MarketsWorld Review – Best binary options for the US?
MarketsWorld is one of the online binary options brokers that we can truly categorize as ‘unique’. Founded in 2011, this company is a subsidiary of Markets The World Limited. They are headquartered in the Isle of Man and are one of the few companies we’ve found to be regulated by the Gambling Supervision Commission (GSC). Being a British licensed company MarketsWorld offices are located in Burleigh Manor, Peel Road in Douglas Isle of Man.
Why do we consider MarketsWorld unique? Well, GSC’s main focus is regulating gambling companies as opposed to binary options brokers. MarketsWorld doesn’t claim to be a broker or even an exchange. We also found their business model to be more or less like that of a casino. They are licensed and regulated under e-gaming laws. However, this doesn’t mean that your chances of making money trading options on their platform are lower compared to trading on a different broker’s platform. There will always be risk involved when trading financial instruments regardless of the platform you trade on.
Is MarketsWorld a scam or legit binary options trading platform?
Since they started operating online in 2011, MarketsWorld has continued to attract traders from across the globe. The fact that they have been successfully operating in one of the highly regulated regions in the world is another defining factor about their legitimacy. We would prefer that they were regulated like a broker rather than as a gambling entity. However, being regulated is better than not having an authority keep track of its operations.
What makes MarketsWorld stand out?
Their business model is closer to that of a casino than to that of a binary options broker. This allows MarketsWorld offer traders favorable features such as extra high effective returns (up to 90%) and deposit bonuses of up to 100%. Like many brokers regulated by the GSC, MarketsWorld isn’t restricted from offering monetary incentives to attract new clients. They’ve used this to their advantage and offer a variety of incentives including refer a friend bonuses and regular contests to earn traders more cash.
Another feature that makes MarketsWorld stand out is their free demo account. We liked the fact that all you need is provide your names and email address to open a demo account that’s credited with $5000 virtual cash. There’s no time limit to how long you can use this account and, you are also allowed to open unlimited demo accounts.
General Risk Warning! your capital may be at risk.
The downsides of MarketsWorld.
Interestingly, we also found their casino like business model to be one of their major downsides. Their homepage seems more focused on wooing traders to join through aggressive promotions. Something you’ll find in many gambling sites. The platform’s design also needs some tweaking to make it easier for new traders get accustomed to.
Another downside of their business model is that they aren’t able to offer a wide selection of tradable assets. MarketsWorld also only offers the classic high/low trade options and short term trade expiries. This can be limiting for many advanced financial instruments traders.
Is Marketsowrd recommended for the US traders?
MarketsWorld has gone to great lengths to become one of the preferred trading platforms in the world today. However, like many online brokers, their services are only available to traders from specific regions. In this case, MarketsWorld accepts traders from the US but traders from the state Arizona are not accepted.
Now should you open an account with MarketsWorld?
We liked the simple design of the MarketsWorld platform. According to the company, the platform is custom made to meet the needs of the traders they target. This could explain the major differences we noted between the MarketsWorld platform and other broker’s platforms. For instance, the MarketsWorld platform lacks many features you’ll expect to find on a binary options brokers website. For example, the shortest time a trade can last is 5 minutes. That’s quite a long time for traders used to 30-second trade expiries.
We also liked the fact that the MarketsWorld platform can be accessed via mobile devices allowing you to trade from almost anywhere on the globe. Accessibility by traders from different regions across the globe is also made possible by the websites multilingual nature. MarketsWorld is available in 13 different languages.
MarketsWorld has a very limited financial instruments list. This includes currency pairs, indices and commodities. Their main focus seems to be FX pairs making it a good place for beginner traders to launch their options trading career. For the expert trader, this limited number of tradable assets could be a turn-off. However, despite being limited, this list includes highly sought after indices and major currencies which make the platform worth considering.
This binary options broker only offers the classic high/low trade type. If you’re looking for more exotic and complex trade types such as one touch and boundary options which allow you to profit within a short amount of time. The minimum expiry period for a trade is 5 minutes. The longest you can maintain a position is 2 hours.
Do they offer a Demo account at MarketsWorld?
Opening an account with Markets World is quite simple. If you don’t want to risk real cash, the platform provides a free demo account that’s credited with $5000 virtual cash. All that’s necessary to open a demo account is your name and email address. The demo account doesn’t impose time limits on its use or require you to eventually open a real cash trading account.
If you decide to open a real cash trading account, you’ll need to provide additional personal details including your preferred payment method. MarketsWorld accepts several payment methods including wire transfer, credit cards, and e-wallet. The minimum deposit amount is $10. This makes it easy to test the platform without having to invest a lot of money. Depending on your preferred payment method, the deposit amount will reflect in your trading account instantly or within a few hours. The minimum amount you can place on a trade is $1. This also makes it easy to have control over your account balance. In case you want to invest more in a trade, MarketsWorld allows up to $1000 per trade.
General Risk Warning! your capital may be at risk.
