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!
EFT Markets Review
Due to the great challenges arising in financial markets during 2020, the bar had been raised for brokerage houses to enhance their trading features and provide high-quality services, without any single flaw.
Considering that, EFT Markets rise as a true ECN broker that wants to offer industry-leading pricing and execution, via proprietary trading software and a unique set of trading tools designed to help traders navigate asset classes like forex, stocks, indices, commodities, and cryptocurrencies. Why should anyone start to work with this broker? You can find out by reading this detailed review about EFT Markets.
EFT Markets Trading Platforms
Market volatility and uncertainty are making traders more aware of the importance of a suitable trading platform. That’s the main reason why EFT Markets had developed an in-house trading solution, choosing to ignore some less relevant, already-existing solutions. Does it mean this is the best decision? There are both positives and negatives, requiring us to analyze carefully both platforms which are currently available.
A web-based solution accessible from any browser, Frontrader is the main platform at EFT Markets, incorporating TradingView charts, price alerts, as well as account management functionalities (changing account settings, making deposits, contact customer support, etc.).
To help traders stay updated with the latest market news, the broker offers access to the latest headlines published by CNBC, one of the popular finance-oriented news media.
At the same time, the platform is highly customizable, allowing clients to adjust windows, change between several different languages or platform skins. Overall, we concluded that the platform is simple, responsible, and flexible, some of the most important qualities it should have. One of the downsides is that traders won’t be able to use Expert Advisors to automate their trading.
- EFT Markets Trading App
To further enhance its platform offering, EFT Markets had also developed a mobile trading app, currently available for Android devices. Most of the features seen with the web-based software are incorporated into the app, which means traders will benefit from the same trading experience, even while on the go. They can analyze charts, find new opportunities, or manage existing positions depending on the market movements.
EFT Markets Assets
With more than 1,000 different assets, ranging from FX, stocks, indices, commodities, and cryptocurrencies, EFT Markets provides enough tools to build a diversified portfolio. As an ECN broker, trading costs are reduced and in line with what other big market players are offering. Traders with different objectives and orientations could find this broker appealing due to the asset coverage and competitive trading conditions.
We must highlight the importance given to the cryptocurrency section of the asset list. EFT Markets covers tens of different cryptocurrency instruments, denominated in USDT, BTC, or ETH. Traders can get involved in a wide range of liquid products, based on tokens like Ether, Litecoin, Dash, Monero, ZCash, IOTA, and many others, alongside Bitcoin, the most popular crypto in the world.
EFT Markets Account Types
The 5 EFT Markets account types are providing access to different trading features, as the broker makes a differentiation based on the initial deposit. Standard, Silver, Gold, VIP, and Pro accounts are currently part of the offer and come with multiple benefits.
Access to daily news and a Trading Academy, weekly market reviews and portfolio progress reports, monthly sessions with a certified accountant, live stream trading webinars, and plenty of other premium features are currently available.
Alt-text: EFT Markets account types
To deposit funds with EFT Markets, traders can use a simple credit/debit card, wire transfer, and BPay. This applies to fiat deposits in USD, EUR, or GBP. On top of it, the broker accepts cryptocurrency deposits in Bitcoin, Ether, or Tether. This is a feature available only with a limited number of other brokers, giving EFT Markets an important competitive advantage. For withdrawals, the same method used for the deposit will be used.
Trading features by EFT Markets
Trading with EFT Markets means traders can benefit from up to 1:400 leverage and up to 100% margin loan. Spreads are very tight and make trading with this broker cheap. For VIP and Pro account holders, daily market signals and in-depth research is available. On top of that, they can benefit from invites to VIP events and up to 50% discount on commission.
At a time when markets are changing fast, EFT Markets wants to provide a unique and reliable trading offer, such that can assist traders in handling the market uncertainty. Via proprietary software and a multitude of trading functionalities, EFT Markets wants to work on customers’ behalf, committed to the highest trading standards and work ethic. We did not find any reason to believe this broker is not reliable. More information can be found on its website or by contacting the customer support services, available 24/6 each week.