MarketSpots Review – Breaking Down the Features That Make MarketSpots a Leading Broker
MarketSpots Review
For a long time, I have believed that MarketSpots is among the leading brokers of our time. Now, it is not a personal choice but more of the things that this broker is right. I can tell you about a lot of brokers that pay attention to a lot of features, but are those features important? In many cases, what they are trying to offer you is attractive only on the surface. If you look deep into those features, you will realize that you are just paying for something you don’t really need. On the contrary, this broker is all about things that really matter and play an important role in your career as a trader.
How can I say that? Well, I am a trader just like you and I have benefitted from a variety of features from MarketSpots. When I trade with this broker, I feel as though every feature was designed just for me. I believe you will feel the same if you trade with this broker too. So, without taking any more of your time, let me review MarketSpots. I’ll let you discover the greats and the not-so-greats of this broker yourself.
| Broker | MarketSpots |
| Website | https://marketspots.co/ |
| Assets | Forex, Bonds, ETF, Indices, Stocks, Commodities |
| Customer Service | 24/5 |
| Bonus | Up to 50% |
| Trading Platform | Web Based |
| Mobile App | Yes |
| Accounts Types | Standard, Silver, Gold, VIP, PRO |
| Minimum Deposit | $10,000 |
| Payment Methods | Wire Transfer, Credit Cards, Internet Payments |
| Leverage | 1:200 |
| Training | Education Center and Webinars |
Features Helping MarketSpots Lead as a Broker
Web Based and Mobile Trading
Now, right from this feature, you will get a feeling that this broker wants to take care of all of its traders. I have been reviewing brokers for a long time. And I have to tell you that I like to review brokers only when I have tried some of their features. One of the things that I have noticed as a common factor in these brokers is how they approach trading platforms. So, you have two categories that dominate the market. The first category of brokers believes in providing you with a robust mobile trading application that works on your smartphone and tablets. They also provide you with a downloadable desktop version of that app.
The second group consists of brokers that provide you with a web based trading platform. This platform does not have to be downloaded and you get all the features of the downloadable trading platform on it. In this particular case, since you can use the trading platform from just about any device and anywhere in the world, you don’t need a mobile trading platform. Now, this is where MarketSpots proves to have a completely different approach. This broker is all about giving its traders everything and not holding anything behind.
So, as a result, MarketSpots offers you a mobile trading platform and a web-based trading platform. You can use the web-based trading platform on any device you would like without ever needing to download anything. On the other hand, you also have a mobile trading app that you can use on not only on your Android but iOS phones as well. Don’t you think this broker goes the extra mile to do something different for its trader from this feature alone?
Big Leverages with Risk Minimizing Strategies
I find the perfect balance of taking chances and staying safe as a trader when I trade with this broker. I think I have found other brokers that offer you huge leverages, much bigger than what MarketSpots has to offer. However, they fail to keep a balance between chance and safety. When you trade in financial markets, you are concerned more about minimizing risks and less about making profits. When you dodge risks, you automatically make profits. That’s what the best traders are great at when they trade in financial markets. That’s what makes them different from a new and novice trader.
I have noticed while trading with MarketSpots that this broker is all about keeping things balanced. So, you have a huge leverage of 1:200 on your trades. This means you can increase the size of your trades to cover even those that do not currently fit in your budget right now. At the same time, you can multiply and amplify your profits when you trade with leverages. But have you ever noticed that leverages can multiply and amplify your losses in the same manner? That’s where thinking starts for a new trader. If you really know how leverage works, you wouldn’t be all happy about using it.
You would actually think many times before you apply leverages on your trades. However, I think MarketSpots provides you with the perfect balance and lets you trade with peace of mind despite the risk involved in using leverages. The broker has allowed you to use stop loss strategies that keep you from losing all your money in a trade. More importantly, you have negative balance protection on your account, which means the broker will not let your account go in negative balance. You will never automatically be getting a loan from the broker just because a loss on your trade cost you more than what you have in your account. Isn’t that the perfect balance you are looking for?
Accounts
How many other brokers have you seen offering this particular feature? In my experience, this was the first broker I saw that was offering standard accounts to its traders. The best thing is that the broker has kept some really great choice for you in these accounts, and you can actually see everything clearly on paper. Just like other brokers have trading accounts, this broker has standard accounts in addition to those. These standard accounts have been designed for you to make profits on your deposits. You don’t have to do much. You just deposit funds in your accounts, and wait for those funds to yield profits for you.
