Marketssoft.com Review: Markets Soft Broker, a Scam?

Markets Soft is a CFD ( contract for difference) broker offering a wide range of trading instruments ranging from Forex to stocks, indices and commodities.

Markets Soft broker provides video courses, ebooks, webinars, Glossary and an FAQ page for traders to get started on their platform.

There are 6 different account types for traders and as usual, these account types have various features that entice traders with different needs.

Markets Soft broker believes that their approach is innovative and that they are offering traders from across the globe a simple alternative.

They want traders to know that Markets Soft is using the same level of encryption technology as the banks to protect traders security and privacy.

Among the things they use to advertise to traders include quick deposit and withdrawal times, support for a wide range of trading instruments, security of investors deposits, 24/6 support including live expert assistance and so on.

Markets soft also wants traders to know that they’re running the next generation trading platform and that traders can enjoy competitive spreads, ultra fast execution and high returns.

In addition to this, Markets Soft wants traders to know that they’re providing multi-lingual support, daily news and analysis, advanced trading tools, live charts and data, an online education center and personal account managers.

Markets Soft is owned and operated by Horizons LTD. Their physical address is Suite 305, Griffith Corporate Centre
St. Vincent and the company is registered under 25316 BC 2019.

They state on their website that Market Soft transactions are processed by Horizons Ventures OU, registration number:14643552.

The details under which Horizons Ventures OU is licensed are as follows:

FFA000322, situated at Tornimae 5, 10145 Tallinn, Estonia.

Therefore, Markets Soft is not licensed directly to offer trading service. It is enjoying the cover of its mother company, Horizons Ventures.

Therefore, in this Market Soft review, we’ll help you decide whether or not this broker is good for you.

Markets Soft review

MarketsSoft is claiming to provide over 1000 assets. They are currently using trading resources and things such as deposit bonuses to attract new traders.

Welcome deposit bonuses start at 40% up to 100% for Platinum account types. The trading conditions for these account vary greatly which means that traders with different needs will be able to take advantage of the supposed benefits as advertised on the MarketsSoft broker’s website.

They claim to provide cutting edge trading technology for their traders but when we checked their trading platform, it was just a web-based platform that is different from the usual MT4 or cTrader platforms.

This is the same thing that shady brokers like FXCryptoClub.cc have offered to their customers.

Furthermore, Markets Soft is operating from the Saint Vincent and the Grenadines. This is a favorite destination for brokers who want to steal from their customers.

Even though they claim that Markets Soft brokerage is regulated, their licensing status is not very straight forward.

We prefer brokers who are directly registered with an overseeing regulatory body as opposed to those that use umbrella companies to claim that they are licensed.

Account types offered by MarketsSoft Forex broker

There are 6 different account types. These include Basic, Bronze, Silver Gold, Platinum and Black. All accounts provide 24/6 support to their customers which is a good thing considering that most brokers only operate on a 24/5 basis.

market soft account types

Education center is offered in all account types, same as daily market reviews and pro webinars. Account manager is available to all account types except the basic one.

These account managers also hold different experience levels. Therefore, based on the account type you hold, you will gain access to a junior or senior account manager.

Trading signals are offered to Gold and Platinum account holders only, same as personalized trading strategy. Exclusive position access and 1-on-1 training is offered to Platinum account holders only.

The minimum deposit to start trading with MarketsSoft broker is $250 while the maximum is $25,000. When traders want to deposit more, they must consider applying for their black account type by contacting the broker directly.

What is the spread like?

Silver, Gold and Platinum seem to be treated differently in terms of spread conditions. I’ve heard some traders say when they tested these accounts, they got wide spreads as high as 6.5.

This is what I expect from most brokers who are based in the st. Vincent region. They make use of absurd spreads to take advantage of the client’s money.

The higher the spreads, the higher the risk of losing your trades as this is considered unfavorable trading conditions.

Markets Soft review: information on leverage is hidden

Regulatory organizations have set leverage caps for brokers under their jurisdictions.

It’s necessary for every broker to publish leverage info on their website. If a broker does not provide this information, it would mean that traders are signing up without knowing whether or not their deposits would be sufficient for trading.

Withdrawal fees

Markets Soft charges a standard fee of 3.5% for all withdrawals across all methods of payment. This is quite unfair as no broker in his sane mind can charge such numbers.

Regulatory warnings

The FMA in Australia has issued an official warning against Markets Soft accusing them of targeting residents of Austria.

A Forex trading brokerage that gets such warnings can be dangerous to trade with.

You should avoid Market Soft at all cost.

Conclusion

MarketsSoft is definitely a platform for trading but their operation is not at par with the best brokers around.

Secondly, Markets Soft regulatory license is doubted. There’s a chance that this broker will scam anyone who attempts to deposit a huge amount of money.

With no MT4 or cTrader platforms, no trader can use this platform.

Thanks for reading the Markets Soft review.

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