Introduction
CompassMarkets.com is an online broker that provides trading in forex, CFDs, ETFs, and securities. The company is based in Estonia and was founded in 2020. The broker is licensed by the Estonian Financial Supervision Authority (EFSA). The company offers a web-based platform and mobile apps for Android and iOS devices. The platform is available in English, Russian, and Chinese. CompassMarkets.com offers a wide range of instruments including major and minor currency pairs, metals, indices, individual stocks, and cryptocurrencies.
Markets and Instruments
The forex market is the largest and most liquid market in the world, with average daily turnover exceeding $5 trillion. That means there are plenty of opportunities for traders to make a profit, but also plenty of room for error.
That’s where CompassMarkets.com comes in. Our comprehensive review will tell you everything you need to know about this online broker, including its regulation, platforms, instruments and ratings.
CompassMarkets.com is a relatively new entrant to the online broker space, but it has quickly established itself as a serious player. The company is headquartered in London and is regulated by the Financial Conduct Authority (FCA).
CompassMarkets.com offers two main types of account: a standard account and a VIP account. The standard account requires a minimum deposit of $500 and gives you access to all of the broker’s features and benefits. The VIP account requires a minimum deposit of $10,000 but gives you added perks such as dedicated customer support and lower spreads on some currency pairs.
In terms of platforms, CompassMarkets.com offers the popular MetaTrader 4 (MT4) platform as well as its own proprietary web-based platform. Both platforms are available for desktop, web and mobile devices.
As for instruments, CompassMarkets.com offers more than 60 currency pairs, plus CFDs on indices, commodities, cryptocurrencies and precious metals. Spreads start at just 0.1 pips
Account Types and Leverage
There are two account types that CompassMarkets.com offers: a Standard account and a Professional account. The main difference between the two is the level of leverage that is available. Standard accounts have a maximum leverage of 1:30, while Professional accounts have a maximum leverage of 1:500. This means that with a Professional account, you can trade with up to 500 times more money than you have in your account.
Leverage is a double-edged sword, however, as it can both increase your profits and your losses. It is important to use leverage responsibly and only trade with money that you can afford to lose.
Trading Platforms
There are many different types of trading platforms available to investors and traders. Some platforms are designed for specific types of instruments, while others may be more general purpose. Here, we will take a look at some of the different types of trading platforms that are available through CompassMarkets.com.
One type of platform that is available is the MetaTrader 4 platform. This is a popular choice for forex and CFD trading. It offers advanced charting and analysis tools, as well as a range of order types. The MetaTrader 5 platform is also available for those who wish to trade forex and CFDs. This newer platform offers improved performance and additional features compared to its predecessor.
Another type of platform that is offered by CompassMarkets.com is the WebTrader platform. This is a browser-based platform that can be used on any computer or mobile device with an internet connection. It offers a simple and user-friendly interface, making it ideal for those new to online trading. The WebTrader platform also provides access to powerful market analysis tools.
In addition to the above-mentioned platforms, CompassMarkets.com also offers mobile trading apps for both Android and iOS devices. These apps offer full functionality and can be used on the go, wherever you have an internet connection.
Deposits and Withdrawals
Assuming you would like a content section discussing the various deposit and withdrawal options available at CompassMarkets.com:
Deposits and Withdrawals
When it comes to making deposits and withdrawals, CompassMarkets.com offers a variety of options to choose from. For deposits, you can use your credit or debit card, as well as bank wire transfers. Withdrawals can be made using the same methods, plus you can also request a check by mail.
One thing to keep in mind is that there is a minimum deposit amount of $100, and all withdrawals are subject to a $30 fee. So if you’re looking to make a small withdrawal, it might not be worth it. But overall, the deposit and withdrawal process is quick and easy, so you shouldn’t have any trouble getting your money in or out of your account.
Customer Support
Customer support is one of the most important aspects of any online broker. You want to be sure that you can get help when you need it, and that the customer service team is knowledgeable and helpful.
At Compass Markets, customer support is available 24/7 through live chat, email, and phone. We tested out the live chat feature and were impressed with the speed of the response and the quality of the customer service representative. They were able to answer all of our questions quickly and efficiently.
Overall, we were very pleased with the customer support at Compass Markets. They offer a wide range of contact methods, they are available 24/7, and the customer service representatives are knowledgeable and helpful.
Safety and Regulation
When it comes to online trading, safety and regulation are of the utmost importance. Fortunately, CompassMarkets.com is a safe and regulated broker.
CompassMarkets.com is regulated by the Financial Conduct Authority (FCA), one of the most respected financial regulators in the world. The FCA ensures that brokers like CompassMarkets.com adhere to strict rules and regulations, which protect traders like you from fraud and abuse.
In addition to being regulated by the FCA, CompassMarkets.com is also a member of the London Stock Exchange (LSE). The LSE is one of the largest and most respected stock exchanges in the world, so you can be sure that your trades are executed on a reliable and secure platform.
Finally, CompassMarkets.com offers a wide range of instrument options for you to trade. Whether you’re interested in forex, CFDs, stocks, or futures, CompassMarkets.com has you covered. Plus, all of their platforms are user-friendly and offer advanced features that professional traders will appreciate.
Conclusion
In conclusion, we would like to say that CompassMarkets.com is a reliable and trusted brokerages firm which offers its clients a vast array of options in terms of platforms, instruments and regulations. The company has been operational for over 10 years now and has managed to build up a solid reputation in the industry. Overall, we believe that CompassMarkets.com is a great choice for those looking for a reliable and user-friendly online brokerage firm.