MarketsWorld Review - Next Generation Binary Options
Video Marketsworld Review
MarketsWorld is a binary options brokerage that came into the market in 2011. Its head office is located in the Isle of Man – Great Britain. It is regulated by the Gambling Supervision Commission, which many not be an internationally recognized authority although MarketsWorld assure their customers that the GSC can confirm that they conduct business legally.
MarketsWorld’s have assured their customers that they do not need to download any standalone software for trading purposes; instead the web trader is accessible from any internet-enabled device as their preferred platform. It is simple and intuitive thus even novice traders do not have to worry about taking such a long time to know their way around. Below is a screenshot of the trading platform they offered before upgrading.
After some time, they decided to change a few things about the website and this is what they came up with. In my opinion, there wasn’t too much change apart from maybe just the platform layout and theme.
MarketsWorld have availed a trading app on iTunes that is available for free for apple devices. This is very convenient as it allows investors to trade while on the move. They have recently introduced an app for the android users available on the Google Play store. As per the stats on the Google Play store, the app has been downloaded over 50,000 times.
The platform is perhaps a bit too simplistic in my opinion. I couldn’t find any tools that I could use for technical analysis such as indicators and trend lines. All you can do is select an instrument, how soon you want it to expire, how much you’d like to stake on the trade and of course your predicted outcome (high/low). I was able to zoom in and out of the chart based on the 5, 10, 15, 30, 60 and 120 minutes timeframes. At the bottom of the page you can view both active and completed trades. That is basically a description of what you can see/ do on the platform. So they only have the high/low option and their timeframes are very few. On the demo page, most brokers have a link that you can use to deposit real money in order to start trading live but this is not the case for MarketsWorld. Because of this segregation, their signup process takes a bit longer. Additionally their basket of assets is very small.
Account Types and Asset Index
MarketsWorld allows their customers to open demo accounts and real accounts. Most people do not see the need to open a demo account to trade with ‘fake’ money but it is actually a pretty handy way to figure out how to use the platform and also practice your trading strategies. Trust me there is nothing worse than going straight into live trading using a real account then your first mistakes involve pressing the wrong buttons or selecting the options ultimately leading to loss of capital which could have easily been avoided if you first practiced on a demo account.
Their asset index is quite disappointing to say the least; it consists of less than 20 assets. This index consists mostly of major forex pairs, a few minors and exotic pairs along with one commodity which is gold.
Deposit & Withdrawals
This broker offers quite a number of deposit and withdrawal channels as shown below. Of course as per the regulator’s stipulations to avoid money laundering and other unscrupulous activities, withdrawals must be done from the same channel that deposits were done.
Deposit requests are processed within 1 business day and forwarded to your bank for processing or to your online wallet for the same. The minimum amount that an investor can deposit is $20 while the smallest investment he/she can make on a trade is $1.
Another good thing about this broker is the ease of availability. The live-chat option is easy to use and available on each page of the website. I expected to have a chat bot assigned to me but I am glad to have received quick, helpful response from an actual customer service representative. If you have a really urgent issue to address then you can call or fax them at +44 (0) 1624 679 022 and +44 (0) 1624 675622 respectively. Please note that international call rates do apply. You can also send an email to [email protected] although they have stated that you will receive a response on business days within 24 hours.
Their office address is Burleigh Manor, Peel Road, Douglas, Isle of Man IM1 5EP. Great Britain in case you would like to physically meet with customer service representative.
MarketsWorld is not a scam. Something that stands out about MarketsWorld is how much effort they have put into protection of their customers and their customers’ funds. The operating license that was granted to them by the Isle of Man Gaming Supervision Committee stipulates that they must operate within a specified code of conduct which requires them to segregate company funds from client funds as well as maintain a certain level of liquidity in the form of cash reserves. This prevents issues that arise when the broker receives too many withdrawal requests from investors at the same time.
They assure investors that their website and trading servers are highly secured plus they do not store credit card details of the customer; which reduces the chances of third party interference through phishing and identity theft. MarketsWorld have also provides a guideline to be followed in the event that a customer wants to file a complaint. This can be done through the industry regulator (Isle of Man GSC ) which means that the decisions reached will be unbiased because the regulator is non-partisan.
Pros & Cons MarketsWorld
- MarketsWorld have a wide selection of assets for trading binary options
- Extremely low minimum deposit of just $10
- HIgh payouts that reach as high as 90%
- Does not fall under any strong regulatory authority’s purview
Conclusion about MarketsWorld
MarketsWorld is a relatively new entrant into the binary options market and they have really grown in leaps and bounds. They have been making continuous efforts to improve their customer journey and experience. We have seen them change their web platform a number of times to incorporate advancements in the binary options industry. They also offer lots of welcome bonuses on deposits, referrals and rewards for existing customers but they are not tied to the customer’s deposits. The fact that they are also regulated and are under the oversight of the government is a big plus as this instils confidence in investors such that they know for sure that their rights protected. Overall MarketsWorld is a good broker but still has a long way to go if they are to catch up with the industry standards.