No Limit Markets Information
No Limit Markets, registered in 2024 in Saint Lucia while operates in Dubai, UAE, is a forex broker who offers a wide range of currency pairs for trading. Traders can reach trading assest such as forex, commodities, indices and cryptos in 3 tiered live accounts. The minimum deposit requirement is $100, affordable to most traders. The trading platform it uses is the well-acclaimed MetaTrader5. The broker enables 2FA, fund segregation and KYC processes for fund protection of clients.
Furthermore, No Limit Markets offers a wide range of educational resources in videos, such as the basic forex trading glossary, to the in-depth trading strategy.
However, it should not be neglected that the broker currently operates without regulation from any authorities.
Pros and Cons
Is No Limit Markets Legit?
The broker operates without any valid supervision from any regulatory authorities. It raises a question about its legitimacy and credibility because regulated brokers usually adhere to strict industry standards to protect customer funds.
What Can I Trade on No Limit Markets?
No Limit Markets claims to offer several trading assets mainly in four categories: currency pairs, commodities, indices, and cryptocurrencieson.
- Forex: Trade global currencies to capitalize on the dynamic forex market. Popular and most traded pairs include EURUSD, AUDUSD, etc.
- Commodities: Diversify your portfolio with essential commodities like precious metals such as gold, silver, as well as energy products like oil, etc.
- Indices: Gain exposure to specific sectors or regions through market indices.
- Cryptocurrencies: Trade digital currencies like Bitcoin and Ethereum, tapping into the evolving crypto landscape.
One of the key principles of trading is never put all your eggs in one basket. Choose several products at one time to scatter risks.
Account Type (Minimum Deposit/Spread & Commission)
No Limit Markets does not offer demo accounts for testing and practicing, but it provides 3 tiered live accounts with different trading conditions for different client groups.
The Standard account is mainly targeted at novice traders who usually require less initial deposit, the amount of which with No Limit Markets is $100. The account endows a spread from 1.5 pips and does not charge a commission.
Going further, the ECN account requires a minimum deposit of $200, with much better spreads from 0.4 pips. But there will be a commission of $2.5 per lot for both sides.
If you gather enough experience and financial capital, you can choose to trade in the ECN Plus account who requires an entry point of $10,000 but with the lowest spread amongst all accounts: 0.2 pips. Commission is slightly lower at $1.75 per lot traded and you will have direct market access with more functions with this account. Institutional traders can also opt for this account.
Moreover, Islamic account swap-free trading is eligible for each live account for those who need to comply Sharia-laws.
Nonetheless, the broker does not disclose detailed information about leverage, which you need to seek clarification directly with them when deciding to initial real trading activity.
Trading Platform
No Limit Markets offers the industry-leading Metatrader 5 (MT5) platform, known for its advanced features, user-friendly interface, and robust trading capabilities. MT5 provides access to a wide range of trading instruments, powerful charting tools, and automated trading options.
Deposit & Withdrawal
No Limit Markets allows traders to fund their accounts with the convenient and effective Visa Card, which is globally accepted and trusted.
Customer Support Options
When you encounter problems and want support from the broker, you can call them, email them, chat with them online from 8 am to 12 pm GMT Time, visit their office in Saint Lucia in person, or submit a support ticket on their website and wait for callback from a representative.
Furthermore, you can also interact with them on social platforms such as Facebook, YouTube, Twitter, and Instagram.
The Bottom Line
In summary, though No Limit Markets is not regulated by any authorities so far, it offers a wide range of options for trading and abundant educational resources for investors to learn from. Additionally, its initial investment requirement is affordable to most traders and the MT5 trading platform guarantees smooth trade execution.
But clients from EU/EEA/UK/US should be mindful that No Limit Markets' services are not directed to them. Furthermore, thoese who cares about reputation of a broker should also be careful with this broker since it's newly founded in 2023 only and do not have sufficient industry experience.
FAQs
Is No Limit Markets safe?
Though the broker is not regulated so far, it's relatively safe due to several protection measures such as KYC, 2FA and fund segregation.
Is No Limit Markets good for beginners?
Yes, the broker offers educational resources including the basic glossary for investment definitions. In addition, the initial deposit requirement at $100 with zero commission is also friendly to beginners.
What trading platform does No Limit Markets have?
No Limit Markets offers the flagship MT5 platform on iOS and Android phones.
Are there any restricted areas of No Limit Markets' services?
Yes, the company does not target EU/EEA/UK/US clients.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.