So, when you open a standard account, you have to wait for a certain period before it yields profit. That period has been clearly defined by the broker right on the website. In fact, the broker has provided you with a breakdown of different periods during which you can make different profit percentages. There are four savings accounts for you to choose from. The first one is the standard one that requires the smallest amount of investment from you. You can open this account with only $10,000. You can then go for the Silver, Gold, VIP, and PRO accounts if you want.
If you look at the maximum commissions discount for each account, you can get a discount of 25% on the Silver account. The discount on Silver, Gold, VIP, and PRO accounts would be 35% , 50% and 75% respectively. With the most basic account, which the broker has named Standard account, you will not get any commissions discount. But keep in mind that you are getting this discount for just depositing the money in your account and doing nothing else.
Amazing Trading Accounts
The trading accounts from this broker are some of the best because of the features they offer and the amount of less resistance they cause. If you want to be a part of the online trading world, you wouldn’t find any better option than this. So, if you look at the Standard account from the broker, the amount you need to activate this account is only $10,000. With this small amount, you will have an account manager at your disposal that will help you with your account related matters. Not to mention your access to all the training material that is available in the education center. The best thing is the welcome bonus of 20% that you will get for this small initial deposit in your account.
If you want a bigger bonus and some more features, you can go with the Gold account. Here, a deposit of $100,000 will give you access to a bonus of 25%. You will get trading alerts in addition to all the features that you enjoy with the basic account. Take things up a notch with the VIP account, which is available for you to grab if you deposit only $250,000 in your account. The most prominent addition of feature to this account is your ability to partake in online webinars. These webinars are going to teach you a lot about trading and help you clarify a lot of confusion that you might have in your mind about trading different assets.
The other account that you can pick is the PRO account. Trading alerts, webinars, one-on-one trading sessions, professional account managers, absence of any withdrawal fees, etc. are some of the features that you will get when you sign up with any of these accounts. Despite the fact that the broker has six different account types and that the VIP one is the most expensive account, you still have to deposit only $1,000,000 to activate this account.
Many CFD Types
MarketSpots gives you access to contracts for difference, which are also known as CFDs. This means you don’t own the asset but you trade the value of that asset through a contract. Now, due to the nature of this type of trading, you can trade a variety of assets from the same trading platform without any issues. With MarketSpots, you will be in a variety of markets as soon as you sign up with the broker. You will get access to commodities, stocks, indices, forex currency pairs, and many other markets when you sign up with MarketSpots. No, there is nothing special that needs to be done to get access to those markets when you sign up with these brokers.
Yes, it is true that there are many other brokers that can offer you the same assets. However, if you are looking for even the most minor currency pairs in the forex markets, I don’t think you will find a better option than MarketSpots. It also offers you commodities of many different types so you can trade soft commodities, oil, gas, and precious metals. You can trade stocks from the best companies of the world separately or go with bucketed assets through indices trading. Bonds allow you to trade government backed bonds from many different countries. Last but not least, you can also trade ETFs, which is something I don’t usually see many other brokers offering you at all.
Customer Care
Okay, I have to admit here that the customer support from this broker was something I was really skeptical about. When I searched a contact number on the website, I could not find one. This was really disappointing for me since I could not have talked to a human in time of need. There is an email address on the website that you can use to get in touch with the broker. In addition, you have many FAQs on the website helping you with your most common queries. But did that mean I could never talk to a human representative from the company? Well, I was quite wrong there.
The broker has a call-back option on the website. You can use this option to let the broker call you on your phone to help you with your issue. Isn’t that great? You getting a callback from the company to help you with your issues?
Final Thoughts
So, you can see that there is some great reason behind the fact that I think this broker is the leading one out there in the world of online brokers. MarketSpots, it seems to me, really understand the challenges that traders face when they enter the online trading world, and I appreciate that understanding from the broker. I think you should not make your decision straight away. I urge you to try out the broker and its features by signing up with its basic account. Better yet, you can compare the information that I have provided you about the broker with the features of other brokers. You are then free to choose the broker that you think better serves your needs as a trader.
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