Marketspots Review – Is it the Right Choice?
With hundreds of brokers offering their trading services, it is perfectly normal for you to feel overwhelmed and confused. How do you figure out which is the broker for you? Of course, the one-size-fits-all approach cannot work here because every trader has a different trading style and their priorities also vary.
You have to bear that in mind when you are searching for one that can give you access to the financial markets of your choice and everything else you need. Some people may get frustrated and just pick one option, but this can come back to haunt you if you end up with a shady or scam company.
You have to make the right choice and the only way to do so is to check the different features and offerings carefully and ensure they are up to the mark. This is what you should when you come across Marketspots, a forex and CFD (Contract for Difference) broker, which seems to be a good option on the surface. In order to figure out whether it is the right choice for you or not, you need a Marketspots review, as this will provide details about their offerings. What should this review include? You can take a look below:
Security Features at Marketspots
Before you consider anything else, you should ensure that Marketspots is a secure broker because you cannot leave your personal information or your funds exposed. If they are compromised, it can result in disastrous consequences for you. You will come to know that the company has opted to use segregation of accounts for protecting the deposits entrusted to them by their clients. Secondly, they also use advanced SSL (Secure Socket Layer) encryption for protecting all sensitive and personal information.
Another layer of security has been added by Marketspots with the AML (Anti-Money Laundering) and KYC (Know-Your-Customer) security policies. These can help in verifying the identities of everyone who signs up on their platform, thereby reducing the chances of financial fraud, identity theft, and money laundering.
Trading Products at Marketspots
After you have determined the security of the broker, you should pay attention to the trading products you can invest in. There are more than 1,000 options that you will come across at Marketspots, which belong to some of the biggest financial markets in the world. You can trade shares in the stock market and options like Amazon, Apple, Tesla, AT&T, Sony, and PayPal are available. If you prefer to trade baskets of stocks together, indices like S&P 500, NASDAQ, and UK100 are also offered.
Moreover, Marketspots also gives you access to the world’s largest financial market i.e. the forex market, and currency pairs like EUR/USD, AUD/CAD, USD/CHF, GBP/USD, and NZD/USD are provided. If you enjoy volatility, you can try your luck in the crypto market, as they have added Bitcoin, Litecoin, Ethereum, and Ripple, amongst others. Lastly, you can balance your risks by investing in different commodities like precious metals and agricultural products.
Account Options at Marketspots
It is understood that if you decide to trade via Marketspots, you will need to open an account with them. But, which account? They have come up with five options because their goal is to cater to traders from different backgrounds and skill levels. You can choose from Standard, Silver, Gold, VIP, and PRO accounts, each of which offers a different set of features and have varying deposit requirements. The minimum deposit needed for the Standard account is $10,000 and for the Pro account, it is $1,000,000.
You will find that Marketspots has added a varying level of leverage and margin loan in each account. There are some features like Trading Academy, news, and account manager that are common in all accounts, but some such as account monitoring, sessions with analysts, and invitations to VIP events that can only be found in certain accounts.
When you put all of this together, it becomes apparent that Marketspots is a good and strong choice for any trader.