If you are looking for a reliable and trustworthy online broker, you might have come across Marketsbank. This broker claims to offer a wide range of trading instruments, including forex, stocks, commodities, indices, and cryptocurrencies. But is Marketsbank a scam or a legit broker? In this review, we will examine the features, advantages, and disadvantages of Marketsbank and help you decide if it is worth your time and money.
What is Marketsbank?
Marketsbank is an online broker that was founded in 2018 and is based in St. Vincent and the Grenadines. The broker is operated by MarketsBank Ltd, which is registered with the Financial Services Authority (FSA) of St. Vincent and the Grenadines under license number 25431 BC 2019. According to its website, Marketsbank aims to provide a secure, transparent, and user-friendly trading environment for its clients.
What does Marketsbank offer?
Marketsbank offers access to over 250 trading instruments across various asset classes, such as forex, stocks, commodities, indices, and cryptocurrencies. The broker supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are widely used and popular among traders. The broker also provides a web-based platform and a mobile app for convenient trading on the go.
Marketsbank has four types of accounts to suit different levels of traders: Basic, Standard, Gold, and Platinum. The minimum deposit required to open an account is $250 for the Basic account, $2,500 for the Standard account, $10,000 for the Gold account, and $25,000 for the Platinum account. The accounts differ in terms of spreads, leverage, commissions, bonuses, and other features.
Some of the benefits of trading with Marketsbank include:
- Competitive spreads and low commissions
- High leverage up to 1:400
- Fast execution and no requotes
- Free demo account and educational resources
- Dedicated account manager and customer support
- Secure deposits and withdrawals via various methods
What are the drawbacks of Marketsbank?
- Lack of regulation by a reputable authority
- Limited information about the company’s background and ownership
- High minimum deposit requirements for higher-tier accounts
- No negative balance protection or compensation scheme
- Potential conflicts of interest as a market maker
Is Marketsbank a scam or a legit broker?
Based on our research and analysis, we cannot conclude that Marketsbank is a scam or a legit broker. There are some positive aspects of the broker, such as its variety of trading instruments, platforms, and account types. However, there are also some negative aspects, such as its lack of regulation by a reputable authority, limited transparency, and high minimum deposit requirements.
Therefore, we advise you to exercise caution and due diligence before opening an account with Marketsbank. You should also compare it with other regulated and reputable brokers in the market and weigh the pros and cons carefully. Remember that trading involves risk and you should only invest what you can afford to lose.
What to Do If You’ve Lost Money with Marketsbank?
If you have been scammed by Marketsbank or any other broker, you’ll want to seek assistance from cryptocointrace.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Cryptocointrace.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.