There are many scam forex brokers, and this company is a prime example. You didn’t just stumble upon this MarketsCo review by chance, because here you will find not only the answer regarding the reliability of the platform, but also why this is the case. Make yourself comfortable, as I will next examine the trading conditions, official website, and facts of the organization’s activities to provide real evidence of illegal activity.
- MarketsCo General Information
- Is MarketsCo Broker a Safe Option for Traders?
- How Transparent is MarketsCo Broker Regarding Regulations?
- Trading Conditions Breakdown: What to Expect?
- Platform Performance
- Does MarketsCo Provide Educational Tools for Traders?
- Hidden Fees and Charges: What Traders Need to Know?
- User Feedback: Insights from Existing Clients
- How Responsive Is MarketsCo Broker’s Customer Support Team in Resolving Issues?
- Pros and Cons
- Frequently Asked Questions (FAQ)
MarketsCo General Information
| Website | https://marketsco.com/ |
| Phone Number | +442071012389 |
| support@marketsco.email | |
| Address | Saint Vincent and the Grenadines |
| License | — |
| Minimum Deposit | $250 |
| Assets | Currency pairs, commodities, indices, stocks, cryptocurrency |
| Leverage | — |
| Trading Platform | WebTrader |
Is MarketsCo Broker a Safe Option for Traders?
Based on the official website, it is a typical serial brokerage project created by scammers. The template site barely discloses important terms and key information about the platform’s activities, such as duration of operation and legal address. The organization looks highly suspicious, so it needs to be thoroughly checked.
How Transparent is MarketsCo Broker Regarding Regulations?
The firm reveals little about itself. A superficial review of marketsco.com reveals that the platform has 50,000 clients trading monthly, but it is hard to believe, as there are not nearly enough comments or mentions online. Additionally, the legal address is not provided, although any transparent and verified company would certainly show where its office is located and where it is officially registered.
The jurisdiction under which the broker operates can be discerned from the user agreement document. It mentions the offshore jurisdiction of Saint Vincent and the Grenadines, which is a serious red flag by itself. Notably, such an organization was not found by me in the SVGFSA legal registry.
It suggests that it is unknown where the company is registered, and it is very likely that it does not have a registration at all. It simply does not exist. From this, it also follows logically that a license cannot be obtained, and thus the broker’s activities are illegal.
Also, according to the phone number in the “contact” section, the firm has an office in the United Kingdom. However, there is no record in the Companies House registry, which means that such a firm does not exist there.
Thus, there is no regulation, the legal address is not provided, and nothing was found in the potential country where the firm might be registered. Moreover, the company clearly lies, telling tales about 50,000 traders.
Could it be that the brokerage intermediary has a long term of operation during which it managed to earn a reputation as a safe company? No such information is available on the site, but the domain was registered in 2016 and was on sale until 2024. Only recently in 2024, scammers purchased it, and now we can see a brokerage service offering on it.
The number of red flags is simply off the charts. To all the negative factors already found, a very short period of operation is added. It is confirmed by the recent reviews of MarketsCo on the internet, which also only began to appear in 2024.
Trading Conditions Breakdown: What to Expect?
The MarketsCo review continues, and it is necessary to examine how beneficial it is to trade here. Trading conditions play an important role, and they can also provide interesting conclusions. The first thing that definitely should be noted is the division of tariff plans into five packages and an additional VIP status. The company discloses almost no information regarding the contents of these tariff plans, except for the requirements for the minimum deposit:
- Basic. The minimum deposit is $250.
- Advanced. A minimum deposit of $10,000 is required.
- Pro. From $50,000.
- Elite. The minimum deposit is $100,000.
- VIP. From $250,000 and more.
The firm suggests that traders risk a significant amount of capital. The $250 seems quite substantial, especially for beginners. At the same time, there is no way to test the platform with smaller amounts or virtual dollars, as there is no demo account type or cent tariff available. Thus, a major downside of the platform is the high minimum deposit, meaning clients risk more.
Another significant drawback is the broker’s total secrecy. What are the spreads? What are the commissions? What is the leverage? These conditions remain shrouded in mystery, but why? This key information is essential to determine whether it is profitable to trade here or not. Commissions are unknown, so risking real money to suddenly discover that there are high fees and huge spreads is quite foolish.
