

 

Leverage

The maximum leverage rates at SVKMarkets are up to 1:200. Such leverage is considered average, although many forex brokers offering leverage equal to or exceeding 1:500.

 

Keep in mind, however, that higher leverage ratios involve greater risk of losses, which may even exceed initial deposits.  That is why FCA plans to limit the maximum leverage offered by licensed brokers to 1:50.

 

Trading Platforms

 

When trading with SVKMarkets, you will be offered the platforms supported by its partner City Index – the proprietary desktop AT Pro, Advantage Web, as well as the popular MetaTrader 4. Mobile applications are also available.

 

Methods of Payment

 

Clients of SVKMarkets can make deposits to and withdrawals from their accounts via credit/debit cards, and bank wire transfer.

 

Conclusion

 

SVKMarkets is an introducing broker of City Index – a famous brand operated by forex giant Gain Capital since 2015. Unlike most IBs, SVKMarkets holds a license of its own with FCA. Its trading conditions are the same as those of City Markets and are pretty attractive. In a nutshell, here are the advantages and disadvantages with regards to this broker:

 

Pros Cons
FCA regulation Introducing Broker
Competitive spreads  
Several platforms offered, MT4 available  
Many tradeable instruments offered  

 

Latest news about SVKMarkets
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Traders` reviews for SVKMarkets

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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