Broker

Spread

for EURUSD

Min.

Deposit

Platforms

Offered

Account

Types

Spread

Type

Funding

Methods

Customer

Support

Execution

Details

Markets.com

Offers two ways to trade: Forex, CFDs

 
Markets.com
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Your capital is at risk
$100Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
Trust Score:

B

0

Established in:

2008

Regulated by:

CySEC, Financial Services Boar...

See Details Try a Demo
Your capital is at risk

ThinkMarkets

Offers two ways to trade: Forex, CFDs

ThinkMarkets
See Details Try a Demo
Losses can exceed deposits
$250Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
Trust Score:

B

0

Established in:

2010

Regulated by:

Financial Conduct Authority an...

See Details Try a Demo
Losses can exceed deposits

Forex.com

Offers one way to trade: Forex

Forex.com
See Details Try a Demo
Losses can exceed deposits
$250Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
Trust Score:

AAA

0

Established in:

1999

Regulated by:

Financial Conduct Authority

See Details Try a Demo
Losses can exceed deposits

Hotforex

Offers one way to trade: Forex

Hotforex
Your capital is at risk
$5Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk
CFDs are leveraged products and 73% of retail traders lose money when trading CFDs.Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Rankings are influenced by affiliate commissions. All information collected on 1/11/2017.

The Ultimate Guide to

Choosing a Broker
For Depth of Market

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:

Ready?

Part 1

Why Choose Markets.com
For Depth of Market?

Markets.com scored best in our review of the top brokers for depth of market, which takes into account 120+ factors across eight categories. Here are some areas where Markets.com scored highly in:

  • 10+ years in business
  • Offers + instruments
  • A range of platform inc. MT4, MT5, Web Trader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from pips
  • Used by 0+ traders
  • Allows hedging
  • 1 languages

Markets.com offers two ways to tradeForex, CFDs. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

Markets.com have a B trust score, which is good. This is largely down to them being regulated by CySEC, Financial Services Board, segregating client funds, being segregating client funds, being established for over 10

Trust Score comparison

Markets.com ThinkMarkets Forex.com
Trust Score B B AAA
Year Established 2008 2010 1999
Regulated by CySEC, Financial Services Board Financial Conduct Authority and ASiC Financial Conduct Authority
Uses tier 1 banks
Company Type Public Private Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We’ve compared these in detail in part three of this guide.

Part 2

Who Markets.com is (& Isn’t)
Suitable For

As mentioned, Markets.com allows you to trade in two ways: Forex, CFDs.

Suitable for:

  • CFD Trading
  • Forex Trading

Not Suitable for:

To trade with Markets.com, you’ll need a minimum deposit of $100. Markets.com offers a range of different account types for different traders including a mini account, vip account .

Finally, Markets.com isn’t available in the following countries: AF, DZ, AS, AO, AU, BE, BA, BR, KH, CA, CN, CU, KR, GU, GY, HK, ID, IR, IQ, IL, JP, LA, MO, MY, MM, NZ, MP, PA, PG, PH, PR, RU, SG, KR, SD, SY, TW, TH, TR, UG, VI, VU, USA, VN, YE.

Part 3

A Comparison of Markets.com vs. ThinkMarkets vs. Forex.com


Want to see how Markets.com stacks up against ThinkMarkets and Forex.com? We’ve compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Markets.com ThinkMarkets Forex.com
Fixed Spreads
Variable Spreads
EUR/USD Spread 0.10 1.00
GBP/USD Spread 2.0 1.2 0.9
USD/CAD Spread 3.00.90.9
USD/JPY Spread 0.200.100.90
DAX Spread 2 250.0
FTSE 100 Spread 2 N/A 150.0
S&P500 Spread 1 50.0

Comparison of account & trading features

Markets.com ThinkMarkets Forex.com
Platform MT4, MT5, Web Trader, Tablet & Mobile apps MT4, Mac, Web Trader, Tablet & Mobile apps MT4, Web Trader, NinjaTrader, Tablet & Mobile apps
Services Forex, CFDs Forex, CFDs Forex
Base currency options USD, GBP, EUR, JPY USD, GBP, EUR, CHF, JPY, SGD, AUD, CAD, NZD, CNH USD, GBP, EUR
Funding options Payoneer, Credit cards, Bank transfer, PayPal, WebMoney, DebitCard, Payoneer, Credit cards, Bank transfer, Neteller, BPAY, UnionPay, FasaPay, DebitCard, Bank transfer, Cheque, DebitCard,
Micro account
ECN account

Part 4

Depth of Market

In forex trading, depth of market (DOM) shows the levels of a particular currency that are being traded at different prices. This allows traders to understand the supply and demand, and therefore liquidity of the currency at each price point. A good depth of market means that there will be good liquidity. Where the market depth is low, or poor, there is less liquidity, and this means that a large order has the potential to affect the price.

Liquidity is important to traders who want to take advantage of short-term movements, and therefore want to be able to sell at a moment’s notice. Market depth data is therefore valuable for giving the trader an indication of how quickly they will be able to liquidate their position.

Pending orders are also included in the data, which is why it is also known as the order book. As an example of how the order book works; if the current price is $10, the order book will show how many orders are pending at $9, $11, etc. It doesn’t just show the bid and the ask prices, but also the volume of all bids and offers, in real-time, organised by price level.

Market depth is also an efficient way to check the activity of a particular currency, and traders can find out if there is enough depth and volume to complement their trading style at that given time.

Why it Matters

All the information that DOM provides can be useful for determining whether to place an order. Market depth data allows traders to understand whether the market is weighted towards buy orders or towards sell orders. If more buy orders are open than sell orders, for example, the share price may start to increase because of the increased buying support. However, when there are more sell orders, price tends to weaken due to the selling pressure.

Knowing these resistance and support levels can help traders to establish their entry and exit points.

Brokers that offer Depth of Market

The MetaTrader 5 trading platform displays depth of market data, and is available from regulated brokers such as Roboforex, Exness and Forex4You, amongst others.

Trading with a regulated broker is always preferable to using a broker that is not regulated, and therefore not bound by the high standards set out by regulators.

Conclusion

It is recommended to invest time into learning how depth of market works as this can provide traders with indications about market conditions. However, traders need to bear in mind that not all orders get reflected in an order queue. Some traders (usually who execute large volumes of trades) manage to hide the size so that other traders do not get alerted. Nonetheless, a study of depth of market can help spot support and resistance levels along with other useful information related to the market.


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