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EFT Markets – ECN Broker Review

EFT Markets Introduction

Fully aware that selecting a good broker is very important for traders, EFT Markets provides an innovative approach to trade, and a solution for worldwide investors which is both simple and unique. Its primary goal is to support customers in achieving their trading goals via proficient features, reliable tools, and trusted information.

As a result of those efforts, EFT Markets has gradually managed to become a world-renowned financial services provider, currently serving customers from all around the world. Most of you probably wonder why you should choose to work with this provider, and the answer is a combination of various factors:

  • A next-generation trading platform
  • Competitive spreads and ultra-fast execution
  • Advanced graphs and analysis tools
  • Secure trading on desktop, laptop, mobile, and tablet

Proprietary Platform for all Customers

Since it aims to optimize your trading experience, EFT Markets relies on a proprietary web-based platform, a solution promising to be both simple enough for beginners, and packed with the tools necessary when dealing with volatile financial markets. Featuring advanced charting, an integrated economic calendar, price alerts, one-click trading, trading signals, and other perks, this is a platform that has already proven to be reliable.

It does not need any installation and thus you can log into your account via eftmarkets.com from any type of device. On one hand, this ensures enough flexibility, but on the other, some traders might desire a mobile app or a downloadable desktop solution. Either way, EFT Markets is constantly looking for ways to upgrade its trading offer.

FX and CFDs asset coverage

Using only one multifunctional platform, clients can get involved in more than 1,000 tradable instruments.  Forex trading with EFT Markets means the ability to gain exposure to major currency pairs and some less-popular pairs as well, now that activity in the currency market has been energized by both fiscal and monetary interventions.

Depending on the account type chosen, traders can trade FX with leverage ranging between 1:200 and 1:400. Liquidity, tight spreads, and the ability to trade on a demo account are features every trader has access to.

Even though this review is focused in particular on FX trading conditions, you also need to know that the EFT Markets asset coverage does not stop at currencies. Hundreds of popular stocks and indices, actively-traded commodities, and a rich selection of cryptocurrencies all make finding the best-suited assets for you easier.

Trading Conditions

Not all customers benefit from the same trading conditions at EFT Markets, mainly because there are 5 different account types available, each requiring a specific initial deposit. In exchange, the broker opens up access to a mix of features designed to help traders develop technical and fundamental analyses, as well as to provide needed customer support.

The current offer includes the following options:

  • Standard account
  • Silver account
  • Gold account
  • VIP account
  • Pro account

Accounts with an initial investment of $10,000 are in the Standard category and the list of features attributed includes 1:200 leverage, daily news, a trading academy, market reviews provided weekly, an account manager, and a weekly portfolio progress report.

EFT Markets trading conditions

For any account upgrade, EFT Markets provides additional features, such as commission discounts, weekly 1-on-1 sessions with market analysts, a personal portfolio manager, and in-depth research.

Account Funding

To make a deposit to a live account, you can use a credit/debit card. EFT Markets accepts most major issuers, including Visa, Mastercard, and Maestro. The advantage here is that the deposit is immediately credited to your account. A second option is via a bank wire transfer, yet in this case, banking fees might apply and the processing time could take up to several days, depending on the banks involved and your country of residence.

For withdrawals, the same methods can be used. However, customers need to be aware of the ‘anti-money laundering’, ‘counter financing of terrorism’, and ‘knowyourcustomer’ procedures, which all require traders to verify their identity and address before withdrawal.

EFT Markets KYC requirements

Pros

  • Competitive trading offer for forex instruments
  • Simple and fast web-trading platform
  • Coverage for most popular payment methods

Cons

  • Only Pro accounts can trade with 1:400 leverage
  • Live chat customer support available only in English
  • Not regulated in the EU or the USA

The Bottom Line

The EFT Markets offer is designed for retail traders around the world, wishing to avoid all the limitations made by other brands, and trade a solid package of assets with flexible costs on a reliable trading platform.

They only limitations left to consider are the regulatory ones, since the services provided can’t be obtained everywhere, especially where local regulation does not allow online trading. As a trading brand, EFT Markets constantly works on ensuring optimal trading conditions,in order to increaseits customer base. For more information on what it currently offers, feel free to check eftmarkets.com

About Abram Jayce

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