MarketSpots Review — Diversifying Your Investment Portfolio
Are you looking for an investment opportunity? Everyone wants to have a secure financial future and the easiest way to go about it is to make some smart investments that can give you the right kind of returns. This sounds simple enough, but the real trouble begins when you start hunting for an opportunity to invest in. It proves to be a big challenge because most of the options you do come across are not offering the kind of return you want. With the economy on a decline, returns have also dropped and this can be extremely frustrating. If you are in this boat, then you may consider exploring the financial market for making your investments.
The forex, stocks, commodities and other markets can provide a ton of opportunities for people to make some money. People have been trading in these markets for years and many of them have been able to secure their future by earning substantial sums of money. Who says you cannot do the same? But, while people were aware of this option, they didn’t really give it a thought because trading was not that straightforward. However, this was a long time ago and things have changed significantly because of the internet and technology. Today, you have access to everything online and this also includes the trading world.
The physical requirements have now been eliminated and you don’t have to go anywhere in order to start trading. In addition, you don’t have to trade full-time and can set your own hours, decide how much you want to invest and trade as many instruments as you like. This kind of freedom is not available elsewhere and the best part is that it can also enable you to earn the kind of returns you want. Therefore, it is not surprising to know that many people are interested in online trading.
You can get started even if you don’t have any previous knowledge or experience, but how? You have made up your mind about stepping into the financial markets, but how will you do it? Where will you go? The key to this lock is a broker. They have been part of the trading world from the get go, and even in this world of technology, they remain just as vital. Every trader partners with a brokerage in order to start their trading journey, no matter what instrument you want to trade or how much you want to invest.
Online brokers are plenty and you can find one easily through a Google search. But, it is essential to remember that you need to be careful about selecting one. This is because not all companies will offer you the same level of service or features. As your goal is to make profits, you want to be able to do it easily and with minimal issues. In order for that to happen, your trading platform needs to be a good and reliable one. One of the options that you will find in the market is known as MarketSpots, a company that offers a wide array of instruments to traders from all over the globe.
Nonetheless, it is your job to determine if they are the right fit for you or not. How can you do that? You can accomplish this by doing your research into MarketSpots and learning everything there is about their trading process and other details. Check out the necessary information below:
Broker — MarketSpots
Website — https://marketspots.co/
Trading Accounts — 5 Account Types; Standard, Silver, Gold, VIP and Pro. Demo Account also available
Minimum Deposit — $250
Assets Coverage — Forex, Commodities, Shares, Indices and Cryptocurrencies
Trading Tools — Live Charts, Economic Calendar, Risk Management Tools, Price Alerts and Trading Signals
Education and Training — Yes; free market research, Trading Academy, Webinars, Tutorials, E-books, Sessions with Market Analyst
Customer Support — 24/6 through live chat, online contact form, email and phone number
Security Policy — KYC (Know Your Customer) AML (Anti-Money Laundering) and Customer Acceptance (CFT)
MarketSpots’ Trading Platforms
Brokers were part of the traditional trading process and that’s understandable, but what do they offer you today? What makes them necessary? They are required for online trading because they provide you the most crucial feature you need in order to trade; a trading platform. This is the software that connects to the financial markets and enables traders to open and close positions as per their choice. The platform has to be secure, reliable, and easy-to-use and should have the right tools to simplify the trading process. The kind of platform you get can vary for companies and this is something you need to look into.
After all, you don’t want to face any complications when you are trading, so it is best to do your research. MarketSpots has developed their own trading platform for their clientele and it is an online one. This means that it is accessed through their website and you don’t have to download it anywhere or install it. As far as functionality is concerned, it is powered by sophisticated technology to deliver a seamless trading experience to clients. With a clear dashboard, it is easy to navigate the trading platform and can be fully customized according to your preferences.
Speedy trade execution is possible with features like one-click trading and traders can open and close positions within seconds. It can be used on laptops, desktop PCs and tablets as well and works just as smoothly on all these devices. Moreover, multiple assets can be traded from the same platform and without any hiccups. MarketSpots have also equipped it with some of the top trading tools, such as latest market news, price alerts, charting tools and various other fundamental and technical analysis tools that can help traders in making better and smarter decisions in the long run.
To allow their clients to enjoy trading on the go, MarketSpots have also developed mobile trading apps for Android and iOS devices. These can be downloaded from their respective stores within a few seconds and can be used anywhere and anytime for making your trades. The apps are also easy to use for all traders and come with good tools that can be immensely helpful for the traders in making their moves.
