Switch Markets Review
Located in Australia, Switch Markets is an online retail broker that allows traders to buy and sell various financial, such as forex, metals, indices, CFD shares, digital currencies, and more. They provide traders with the intuitive MT4 trading platform, which is available in desktop, web, and mobile versions. They offer various live trading account options with a minimum deposit of $50
Switch Markets Review, Pros & Cons
- Versatile MetaTrader 4 platforms
- Educational resources & trading tools
- Multiple financial markets
- Various deposit/withdrawal methods
- No USA clients
- Minimum $50 deposit
- No MetaTrader 5 platform
In this detailed Switch Markets review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Switch Markets Overview
Since 2019 Switch Markets has grown steadily into one of the fastest evolving brokers and is now trusted by clients worldwide. Today, the broker comprises a successful team of around 100 members, scattered around 21 countries across the globe. Their clients are provided with the popular MT4 trading platform to ensure seamless access to multiple financial markets. In addition, there is a plethora of learning materials and helpful trading tools on their website. Other essential features of the broker include low spreads, multiple payment methods, leverage of up to 1:500, and more.
Switch Markets Regulation
The Australian arm of Switch Markets is regulated by the Australian Securities and Exchange Commission (ASIC). On the other hand, Switch Markets International PTE Ltd (202040285G) is an authorized representative of Royal ETP LLC.
Switch Markets Countries
Switch Markets does not provide trading services to anyone residing in the U.S.A, Japan, Iran, and North Korea, nor any other countries where the offer of their products are prohibited or restricted by laws.
Some Switch Markets features and products mentioned within this Switch Markets review may not be available to traders from certain countries because of legal restrictions.
Switch Markets Platforms
The broker’s clients can place their trades using one of the industry’s most advanced trading platforms: the MT4. It is a popular trading platform that was launched in 2005 by the Russian software company, MetaQuotes. The platform is packed with advanced trading tools, including technical analysis tools, expert advisors, and more. The MT4 platform is an ideal choice for anyone who appreciates an innovative 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 from the respective app stores.
Switch Markets Trading Tools
Traders are provided with a selection of useful standalone trading tools to help them get the most out of their trades. These tools include the lot size calculator, currency strength meter, forex profit calculator, and an economic calendar that shows the schedule of future market events and their expected impacts on the financial markets.
Switch Markets Education
Switch Markets provides traders with a good selection of educational resources — seminars, webinars, trading guides, and more — to help them make knowledgeable trading decisions.
Switch Markets Instruments
The broker offers the following assets: forex, metals, indices, CFDs shares, digital currencies, and more.
Switch Markets Accounts & Fees
Switch Markets offers a choice of two live 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. For example, while some traders prefer the Standard account with no commission and competitive spreads, others feel the Pro account with razor-sharp spreads as low as 0.0 and a commission of $3.5 per side is a better option. In addition, a demo account is available for practice purposes.
As broker fees can vary and change, there may be additional fees that are not listed in this Switch Markets review. It is imperative to ensure that you check and understand all of the latest information before you open a Switch Markets broker account for online trading.
Switch Markets Support
The broker provides traders with a client support team, who are polite and prompt in response. The support team can be reached via telephone, email, and Live Chat.
Switch Markets Deposit & Withdrawal
The broker allows traders to deposit and withdraw funds to and from their trading accounts using any of the following payment methods: bank transfer, credit/debit cards, and some online payment gateways, such as Neteller, Skrill, FasaPay, PerfectMoney, and more.
Switch Markets Account Opening
To open an account, click on the ‘Create Live Account’ button on the homepage of the broker’s website and provide all the requested details.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Switch Markets Summary
Switch Markets is a multi-asset brokerage firm that allows clients to trade multiple financial instruments via the MT4 trading platform. They provide traders with competitive trading conditions, such as various account types, low spreads, leverage of up to 1:500, zero commissions, and more. A client support team is on hand to aid traders. There are various learning and trading tools to assist traders. The minimum deposit required to start trading is $50.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.