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Switch Markets Review & Rating [yyyy]

Switch Markets Review & Rating 2022

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Read this switchmarkets.com review before opening your trading account with this forex company. Is this a Scam or Reliable Forex Broker? Find out more with AtoZ Markets Forex broker review of switchmarkets.com.

We have contacted a thorough and detailed review of this company and concluded that it is a legit broker and highly recommendable to new and advanced forex traders Worldwide. This broker is famous for its 0.0 spread account types and its unmatchable trading conditions. Therefore, they provide opportunities for traders in a variety of markets and products.

Having said the above, we go through each and every little detail in a broker’s business history, biography, and reputation. The very same standards apply in the case for our Switch Markets review.

Overview

Company
9/10
Trust
9/10
Trading Platform
9/10
Account Types
9/10
Costs
9/10
Customer Support
9/10
Regulation
9/10
Cryptocurrency
9/10

Company

9 /10

Switch Markets is an ASIC and SVG regulated broker. Since 2019, Switch Markets has been operating in the forex industry offering clients some amazing trading conditions to trade and invest in with 180+ tradable instruments like: forex, metals, indices, CFDs shares, digital currencies, and more with account types starting as low as 0.0 spread.

Switch Markets is not your average broker, it offers leading trading education via various educational videos, free proprietary trading tools, market analysis and boasts “world-class support”. An ideal broker for beginner or advanced traders.

There are many benefits to trading at Switch Markets including: multiple financial instruments via the MT4 trading platform with a minimum deposit of $50.  They provide traders with competitive trading conditions, such as various account types, low spreads from 0.0, leverage of up to 1:500, zero commissions and more.

Trust

9 /10

Switch Markets has gone above and beyond to make sure they provide complete transparency to establish trust with its clients.

Switch Markets International PTE Ltd (202040285G) is an authorised representative of Royal ETP LLC who is licensed and regulated by ASIC (Australian Securities & Investments Commission) which requires the broker to maintain strict internal risk management and staff training procedures.

On top of that, all clients’ funds are held in segregated bank accounts with tier one banks. Switch Markets has focused on security and safety so that their clients will not worry about their funds and enjoy their trading experience.

Trading Platform

9 /10

Switch Market clients can place their trades using one of the industry’s most advanced trading platforms - MT4 which is a popular online trading platform developed by MetaQuotes in 2005. Although it is most commonly associated with Forex trading, MT4 can also be used to trade a range of markets including indices, cryptocurrencies, stocks, and commodities, via CFDs or spread betting.

The platform is packed with advanced trading tools, including technical analysis tools, expert advisors, and much more. The MT4 platform is the best option for anyone who appreciates a reliable, well known and convenient trading platform.

The MT4 trading platform is available as a desktop application for Windows and Mac computers, WebTrader, and a mobile app that is compatible with Android and iOS devices and can be downloaded with a click of a button from the respective app stores.

Account Types

9 /10

Switch Markets provides accounts for beginners to expert traders with a choice of two live trading account types depending on the type of trader you are.

Both live accounts require a minimum deposit of $50, so clients can choose the account types that match their trading type and style . For example, while some traders prefer the Standard account with 0 commission and raw spreads, others might prefer the Pro account with 0.0 spread and a commission of $7 per side no matter market conditions.

They also offer a free demo trading account which allows newcomers to familiarise themselves with the platform and Switch Markets trading conditions and services using virtual money (up to $50,000).

An extra account offered is the Islamic account where traders seeking an interest-free account that’s aligned to the principles of Islamic Sharia law can open an Islamic-friendly account.

Cryptocurrency

9 /10

Switch Markets is stepping up their game by providing a CFD account to trade cryptocurrencies with super fast execution, leverage up to 1:3, friendly expert support available 24/5 via live chat and most importantly absolutely no hidden fees.

Moreover, it is possible to trade six of the leading cryptocurrencies including Bitcoin, Bitcoin Cash, Litecoin, Ripple, Dash and Ethereum.

Costs

9 /10

The minimum deposit required to open a live trading account with Switch Market is as low as $50 with a variety of trading account options to choose from.

Costs and commissions solely depend on the type of trading account you choose to open.

Standard Accounts offer spreads as low as 1.4 pips with absolutely no commission. The average spread on EUR/USD for Standard Account is 1.5 pips.

Meanwhile, the Pro Account spreads start as low as 0.0 pips with the average spread for EUR/USD being 0.1 pips and a commission of $7 per lot.

They offer complete transparency to their spreads and commissions which allows the client to select a trading account with no hidden costs.

Switch Markets allows traders to deposit and withdraw funds to and from their trading accounts using any of the following payment methods:

  • Bank transfer
  • Digital Currencies
  • Credit/debit cards
  • Neteller
  • Skrill
  • FasaPay
  • Globe Pay
  • Paytrust88
  • UnionPay
  • Interac
  • PerfectMoney
  • NganLuong.vn

Customer Support

9 /10

Switch Markets offers exceptional customer service with polite, friendly and helpful support staff available by phone, e-mail, and live chat 24/5.

Customer support is of high importance for Switch Markets therefore clients should have no issues contacting support staff and receiving help in a timely manner.

Regulation

9 /10

Switch Markets is regulated by leading regulatory bodies globally. Switch Markets International PTE Ltd (202040285G) is an authorised representative of Royal ETP LLC who is licensed and regulated by ASIC (Australian Securities & Investments Commission) which requires the broker to maintain strict internal risk management and staff training procedures.

Keep in mind that due to their regulations it is not possible to trade if you reside in U.S.A, Japan, Iran, and North Korea, nor any other countries where the offer of their products are prohibited or restricted by laws.

Conclusion

Switch Markets is a multi-asset brokerage firm that allows clients to trade multiple financial instruments via the MT4 trading platform with a minimum deposit of $50.

They provide traders with unmatchable trading conditions, such as various account types, low spreads from 0.0, leverage of up to 1:500, zero commissions and more.

There are various learning and trading tools to assist traders and they provide forex traders with all of the tools and educational material that they might need to implement effective forex trading strategies.

What makes them stand out is the fact that they pay attention to their clients' needs and wish to offer all the right tools for a trading experience that can not be matched. They provide exceptional educational resources by partnering up with HowToTrade (worth $567), 100% credit bonus and free VPS (worth $497) which makes them the ideal broker for high-frequency or algo traders.

These factors, in addition to Switch Markets’ trustworthiness, professionalism, transparency and extensive trade offerings make this forex trading broker the best option for beginner, intermediate, and advanced traders - highly recommended broker - Try them out!

Reviewed By

Financial Market Analyst
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