Status Markets Broker Summary
- Overall Rating
Here at The Next Bitcoin you can learn about many trading platforms, one of them is Status Markets, we have concluded that Status Markets is a good trading platform, it is NOT a scam! Read our Status Markets review today and learn all you need to know about the Status Markets trading platform and why we recommend it for all traders.
Status Markets Review
The convenience and benefits of the internet are widely recognized and accepted, but you cannot disregard the risks associated with it. When you are shopping for a product or service online, you have to consider everything with a grain of salt because things may not be what they appear. The key is to do your homework, so you don’t have to regret your decisions. As long as you do so, you will be able to make the best decisions for yourself. Going through this Status Markets review is part of the homework because it can help you make a crucial decision; choosing an online broker.
Why would you need an online broker? Their services are required by anyone who is considering trading in the financial markets. It doesn’t matter what market you are after; it could be forex, commodities, stocks, indices and more recently, cryptocurrency. The beauty of technology is that it has brought all these markets at your fingertips. Where you once had to venture out to find a suitable broker to trade, you can now do it from home and take complete advantage of the profitable opportunities. At some point or another, you have probably been envious of people who have made their fortunes from these markets.
There have been a ton of success stories and some of the world’s richest people earned a huge portion of their wealth through trading. In the last few years, cryptocurrencies have also made headlines due to this because they have helped many people in earning high returns within a very short time span. This has obviously resulted in an inflow of people in the financial markets. But, you have to bear in mind that while there are stories about success, there are also failures that happen in the markets.
A number of reasons could lead to these failures and one of them is the broker you decide to use. No two companies are the same and will not be able to offer you the same instruments, platform, tools and conditions, which means your experience will be different. If they are unable to fit the criteria you want, you will not be able to achieve your trading goals and end up with losses. It is not an outcome anyone wants to see and the best way to ensure it doesn’t happen to you is to do your homework when you are looking for a broker.
Over time, the number of companies in the financial markets has increased twofold for keeping up with the inflow of people. You will not run short of options any time soon, but the problem is that all of them promise you the world. So, how do you make your choice? Evaluating the services of a broker is the best way to go about it and you need to do the same in the case of Status Markets. Located in the Marshall Islands, MarCo Global Properties LTD founded this platform in 2017 for helping retail traders and investors in exploring the potential of the financial markets.
During this relatively short time span, Status Market has managed to climb up the ranks quickly and this is primarily because of its top brokerage services, transparency, ethical practices and customer support. Many other companies offer the same, so an evaluation can help you in learning the truth. Let’s check out this review to do so:
|Trading Accounts||Three Account Types; Silver, Gold and Platinum|
|Assets Coverage||Forex currency pairs, Stocks, Cryptocurrencies, Indices and Commodities|
|Trading Tools||Trading Indicators, Trading Calendar, Calculator, Signals, Live Charts, Technical Analysis Tools and Reports, Price Alerts, Market Research, Economic Calendar, Financial News and Risk Management Tools|
|Education and Training||Yes; e-books, online video courses, webinars, seminars, tutorials, in-depth research and glossary.|
|Customer Support||24/5 support via email address, phone number, live chat and online contact form. An FAQ section is also available.|
|Security Policy||KYC (Know Your Customer) and AML (Anti-Money Laundering)|
|Parent Company||MarCo Global Projects LTD|
The Security Infrastructure
Always begin your evaluation of any broker with their security infrastructure. There is no doubt that online trading is a lot simpler and more convenient than its traditional counterpart. But, you have to remember that other than the risks inherent in trading itself, you also need to content with cybersecurity concerns. Cybercriminals are very active on the internet and they need only the slightest opportunity to take advantage of people. There is no shortage of stories where people had to deal with the loss of their hard-earned money, or their confidential data ended up in the wrong hands and was misused.
These are disastrous consequences that you don’t want to go through, but the problem is that trading online means assigning the broker you choose with the responsibility of protecting your money and your information as well. This is not an easy task, so you have to do your homework. A look at the security infrastructure of Status Markets should definitely give you some reassurance because they have been very attentive in this aspect. Knowing that their clients will not be able to focus properly on their trading if they are worried, they have implemented policies for protecting their funds and data.
First off, you will find out that Status Markets is compliant with two of the most renowned security policies i.e. the AML (Anti-Money Laundering) and KYC (Know-Your-Customer). All reputable financial institutions and companies comply with these policies because they can prevent identity theft, financial fraud, money laundering and terrorist financing. This is due to the fact that following these policies enables verification of every individual using a broker’s services. They are required to provide documents for proof of identity and residence, which ensures that no criminals can access the platform.