MarketSpots’ Trading Instruments
You cannot really move forward with a broker without knowing what you will be able to trade with them. Whether you have a particular market in mind or you just want to spread out your capital, it is still a good idea to check the trading instruments in order to ensure they are profitable options and can help you reach your financial goals. MarketSpots has put together more than 1,000 trading instruments on its platform and these are divided into different markets. You can find choices in forex, stocks, commodities, indices and cryptocurrencies. This ensures that traders can find something they are specifically looking for or have the freedom to diversify their portfolio.
Explore the top choices that you will find at MarketSpots:
Stocks: The stock market is known by people all over the world for offering excellent returns to traders and you can enjoy the same. There are shares of numerous companies to be traded and can be quite beneficial, as long as you pick the right ones. Some of these firms include Alibaba, American Express, IBM, Microsoft, Facebook, Alphabet Inc., Apple Inc., Pfizer Inc., Home Depot, Barclays, MasterCard, Boeing Co, Twitter, Exxon Mobil, General Motors Co, BMW, Morgan Stanley and more.
Forex: One of the most lucrative markets that you will come across is none other than the forex market, where there are thousands of currency pairs available for trading. You can choose from a variety of major, minor and exotic pairs that can offer hefty returns to their clients. These include USD/CHF, NZD/CAD, CHF/JPY, EUR/USD, USD/JPY, AUD/USD, EUR/MXN, EUR/GBP, GBP/JPY, EUR/CAD, EUR/NZD, AUD/CAD, USD/RUB, EUR/TRY and EUR/RUB.
Indices: Another profitable and volatile market that can give people impressive returns is the indices market. There are numerous indexes that people can trade and some of the most prominent ones include NASDAQ, S&P 500, UK100, JPN 225, Dow Jones 30, AUD 200 and Swiss 20 amongst others.
Cryptocurrencies: One category that has become quite well-known nowadays is that of cryptocurrencies. These digital currencies have become popular all around the globe and many people are rushing into the trading market just to invest in them. The good thing about MarketSpots is that it has not only given traders the option of investing in leading choices like Bitcoin, Litecoin and Ethereum, but there are plenty of other options, such as Ripple, Bitcoin Cash, DASH, Monero, Zcash, NEM, IOTA and NEO.
Commodities: Less-volatile and consistent trading instruments include commodities, and there are different types that can be found in the market. Soft commodities is a term used to refer to agricultural items like wheat, corn, cocoa, coffee, sugar, cotton and rice while hard commodities includes precious metals like copper, silver, gold, platinum and palladium. You can also go with energies like oil and natural gas.
With these combinations, it is possible for traders to diversify their investment portfolio in order to keep their risks low.
MarketSpots’ Registration and Verification
The first step that every broker will require you to complete is referred to as registration. You have to provide some information about yourself in order to sign up with them and there may be some prerequisites involved, which can vary for every company. Therefore, it is best to check out what you need to do in order to complete the registration procedure. At MarketSpots, you are required to fill out one form on their website to initiate the sign up process. This form asks for details like your first name, last name, email address, phone number, country and a password.
Traders are requested to give proof of their identity, residence and payment in order to verify their account. The first requires them to submit any form of ID with a photograph, such as their government-issued identity card, passport or a driver’s license. Make sure whatever option you go for is valid and not expired. The second can be done by submitting a utility bill like gas, water or electricity, a bank statement, or any other document that shows your home address. None of these documents should be more than three months old.
As far as proof of payment is concerned, it is needed in case you use your debit or credit card for making your withdrawals or deposits. You have to submit a photo of the front and back of the said card, and hide the CVC and the last four digits of the card when doing so. MarketSpots will verify these documents and your account will be approved. This kind of verification will reduce the chances of identity theft and prevent terrorist financing, money laundering and other such problems.
MarketSpots’ Account Offerings
The whole point of registering with a brokerage is to open an account with them. In most cases, you will find that several account types are provided to you and you have to choose one of them. These accounts are developed for a specific category of traders and you have to select the one where you fit. The options provided by every company will vary, so you need to know what account offerings are provided by MarketSpots.
