Switch Markets vs Markets.com
Switch Markets or Markets.com – which is better for UK traders 2024? Compare Switch Markets and Markets.com in this detailed breakdown of their platforms, features and fees.
| Switch Markets | Markets.com |
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| Switch Markets is ranked #97 among CFD brokers. | Markets.com is ranked #29 among CFD brokers. |
| Switch Markets is a multi-asset CFD brokerage, regulated by ASIC and SVGFSA. The new brand offers trading on the MT4 platform and leverage up to 1:500. The broker boasts over 180 instruments, with some additional tools including copy trading services and free VPS hosting. | Markets.com is a respected broker, offering multi-asset trading opportunities through CFDs or spread betting (UK only). Established in 2008, the brand has an impressive 4.3 million registered customers and is overseen by trusted regulators, including the FCA, ASIC and CySEC. 79.1% of retail accounts lose money. |
| CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Note: trading Cryptocurrency CFDs and Spread Bets is restricted in the UK for all retail clients. | |
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| Cons | |
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| Awards | |
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| FCA Regulated | |
| No | Yes |
| Instruments | |
| CFDs, Forex, Stocks, Cryptos, Commodities | CFDs, Forex, Stocks, Commodities, Indices, Crypto, ETFs, Bonds, Spread Betting (UK Only) |
| Demo Account | |
| Yes | Yes |
| Minimum Deposit | |
| $50 | $100 |
| Payment Methods | |
| Minimum Trade | |
| $1 | 0.01 Lots |
| Regulator | |
| ASIC | FCA, CySEC, ASIC, FSCA, FSC |
| Mobile Apps | |
| iOS & Android | iOS, Android |
| Trading App | |
Markets.com operate MarketsX – the bespoke platform, both on WebTrader and mobile applications. The app, available on android and iOS has been downloaded over a million times. |
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| iOS App Rating | |
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| Android App Rating | |
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| Margin Trading | |
| Yes | Yes |
| MetaTrader 4 | |
| Yes | Yes |
| MetaTrader 5 | |
| No | Yes |
| cTrader | |
| No | No |
| AlgoTrader | |
| No | No |
| OmniTrader | |
| No | No |
| TradingView | |
| No | No |
| Autochartist | |
| No | No |
| eSignal | |
| No | No |
| Trading Central | |
| No | No |
| STP Account | |
| No | No |
| ECN Account | |
| No | No |
| DMA Account | |
| No | No |
| MAM Account | |
| No | No |
| PAMM Account | |
| No | No |
| LAMM Account | |
| No | No |
| Demat Account | |
| No | No |
| AI / Machine Learning | |
| No | No |
| Robo Advisor | |
| No | No |
| Negative Balance Protection | |
| Yes | Yes |
| Market Maker | |
| Yes | Yes |
| P2P Trading | |
| No | No |
| Spot Trading | |
| Yes | Yes |
| Auto Trading | |
| Yes - Equinix | |
| Copy Trading | |
| Yes | No |
| Copy Trading Platform | |
| Switch Markets offers copy trading services with low fees via the MetaTrader 4 terminal. | |
| Social Trading | |
| Yes | No |
| Trade Signals | |
| MT4 | Trading Insights |
| VPS Hosting | |
| Yes | No |
| Tournaments | |
| No | No |
| Demo Competitions | |
| No | No |
| Ethical Investing | |
| No | No |
| Custodial Account | |
| No | No |
| Guaranteed Stop Loss | |
| No | Yes |
| Inactivity Fee | |
| $10 | |
| Islamic Account | |
| Yes | Yes |
| Account Currencies | |
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| Commodities | |
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| CFD | |
| Switch Markets offers 180+ CFD instruments with 1:500 leverage and fast order execution speeds of <76 ms. I find commissions are also fairly competitive, coming in at $7 per round turn for Pro account holders. | Markets.com offers a strong variety of CFD products, not only covering popular asset classes but also more interesting markets such as IPOs and Bonds. The low fees and educational resources will appeal to beginners, whilst seasoned CFD traders will appreciate the feature-rich charting platforms. |
| Leverage | |
| 1:500 | 1:30 |
| FTSE Spread | |
| 1.2 | 2 pips |
| GBPUSD Spread< | |
| 0.5 | 1.3 pips (var) |
| Oil Spread | |
| 2.0 | 0.05 |
| Stocks Spread | |
| Variable | 4 pips |
| Forex | |
| I think the range of 60+ major, minor and exotic currency pairs is fairly competitive, especially with spreads from 0 pips in the Pro account. Experienced traders can also access high leverage up to 1:500 in the popular MT4 platform. | Markets.com offers 43 major, minor and exotic currency pairs. The range is around the industry average, though spreads are fairly competitive, starting from 0.6 pips for EUR/USD. There’s also an excellent range of tools and education, including forex calculators and trading videos. |
| Assets | |
| 60+ | 67 |
| GBPUSD Spread | |
| 0.5 | 1.3 pips (var) |
| EURUSD Spread | |
| 0.1 | 0.70 pips (var) |
| EURGBP Spread | |
| 0.6 | 1.0 pip (var) |
| Cryptocurrency | |
| There's only 6 crypto CFDs available at Switch Markets, though I was pleased to see leverage of 1:3 available. I like that you can also benefit from BTC, ETH, XRP, USDT and USDTRC20 deposit options. | You can open long or short positions 24/7 on 25+ popular digital currencies including Ripple, Bitcoin, Neo and Monera. Spreads on Bitcoin are around 51.13 which is uncompetitive compared to other brands, although the 1:20 leverage will offer greater exposure to the market. |
| Spread | |
| Variable | BTC 88.94 (USD), ETH 5 (USD) |
| Coins | |
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| Crypto Lending | |
| No | No |
| Crypto Mining | |
| No | No |
| Crypto Staking | |
| No | No |
| Auto Market Maker | |
| No | No |
| Switch Markets | Markets.com |
| CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Note: trading Cryptocurrency CFDs and Spread Bets is restricted in the UK for all retail clients. | |
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Switch Markets vs |
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