Proof of identity is usually submitted in the form of a national ID card authorized by the government, a driving license or a passport, which shows your name and photograph. A utility bill, like electricity, gas, or water, or a bank statement will suffice for proof of residence, as long as its issue date is within three months and it shows your name and address. Other than these policies, segregated customer accounts are maintained by Status Markets for ensuring the safety of funds.
Company accounts are kept apart and client deposits are only used for trading activities and not for paying any of the broker’s obligations. Moreover, the funds are deposited with the most reputable banks for ensuring their safety and minimizing the possibility of theft and misappropriation. Full data encryption has also been implemented by Status Markets for protecting all sensitive and confidential data they accumulate while providing their services.
The Trading Products
It would be foolish for any trader to sign up with a broker without evaluating their trading products. If they don’t offer you the ones you want to trade, or their choices cannot help you earn the kind of profits you are after, why bother registering with them at all? It will only be a waste of your time and effort because you will eventually have to look for a different option. Doing your homework beforehand can save you the effort and time and help you find a company that offers you exactly what you wish to trade. There are hundreds of thousands of trading products in the financial markets and their rate of return varies.
Some brokers prefer to offer trading products that belong to a particular market, while others prefer to offer access to products in various markets. It is up to you to decide which kind of company you want to use. Even if you currently want to trade in a specific market, it is better to choose the latter option because you may want to spread out later on. At that point, having to change brokers, or to open accounts with several others can be a big hassle. Also, managing multiple accounts is no piece of cake and you will end up missing out in one market or the other.
But, even in the latter category, you should ensure that the options are the right ones and can help you in earning the profits you want. The rate of return you can expect from a trading product depends on the market it belongs to, its volatility and demand and supply. The trading products that you will find at Status Markets belong to a range of markets, which means that every trader is likely to find something suitable for their trading needs. You have more than a 100 options to explore across different markets.
This is definitely an advantage because it means you have the room to diversify your investment portfolio, which can go a long way in minimizing your trading risks and increasing your profits. The markets that you will be able to trade in at Status Markets are:
- The Stock Market
Who hasn’t heard of the stock market? It is the one space that has been considered synonymous with trading and the trading products provided by Status Markets include stocks of some of the world’s top companies. These include names like Apple, Google, Amazon, Samsung, Barclays, Alibaba and Adidas.
- The Forex Market
The daily trading volume of the foreign currency market is more than $5 trillion, which has helped it earn the title of the biggest financial market in the world. You can trade a ton of currency pairs in this market and Status Markets has ensured that you can choose from major, minor and even exotic pairs to explore. EUR/USD, GBP/USD, USD/JPY, EUR/GBP, USD/CHF, USD/CAD and AUD/NZD are some of them.
- The Indices Market
Another financial market that’s renowned globally for offering lucrative trading opportunities is the indices market. You can find a number of profitable indices to trade at Status Markets and these include FTSE 100, CAC 40, DAX 30, S&P 500 and NASDAQ 100.
- The Cryptocurrency Market
This is relatively newer than the other financial markets, but it doesn’t mean that you cannot make profits here. In fact, the extreme volatility of the trading products here have made it immensely popular and the primary reason why many people have rushed towards online trading recently. To cater to their clients, some of the world’s leading cryptocurrencies have been added by Status Markets to its offerings, such as Bitcoin, Bitcoin Cash, Litecoin, Ethereum, NEO, Dogecoin, Ripple, Tether and Monero.
- The Commodities Market
One market that’s not only old, but also known for balancing the trading risks due to its low volatility, is none other than the commodity market. You can find soft commodities available at Status Markets that refer to agricultural items like cotton, sugar, coffee and corn. There are hard commodities that refer to precious metals like gold and silver. Energy commodities are another option to check out and these include crude oil and natural gas.
The Trading Platforms
Your profits in the financial markets don’t only depend on what instruments you are trading, how you trade them can also play a vital role. This means that the trading platform you use for executing your trades is an essential element in the process. It can have an impact on your performance and eventually, your profits. How? The trading platform is, put simply, the software that connects you to the financial markets and is used for opening and closing positions. If it is too slow, you will not be able to capture profits from a price movements, or save yourself from losses due to a movement.