You will find that they have added five account offerings to their platform in order to facilitate traders from varying backgrounds and different skillsets. What are these options? Find out below:
1- Standard Account
Traders who are starting out in the financial markets will find this to be a good option as it carries a minimum deposit requirement of $10,000. In this account, traders are given access to a 25% margin loan, a Trading Academy, a personal account manager, 1:200 leverage, a weekly market review, a weekly portfolio progress report and daily news.
2- Silver Account
Those traders who have some experience in the market can go with the Silver account, which asks them to deposit a minimum of $50,000. There are some changes in this account, as the margin loan now increases to 35% and traders get a daily market review instead of a weekly one. They can also have a monthly sessions with a certified accountant for guidance and get their portfolio progress report daily now. Their account is also monitored 24/7 by a leading analyst group and they can take advantage of a discount on commission of 25%.
3- Gold Account
If you are an intermediate trader, you will like the Gold account as this comes with a minimum deposit of $100,000. In return, it provides you with a 50% margin loan, a personal portfolio manager, and weekly one-on-one session with a market analyst, and a 35% discount on commission. Traders can also attend a weekly live stream trading webinar and receive an end of year summary with a certified tax specialist.
4- VIP Account
Traders who are skilled and advanced can opt for this account offering, which asks them to deposit a minimum of $250,000 to begin. This account offers several bonuses, such as a higher leverage of 1:300 and a margin loan of up to 75%. Moreover, traders now get a daily 1-on-1 session with a market analyst and can also get customized education. Other features include invitation to VIP events, access to in-depth research, daily trading signals, a managed portfolio and the assistance of a VIP advisor. The discount of commission is now at 50%.
5- Pro Account
To cater to professional traders on its platform, MarketSpots has put together the Pro account and this can be opened with a minimum deposit of $1,000,000. With this account, traders can get leverage of 1:400 and enjoy a 100% margin loan as well. They receive unlimited access to exchanges and a personal chief portfolio manager. This account also gives them daily live stream trading webinars and a wealth manager. The spreads in this account are super tight, which means traders can benefit from high payouts. The discount on commission is set at 75%.
Along with these five account offerings, there is another option that you will come across at MarketSpots; a demo account. For newbie traders, this is a blessing because it allows them to practice trading before they have to actually risk their hard-earned money. For others, it is a chance to test the broker’s platform and their tools and conditions before using their services for beginning their trading journey.
MarketSpots’ Security Infrastructure
One of the most important parts of our MarketSpots review today is telling you about their security measures for clients. Having a secure trading environment is of the utmost importance for traders to be able to trade without constantly worrying about having their money stolen or their personal information compromised in any way. As seen above, you have to share sensitive data with a broker when you are registering and opening an account with them and this automatically gives rise to some concerns, which are quite valid. Hence, you need to ensure that the platform you choose will not leave you exposed in any way. MarketSpots has promised its clients a safe trading environment, but do they live up to it?
You will find that the website uses high-end SSL (Secure Socket Layer) technology for encrypting all data that’s entrusted to them by their clients. Not only your personal information, but any communications with the broker are also encrypted to prevent anyone from taking advantage. They also monitor their clients’ accounts round the clock to highlight any suspicious activity in order to prevent any cybercriminals in hacking trading accounts. As far as funds security is concerned, MarketSpots has opted to follow the rules of customer account segregation.
This implies that client deposits are kept in separate accounts from the company’s own, which keeps them safe from misappropriation. The money is only used for trading activities and no other purpose, so they cannot be stolen or misused.
MarketSpots’ Customer Assistance
It is a well-known fact that customer support can make or break a business. This is particularly true for service-based businesses, but the problem is that many brokers don’t really pay much attention to this aspect, which can annoy their clients later on when they require help. You never know when you may need assistance during the trading process, so it is best to opt for a company that takes its customers’ satisfaction seriously. MarketSpots promises its clients customer assistance 24/6, but does it deliver? You will find that they have added several ways through which their team can be contacted.
Firstly, you will be pleased to see the live chat option available, which allows you to get answers as quickly as possible. If you don’t want to go with this option, you can visit the Contact Us section on their website and find other channels that can be used. These include an email address and an online contact form that asks you to share your problem. You also have the option of giving MarketSpots’ team a call on the phone number provided. Their staff is multilingual and well-versed and knowledgeable about the trading market, so they will be able to assist you right away and help you get back to trading.
With access to an education center, competitive trading conditions and an array of trading tools and products that can come in handy, traders can sign up with MarketSpots and step into the financial markets for diversifying their investment portfolio and earning high returns.