Does it make sense to invest a minimum of $250 if a trader doesn’t even know what conditions await them? Scammers intentionally hide important parameters so that people invest money for testing, and then the trap snaps shut.
Platform Performance
Another weak point of the company is its trading platform. It is merely a parody of a terminal that is definitely not suitable for normal and serious trading. It does not come close to the modern and popular software used by millions of traders.
Unfortunately, creating an account is not possible without going through customer support, so testing the features or even viewing the platform is not feasible. However, on the website under the “Platform” tab, one can still see what the terminal looks like and what it entails.
Essentially, the broker offers trading on a primitive platform that lacks versions for PCs and smartphones. It is only available as a WebTrader, including mobile browsers. Its functionality is limited in all respects. Clients have access to 9 timeframes, basic tools for technical and graphical analysis, fundamental indicators, and pending orders.
Does MarketsCo Provide Educational Tools for Traders?
In the “FAQ” section on the official website, the company promises to provide clients with educational resources: webinars, articles, and video tutorials. However, whether this is true or not is unknown.
The website also offers educational materials on cryptocurrencies and blockchain, which can be easily found on Google. Additionally, e-books, a glossary, and an asset index are available. It seems that the firm cares about its clients by offering them some educational resources, but all of this can be easily found on the internet, and of a better quality than what is provided here.
At the same time, fresh analytics, which would include discussions on popular financial instruments, their technical analysis, or financial news and events, are missing. Such resources could be very useful.
Hidden Fees and Charges: What Traders Need to Know?
In this MarketsCo review, I have already pointed out that commissions for trading operations are not specified. Moreover, spreads are also hidden, so this aspect remains a mystery that cannot be solved without trading or contacting the firm’s managers.
However, clients should understand what other fees might await them on the platform so they can plan their deposit size, profits, and losses. The firm does not fully disclose fees for money transfers. It is mentioned that in most cases, no commission is charged for deposits, but nothing is said about withdrawals. The organization refers to a non-existent withdrawal policy document.
Thus, traders may find themselves in a situation where they are paying high commissions for trading operations, as well as for withdrawing funds, although it is unlikely that withdrawal is actually available here.
User Feedback: Insights from Existing Clients
MarketsCo reviews are also important to study because users share useful information about the company. However, there are not many comments online, mainly people complaining about problems with withdrawing money and terrible trading conditions.
How Responsive Is MarketsCo Broker’s Customer Support Team in Resolving Issues?
Registering an account without interacting with managers is not possible, as after submitting an application to create a personal account, the system informs that representatives will soon contact the user. However, I suspect this is a lie, as it is unlikely that anyone will actually contact the client.
Two email addresses and a phone number are also provided, but it probably makes no sense to try to contact the scammers; they are unlikely to respond. Incidentally, checking the provided contact details revealed nothing.
Pros and Cons
- Important facts about the activity are unknown.
- The broker has not received a license.
- Commissions, spreads and other conditions are not specified.
- Few reviews on the Internet from real clients.
- The company started servicing in 2024.
- The management did not disclose their names.
Now you definitely know why this is a fraudulent company. The MarketsCo review was created to help you avoid falling into the hands of scammers. There are no guarantees of reliability here, and the number of negative factors is overwhelming.
Frequently Asked Questions (FAQ)
The firm provides brokerage services. Clients can open an account, fund a deposit, and begin trading stocks, metals, indices, commodities, cryptocurrencies, and forex.
You need to have $250 to open the first tariff plan. It should be added that this information is taken from the official website, not our advice.
The broker has not obtained a license, although it should have; furthermore, the legal address is not indicated, and checking the registries of the jurisdictions where it might be registered revealed nothing. Therefore, the platform cannot be called safe. It is a risky place where it is easy to lose money.
Be careful, because they're scammers
Hello. Thank you for the MarketsCo review and I also want to warn all traders about the danger coming from this fraudulent company. You will be able to easily fund your deposit, but it will be a one-way street for it, because withdrawing funds will be impossible. Do you want to guarantee losing your deposit? I think not.
The template site is striking. Personally, I have encountered such fake brokerage sites more than once, and it has always been a fake platform created by anonymous scammers. Even their trading conditions and legal documents are copied, with legal documents not in text format but as an image uploaded on the site. A clear fraud.