If it doesn’t provide you the right tools, you will not be able to make sound decisions. Likewise, if it lags and breaks down, you will be cut off and this can also lead to losses and missed trades. In a nutshell, the platform has to be up to the mark, so you need to evaluate the trading platform provided to you by a broker. You will discover that there is not one, but several platforms that Status Markets has added for facilitating its clientele. Their professional team is fully aware of the role this feature plays in a trader’s journey and has ensured that you will not be left wanting.
Their trading platforms give you the freedom to trade on any of your devices, as long as you have an internet connection. You will find that Status Markets has provided the outstanding MetaTrader4 trading platform to their clients, which is considered the best one out there. It is a modern trading solution that uses advanced technology for delivering lightning fast trade execution. Features like one-click trading are available and traders can also reap the benefits of EA (Expert Advisors) for automating their trades, thereby ensuring that no opportunities slip out of your fingers. The MT4 can be downloaded on both Windows and Mac devices.
Other than this desktop-based solution, a WebTrader has also been added by Status Markets for those who prefer not to download anything on their devices. The simple yet feature-rich environment of this trading platform can enable you to trade easily and the user-friendly interface ensures that you don’t have to overcome a learning curve. You will also find mobile MT4 apps available, which can be downloaded on Android and iOS ecosystems, as per your preference. These can come in handy for traders who want flexibility in trading and can use them for trading from anywhere.
No matter which platform you go for, you will be pleased to know that Status Markets has equipped each with cutting-edge trading tools that can enhance your trading performance. The economic calendar helps in tracking important dates and events, while the live charts and graphs are helpful in predicting patterns and trends. There is a complete range of technical analysis tools, as well as risk management tools. Trading indicators, market signals, price alerts and the latest financial market news complete the offerings.
The Registration Process
Evaluating the registration process of a broker is also a crucial step that you don’t want to miss out. After all, you have to ensure that you can sign up on a platform and can fulfill their requirements, if any. Some platforms have prerequisites that need to be met and you need to know what they are, so you can be prepared. Plus, you also want to make sure you can go through with the process, as some companies have made it so complex and long that many people are unable to do so. The registration process at Status Markets will come as a breath of fresh air because it is straightforward and very quick.
It doesn’t take you more than a couple of minutes because registration with Status Markets is essentially filling out a single form on their website. This is a very basic form and doesn’t require you to complete any difficult tasks. It asks for your first name, surname, an email address, phone number and country of residence. You have to choose a language and the options include English, Polish, German, Spanish and Russian. The last steps include agreeing you are 18 and not a resident of the USA. You also have to agree with the Terms & Conditions mentioned on the broker’s website and you are good to go.
The Account Choices
Before you can start trading with a broker, they will ask you to choose an account. It is the norm for companies to offer several choices to their clients, especially when they are targeting traders of different skill levels. Obviously, their needs, trading style and preferences will vary, so they have to be accommodated accordingly. But, the account choices offered by every company may not be a good and comfortable fit, so you have to ensure that you can find a choice that works out for you. Otherwise, you will not have a good trading experience and this can be demotivating.
A total of three choices are at your disposal at Status Markets and each of these offers different conditions and features to the users. The primary way to distinguish between these options is via the leverage they offer. You can see the details below:
- Silver Account
The first account choice that you will be given at Status Markets is known as Silver and this one is aimed at beginner traders. Therefore, the leverage offered for different trading products is very basic here. It begins with 1:20 for equities/stocks, 1:50 for commodities, indices and precious metals (gold and silver), whereas 1:200 for the forex market.
- Gold Account
The second account choice that has been added for intermediate traders by Status Markets is called Gold. The leverage now increases here, starting with 1:40 for equities/stocks, 1:100 for commodities, indices and precious metals (gold and silver) and 1:300 for the forex market. This account also has a swap discount of 25%.
- Platinum Account
The last account choice that you can check out at Status Markets is known as Platinum and this one is meant for professional and expert traders. It offers the highest leverage of all, starting at 1:50 for stocks/equities, 1:125 for indices, precious metals (gold and silver) and commodities and 1:400 for the forex market. The swap discount here is 50%.
As far as account features are concerned, you will find that Status Markets allows its clients to use a dedicated account manager, customer support, videos and webinars, hedging strategies, news alerts, fifth decimal and free VPS. Islamic account option is also available to welcome Muslim traders to the platform.
A careful evaluation of the most important services of Status Markets reveal that it has done a good job of providing a comprehensive trading solution for everyone.