Looking to trade and invest from a comprehensive platform? CFD and Forex broker MarketsCo claims to offer such an opportunity. However, trusting this company is out of the question – everything points to it hunting for clients’ money. There is more than enough evidence. We have compiled the most obvious ones in a brief review. If you don’t want to lose your investment, read on.
Visiting the company’s website leaves a depressing impression. Take a look at its main page. What do you see there? A banner with a pretentious slogan, a description of the benefits in one or two words, a couple of animated pictures. Do you think this is how a reputable regulated broker should present itself online? Somehow, we don’t think so. Perhaps the reason is:
The conclusion can only be one: the project was created by amateurs who had no idea about providing brokerage services and the interests of traders. Can you trust a company with such owners? We doubt it.
Contact Us, as presented by MarketsCo, says “Let’s Talk”. However, actually conversing with company representatives would only be possible via the phone number provided here. And even then only if they answer it. Filling out a feedback form or sending emails to the provided addresses can hardly be considered a conversation.
However, there are no other contact details on the company’s website. We couldn’t find:
Such an approach doesn’t even remotely resemble that of real brokers. We see yet another piece of evidence that it’s difficult to call this company honest and reliable.
Those eager to learn about the trading conditions offered by the broker will encounter immense disappointment. In the FAQ, the company says they can be found in the Instrument Specifications section, but they simply forgot to create it on the website. And in the table with types of accounts, potential clients will see only a general, and very brief description. None of the project owners even remembered the characteristics of the tariff plans. All their “professionalism” allowed them to do was to specify the minimum deposit sizes.
In total, the broker offers traders 4 standard tariff plans and 3 from the VIP standard tariff plans category:
Traders at MarketsCo will have to figure out the trading conditions for each of these plans on their own when opening and closing deals. Apparently, the company representatives are not at all concerned that its clients may incur significant losses in the process. However, this suits platform owners just fine, as all traders’ losses become their direct income. Isn’t there a reason to hide information? Wouldn’t you agree?
We searched long and hard, but could not find the company’s registration address or mention of a valid license on the broker’s website or in its documents. Some information we found led us to make two assumptions.
All brokers should make such significant information publicly available. Since MarketsCo has disregarded this rule, we can make a straightforward conclusion: the platform operates without official registration. This virtual company, operating solely online, lacks a license even from offshore regulators. This means that brokerage services are provided illegally, and the rights and interests of traders are not protected.
In MarketsCo reviews, users often note the domain registration date in May 2016. The company does not provide data about its history, creating the impression that the broker has been operating for almost 8 years. This impression is incorrect. Checking snapshots from the web archive shows that as early as February 2024, marketsco.com was listed for sale by the registrar GoDaddy.
It turns out the platform has been functioning for just over two months. Naturally, it is not advantageous for them to disclose historical information. Traders should take note of the short period of operation of this pseudo-company and understand that it is actively attracting a client base. Therefore, it is necessary to critically evaluate the offers coming from it, even if they seem extremely lucrative.
There are other peculiarities of the broker’s operation that deserve attention:
We regret to inform you that MarketsCo engages in dishonest practices. The company generates fake positive reviews about itself. However, negative reviews are also beginning to appear, despite its short time in operation. Traders note that it is quite difficult to get the broker to process withdrawal requests. Additionally, many clients are wary of the fact that the company’s managers constantly insist on account top-ups.
The information we have gathered is sufficient to show that MarketsCo is not trustworthy. Once again, the project was created to appropriate traders’ funds. This is evidenced by the lack of registration and license, concealment of important information for traders, and reviews online. We recommend refraining from cooperating with this broker and not transferring funds to its accounts.
Helen always knew that her passion for journalism was more than just a hobby. It was a potential career. She began her professional journey at a local newspaper in the small town where she was born. Writing on a variety of topics, from local news to financial reviews, her persistence and investigative talent soon caught the attention of editors at larger publications. We are thrilled that Helen accepted our offer and now writes for fincapital-reviews. Her exposés always create a buzz. Sometimes, we think Helen could easily open her own detective agency.
Wow, how clever. I wouldn’t have realized they just bought a domain with a history.
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