Note: The details presented in this review are subject to potential modifications due to the ongoing updates to the company's offerings and policy adjustments. Additionally, the relevance of this review's information may be influenced by the original publication date, as service details and policies may have evolved since that time. Hence, it's crucial for readers to seek out the most current information directly from the company prior to making any decisions or initiating actions based on this review. The responsibility for utilizing the information provided herein lies entirely with the individual reader.
Should there be any discrepancies between visual and written materials in this review, the written information takes precedence. Nonetheless, for a more comprehensive understanding and updated details, accessing the company's official website is highly recommended.
What is Currency Market？
Currency Market is a broker based in China in 2006. It currently holds no regulations.
Pros & Cons
Pros:
Competitive Spreads: Currency Market offers competitive spreads, starting from as low as 1 pip, enabling traders to save costs and increase profits.
Mobile App Available: Having a mobile app allows traders to manage their investments and trade on the go, which is a significant advantage in today's mobile-centric world.
No Replenishment Fees: Currency Market does not charge any fees for replenishment.
Cons:
Limited Customer Support Channels: The customer support channels provided by Currency Market are limited to email only and it does not provide any immediate way to contact. This limited customer service will lead to delayed responses.
No Regulation: Currency Marketis not currently regulated by any external authority. This absence of regulatory oversight will concern users about its standard of oversight and protection offered.
Is Currency Market Legit？
Regulatory Sight: Currency Market is currently without regulatory oversight and any licenses that would enable it to conduct its operational standards in the financial market. This lack of regulation poses numerous risks to investors, such as a lack of transparency, security concerns, and no guarantee of adherence to industry standards and practices.
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
Market Instruments
Currency Market offers a certain range of market instruments. These include:
Forex: Forex trading involves the exchange of one currency for another, and it is the largest and most liquid market in the world.
US Stocks: US stock trading involves buying and selling shares of publicly traded companies in the United States.
Currencies: Offers opportunities for forex trading, where traders can buy and sell currencies in the highly liquid forex market, including major, minor, and exotic currency pairs.
Precious Metals: Trading in precious metals such as gold, silver, and platinum is popular among traders looking to hedge against inflation, currency devaluation, and market volatility.
Energies: The energy sector is another key area, featuring trading options in commodities like crude oil, natural gas, and heating oil.
Account Types
Currency Market provides three different account types for users. These are Micro, Mini, and Classic. The Micro account has the lowest minimum deposit of just $200 and the smallest position volume of 0.01 lot. The Mini enjoys the same trading conditions but a large position volume of 0.1 lot. Classic users have more conservative leverage. Users can check the details below.
Leverage
Currency Market provides a maximum leverage of 1:30, but for Classic accounts the leverage is limited to 1:2 only, which is very conservative. Leverage allows traders to open positions that are larger than their actual deposit. In this case, with a leverage of 1:30, for every 1 a trader has in their account, they can take a position in the market up to 30. This could potentially amplify profits, but losses can also be amplified, particularly for inexperienced traders.
Spread
Currency Market offers a spread starting from 1 pip for all account types, which is relatively competitive compared with the average spread level of around 1.5 in the industry. Competitive spreads can save a lot of money for users in trading, which is quite an advantage.
Trading Platforms
Currency Market allows users to trade on its browser-based trader, with no need to download the software. Users can also choose to download the PC terminal from the link on the website: https://currencymakret.utip-download.com/tradersetup.exe. Currency Market also supports on-the-go trading through its mobile app - My Trading, which can be downloaded both from Google Play or Apple Store.
Customer Support
Currency Market's customer support is limited to email only, which is at support@currencymakret.com. There is no immediate way to contact them, such as phone calls or live chat. Support via email only is very limited, since users cannot get responses from its customer support team swiftly.
Conclusion
As a broker, Currency Market provides a certain range of market instruments, competitive spreads and a mobile app. However, its customer support is rather limited and it does not hold any regulations.
Frequently Asked Questions (FAQs)
Does Currency Market support MT4/5？
No, it supports neither.
Is Currency Market regulated？
No, it is not regulated.
Can I use my mobile phone to trade？
Yes. Its mobile app is My Trading, and you can download it from Google Play or Apple Store.
What is the maximum leverage provided by Currency Market？
The maximum leverage provided by Currency Market is up to 1:30.
What is the minimum deposit required to open an account？
The minimum deposit required is $200.
What is the lowest spread provided by Currency Market？
The lowest spread provided by Currency Market is 1.0 pip.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
