In this MarketsCG review, we will discuss one broker that has a portfolio of more than 100k trading assets. Yes, you read right, I didn’t put an extra zero by accident, it really provides that many assets to all of its clients.
This broker is registered in the capital of Saint Vincent and the Grenadines, Kingstown. If you open an account, you can expect trust and security, reliable customer service, deep liquidity, and tight spreads. Well, that’s what it claims, but it is up to us now to see whether those claims are just a nice story to attract clients or they are really true.
Why don’t we start with Account Types? It seems like a nice idea to see what the trading conditions at the very beginning are. This way, we will know what to expect in the future. There is a possibility to select one of five trading accounts. Not bad at all, I have to admit.
Silver Account is the first and the smallest one. You have to deposit from €10,001 to €20,000 and you will receive up to 20% of welcome credit. The maximum monthly exposure is $20,000 and you can get 1:20 leverage.
Gold Account has a bigger deposit requirement (from €20,001 to €100,000) but you will get more things than in the Silver one. For example, welcome credit is up to 40% and the leverage is 1:40. The maximum monthly exposure is $50,000 and this broker will organise 1 on 1 educational course, weekly managed sessions and provide you with daily market reviews.
Platinum Account is the one where you need to deposit from €100,001 to €200,000. What makes it different from previous are quarterly dividends you get, up to 60% of welcome credit, access to premium trading rooms, and $300,000 maximum monthly exposure.
Diamond Account will give you the leverage of 1:100 and welcome credit up to 80%. The maximum monthly exposure is $750,000 and the deposit needs to be between €200,001 and €499,999. Also, you will get a VIP mentorship program.
VIP Account is the last, and most exclusive one. If you deposit €500,000 or more you can use every single benefit MarketsCG provides, and trust me when I say, it provides a lot of great things. Let me just mention the welcome credit that is up to 120%, $2,000,000 maximum monthly exposure, and 1:150 leverage. But that’s not where the excellent offer ends and you will see that by yourself soon.
The only thing I can say about trading conditions is that I am beyond satisfied. This broker achieved to make an incredible offer that you do not see on every corner.
Quality of service
In this MarketsCG review, quality of service includes everything. From website design to trading platform. All those things that make our trading journey more delightful. So, what do I think about web design? I think it’s done in a nice manner, it has the necessary information and yet it’s not too minimal. We can cross off the perfect balance from the list, MarketsCG managed to reach it.
I won’t waste your time speaking of design since that depends on individual taste, but let me tell you one more thing before we continue. It is optimised! Yes, the most important thing is achieved. I hate to see great websites that are not accessible on the phone. With this broker, you will be able to trade no matter the device.
Let’s move on to the more important thing like the Trading Platform. MarketCG provided a web-based one. It’s simple and neat and you can find everything inside. You can switch between Forex, Commodities, Crypto, Stocks, and Indices, and there is a possibility to change the preview (you can list trending assets, daily change, or simply by the name).
To finish my impressions about the quality of service I want to reflect on one more thing — education. Let’s see if this broker wants to have clients who can grow and gain new skills or that’s not really the case. In the main menu, you will find an Education Center. There are different learning materials within this section so you can choose one of the numerous eBooks, read the Glossary, and familiarise yourself with specific terms, etc. As it looks like, if you start trading with MarketsCG you will learn a lot of new things.
You can see that this broker provides top-notch service but there is still one more thing to see, how helpful customer service is.
Speed of response
Let me tell you something, I am quite particular when it comes to customer support. If you want to earn pluses from my side, you have to provide a lot. So, if I don’t see different methods and fast responsiveness, I cannot say a single positive word.
Honestly, I expected a lot from MarketsCG and I was relieved to see there are numerous methods for contact. If you like to solve things with a good talk, you can call them (two different numbers are provided). If you are an email type of person, you can send one depending on the request (support or compliance). Aside from emails, there is an online form that works on the same principal but you can send a message directly from the website.
Lastly, my favorite option, Live Chat. I decided to test the responsiveness of their customer representatives by sending a message here and they did not disappoint me. I got a reply within a couple of minutes with the full instructions. They were friendly yet very professional.
Transaction speed is a thing that varies from one broker to another. Luckily, MarketsCG doesn’t like to waste your time. The average waiting time is from seven to ten business days, depending on the account type. Once you choose the account, you will know exactly how much time you need to wait. And that is the transparency you don’t see often.
Clients who have a Silver Account have to wait for the longest, up to seven business days. With Gold Account that period is five business days. If you choose Platinum Account, the waiting process takes only three days and with Diamond, it’s two. Lastly, we have a VIP Account that offers instant withdrawals. Once this broker approves your request, everything depends on your payment provider.
There is a possibility to speed up the whole process a little bit. MarketsCG is excellent at providing security to all clients. That said, before each withdrawal you need to go through Identity Verification. So, if you go to the KYC Policy page on the website and see everything you need to provide, you can prepare those documents in advance. If you do that, you can send the documents alongside the request and someone from MarketsCG can go through everything instantly.
The biggest concern of each trader are hidden fees. Oftentimes brokers don’t even mention additional commission, they just charge you upon withdrawal. Well, with MarketsCG things are different.
When you go to the Terms and Conditions page, you can see each fee and the amount, everything is fully transparent. You can expect to pay an Overnight Fee and it may apply to each Forex or CFDs open position at the closing of the trading day.
Also, this broker charges a withdrawal fee of only 1% (the minimum fee is 30 USD/GBP/EUR and the maximum is 300 USD/GBP/EUR). And that’s it, there is nothing else to pay which is great.
Regulations are a tricky thing. People like to stick to them, without checking other things that are offered. So, when you are in a process of choosing the right broker for you, don’t just look for the license, but see the overall experience.
MarketsCG doesn’t have a trading license, but it offers so many great possibilities it would be a shame if you skip them all only due to the missing license. Most importantly, this broker proved that it takes good care of the safety of funds.
Variety of payment methods
There are a couple of payment methods you can choose and the one you choose for deposit needs to be the one for withdrawal. It’s on you to decide whether you want to go with Credit Cards, Bank Transfer, or Bitcoin Transfers.
There are no deposit fees, which is great and you can use multiple cards to deposit at your trading account. But, once you want to withdraw that funds, each card is entitled to the equal amount you transferred. Let’s say you used one card to deposit $1,000 and another to deposit $2,000. Once you withdraw your funds, the same amount will be returned to each card and any additional profit needs to be withdrawn with Bank Transfer directly to your account.
For the Bitcoin method, MarketsCG determines the exchange rate at the time the transfer is processed and not at the time of the exchange. You can even visit a website where this broker determines the rates, so as we already saw, MarketsCG runs one pretty transparent business.
My final thoughts about this broker are nothing but positive. It provides everything to the clients and the last thing I can say in this MarketsCG review — you have my recommendation to open an account and start trading.