Withdrawing your earnings is also straightforward. This binary options broker accepts withdrawals made through all the aforementioned payment methods. Like with many online financial instruments brokers, the amount withdrawn will take 7 to 10 days to reflect in your account. Traders opting to withdraw their earnings via wire transfer are offered a zero fee withdrawal for the first transaction. Subsequent transactions will attract a $50 withdrawal fee. Other payment methods might also attract withdrawal fees although MarketsWorld has recently reported that they’re working on waiving fees charged on e-wallet and credit card withdrawals.
Markets World has gone to great lengths to ensure that traders can make as much profit as possible while buying and selling binary options. Effective returns on successful trades can be as high as 90%. New traders are also offered bonuses which include the following:
– A $50 risk-free trade allows you to invest up to $50 on a single position without risking loss of investment.
– A $10 no deposit bonus is offered for simply opening a real cash account.
– You can refer a friend and get up to $500 bonus in your account.
– You can get up to 100% of the amount you deposit into your trading account with a limit of $1000 Besides bonuses, MarketsWorld also awards a monthly loyalty reward to a lucky trader who has been active on the platform.
Customer support is one area we found Markets World excelling at. Traders can easily get in touch with the support team via live chat, email and phone. The designated phone number is +44 (0) 1624 679 022. However, even with excellent customer support, the company falls short with regard to the educational resources they have on their website.
MarketsWorld trader complaints.
For a company that has been offering binary options trading services for over 6 years, we were surprised to find that there were no serious complaints from traders. Most of the complaints we found were primarily focused on the limitations of the platform such as lack of exotic trade types and the time it takes to withdraw earnings. However, such complaints are quite common among many traders.
User friendliness.
We expect that any online binary options broker have a user-friendly interface. The platform’s design is slightly above average. We agree that it’s simple to navigate around the site. We also like the fact that the platform can be accessed via mobile app and in 13 different languages. However, we expected to find additional features such as a rich educational resource to help new traders get a hold of the trading process.
Tradable assets.
MarketsWorld has a total of 18 tradable assets divided among currency pairs, indices and commodities. However, the company is more focused on currency pairs offering 14 different pairs. Interestingly, the only commodity on offer is gold. This limited number of tradable assets makes it a bit difficult to diversify your trading portfolio. However, for novice traders, having a small assets list to choose from makes it easier to learn how to trade and manage your account before diversifying into other asset types.
Deposits, bonuses and withdrawals.
Like most online binary options brokers, Markets World accepts several payment methods including credit card, wire transfer and e-wallet. Opening an account and making your first deposit is simple and straightforward. All fees that you might incur while transferring money to your trading account are handled by the company.
MarketsWorld offers a variety of bonuses for new and existing traders. New traders can get up to 100% the amount they deposit into their account. A $10 no deposit bonus is awarded just for opening a new account. Referring a verified trader can also earn you up to $500. These bonuses can also be withdrawn once you achieve a specific threshold trading with the bonus amount.
Withdrawals can be made through different payment methods. MarketsWorld charges a $50 fee on wire transfer withdrawals.
Effective returns, trade types and trade expiries.
Successful trades will attract an effective return of up to 90%. This is one of the highest in the market today. Markets World doesn’t charge a commission on trades allowing you to keep most of your earnings.
MarketsWorld only offers the classic high/low trade option. This is the basic trade type you’ll find in most brokers. As such, this platform is best suited for novice traders who want to acquire the skills necessary to trade using more advanced trade types such as one touch.
The high/low trade option means that the trade expiry periods will usually be intra-day. The minimum amount of time you can hold a position is 5 minutes and the maximum is 2 hours.
Customer support.
Outstanding customer support is one of the features we really liked about this broker. Traders can easily reach a customer support representative through phone, email or live chat. Their response is fast and members of the support team seem to know a lot about the industry.
Website extra.
The MarketsWorld website doesn’t boast a myriad of features like you’ll find in many modern platforms. However, their demo account really stood out. Opening a demo account is quite simple and there are no limits to how long you can use it. We also liked the fact that you can open unlimited demo accounts. The downloadable mobile app is also a website extra that deserves mentioning. It’s lightweight, easy to use and allows you to trade from almost anywhere in the world.
Open Marketsworld Account.
Whether you’re a novice or experienced binary options trader, finding a broker that’s fully regulated is the first step towards minimizing risks involved in this volatile market. Markets World is regulated by the GSC and has been operating online since 2011. Their unique business model sets them apart from traditional brokers allowing them to offer better effective returns as well as financial incentives that make it easy to maximize profit. Many experienced traders might find the platform limiting with regard to assets and trade types offered. However, their demo account and limited assets list makes it a good option for traders that want to sharpen their skills without investing a lot of money.
It is overall just a great broker, and I think that a lot of US traders are gonna to be happy whit this option broker. So if you have more interest in Marketsworld, and want to try the platform with their ”$50 dollar risk-free trade” Click the Link for the official website.