MarketsCo

Investigating MarketsCo: A Comprehensive Review

Would you like to get acquainted with a CFD and Forex broker where you can trade and invest in one trading platform? Then read our MarketsCo review. In it, we explain how clients of this company end up without money and provide other arguments proving that the platform cannot be trusted.

Is MarketsCo Trustworthy?

The task of finding information about the company’s registration and licensing on the website pages or in the documents is not easy. At least, we did not manage to see the official address of the company or the permit number for brokerage activities. We immediately note that all regulators require the publication of this information in the public domain. By not posting it, MarketsCo is already violating laws and established work procedures.

We tried to verify the company’s official data ourselves. Since the company has a British phone number, we started with the Companies House database. However, we did not find any relevant records there.

In the Terms & Conditions text, the broker states that its relationship with clients is governed by the laws of “saint vincent and the grenadines.” Checking this fact allows us to make two conclusions immediately:

1. The creators of the website and documents for the broker are not just amateurs; they are also illiterate people because even school students know that capital letters are used in the names of countries.
2. MarketsCo is not registered in Saint Vincent and the Grenadines. There is no data about this company in the registry of the local regulator SVGFSA, which keeps track of all financial companies and services officially registered in the country.

It is easy to understand that the project is not officially registered and only provides brokerage services on the Internet. Moreover, no regulator, including offshore ones, has issued permits for such activities to the unregistered firm. Without a license, the firm operates illegally. At the same time, the interests and rights of its clients are not protected by anyone.

The broker also does not provide information about its history on the website. However, this is not surprising. The founders use the domain marketsco.com, which according to the whois service, was registered in May 2016.

However, in the web archive snapshots, it is easy to see that until the end of February 2024, this domain was being sold by the registrar, GoDaddy. It seems that it was only purchased on the date of the last change on February 27, 2024. By the way, only after this date did the first MarketsCo reviews and pseudo-expert articles appear on websites.

If you look closely, you can find many more minor problems with MarketsCo, which indicate the opacity of the platform’s operations and attempts to mislead clients. For example:

• It is said on the homepage about the company’s 10,000+ clients. Right next to it, there is mention of 50,000 users monthly. Getting 10k registrations out of 50k in just a couple of months is impossible. This means that the broker has definitely placed fake information about the number of registered clients. However, 50k visitors per month is also unreliable information. Traffic monitoring services show that their number has not exceeded 1,000 during the platform’s existence.
• It is impossible to register on MarketsCo independently. After submitting the filled form, the user receives a message that their request has been accepted. However, an active account can only be obtained after contacting customer support. Why such complexities? The broker knows better who it wants to see among its clients and who it does not. Isn’t that completely transparent relations?

Exploring Fees and Charges

Finding any information about non-trading operations on MarketsCo can only be done on the FAQ page. Here, the broker states that the user can deposit funds and make withdrawals using:

• Bank transfers.
• Credit/debit cards.
• Electronic wallets.

The size of the commissions is hardly mentioned, except for one case. Representatives of the platform in the same FAQ claim that the commission for depositing money in most cases is zero. However, users are advised to familiarize themselves with the list of payment methods and the cost of transactions. However, they forgot to mention where to find such valuable information, and it is not available on the official website.

Checking the information provided by the broker in the personal account is also not possible. The promised contact from support service representatives never arrived. Without this, no one would have opened an active account for us, and, consequently, we never gained access to the client’s personal workspace.

However, looking at how MarketsCo advertises Banking on Blockchain, we hardly doubt that traditional payment methods are hardly used in the project. Moreover, the website states: “We accept crypto too.” Most likely, users will be offered to deposit funds and receive payouts specifically in cryptocurrencies. For the platform, this is the best option not to disclose its financial details to financial and tax authorities. In addition, such transactions cannot be reversed, which practically deprives clients of the chance of a chargeback.

How User-Friendly Is the Trading Platform?

MarketsCo has an undeniable advantage: the broker allows any user to familiarize themselves with the trading platform. Of course, this is not a full-featured or even a demo version of the terminal. However, even in this version, an experienced trader will appreciate the strengths and weaknesses of the software.

And there are far more weaknesses in this software product than strengths. For example:

• In the market overview, only 2 sorting options for assets are available. Moreover, the user cannot remove unnecessary instruments from the lists themselves. As a result, selecting the desired ticker requires a certain amount of time, which the trader may not have.
• Only one price chart is available in the workspace.
• The 1-Click trading mode is unavailable.
• It is impossible to save chart settings and the terminal as a whole.

Moreover, some reviews online suggest that this terminal (it is not developed by MarketsCo and is common to many similar projects) allows direct intervention by the administrator in the quote flow. In this case, talking about fair and profitable trading with the broker makes no sense at all.

What Do Clients Say?

The broker appeared online no more than two months ago. However, even in such a short period, several MarketsCo reviews have appeared online, in which the authors urge not to trust the platform. They point out obvious shortcomings of the project: lack of registration and license, opaque registration, cryptocurrency transactions, etc.

At the same time, there is evidence that the company spares no expense in building a positive image. For example, one only needs to look at the dozens of positive reviews on various portals, obtained in just 1 month. Moreover, the commissioned nature of the reviews leaves no doubt. For example, many praise the trading terminal, in which it is actually impossible to work comfortably and profitably. Others extol excellent trading conditions that the broker does not even disclose. We recommend treating such posts critically and independently verifying the information provided in them.

Final Thoughts: Can You Rely on MarketsCo?

We have included in our MarketsCo review several of the most important facts that show that the broker is not trustworthy. To remind you, the platform operates without official registration and license, hides trading conditions, and provides users with unreliable information. This is enough reason not to engage in any business with this pseudo-company and certainly not to transfer money to its accounts.

Strengths and Weaknesses