- Instrument Variety
- Leverage: (1:200 / 1:100)
- Scalping: Allowed
- Spreads: 3 pips
- Regulation: CySEC
- History: Clean
A very average, clean, broker, owned by SafeCap Investments. Very similar to Markets.com, and Finexo, owned by the same companies. In short, very trustworthy, relatively wide spreads, not the highest leverage, and a fair selection of instruments. An OK choice, but there are better ones.
- About the company: ECMarkets is one of the trading names of SafeCap Investments Ltd. a Cypriot company who run a number of Foreign exchange brokerages including the well known Markets.com brand.
- Founded: SafeCap Investments was founded in 2008, but the ECMarkets brand was launched at a later date.
- Payment Options: Credit/Debit Cards, WebMoney and Wire Transfer.
- Platforms: MetaTrader 4, ECMarkets WebTrader and MobileTrader.
- Accounts: Available in EUR, GBP, JPY, PLN and USD.
- Minimum Deposit: $100.
- Regulation: SafeCap Investments Ltd. is regulated in Cyprus by CySEC.
- Social Trading: N/A
- Support Options: Email, LiveChat and Phone.
ECMarkets offers the ever popular MetaTrader 4 software to it’s clients. Many traders will already be familiar with the software which is by far the most popular retail Forex trading software. The ECMarkets MetaTrader platform operates just as one would expect it to and allows traders to use Expert Advisors to automate their financial trading. Aside from the MetaTrader 4 platform, ECMarkets.com offer their own web based trading platform which while not as powerful as MetaTrader 4 does allow traders to trade the financial markets from any computer in the world. Those who want to trade on the move also have the option to use the ECMarkets Mobile platform which should work on the majority of Smartphones. The Mobile platform is perfectly functional if you simply want to open and close trades while out and about. Unfortunately unlike sister site Markets.com, ECMarkets doesn’t offer any social trading platforms to it’s user base which is a bit of a shame.
- Leverage: Up to 200:1 leverage on currency pairings and up 100:1 leverage on CFD’s.
- Scalping: Allowed.
- Expert Advisors: Allowed.
- Hedging: Allowed.
- Trailing Stops: Yes.
- Spreads: Fixed, 3 pips on EUR/USD.
ECMarkets offer decent leverage on Forex and CFD’s allowing you to take advantage of some of the benefits of leveraged trading. While other brokerages do offer significantly more leverage, 200:1 leverage is going to be more than enough for the vast majority of traders. In general the trading conditions with ECMarkets are pretty good, the only thing traders are going to be slightly annoyed at is the wide fixed spreads offered by ECMarkets. 3 pips on the EUR/USD isn’t particularly competitive and your going to be able find a number of brokerages who will offer tighter fixed spreads for the major currency pairings. Apart from my slight misgivings about the spreads on offer, trading conditions at ECMarkets are pretty decent.
- Number of Currency Pairings: 51 (including a number of exotic pairings).
- Other Instruments: Commodities, Stocks, Indices and Bonds.
ECMarkets offer an impressive range of currency pairings for its customers to trade and the average Foreign exchange trader will be able to trade every currency pairing he wants to on the platform. That being said ECMarkets do offer a slightly smaller range of currency pairings than some other brokerages, but the few missing pairings are very infrequently traded. A clear advantage of the ECMarkets offering is the fact that the brokerage offers a number of other instruments for its customers to trade. There are an impressive range of Commodities, Stocks, Indices and Bonds, all of which can be easily traded using the ECMarkets platform. This will be of considerable interest to those who want to trade more than just Foreign exchange. While the range of Stocks isn’t totally comprehensive their is a wide selection of different Stocks which are definitely worth trading.
- Contact Methods: Phone, Email and Live Chat.
- Telephone Numbers: A selection of European mainland numbers.
- Support Languages: English, French, Spanish, Arabic, Italian, Turkish, Romanian, Russian and German
Customer support at ECMarkets is generally pretty decent and I haven’t heard any complaints regarding the level of service provided by the brokerage. Traders can get into contact with brokerage easily through either Phone, Email or Live chat. It doesn’t take long to get put onto a live chat operative who will be able to try and resolve any problems you have with the service. Support is available in a number of Foreign languages, which will be ideal for people who don’t speak English as a first language. Overall I don’t have any concerns regarding the quality of customer service at ECMarkets.
- Regulated: By CySEC of Cyprus.
- MiFID Regulated: Yes, as Cyprus is a member of the European Union ECMarkets can operate in all EU jurisdictions.
- US Traders: No, ECMarkets cannot accept US traders.
- Regulatory Record: Spotless.
SafeCap Investments Ltd. operates a number of different foreign exchange and binary option brokerages, but has never been on the receiving end of any disciplinary action from CySEC. This should always be seen as a positive and suggests the SafeCap Investments Ltd. are fully complying with Cypriot financial regulation. Being regulated in Cyprus allows ECMarkets to take on clients from throughout the European Union and ensures that clients receive a minimum level of protection as set out in MiFID. I don’t believe that traders have anything to worry about when it comes to regulation, though it should be noted that ECMarkets cannot accept US customers.
ECMarkets is a professional and well regulated brokerage. The major drawback to the brokerage is the relatively poor fixed spreads offered on major currency pairings, which means that many traders would be better served by seeking out other alternatives. Apart from this ECMarkets offers a high quality service and trading experience, those interested in the brokerage should do further research to determine whether ECMarkets might be a good choice for them.
What did you think of our ECMarkets review? If you have had any experiences with the brokerage please feel free to share in the comments.