Is Switch Markets trustworthy ?

Switch Markets, a trading name of Switch Markets International PTE Ltd is a relatively new retail trading broker established in Australia in 2019 that gives you easy market access to buy and sell various financial instruments. You can trade online via the intuitive MT4 trading platform, which is available for desktop, web, and mobile devices. I like how the broker has various trading account options for all trading strategies. There is a small minimum deposit of just $50 and convenient account funding methods with no fees.

Market Instruments

Switch Markets have a great range of financial markets right at your fingertips. Choose from more than 180+ tradable instruments available with Switch Markets at just the click of a button. The broker offers the following assets: forex, metals, indices, CFD shares, cryptocurrencies, and more.

• Forex–Over 60 currency pairs, including a range of majors, minors and exotics

• Indices–21 indices, including the FTSE 100, Nasdaq 100 and Nikkei 225

• CFD Share–Over 80 CFD shares, including popular stocks like Twitter, Facebook and Amazon

• Commodities–8 commodity CFDs, including gold, silver and energies like crude oil and natural gas

• Cryptocurrency CFDs–Four cryptocurrency CFDs: Bitcoin, Litecoin, Ethereum and Ripple

Account Types

Switch Markets offers a choice of trading account types, including Standard and Pro accounts. Both accounts require a minimum deposit of $50, so clients are at liberty to choose the account types that suit them. There are accounts suitable for Day traders, trend followers, scalpers, EA traders, and High-frequency and Discretionary traders. No matter your trading type and style, they have got you covered!

Leverage

The leverage offered varies depending on the market. Customers can trade forex with leverage up to 1:500. Indices are offered up to 1:200, commodities up to 1:50, and share CFDs up to 1:20. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

Spreads and commissions with Switch Markets are scaled with the accounts offered. For example, the Standard account has spread from 1.4 pips with no commission, while the Pro account holders can enjoy spreads as low as 0.0 pips but have to pay an unspecified low commission.

Trading Platform

With Switch Markets you have the opportunity to trade on the award-winning MetaTrader4 platform. Traders can use the industry-renowned MetaTrader4 (MT4) platform which is available as both a browser-based WebTrader and a desktop application that can be downloaded to Windows or Mac. Since being released in 2005, MT4 has become one of the most popular platforms among traders and brokers.

Despite being slightly dated from a UX perspective, the platform is still easy to use and navigate. Opening and closing trades is simple and intuitive, and on top of this, it is packed with additional features to improve the overall trading experience. There is a range of technical tools and charts to assist with market analysis. Plus, you have the option of setting up price alerts to notify you when assets hit a value of your choosing.

Deposit & Withdrawal

Switch Markets allows traders to deposit and withdraw funds to and from their trading accounts using a generous selection of payment methods. You can choose from any of the following funding methods: Visa, MasterCard, Bank Wire, Digital Currencies, Neteller, Skrill, Fasapay, NganLuong.vn, Globepay, Perfect Money, PayTrust, UnionPay and Interac.

Customer Support

The broker provides you with access to a multilingual client support team, who are polite and prompt in response. You can contact the Switch Markets support team 24/5 via email or by chatting with them on their 24/5 live chat accessible from the brokers' website. You can also fill in the online contact form so that their customer service will respond to you. Email: support@switchmarkets.com. You can also follow this broker on social networks such as WeChat, Twitter, Facebook, and Instagram.

WikiFX gives you the most recent updates related to the forex market. Dont just be a trader; be an informed trader with WikiFX. You can visit our website, www. WikiFX.com, or simply download the WikiFX app.