- Isle of Man Gambling Supervision Commission Regulated
- Instant trade execution times
- Excellent customer service
- Limited range of tradable markets
- No additional tools or resources provided
- Mobile app requires improvement
MarketsWorld, instant execution times and UK-licensed binary options broker
Customer support and security can be considered the strongest pull for traders when it comes to UK-based and registered MarketsWorld. Because binary options brokerage comes under the supervision of gambling rather than financial regulators in the UK, MarketsWorld is able to offer some very attractive bonuses to clients, which is a real strength of the broker.
Opinion of the broker’s proprietary trading software will be divided. Traders who are happy to use external tools such as news feeds, in-chart technical analysis, indicators etc. and prioritise speed of trade execution will love this platform. Those who like to have everything they need in-platform will be less enthusiastic about the stripped-back format. The mobile apps could be improved with some user criticism of trade execution speeds not meeting the very high standards set by the desktop platform.
While the tradable markets offered cover the vast majority of binary options trade volume, it is not the richest choice out there and this could also be potentially improved on going forward.
Binary Options trading is both a fantastic introduction to trading financial markets for those who have little prior experience or as an additional instrument for the more seasoned to hedge or employ for alternative trading strategies. Binary options’ limited risk and simplicity is a great way to get to grips with the principles that influence price movements on a day to day basis. The win/lose character of binary options and the fact that the profit or loss in both scenarios is known at the point the trade is made also appeals to more sophisticated traders as a hedging option.
Binary options trading has rocketed in popularity in recent years, precisely due the above-mentioned advantages. The result of this popularity has led to an explosion in the number of binary options brokers. This has largely been a positive for traders, intensifying competition and leading to an overall increase in standards across trading software, value-added resources and payouts on in-the-money trades.
However, for every upside there is always the other side to the coin and the number of binary options brokers out there can be a real maze to find a way through when it comes to choosing one to trade with. However, always happy to lend a hand, we’ve done our best to try out as many of the options on the market as we can to report back with how they perform on different key criteria. In this review we are looking at MarketsWorld, an Isle of Man-based binary options platform.
Established in 2011, MarketsWorld is among the oldest UK-registered binary options trading brokers and also one of the very few that is licensed to work with traders from the U.S. Binary Options, like spread betting, falls under the regulatory jurisdiction of gambling rather than financial regulators in the UK. As such, MarketsWorld, based in the Isle of Man, is regulated by the Isle of Man Gambling Supervision Commission.
UK-regulation comes with a number of assurances for traders, most important among which surely must be the protection of funds and potential winnings. The regulatory regime of the IoM Gambling Supervision Commission ensures that the company must maintain segregated cash reserves to cover all actual and potential debts. These funds must be banked in the Isle of Man.
The trading platform and customer support are provided in 13 different languages in total, including Mandarin, Thai and Arabic.
MarketsWorld’s trading platform is web-based only meaning that no downloads are required for the desktop version. The underlying principle of the platform is that it is light, simple and fast, which comes with several advantages and also a couple of drawbacks, depending upon what a trader is looking for in a platform.
It can be best described as software that prioritises trade-execution. The trading platform is stripped back and is, essentially, execution only. In-platform technical analysis cannot be performed directly on trading charts and there are few bells and whistles such as news feeds, alerts, signals, sentiment analysis and social trading functions.
However, four to five charts can be displayed simultaneously on-screen and open-trades and trade history windows are also conveniently displayed.
The advantage of MarketWorld’s stripping back of extras on its trading platform is that trade execution itself is fast – very fast. Immediate trade execution, rather than the 2-3 second delay experienced with most trading platforms, is the real USP of MarketWorld and what attracts and keeps its traders.
MarketsWorld’s trading platform comes in both Android and iOS app format. Like the platform itself, the app keeps things simple and is focused on its core function of facilitating the placing and monitoring of trades rather than add-ons and extras. However, the response time and speed of trade execution via the app is not to the same level as the desktop version and, as such, most MarketsWorld traders do the majority of their trading via desktop.
Binary options traders can trade 14 currency pairs as well as three equities indices and gold via MarketsWorld, with individual equities not currently offered. While the options available do cover the large majority of what most binary options traders want, it is a rather limited selection and may put off those who like to trade equities or some of the indices and commodities markets not provided.
Trading Features, Fees and Payouts
One of the strongest features of MarketsWorld’s trading platform is the range of expiry times offered on binary options. Standard option expiry periods offered are usually in small increments of not more than 20 minutes from the time the option is taken out, up until the market’s close that day. The shorter ‘countdown’ format provides expiry times of 1, 2 and 5 minutes from the option being taken.
As already mentioned, MarketsWatch does not come with a great deal of additional features such as technical analysis charting, news and indicators etc. A free demo account is provided for an unlimited period of time to allow traders to hone their skills or try the platform out before trading with real money. When a real money account is opened, for a minimum £/$/€10 deposit, trades can be placed with a stake as small as £/$/€1.
Payouts provided by MarketsWorld are among the most generous on the market and reach up to 90%. Averages are at 77%-80% and while it is difficult to really confirm the company’s own assertion payouts are the best offered by a binary options broker, they are certainly at the top end of the scale.
Bonuses are a real strength of MarketsWorld with several offered to new traders opening an account for the first time and also for regular traders. The beauty of the bonuses provided by the broker is that, unlike with many bonus promotions, they are kept in a separate ‘bonus money account’ and do not in any way tie up real cash funds a trader has added to their account. Once trade volume rollover requirements have been met, upon which no time limit is places, bonus funds are automatically transferred to the trader’s account balance and can be traded with or withdrawn with no restrictions.
The first bonus that traders take advantage of is a £10/$/€10 initial no-deposit bonus issued as soon as a new account has been opened and before any funds have been paid into it. Next up comes a 100% deposit match bonus on initial funding of their account with real cash, up to a maximum value of £/$/€1000.
A risk-free trade bonus worth up to £/$/€ also comes into play on a new account holder’s first trade, giving them 2 chances to win it. If the first trade placed does not finish in the money, the lost value of that trade is added to the next.
A ‘refer a friend’ bonus of £/$/€500 is also offered to any existing account holder who brings a new trader to MarketsWorld with monthly loyalty awards also given to regular traders who meet trade volume requirements.
Deposits and withdrawals
When it comes to making deposits into a trading account or withdrawals, MarketsWorld has a good range of supported e-payment providers as well as facilitating transactions via Visa and Mastercard debit and credit cards.
The minimum deposit required is only £/$/€10, the same level as the minimum account withdrawal. Bank transfers are also an option and withdrawal processing times are given at as between 2 and 7 days.
Customer service and support is a major plus of MarketsWorld. Whether the result of the regulatory regime’s strict controls, the company’s own culture or a combination of the two, the broker’s traders offer very encouraging feedback of support quality, which is provided in 13 different languages.
Extra features and resources
With simplicity and a focus on execution-only binary options trading, MarketsWatch does not provide additional features and educational resources, with the exception of a demo trading account.
As already touched upon, MarketsWatch is a binary options broker that will split opinion, depending upon what is important to an individual trader. On the plus side, trading with the company is very safe due to its tight regulatory regime in the UK and it is also one of the very few brokers that can accept U.S. traders. Customer service is also top notch.
Trade execution times are arguably the best available on the market, which is something that will really appeal to many and be considered as more than outweighing the lack of extra tools and resources, which can in any case easily be found for free elsewhere online. The mobile app’s response times do, however, need to be improved.
The range of tradable markets is also a little narrow and could be an issue for traders who prefer to trade a more diverse range of markets. All-in-all, for traders who are happy with the range of available markets offered and don’t attach particular importance to additional tools and resources being available within the trading platform. MarketsWatch will appeal on the grounds of its market leading execution times.
In MarketsWatch a scam or a safe broker to trade with?
Based and regulated in the Isle of Man, in the UK, MarketsWatch is one of the safe options when it comes to trading binary options. Trader funds and capital to cover potential winnings are segregated in controlled accounts banked in the Isle of Man so account funds are secured in even the worst case scenario.
What is the minimum and maximum trade value with MarketsWatch?
The minimum trade value is £/$/€1 and the maximum value of any one trade £1000.
What is the maximum and minimum payout levels provided by MarketsWatch?
The highest payout reaches 90% and the lowest 70%.