Evolve Markets Review 2020
Evolve Markets is a Crypto based online brokerage that offers Forex and CFD trading via the popular MetaTrader 4 and MetaTrader 5 trading platforms for web, desktop and mobile devices. They are an unregulated broker with no educational materials or additional trading tools. For this reason, we would consider an alternative trading broker that gives traders more protection when trading online.
Evolve Markets Review 2020, Pros & Cons
- MetaTrader Platforms
- Crypto settlements
- Unregulated brokerage
- Limited funding options
- Limited trading instruments
- No live chat or telephone support
- No educational materials
- No standalone trading tools
In this detailed Evolve Markets review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Evolve Markets is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Evolve Markets.
Evolve Markets Review: Summary
Evolve Markets aims to offer online traders the best of both worlds. With Evolve Markets you get to access the global markets with an institutional trading infrastructure, liquidity and the freedom of Cryptocurrencies. You can deposit Bitcoin or Litecoin and trade Cryptocurrencies, Forex and other CFDs on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
Evolve Markets launched in late 2016, founded by a team of early bitcoin adopters and FX brokerage operation veterans. The brokerage takes the traditional brokerage model to the next generation with cryptocurrency for deposit and trade settlement. They consider themselves to be a traditional Forex broker although their primary business is crypto trading and liquidity development with their BTCUSD contract, their largest volume traded asset.
Evolve Markets use a Straight Through Processing (STP) execution model for Forex, commodities and index CFDs. The STP model sends all your orders directly to their liquidity providers, without any intervention of a dealing desk. The broker should only benefit from the spread difference ensuring there is no conflict of interest. Trade execution speeds should be fast due to the brokers location in the #1 financial data center in the world, combined with their extensive global infrastructure network.
Evolve Markets Review: Regulation
Evolve Markets Ltd. is incorporated in St. Vincent & the Grenadines as an International Broker Company with the registration number 23498 IBC 2016. As a registered IBC (International Business Company), they must satisfy all regulatory requirements and necessary compliances under IBC jurisdiction worldwide. They do not carry a regulatory brokerage or financial license in any jurisdiction. This allows them to offer higher leverage, a diverse array of trading instruments and cryptocurrency deposit trading accounts.
An unregulated broker does not give investors the same protection as a regulated broker would. For this reason, we would prefer to use another online brokerage that is regulated by a well-respected regulatory authority such as the FCA, ASIC, NFA, CFTC or CySEC. Lack of regulation is a big red flag from our point of view.
Evolve Markets Review: Countries
Evolve Markets does not provide services to residents of the United States or any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Some Evolve Markets broker features and products mentioned within this Evolve Markets review may not be available to traders from specific countries due to legal restrictions.
Evolve Markets Review: Trading Platforms
Evolve Markets trading instruments are accessible via MetaTrader 4 and the latest MetaTrader 5 trading terminals. You can choose between installing MetaTrader client on your desktop or mobile device, or simply use the WebTrader.
Evolve Markets offer clients the popular and powerful MetaTrader 5 (MT5) trading platform. MT5 can run on desktop or directly in most modern web browsers. There is also the MT5 trading app on iOS and Android devices for traders who wish to access their account and trade whilst on the go.
The MT5 platform features include:
- Real time quotes in market watch window with level 2 depth of market (DOM) pricing
- Fully customisable user interface
- Trading strategy templates
- Multiple chart timeframes
- Multiple order types
- Technical indicators & graphical objects for chart analysis
- Automated trading with expert advisors (EAs)
- MQL programming interface to create custom indicators, scripts & EAs
- Multi-currency strategy tester to back test EAs on historical data
MetaTrader 4 (MT4) is very similar to MT5 with slightly less features and functionality yet it still remains one of the most popular online trading platforms for traders around the globe. It is very user friendly making it a suitable platform for beginner traders whilst having enough functionality to satisfy the more seasoned investors. MT4 is also available via desktop, web and mobile (iOS & Android). You will find that most brokers offer MT4 whereas MT5 is more limited.
Evolve Markets Review: Trading Tools
Unfortunately, Evolve Markets do not offer any stand-alone trading tools so you will need to make do with the abundance of tools built into the MetaTrader platforms. These will usually be sufficient enough for most traders in any case.
Evolve Markets Review: Education
Unfortunately, Evolve Markets do not offer any educational materials to help beginner traders improve their trading skills or knowledge. This is slightly disappointing as most brokers tend to offer an educational centre to support new traders which includes tutorial videos, trading guides, webinars and more.
Evolve Markets Review: Trading Instruments
You can trade Cryptocurrency, Forex, Commodities and Indices markets online with Evolve Markets.
- 50 Forex Currency Pairs
- 9 Commodities
- 10 Indices
- 12 Cryptocurrencies
Evolve Markets Review: Trading Accounts & Fees
The broker currently offers one account type that is raw spread and commission trading for all trading pairs on MT5 and MT4. Evolve Markets offer leverage up to 1:500 on FX, 1:50 on Crypto. Accounts get STP market execution, 24 hour trading and no FIFO limits.
- MT5 Fees: Cryptos 0.075%, Forex 0.0035%, Commodities 0.0035%, Indices 0.0035%
- MT4 Fees: Cryptos 0.075%, Forex 0.0035%, Commodities 0.0035%, Indices 0.0035%
As broker fees can vary and change, there may be additional fees that are not listed in this Evolve Markets review. It is imperative to ensure that you check and understand all of the latest information before you open an Evolve Markets broker account for online trading.
Evolve Markets Review: Customer Service
The Evolve Markets support team is available by e-mail during Forex market hours from Sunday 22:00 to Friday 22:00 GMT. They aim to respond as soon as possible within 24 hours. Support is limited during Non-Forex hours, although the broker states that “since cryptocurrency never sleeps, neither do we”. There are a number of support articles on the brokers website that can get you instant answers to some commonly asked questions. Unfortunately, Evolve Markets support is currently only offered via email. We would have preferred an option to chat online with a member of the support team or be provided with a contact telephone number.
Evolve Markets Review: Deposit & Withdrawal
You can deposit cryptos for free, quickly and easily into your Evolve Markets account. You can also withdraw your crypto profits anytime, without any fees and whilst keeping your financial privacy intact. There is a minimum withdrawal of 0.005 BTC / LTC.
Evolve Markets Review: Account Opening
Opening an account with Evolve Markets is quick and easy. You just need to complete a short application form on the brokers website. Accounts are approved instantly and deposits confirmed in minutes.
Evolve Markets Review: Conclusion
For traders who like to deal in Cryptocurrencies, Evolve Markets could be a popular choice. They provide some of the benefits of a normal trading broker such as access to the MetaTrader platforms and various markets whilst using cryptos as settlement.
However, as innovative as that is, we would not choose an unregulated broker as there is less protection for investors. They also do not provide any educational resources or additional trading tools to help new traders. You may want to consider a regulated brokerage with a wider range of online trading services from our best trading brokers.
Trading leveraged products such as Crypto Assets, Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice.